I often get asked what’s our criteria and what do we look for in our budding recruitment entrepreneurs.
When you’re looking for investment for your recruitment start-up, no matter how much research, contemplation and planning you do, the stakes are often high. When we launch a new recruitment venture, there is a high risk of course for both parties however we have done this an awful lot since 2003 and we don’t invest in everyone.
Identifying the right talent is always a bit of a gamble, right? You guys know that.
Here are our top reasons why we wouldn’t enter a relationship with some hopeful recruitment business owners.
You don’t have the potential for success
Past success is a reliable predictor of future success. If you haven’t worked in a traditional ‘360’ recruitment role before and there is no evidence of consistent billing, then it would be very difficult for us to take that leap of faith. Learning agility is important however core recruitment disciplines, knowledge, skill and war scars are paramount.
There is no trust
Right from the start, we are honest, open, direct, sincere, transparent, straightforward and unpretentious. We understand that we are all different, heck we wouldn’t have been doing this for so long if we didn’t understand recruiters however we hope that our prospective clients share the same values.
We don’t know the whole truth
Lay your cards on the table. We’re not asking you to reveal every little dark secret however we are here to help and support your business so if we don’t have all the information then it may bite.
There is no evidence that the business will make money
Your decision to work for yourself is quite often a psychological seismic shift. You’ve done well to get this far. The fact of the matter is, you are no longer reliant on a salary at the end of the month. Your income is dependent on your business making enough sustainable income to survive so some sort of strategy and forward thinking is essential.
Your start-up costs too much
I want Trump Towers for an office, 100 LinkedIn Recruiter accounts, long-term Mercedes leasing contracts, piggy bank top-up fund and a database full of hot-to-trot candidates, please! Need I say more?
You are resistant to listen to advice
Our experts know what they are talking about when it comes to tax, business planning, creative, technical, legal, oh and we know a bit about recruitment start-ups too. We are here to help you and your business in each important area so ask us!
You want to do it for the wrong reasons
If you’ve had a bad week at the office, your boss is giving you a hard time, you can’t find another job or want to start your own business because you ‘can’ then that doesn’t fill us with much confidence that your business is going to make any level of return.
Understanding your sector
Why start a business in a sector you don’t know? I’m a music fanatic but I wouldn’t go and open a recruitment business in the same field if haven’t got enough contacts and understanding of how the recruitment market works in that area! If you’re thinking of switching sectors then great, do it, but gain a good grasp of it first.
We are just not right for you
Sometimes we need to accept, that we are just not everyone’s cup of tea. It needs to feel natural and we both need to feel comfortable that we are doing the right thing however now and again, that just isn’t the case.