Thinking of starting your own recruitment agency? Don’t let these 5 questions hold you back.March 19, 2021 1:12 pm
Thinking of starting your own recruitment agency? Don’t let these 5 questions hold you back. I started JMC Legal Recruitment back in 2016, and in just a few years we’re now the leading legal recruitment agency in the UK. I say this not to brag (much!), but because it’s perfectly possible for you to do it too. In fact, we offer partnerships with big billing recruiters to make the process even easier. So what’s stopping you? Thinking of starting your own recruitment agency? Here are some of your common questions answered.
1. What if I mess up?
Okay, let’s be up front here – you will make mistakes when you start your recruitment business. It’s how you deal with them that matters and what action you take to ensure you don’t repeat it.
It’s rare that one single catastrophic error takes you from success to instant failure, but a collection of errors that build up and get ignored is much more common. Be prepared for a steep learning curve and go from reacting to unexpected problems to proactively expecting them before they arise.
2. What back office stuff do I need?
You can set up and start running your own recruitment agency with just a few key things:
- A big book of valuable contacts and potential clients
- A laptop, phone, and a good internet connection
- Somewhere to work
Once you’ve started, you’ll need to think about how and when you grow your business, and smooth back office operations are key to that. You can look to investing in outsourcing back office support, or partnering with a recruitment specialist like us to help streamline your processes and keep operations running smoothly. But keep a close eye on the finances to ensure you scale up without overreaching.
3. How much money do I need?
It depends on your market, the sort of recruitment agency you’re looking to set up, and how you plan to grow your business. I did it without an inheritance or a large business loan, so I mean it when I say you don’t have to start out rich to make it work!
My advice is to keep a close eye on your incomings and outgoings as it can take a while for payments to come through in recruitment. Make sure you can fund what you want to do and have a financial plan to go with your business plan.
4. Will it take up all my time?
Yes. At least for the first few years. This should be a passion that drives you to want to succeed. It’s certainly not the same as being a recruitment employee. Doing the day-to-day recruitment activities is only one part of running your own recruitment agency. From handling the finances and paperwork to managing staff, setting leadership objectives, and growing the business brand – all this will take up time.
5. If I build it, will clients come?
If you’ve done your research, spotted a gap in the market, created a thorough business plan, and you have some years in recruitment already, then yes – you can be confident that clients will come to you. Where businesses fail is when they don’t know who they are expecting to come through the door. They hope for anyone or everyone, with no proper target in mind. The result is they end up with no-one at all.
Don’t try to be the perfect recruitment agency for every person out there. Be the right recruitment agency for your ideal clients and candidates and make your company the easy choice for them.
Related: My kind of Leader
Jason Connolly set up JMC Legal Recruitment in 2016 when he was still in his 20s. JMC Legal quickly established itself as one of the big players in the industry and Jason has also become a well-known fixture in the press, offering advice and support.
This post was written by rubenwildeTags: agency, jmc, jmc legal, jmc partners, jmcpartners, recruiters, Recruitment, recruitment agency, start, start your own recruitment agency, start your own recruitment business, start-up
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