More importantly do you know the difference?
At least twice a week every week I will get a phone call from a recruitment business owner wanting to discuss business coaching. One of the first things I will look to establish is, if they want to be a “job holder” or a “business owner.”
One of the differences between a job and a business was best explained to me by an accountant, she worked for one of the big four accountancy firms. She explained a job is where you work and you earn money, whereas a business will generate an income whether you work or not.
She also pointed out that when you have a business you have something that has real value to a potential buyer, when you have a job this is of little value to any potential buyers.
Let me explain, whatever your opinion of McDonald’s restaurants what you do know is that wherever in the world you go and order a McDonald’s, the quality, the size of meal and service are pretty consistent. What you also know is you don’t have to be a brain surgeon to work there. The point is that as a business, McDonald’s owner does not have to be there frying the fries or tossing the burger, because the owners have put in place the essential building blocks for creating a business.
The most important thing is your mindset as the business owner; this means when you create your business your vision should be of a business without you doing the prospecting, recruiting etc.
The second building block is the systems. As a recruitment business owner, your marketing should be such that you have a system for generating 10 leads per consultant per month. Did you know that some of the most successful recruitment businesses do just that? And that it takes about two months to put in place? Also you need a process for following up on those leads i.e. from initial telephone call to offer and start date for the candidate.
Any business owner that wants a business must build a team to deliver. This surprisingly always seems to be the most challenging aspect of building a recruitment business. I always find it quite interesting that a recruiter would find it challenging to recruit a team to create a business. Once the owner puts in place systems and processes for the business, then there is no need to find the elusive “top performing biller” that many recruitment business owners are constantly seeking. That aside why would a “top performer” leave their present company and start all over again with you?
So you have got the right mindset, you have put your systems and processes in place, which has enabled you to recruit individuals with the intellect and potential to achieve the numbers you desire, what next. Well as I am sure you have heard many times “If you can’t measure it you can’t manage it.” In other words what have you put in place that will measure the processes and systems? Do you know what you need to measure? In other words what Key Performance Indicators will you be measuring.
Successful recruitment business owners have acknowledged if the business cannot positively function without them, then it is a job. Business professionals who are running strong recruitment companies have them constructed as organisations and organisations utilise multiple talents and resources to achieve the long term goal of the business.
If you would like to discover if you have a job or a business that maybe of value to a potential buyer then click on the link below and we will send you a questionnaire, to uncover the potential of your business. Simply complete the questionnaire and calculate your points for each answer. Your total score will reveal whether you have a job or a business.
Wishing you continued success,