Start A Recruiting Business: A Case Study
Donna Padilla, Recruiter
When I decided to start a recruiting business, I knew it would be a tough mountain to climb. I am a woman in a man's field, and there is some pretty serious competition out there.
So I took it step by step.
First I sat down and listed all of the engineering execs I could call on a first name basis. I've been in the field over twenty years, so that made a good size list.
Then I had to evaluate realistically how many of them would trust me to send them solid candidates. That narrowed the list down some. Fortunately, there were still lots names left on the list -- lol.
Assessing My Candidate Pool
Next I had to assess how I would get those engineers to come to me, to feel confident that I would not betray their trust to their current employer, and that I could connect them with strong business options. This part actually was harder. When you start a recruiting business in this economy, the expectation is that the candidates will be there. I probably spent more time and effort than needed to confirm to my self that I could indeed get a good pool of candidates ... and keep on getting them.
Marketing Stats vs. True Gut
My gut told me it was a go. Ultimately, I just had to trust that gut feeling. There is no realistically reliable way of determining how many biotech engineers are looking for jobs, and how many of those will come through my office. I knew I was on the right path, so I set out to create the business.
The First Loan To Start A Recruiting Business
I haven't owned a business before, so I started out working through Starting A Recruiting Business. It was a solid comprehensive review of what business is all about. It really helped me clarify where I was, and where I wanted to go. I also discovered how to promote my business with a website. I had known that option was there; I just had not realized how really powerful it was, and how accessible it was.
When I started putting my numbers together, I decided I should have some backup financing, and decided that a line of credit would be a good option. As a new business, I knew I would have to present myself very professionally. I wasn't sure what type of business plan would work best, so I contacted CJ and asked her directly. She suggested that I use the Consultant Business Plan. As an independent business service provider, that seemed like the best fit.
So I did it.
One Year Later
Well, that was over a year ago. I got my line of credit, although it wasn't as much as I originally asked for. I got my website ready while I was still working.
I started slowly, giving my cards to people I knew and letting them know I would be open for business in a few weeks.
Jumping ship and becoming a full time recruiter was a big step. It hasn't all been a piece of cake, but truly my one real regret is that I didn't start a recruiting business much, much sooner. I love what I am doing, and I am on a strong growth curve now.
The Key To Success When You Start A Recruiting Business
My key to success? More research than I could possibly need. And following my gut.
Note from Lon: There are a lot more businesses that can benefit from this approach as well, such as the following:
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