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Discuss challenges and advantages of starting your own recruiting or sourcing business and sharing experience, advice and business development tips.
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Well I run a HR consultancy business and it's been about 6 years. I started it my own. Faced with lots of problems and tackled those problems with ease. Keeping these things on mind, I also wrote the book "How To Start An HR Consultancy Company?" to help other people not to fall in the problems I faced. In short, this book is a step by step guide for entrepreneurs who plan to start their own HR recruitment and Consulting business. You can check out more at: http://gsjobpoint.com/how-to-start-a-hr-consultancy-company.php
Love your detail explanation. Thanks.
Sure. Today's actually a good day as it's fairly quiet because of the holiday. You can reach me on my office line, 508 746-1427.
Thank you for all your wonderful insight. I'm hoping I could give you call and pick your brain some if that is ok?
Congratulations! It's an exciting decision. It's one I made about 8 years ago, after 10 years with the same search firm, and I only wish I'd done it sooner. After that many years, even though you know you want to do it, it's still difficult to leave.
But, here's how I did it:
I actually moved about a year before I went on my own, and cut my monthly rent payment in half. I kept my expenses low, figuring on at least six months before I'd see commission. I knew, because I'd been in commission sales before recruiting, that you want to set yourself up for success and having high financial stress is not the way to do it.
So, when I went on my own I started out of my house. I had about six months of savings. Initial expenses were:
ATS system. I went with cbizsoft which is about $70 a month.
Good, reliable computer. Back then I had a pc....if I were starting over now, I'd get a Mac for sure.
Good phone service (this has come way down in price, and you could even just start with your cell--smartphone is a must, having access to your email on the go is a life-saver).
I'd invest in some ongoing training as well. Mike Gionta has a great owner's monthly Q and A and recorded trainings that are super and the questions asked are all from owners like yourself, really helpful and only $50 a month. I also subscribed to www.accordingtodanny.com and www.nextlevelexchange.com You don't need all three though, I'd suggest Mike and either danny or Next level, they both run about $99 a month and you can do free trials I think to check them out.
One of the keys to my success when I started out was establishing a small network of fellow recruiters to do splits with. This way you are not all alone doing this, and it can get you off to a much quicker start billing. I think it's important to know and trust the people you do splits with. I investigated some of the big splits networks, but heard a few horror stories that made me back away quickly, such as a friend who posted a search and then her contact told her that within a day a half a dozen random recruiters called her client to try and steal the job order. You don't want to have to worry about that. Start with a few people you trust. For me it was people I used to work with who had also gone on their own and a few other people I met through others.
Initially, your focus will be on getting clients. All you need are a few good clients and good job orders. You may also want to investigate www.bountyjobs.com as a possible job order source, although I wouldn't put a lot of time or effort there, more like a backup place for candidates you don't have jobs for.
The best piece of advice I can give you, is to work harder than you ever have to get your business going. When I started, I was determined to make a placement my first month and I made sure that happened by starting every day between 6 and 7 and going non-stop all day and into the evening. The more you put into your business the more you will get out of it.
Get a website up, you can do this for almost nothing. I just put a site up for my brother a few weeks ago and spend $13. I used weebly and did it in an afternoon, they make it very easy. Buy your domain through godaddy instead of weebly though, it's much cheaper. Take a look at my brother's site to give you an idea....basic but it's all you need to start with. If you're more advanced at this stuff, you can do a lot with Wordpress, etc. www.toplineplumbingwa.com
For candidate sourcing, LinkedIn is a great inexpensive option, depending on the jobs, craigslist can be good. There's always the boards like Monster, or Dice, but you don't really need them and they are expensive.
I'd also suggesting joining some local networking groups, to get out and about and make good contacts.
Feel free to ping me directly if you have any questions. And good luck!
I'm looking to start my own business. I have been on the agency side for 13 years and I'm tired of giving the company all of my hard earned money. Anyone of have suggestions or advice on how I should start or what I should be doing?
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