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Will You Ever Be An 8 Figure Recruitment Business Owner?
Posted by Nicky Coffin
It’s likely you are reading this post at the end of one year or at the start of another. It’s a classic time for reflection, isn’t it?
The question is; are you getting the results you want for you, your business, and I suspect importantly; your family?
Every year, I like to close the year by reflecting on my past 12 months. I find it helps to gain valuable insights and learn from your experiences, as it helps you to take an emotional, professional, personal and financial reflection, so you can step more confidently into the new year with re-newed energy and focus. I wanted to share the exact questions I use for my own refection:
Click here to access the free “Re-Flect, Re-Fresh and Re-Focus’ Worksheet
As well as the 3 R’s worksheet, over the next few posts, we want to reveal some of the techniques and strategies; we call them game changers, that our clients are using that are accelerating their growth; you can read their success stories here.
Let’s get going by starting at the beginning.
Why People Stay Stuck?
There is a well-known saying that goes along the lines that; you will continue to get the same results if you keep doing the same things.
Generally, many recruitment business owners are creatures of habit. Even the loveliest owners we meet can tend to stick to the same strategies, routines and practices; even though they aren’t delivering the results they want.
We are all human beings, and it is challenging to try different approaches without a guarantee of success, I am sure all of us can relate to that.
Remember we are creatures of habit coupled with the fact that we can be resistant to change.
The warm comfort of old habits outweighs the fear of change. But the real business and life change you want needs to have a plan in place to make it happen.
Good news, we are covering this here and in the next few posts.
The first step, and the all-important question?
What Do You Want And Why Do You Want It?
I know this might sound like a crazy statement and yet it often floors recruitment business owners we meet.
What do you actually want from your business ? Then we follow this up with; “…. and why do you want it?”
You might be astounded at how many people are unclear about what they genuinely want because old patterns keep appearing or they are living someone else’s dreams.
Often we find that owners haven’t taken the time to connect with their purpose, and what they actually enjoy doing. For instance:
- Do you want to create a small boutique agency with a super niche focus delivering high-value placements?
- Perhaps you want to scale up to 7 figures and dominate your market?
- Or scale over the next few years to 8 figures plus and have an exit plan?
By the way, any of these outcomes are possible. You will need a plan, process, people and in some circumstances external funding.
Why Do You Want It?
I was talking to a potential new client the other day. Amanda ( not her real name) was honest and admitted that up to now her recruitment business had been ‘lifestyle’; her words, not mine.
She had two children, and at the start of her journey as a recruitment business owner, she wanted the flexibility of being around for them, holidays, School runs, ballet etc.
Fast forward to 2017. They were both in 6th form, and it was now time to tap into what Amanda wanted from her business and life.
She had been a big biller at Adecco before she started her own agency and was NOW ready to scale and grow; her why had shifted to another level.
Her why had always been her family and it still was. The ability to fund their University education and support them as they become young independent adults was now her main driver. The family was always her big ‘why’ though now with a subtle shift.
OK have you made a decision about what you want and importantly what your motivation and drivers are ? Then it is time to jump into action.
Once you have decided what you want its time to crunch some numbers. It’s a gamechanger we recommend, and we explain more in this post here. ( Ana hyperlink to the analysis post you are adding, please.)
Would you like to get the results our clients achieve? It takes work. The starting point is joining us here at our next event.
Katy and Nicky