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Request an Engagement Fee

Written on September 24th, 2012 by in Blog

The definition of an engagement fee is obtaining a portion of your fee prior to doing any work for a client. This engagement fee is non-refundable regardless of results provided. You need to place your efforts where you have the best chance of producing results. You can present the concept of an engagement fee with new clients or anyone who has given you a more than one order with no placements, even after you have presented very qualified candidates.

Some examples of the work you do for free include:

  • Acquire specifications from employer
  • Send copies of spec to employer for approval
  • Make adjustments as a result of feedback
  • (more…)

Information Technology is a lucrative niche

Written on September 24th, 2012 by in Blog

IT is an extremely lucrative niche because the talent needed for many direct, contract and temp assignments can be difficult to identify. However, if talent was easy to find, you would not have a business. Your services are needed in this niche, which is why you will be able to generate many job orders and contracts. You need to become well known as an expert in your niche, so top talent tracks you down.

  1. You can sound like an expert quickly if you do the following:
  2. Write articles for targeted trade publications
  3. Create a BLOG on IT topics
  4. Rank high because of your SEO efforts when someone conducts a search for an IT Recruiter
  5. (more…)

Develop Thirty Clients For Your Business

Written on September 24th, 2012 by in Blog

Build a client territory of 30 accounts for your business. 10 key accounts and 20 back up clients. The key accounts provide you with multiple orders and you are the preferred supplier of top talent. The 20 back-ups know you, know the services you offer, but don’t necessarily call you first or give you multiple orders.

This type of territory is recession proof. One common denominator of owners who fail is that they had less than 5 clients providing them with 75% of their business. When those clients stopped hiring, they were essentially starting from scratch.

When you represent the same clients for an extended period of time you may not be generating the highest margins or fees and they may no longer be one of the most desirable companies in your niche. In this candidate driven market, you need to represent the companies that your candidates identify as most desirable.

Systems Are Mandatory Not Optional

Written on September 23rd, 2012 by in Blog
  • Why is Starbucks so successful? Systems
  • Why is Wal‐Mart so successful? Systems
  • Why is Nordstrom’s so successful? Systems
  • Why is Apple so successful? Systems
  • Why is Staples so successful? Systems

Do you notice a trend here? If you want to get your business to the highest level of profits possible, you need internal systems.

The mandatory implementation of systems provides the following:

  • Ability to grow and hire
  • Ability to open an office or offices
  • Easier attainment of goals set
  • Expectations are clear
  • Fair and consistent work environment
  • Improved morale
  • Increased sale and profits
  • Clear standards and core values

You must realize the value of your business dramatically increases when there are systems in place. If your exit plan is to sell your business, systems are not optional they are mandatory.

What You Don’t Measure – Doesn’t Count!

Written on September 23rd, 2012 by in Blog

“Measuring for success” is a phrase that moves the focus of measuring to what is possible. In activities that are more complex, it is simply about finding methods of measuring a series of activities throughout the placement process and adjustments along the way to achieve the desired results.

  1. Measurements of activities in sales provides feedback to:
  2. Set standards for activities that lead to desired sales results.
  3. Measure the activities at different parts of the sales process.
  4. Make adjustments to activity areas that need improvement.
  5. Measure against the new results and then the process is repeated.

There are certain ratios and statistics that are critical to measure in order to determine the exact results you need to accomplish each day. In the future, this will help you manage your team if you grow your business.

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