Article published on: 13/03/23
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 this move in the near future it is best to be fully clued up.
It can be lonely at times
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.
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.
You will question yourself at times - there is no doubt about it - and will also feel like you are the only one to go through the situation. You will be personally challenged in a whole number of ways but this can ultimately make you more motivated, business focused and resilient.
You could also be doubted by others or face cynicism at times. Many will offer opinions, but it is up to you how much you listen to them and take their ideas on board!
Everyone has worries when starting something new which is normal - we all have our own routines and venturing away from these can cause apprehension.
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.
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.
Remain clear on your goals and what your overriding aims are. It can be easy to get both distracted and enthusiastic about new directions and sub-ventures, but make sure you don't lose sight of your priorities at the same time and focus your efforts on essential tasks first.
Often people in the same boat are even more likely to provide a thorough support network. Sharing experiences or perhaps finding a mentor who has successfully ran their own agency for a while, can be a great insight provider and sound board. Don't be afraid to ask for advice.
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 / email@example.com