Guest blog from Simplicity.

You’ve set up your recruitment business… Now what?

So you have taken the all vigorous leap and started your own recruitment business, and now you are asking yourself – what should I do next? Setting up your business is a daunting time, so here are the next steps you should take as a recruitment entrepreneur.

Create a plan

A business plan should be in place before you even register your business. The plan doesn’t have to be massive, just enough to get you on your feet with as little stress about the next step as feasible. Moreover, map out where you want to be in the next 12 – 36 months. There is no need for complications within the plan; make your goals clear. This will also help you in the future; when your business progresses and grows, you must adjust your plan to your growth. Another tip for creating a business plan is setting realistic goals. For instance, you wouldn’t be able to run a marathon after training for only a week.

As you get excited to get started, you may overlook some important factors; however, if you take a step back and analyse your current position, you can then produce a quality, realistic plan.

Start-up costs

At this point, you must evaluate the initial start-up expenditures and the costs of maintaining your new recruitment business. First, you’ll need to decide where you will be based – will you work from home or hire an office?

In addition, once you have set up, you will need to buy some necessities. You may already have some and some are free, but these are the items you’ll most likely need before you open:

• Mobile phone
• Laptop/computer
• Website software
• Domain and website
• Brand design, advertising and print costs
• Insurance
• Company LinkedIn/LinkedIn recruiter
• Job Board costs

All these little expenses add up, and before you know it, you are dipping into your personal money pot. So make sure to plan these expenditures into your cash flow and finances.

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