Don't Spend

Paul Dewick, commercial director, Boomerang funding on starting a recruitment business.

Don't Spend

Global

Every day I am asked to speak to or meet with someone who is looking to, or has set up, a recruitment agency. It is easily the best part of my job, it takes me all over the UK and sometimes into Europe. Let me share with you some of what we talk about.

Regardless of what sector the recruiter is looking to place into, I always start by saying the same thing.

Stop, don’t spend any more money.  

A quick Google search shows that that you can set up a Ltd company for as little as £4.99. It was not that long ago that some people thought that the only way you could be successful as a recruiter was to have a shop on the high street, how things have changed. Some of my most successful customers do not even have an office, let alone a shop.

If you have been involved in recruitment before and understand how hard it can be, there’s not much else you need.

Some of the CRM’s that are on the market now are so clever, but you don’t need one right away. A website is a great way to show your candidates and customers what you are about and what makes you different, but your first site does not need to be complex, just one or two pages that can be created for next to nothing.

 

Spend some real time thinking about your recruitment agency name, it must be right as even though It may seem like a million miles away, you must be thinking about your exit plan. You are probably going to want to sell your agency at some point at the right name is really important.  Paul Dewick Recruitment sounds great, but if you take me out of the equation then the company name means much less. Choose a company name that you can market easily, that you can give an image and a brand to, to increase its impact.

A trade association is important and can give you some real buying power as you grow your business, but you must choose carefully. Ask them what they are going to do for you, what they can give you, and what difference they will make to your business.

Do not sign up to any agreement that has a lock in period, a minimum term or a long notice,  no matter what the product or offering is. If the company is offering the right product, they will have enough confidence in it to allow you to leave at any time.

Get as much advice as you can. Talk to as many people as possible.

Plan it, enjoy it and make it happen. The rewards are endless.

 



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