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What experience works out best?

Written on July 31st, 2015 by in Blog

There is no specific experience needed to enter the Staffing and Recruiting Profession. It is important to realize; however, that this is a sales profession. The success of any new business is based on the ability to generate sales. This sale is more challenging because there are people on both sides of the sale.

There are great benefits; however, because you will never run out of inventory of either prospective clients or candidates you can represent. I’ve noticed many individuals who enter this profession come from the Hospitality, Retail, Insurance, Real Estate, Car Rental and other Sales Professions. I’ve also seen individuals from all walks of life do extremely well. Success depends greatly on the attitude, tenacity, focus, knowledge and dedication of each individual. No matter what the experience, if you learn the placement process, how to overcome all objections and focus on a high margin or profit niche, your chance for success greatly improves.

Is there too much competition?

Written on July 31st, 2015 by in Blog

The concern of many individuals contemplating the Staffing and Recruiting Profession is that there is too much competition. There are thousands of recruiters worldwide, but most recruiters are specialists in a certain industry or niche which greatly limits your competition.

Most Staffing and Recruiting firms only fill one out of seven job orders, contracts or temp assignments they write, due to a lack of identifying the talent their clients will hire. This one statistic proves there is a great need for recruiters who can identify talent.

With a baby boomer retiring every 6 seconds, the demand for top talent will continue to increase! This is a great time to enter this Profession.

How long will it take to generate an income?

Written on July 31st, 2015 by in Blog

The answer to this question depends greatly on the niche you select and the segment of the industry you select. If you are placing lower level positions like light industrial, call center or office services, you can place some in a temp assignment the same day or in a direct job in a matter of a few days.

If you are placing professional contract or direct, the time frame is longer with many direct job processes taking five weeks from accepting the order to filling it with your candidate. Professional contracts can be filled within a few days.

The temp and contract segment of the business normally pays invoices weekly. Direct placement invoices are normally due within thirty days and most candidates are working and must hand in a two week notice, which can delay the start date.

Focus on sales and marketing

Written on July 31st, 2015 by in Blog

Nothing happens in business until a sale is closed. From the day you begin to set up your new business, you need to identify the best ways to obtain leads, convert the leads into sales and figure out how to obtain repeat sales from your customer base.

Create a repeatable marketing and sales process that you can work, test, measure and one that anyone you hire in the future can utilize to generate profits.

Sale leads are more important than your brand, so don’t waste money getting your brand right at the expenses of spending that same money to attract new clients.

Success or failure in a new Staffing and Recruiting Firm is all about knowing the how and why of taking certain actions and being clear about which steps to take next. Focus as much of your efforts as possible on sales and marketing to ensure success.

Overestimate expenses and underestimate revenues

Written on July 31st, 2015 by in Blog

When you are planning your new business, it is wise to overestimate expenses and underestimate revenues. No matter how well you budget and watch costs, your expenses will probably be 25% higher than you initially anticipate.

New Staffing and Recruiting Firms do not immediately generate revenue. You must attract clients and candidates, obtain orders from clients, present your candidates, have them complete the interview process (which can take up to five weeks), your candidate will hand in a two week notice and most invoices are paid in 30 days. The process is faster if you specialize in temp or contact staffing.

Being conservative in your numbers doesn’t mean you are selling yourself short. It just means you have information you can work with when you are calculating when you can afford to focus on your new business full-time. If you are not making money, you have a hobby not a business.

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