Starting your own recruitment business?
Go with the flow.
Cash Flow that is……
If you’re thinking about starting up your own recruitment agency it’s highly likely that you’re driven by more than one factor. Ambition – to develop a business based on your experience. The desire to do it your way. The need to control your own destiny.
And, let’s be honest, the potential rewards are high on the list too. Why wouldn’t they be? You’re an entrepreneur.
Properly set up, and well run, a recruitment company of your own can satisfy ‘all of the above’.Keywords to note there are ‘properly set up, and well run’.
Let’s skip a stage for a moment and get beyond setting up to ‘well run’. It covers a myriad of disciplines, taking in the management of staff, finding the clients, delivering the right candidates – all of which you’re used to because you’ve probably already got five years experience and you’re likely to be running your own desk by now.
What you’re probably not exposed to – yet – is cash flow.
When your startup is just that – a new startup – you’re going to have more money going out than coming in. There are costs attached to setting up your business and the problem is it might be a while before there are clients attached to it. And then some more time passes before they actually pay you. That’s stage one.
Stage two kicks in when you are up and running but now you need to ensure that those lovely new clients do actually pay you. On time.
Stage three? We hesitate to go there but bad debt looms like a spectre over any business. Getting it resolved means having resources.
All of this can apply to any business. Some cash flow problems are unique to the recruitment business though. Think about paying temps before the client pays you. And your business plan has, we assume, acknowledged the, sometimes, long period from search to placement – to getting paid.Cash flow can be the making of a business – and the breaking of it.
In our experience, it’s one of the most important factors in running a recruitment business, and indeed in setting one up. Which brings us neatly back to the point we skipped earlier.
At The Recruit Venture Group, we specialise in helping recruitment professionals to start their own businesses. We provide 100% funding to create a risk-free backing package. We provide the legal help, the systems, the branding and the admin support.We also ensure that a line of credit is in place for you, and we process and chase your invoices. In short, we make the cash flow – flow.
It’s your business though. You’ll be paying yourself a salary, drawing dividends and running the company. Which, with us behind you, is somewhat more manageable.
If you’ve got the sort of experience we mentioned and you’re serious about starting up –APPLY NOW.