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Your Greatest Challenge
YOUR GREATEST CHALLENGE
When you become an entrepreneur, it’s critical to understand the importance of selling. You will sell your services to both potential clients and candidates.
You could create a great business model and do everything right when you establish your business. However, if you don’t sell and generate revenue, you will not succeed. The Staffing and Recruiting Profession has people on both sides of the sale which is an additional challenge. They are moving targets who talk back.
Our sale is a consultative, education based sale which when mastered is extremely effective. When you start to work your new business, you must be ready to experience a high level of rejection and objections. The good news is the longer you work at this profession the easier it gets.
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The Importance Of an ATS
THE IMPORTANCE OF AN ATS
There are many different types of ATS (Applicant Tracking Systems) which help you work more effectively. This is not something you need to invest in before you have your business established.
The average cost of an ATS is under $100 per month for one or two users. Once you select your area of specialization and business model, then you are in a position to decide on the system most appropriate for your business.
The right ATS system will help you work more effectively and if utilized properly will increase your sales and profits.
Some systems have bells and whistles that you won’t use, but they will increase your cost. As part of the Start Up Tutor program, we will recommend the ATS that will be most effective for your business model and niche.
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SHOULD YOU SPECIALIZE IN RETAINED SEARCH?
Today we will address the retained search business model. Often it seems a smarter decision to create a business where you are paid before you begin to work on a search. There are pros and cons you must consider, before you decide to open a Retained Search Firm.
Retained searches mandate the following:
- A detailed retained search agreement that outlines how and when you are paid. Normal agreements pay1/3 up front, 1/3 after a specified number of qualified candidates are either presented or interviewed. The last 1/3 is paid when a hire is made.
- Comprehensive written reports and details through the entire search process.
- Exclusive rights to candidates surfaced, until the client determines they have no interest.
Can I Place People in Jobs in Other Countries?
The job market is global and there are no restrictions to prevent you from placing people in jobs in other countries. Placing in other countries does involve more paperwork, knowledge of VISA’s etc. and can take much longer than placing in the U.S.A. or Canada.
If you do not have experience in the Staffing and Recruiting Profession, it would be more lucrative for you to develop a local clientele before you attempt to place in other countries.
There are networks that specialize in international clients that offer you the opportunity to split deals with their members worldwide. Their members either have the client and need split partners to identify candidates, or they have candidates and they are looking to split with someone who has either direct or contract opportunities.
Do I Find Candidates on Job Boards?
Your prospective clients do not want you to present candidates they can find on their own. Many companies pay for job boards as well as corporate recruiters who surface candidates from the job boards.
It is important that you learn to attract the passive candidate. The best candidates are often individuals who are working, but would make a change for the right opportunity. With job satisfaction at the lowest percentage in history, it is not difficult to entice qualified candidates.
If you do utilize job boards, it is effective to use the individuals on the job boards to lead you to referrals of passive candidates. If you develop a candidate referral program, most individuals can lead you many additional qualified candidates for you to represent.