Looking at why some recruitment business startups fail, it’s clear that there are three dangerous pitfalls to avoid
Firstly, and incredibly, people start recruitment businesses with no experience. They may have a little knowledge, which is of course ‘a dangerous thing’, but they don’t have in-depth expertise, and they don’t have an informed backer or mentor either… ultimately it spells failure.
Reason number 2 is just as hard to believe. Unbelievably, a lot of people launch without a business plan. To be kind, it’s possible that they’re fired up with entrepreneurial spirit and a list of contacts, so they figure they can make a start and worry about the big plan later. Or, as experienced as they are in recruitment, they simply don’t know how to write a business plan for a new venture. Either way it’s dangerous. You need to know how commercially and financially viable your business model is, and you need sensible projections for your cash flow and profits. It’s not just for peace of mind. It’s because your bank manager will want to know.
And thirdly, they fail because they don’t have the infrastructure. They have no systems. Armed with a mobile phone and an email address they launch into the market, only to sink beneath the waves of applications and appointments their hard work has generated. Without the systems it all falls to pieces.
There are other reasons, but I think that’s enough for the moment! My point is that all three of those pitfalls could have been avoided if they’d gone down one single route.
If you’re a recruitment consultant with five years’ experience and let’s say three years knowledge of a specific sector you’ll have enough background to start your own recruitment business. At Recruit Ventures we have a business model aimed at people just like you.
We’ll guide you through a writing your business plan.
We’ll also provide you with a full back office support function to support you start up your own business.
And what’s more, we’ll deliver 100% funding, a guaranteed salary and no personal financial risk to yourself. It will be funding from experts who understand recruitment, and can mentor you .
Avoid all three of those common and dangerous pitfalls with one short email… To me.
Sometimes 3 into 1 will go. Make a go of it, contact jbuckman@recruitventures.com
You can also find out more about Recruit Ventures unique business model at www.recruitventures.com
Author
John Buckman is chairman of Recruit Ventures and a true entrepreneur himself. Having launched and grown many successful businesses especially within the recruitment sector, John’s expert knowledge and experience grants him the opportunity to offer advice and support to others in the industry considering setting up on their own.