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How to Grow Your Recruitment Company
Posted by Nicky Coffin
How to grow your recruitment company is a question whirring round the head of most recruitment directors that come to Katy and me. Generally followed by; “……and how do I do it without working myself into the ground?!”
The current business landscape has been perfect for the recruitment sector. It’s often quoted that recruitment is the first into a recession and the first out.
During the last few years recruitment has grown at a faster pace since pre-2008. In fact, last year companies house registered over 4500 new recruitment companies.
This is fabulous news however as we all know when a sector grows competition does increase and if you are serious about growth, working harder is unlikely to produce the results you now want; especially if you want to step back from being the front woman or man in your organisation.
So where do you start
Have A Goal
I know this is simplistic and we see so many people flail around merely because they don’t have a goal.
Goals lead to actions that then lead to results.
If your ultimate end point is a buyout, what revenue do you need to be turning over and importantly at what profit? This is the real world and if you have a big goal than limping along with a couple of consultants won’t enable you to hit that dream exit plan anytime soon.
Many years ago I decided I wanted to play Rugby for England; entirely different all those years ago especially as a woman!
I debated giving up on more than one occasion. However I had the vision, and I worked for it. I also did something else……
I have been lucky enough to visit Necker Island and spend time with Sir Richard Branson, and half a dozen other successful business owners; all at the top of their game.
You know what they all had in common apart from drive and determination? They invested in support. What fascinated me was that I was in the company of billionaires who still had business coaches.
If you want to get ahead faster tap into the expertise of those people who have the formula. Katy and I have both run successful recruitment organisations and have the template you can use.
If you want to scale at an unprecedented level over the next couple of years, email me here and put the scale in the title.
Be the Change You Want to See
There is one thing that will make a huge difference to your business growth, and that is you; especially how you work with both your own mindset and then how you lead others.
As the business leader, you are central to the success of your organisation. In order to build and scale to 7 figures and beyond the change starts with you.
The shifts you make will empower others to change too, and you will spend your time differently on the main elements of the business. At Centredexcellence, we call these game changers.
Develop An Obsessive Focus On Marketing and Sales
I was listening to a recording the other day by Dan Kennedy, often referred to as the Godfather of marketing. His business growth gem? Get great at marketing and sales. The only way that organisations can scale is to bring in a warm supply of targeted leads that your sales people (recruitment consultants) convert.
In a competitive landscape, you have to ‘get good’ at creating demand for your service. There are lots of posts on the Centredexcellence blog that will help too.
Develop A World-Class Team
Sorry to name drop again !…. and when I was talking to Sir Richard, on Neckar, I was fascinated to learn his approach to developing his team. Hire great people then get out of their way.
Though you might have always been the super hero biller that rescues everyone; it’s not sustainable, and it’s not healthy.
Therefore you will need to surround yourself with great people who you can grow and develop.
Build Your System
Creating a system approach and way of thinking will impact multiple areas of your recruitment business.
I am sure you already use KPI’s with great results, and this is about expanding this further.
Any repetitive task needs to be written down. Success leaves clues. Imagine having a defined process where you can pinpoint exactly what needs to happen to produce predictable results. This process style of thinking can work at all levels in your recruitment company.
From your marketing, lead generation, people management, and employee reward and development system.
The first step is to take action on the steps we have suggested. If you want to follow in the steps of all our success stories, then get in contact and let’s have a conversation to explore if you are a fit and a match for our programmes. Would you like support to scale and grow with Katy and me? Then get in touch as we have a number of programmes with guaranteed results. Email us here.
Before you go, have you downloaded our new report to help your consultants convert more clients? You can download it here.
Nicky and Katy