Article published on: 22/04/24
Knowing the reality of setting up a business, can help you be more determined to succeed and prepared for the challenge ahead. Starting your own recruitment agency is now more feasible than ever, but if you are thinking about launching your own temp agency in the near future it is best to be fully clued up.
Loneliness
The often non-traditional and long working hours can make starting your own agency quite lonely at times. But despite your social life and family time being impacted initially - this is usually fairly short term and more prevalent in the early days.
Financial worries
Your biggest worry overall may well be whether or not you can cover your bills. As long as you are making sensible and manageable financial decisions - keep going!
Most start-ups seek funding for their recruitment business early on. Even when self-funding is a possibility, it is generally not sustainable longer term, especially in the temporary recruitment sector where businesses are required to invoice and make payroll on a weekly basis.
Being financially savvy is a great mindset for the future and will help you to manage your finances both on an ongoing basis and as you grow as an agency.
Outsourcing your back office to the right third party will ensure you can maximise your earnings from day one, freeing up crucial time and money for reinvestment and sales work.
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Self-doubt
At times, you may find yourself questioning your own abilities - this is inevitable. It may seem like you are navigating through uncharted waters, facing various personal challenges along the way. However, these experiences can fuel your determination, sharpen your business acumen, and fortify your resilience.
Furthermore, you may encounter skepticism from others or be met with cynicism. While many voices may offer their opinions, it is ultimately up to you to decide how much weight to give them and whether to incorporate their ideas into your journey.
Managing fear
It is common to have concerns when embarking on a new venture - stepping outside of our comfort zones can be daunting as we are creatures of habit.
Fear doesn't have to be bad! it can offer an elevated sense of awareness, which can improve decision making and focus.
Fear can instigate a need to plan and prepare, increasing confidence and efficiency. By considering fear as a positive state of mind and taking actions despite it, can allow for success in many ways.
A certain amount of error making is unavoidable but if you fear making mistakes altogether, you will never take the risk.
Due Diligence
It is worth making enough time for administration and laying your agency groundwork - these are essential elements that always need doing thoroughly, despite them not being as exciting as other areas. There are options to outsource such areas too, so you can focus on the job in hand - placing candidates, building a client base, and growing your recruitment agency.
Get focused
Stay focused on your objectives and overarching goals. While it's tempting to explore new opportunities and side projects, ensure that you don't lose sight of your main priorities. Concentrate your energy on essential tasks first, avoiding distractions that may hinder your progress.
Support package
Connecting with others who are on a similar journey can offer a valuable support system. Whether it's sharing experiences or seeking guidance from a seasoned mentor who has navigated the agency world, don't hesitate to reach out for advice and insights.
For everything you need to know about starting your own temp recruitment business, check out our resources page right here or contact us on 01827 438065 / info@flo.co.uk
Flo is registered in England and Wales, with registration number: 08445681
