Is it time to start my own recruitment agency?

30 Aug 2020

Starting Your Own Business

You’ve spent years in the recruitment industry, and the last few months, or even years, a thought keeps crossing your mind.

What if I started my own recruitment agency?

Once the thought enters your head, it’s a tricky one to dampen down! Here we’ve addressed a couple of different ways you might be feeling and how to try and make sense of the right way to go:

Are you feeling frustrated?

One thing that always makes ambitious people jump in to action is when they feel limited or frustrated in their role. This might come from not being listened to or from a desire to bank all the money you earn, not just the commission!

Try not to make any big leaps after one really bad day, as often you might not be thinking clearly and could regret your decision. Also, don’t leave to start your own agency just to spite your current company, as that ecstatic feeling of handing in your notice won’t last long.

However if you’re looking at your current company owner and feeling like that’s a job you can do (and a job you want) and you feel like you have the drive to make it happen, then it’s time to leave that frustrated feeling behind!

Have you built up enough experience?

After years in the industry, you might feel like you’re an expert and completely ready to face things alone. However though you know your industry, do you know the wider challenges of running a business?

Don’t worry if you don’t, as you can always learn! It’s a time to really do your research, and get as much advice as you can as you venture out on your own.

Are you ready to work alone?

Working alone might sound amazing if you’re facing challenges with colleagues in your current agency. But, working alone also has its challenges. 

Being productive and remaining positive when faced with issues for some can be tough when there isn’t a boss around keeping an eye on you!

However working for yourself is also highly rewarding. Though you’ll likely work long hours, you’ll have flexibility over your time and an unlimited earning potential. Try speaking to other self-employed people who work alone, to get a better idea of what it might be like day to day.

Are you up to the challenge?

Running your own recruitment agency is a challenge, there is no doubt about it. You’ll of course be used to working long hours, but running your own business is a little like working all the time!

Do you have the drive to find your own income each month? Do you have the strength to bounce back when you’re faced with an issue? If so, you’ve got this! Running your own agency is a challenge but it is also highly rewarding.

Do you have the money you need?

One of the most challenging aspects of setting up a recruitment agency, is the fact you’ll have to pay out for services long before you’re paid by your client. Therefore you’ll need significant savings in place to get started, or alternatively you can get funding to help.

New Millennia offer 100% recruitment financing so you can focus on growing your business. Get in touch for advice or to find out more.

Good luck – you’ve got this!

people figures one alone

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