Starting your own recruitment business? - Are you really ready for the challenge.

Starting out on your own leaving a well paid job is always a challenge. Different people may do it for different reasons. We started "Vividity Consulting" more because we felt that there was a huge gap in the way existing recruitment consultants operate and the way services were being tendered both to the client as well as the candidate. I do not want my statement to be misconstrued as generic and applicable to all consultants but almost 95% placement consultants would definitely fall in this bracket.

Risk is inherent in any business and so is the case with recruitment too. Money is just one of them!

There are couple of additional points which come to my mind which need to be taken into consideration before starting up:

1) Most basic of all - How are you different?
This is more to prove to yourself rather than to your client. Because, unless there is some value add or differentiator, you are just one more "Nobody wanting to become Somebody". At Vividity Consulting, majority of our recruitment happens from/within our network and thus we are able to provide a distinguished set of headhunted profiles to our candidates which are not usually available on job portals.

2) How deep are your pockets?
I would not rate it as the most important criterion, but having some money set aside to serve as your war chest is not a bad idea.

3) Is your business plan in place?
It is usually a good idea to have a business plan in place. Most people do not usually take it seriously or decide to postpone it to a later date in future once their business has grown to a substantial size. This is like boarding a bus without knowing the destination.

4) Do you love uncertainty?
It is a tremendous challenge not seeing that regular inflow of salary in your account if you have given up a handsomely paid job and started out on your own. Every business has its gestation period and hence the entrepreneur(s) need to be ready to accept this hard fact. In recruitment, the payment cycle is extended and hence one has to keep putting in the efforts without seeing any money for significant amount of time at worst.

5) You feel that starting on your own will come with luxuries?
Sorry!, there is no easy money to be made, no comfortable lifestyle, no limousines...hmm.. at least not for the coming few years. The fact is the first few years would see the entrepreneur(s) putting in extended hours, sacrificed sleep and virtually no vacations. For some, it may be a deterrent and for some its the motivation to grow. It all boils down to the fact - "Do you have the passion and the patience?"

6) Are you a people's person?
If your answer is not a definite yes, you might be better off exploring other avenues. This business is all about people (clients, candidates, employees).Hope that offers some food for thought!

Please feel free to revert back with your suggestions / agreements / disagreements.

Cheers!!

Gagan
Chief Consultant
Vividity Consulting
http://www.vividityconsulting.com
http://www.vividityconsulting.blogspot.com