When you’re weighing up whether or not to take the plunge and start up a recruitment agency, it’s a little bit scary.
When you’re making the decision, it’s exciting.
Once you’ve started setting up your new agency, there’s a lot to think about and you’re keen to focus on the positives. You might keep an eye on the accounts’ bottom line – you definitely should! – but by and large you concentrate on the positives.
But what are you overlooking? What should you be keeping an eye on or have a plan in place for and ready?
Here are four things you probably don’t like to think about, but really do need to be kept in mind:
How Do You Come Across on Social Media?
In the early days of a new agency, its Directors tend not to have much free time, and what free time they have is put aside for blowing off steam. So far so good – but be careful what you’re saying on any social media account that can tie you to your business. Many clients will do their due diligence and so it’s important to remember that controversial statements about the industry, anything you wouldn’t say to your boss if you still had one, and that photo your friend snapped on their phone when both of you were too out of it to remember could cost you some major contracts.
Can You Manage Time Management?
Many rookie Directors come directly from an environment where they always had KPIs to watch and targets to hit – but setting those for others, sticking to them yourself when you have the final say, and not letting yourself slack off if you’re having a bad day? This is a whole new skill to conquer – and if you don’t have it, it’s fake it til you make it time!
What’s Your Game Plan?
It’s always worth following up on opportunities – but some opportunities are more important than others. As a Director of a new agency, you need to make sure your eyes are on the quickest way to get firmly in the black – and that means that if you have to choose between two potential placements, you need to weigh up which one is a better use of your time.
Are You Ready for a Painful Phone Call?
Sooner or later every recruitment agency gets a call from a client with some variation of the phrase “The worker you’ve placed here isn’t living up to expectations…”
It can be tricky to break the bad news to the contractor – but it’s possible it will fall to you. Either way, there’s a lot of paperwork to untangle coming your way to dismiss them lawfully, and there may be other issues arising.
This isn’t something you’ve got to keep an eye on – but if you put it out of mind then when you need your plan in place, you’re going to stumble instead. Be ready.
TBOS are on hand to support and advise any of our clients that are finding the above scenarios tough to manage. Our wealth of experience derived from setting up over 100 new recruitment agencies means that we have the knowledge to be able to lend support to those directors currently facing the challenges of running their new agency. If you would like to know how TBOS can help you, please contact our office.