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At one point or another, many professionals have dreamt of leaving their current job behind in pursuit of a new business venture.

The dream of being your own boss is incredibly appealing, especially when stories of people who successfully quit their day jobs seem to be everywhere.

So, you want to take the leap, but where do you start?

The REC reported during 2018/19 on any given day 1.1 million temporary / contract workers were on assignment, with a £33.4 billion industry turnover achieved through temporary/contract placement activity.

Most successful agencies are either started by accomplished recruitment personnel that have experience within other agencies or someone that has acquired industry contacts and know- how.

During uncertain times it can be trickier to make the decision to go it alone in recruitment, but there are companies out there that can take the lead and fully support you, despite exceptional external unknowns.

Here are a few tips to help you generally in this situation:

  1. It's important to keep up to date with an unpredictable external situation or fluctuating conditions but focus on essential facts from reliable news sources.

  2. Difficult trading conditions can still offer genuine business opportunities. These may require an open mind or diversification but proactivity here can reap long term rewards. 

  3. It is essential to focus on the figures. Keep lean and a clear account of costs, spending and longer term forecasts to ensure your business remains viable.

  4. Relationships are essential. Whether it be keeping in contact with peers for support, reaching out to a mentor or communicating with potential clients and candidates to start or enhance a quality sales pipeline. These are all crucial to you.

Industry specific companies can offer a recruitment software package to help manage your day to day admin and keep you compliant, a payroll solution and offer funding to make sure you have the finance means to operate. 

Collaboration with a specialist industry funding and back office provider, would ensure a more secure agency launch and initial trading period. It makes sense to have an appropriate system in place to manage these elements, removing a large element of risk and allowing you to thoroughly establish a successful business.

Decide which industry sector you wish to concentrate on and identify your passion. Having a clear focus can give you an advantage when targeting and placing candidates in suitable roles, plus it can be easier to build a long-lasting rapport with clients.

 

Download our eBook -  'Going It Alone In The Recruitment World'

 

 

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