Here’s How to Turn your Professional Expertise into a Thriving Business in Under Two Years
It’s a frustration for so many successful executives. You’ve gained decades of experience and are a respected expert in your field. But now you have entrepreneurial ambitions that you’re eager to fulfill. The trouble is, if you’ve been working in an established corporate environment, the chances of you being able to launch a successful start-up in your existing market are slim. The capital required and the barriers to entry mean the odds are simply stacked against you.
So what options does that leave open to you?
Well of course there’s the business model of creating a totally new offering and creating demand for something where previously that market simply didn’t exist. With the pace of change across industries these last few years, there are certainly lots of start-ups that are quickly turning into sizeable businesses on the back of a successful gamble about where future demand might be created.
The trouble with that approach is that it’s high risk – and indeed it may take many years for you to even come up with an idea that’s credible.
Why not remove the guesswork?
The good news is that there are businesses out there which need the very skills and experience you’ve been building these last years. Better still, these are businesses with proven business models. Plug in the right skills and follow the necessary steps and your chances of success are high.
One such business is recruitment. Every professional recruiter will tell you that having solid experience within an industry or functional sector makes sourcing and hiring talent in that area much more efficient – and much more likely to result in a successful hire. This, in turn, makes building long-term client relationships with employers – and winning repeat business – far easier. That is, of course, is the foundation for a successful business.
Now imagine if you already owned a successful recruitment business which specialized in the industry you have worked in all your life. Understanding that industry would give you a big advantage over rival recruiters when securing clients wouldn’t it? It would also make you more credible when talking to candidates in your field. Those are advantages it is almost impossible for someone who’s never worked in your field to ever overcome!
Using your skills and experience to address a pain point
One of the main complaints employers have about the recruitment agencies they work with is being presented with candidates who are clearly unsuitable for the role. It often takes them just a short look at a candidate’s profile or a short phone screen to see the glaring gaps in experience, qualifications or personality type that would rule them out of consideration. This wastes everyone’s time and erodes trust.
However this scenario is something that wouldn’t usually happen if the recruitment business is being led by someone with significant experience in the function or industry that is being served. From the outset, communication would be easier as both employer and recruiter would be speaking the same language. Since there would be no learning curve to get over, there would be fewer teething problems and recruiters could get down to business immediately, reducing time to hire.
Think about your skills some more. With your expert knowledge, candidates could be screened much more quickly and more pertinent questions be asked of them to ensure their fit. Applicants who would be unable to do the job through inexperience, under-qualification or an unsuitable temperament would quickly be recognized and would never make it past first base. The final shortlist for interview would be much more targeted and there could be more time focused on finding employees who would fit into the unique culture of each client business.
As a result of all this, there will be a more trusting relationship between client, recruiter and candidate. Successful hires are likely to be made in a shorter timeframe and likely to be a better fit. Candidates are also far more likely to be happy in their new role, increasing engagement and productivity while improving retention rates. This all adds up to a significant saving for the employer in terms of both time and financial outlay.
Can you see now why you would be a valuable asset to a recruitment business? Hopefully this a light bulb moment for you that helps to transform the next years of your professional life. Now you can appreciate your inherent value to the recruitment industry, let’s switch focus to how you can best utilize your strengths to start out in business for yourself.
Get a head start by joining an established recruitment network
It’s true that you could use all of your industry experience and knowledge and start up your own independent recruitment business. Over time, you might even make a success of your venture for precisely the reasons already outlined.
But – and it’s a big but – would you have the funding and business knowledge to navigate those critical early years of a startup? How would you compete with the big industry players and their marketing dollars? What recruitment pitfalls would you fall foul of that were avoidable – but only with the knowledge that comes from years of experience in the recruitment field?
As an established name ourselves, FPC has already done the groundwork. We have more than 60 business owners running successful recruitment practices right across the US. We know what works – and we are in the position to offer you a way of building such a business for yourself. We are looking for industry and functional specialists who can build strong, successful relationships with both clients and candidates. If that sounds like you, we would love to hear from you [insert link to page where they can book in for a call with Doug].
By bringing you onboard, we will be playing to our strengths. You have the in-depth knowledge and experience that’s needed to excel at recruiting within niche industries. In return, we have the established name, business structure, training and processes to support you in marketing, building and growing your business.
That’s why we firmly believe that by owning an FPC franchise, your new recruitment business could be established and thriving in under two years. To find out more about opening your very own FPC office, please get in touch.