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Why 2018 Will Be The Year Of The Specialist Recruiter Part 1
Posted by Nicky Coffin
Specialism has been one of the huge factors in the growth of every business sector imaginable over the last few years. It’s so crucial to your growth as a recruitment business owner that we have split this post into two parts.
Our online world has many upsides and we have a lot to thank the internet for; especially the way that it allows us to find and promote our offering to our ideal candidate and client.
Everyone Wants A Specialist
The facts are undeniable that the World Wide Web has made it possible for all of us to buy the services of a specialist.
Hey!…. even Katy and I are an example of specialism in action. Ten years ago you would have struggled to find a business mentor that had experience in the recruitment field. Cycle forward, and Katy and I are , working with hundreds of recruitment business owners looking for specialist help to scale their growth.
Companies Want Specialists To Find The New Hires They Need
The ‘specialist thinking’ shift is a massive opportunity for recruiters too.
Think about it; because of our experience as consumers, we are now wired with the belief that if we jump onto Google, we can find a specialist for anything we need.
Therefore hiring managers now know they can go online and find a specialist sales recruiter for Marketo or Hubspot. Or a recruiter that only deals with medical advisors; fascinating isn’t it?
Here is the other amazing fact I am sure hasn’t escaped you.
Tell me; have you ever paid more for specialist support?…. I bet you have.
Therefore do you think that your potential clients will pay more for the value you add as a specialist recruiter; the answer is yes, and we have case study upon case study to prove it.
Katy and I refer to this as the inch wide, and mile deep gamechanger. This is all about finding your niche, that one focus area that is going to yield the best results for you and your business.
The fastest growing and most profitable recruitment businesses position themselves as niche specialists. They have a well-defined target market and a well-defined set of services that clearly differentiate them from their competition.
This is one of the most critical recruitment business growth opportunities to get your head around; this growth strategy has helped many organisations scale past the £500k mark to become £10m plus profitable companies that attract buyers and investors.
Consider the value being a specialist recruiter will add to clients and candidates and that you will then be compensated for?
- Imagine the difference it makes to your clients and candidates when you have a deep understanding of their needs?
- You can provide recruitment services that consistently produce quality placements.
All of this makes you become the go-to recruitment partner in the market; a knowledge leader.
But Nicky And Katy; I Won’t Be Able To Generate Enough Revenue… ?
Many people have an ingrained belief in the ‘more’ principle. The more we focus on meeting more people, doing more work and gathering more business cards, the more business we will believe we will accumulate. This doesn’t play out in practice.
I will hold my hand up and admit a number of years ago I was misguided and thought more meant more! It didn’t.
The challenge is a lot of business owners find it difficult to focus on just one thing because:
- They are afraid of missing out on potential business.
- They feel secure having lots of possibilities.
- “I thought if I had all these clients I’d be OK.”
When you focus on everything, you focus on nothing…. we will let this uncomfortable truth bomb land for a second.
Be honest with yourself; are all of your clients profitable?
Can you easily place all of your candidates?
I suspect the answer is no.
What would your business look like if you focused your efforts on placing only high-quality candidates into high-quality positions in a niche sector?
Imagine how would it feel to spend your time focusing solely on the things that work in your business? The reality is that you can be happier and much more efficient if you focus your efforts on serving the right people in the right market and in the right way.
This is ultimately possible and is a strategy Katy, and I recommend and teach to all our students and clients. The inch wide mile deep process ( we help you plan it all out too) has helped all the people on our case studies page here. Like Andrew, 120% growth in a year, Mina 40% growth in annual turnover, Lee and Theresa from just under £500k to over £1.2 million, and Tom with an 83% growth in net fee income, and the list goes on.
We share these to demonstrate that niche is where the gold is hiding; are you ready to find it? In the next post, we share more nuts and bolts on identifying your niche and how to get going as soon as… NOW!
Before you go, have you downloaded our new report to help your consultants convert more clients? You can download it here.
Nicky and Katy
P.S. Would you like our personal help to achieve results like these clients of ours? Then drop us a quick email here with the phrase, inch wide mile deep in the title. Tell us about your business and goals, and we will be in touch.