They say that the best entrepreneurs are risk takers — high rollers who are prepared to go all in on a business gamble and throw caution to the wind.
The reality is quite different. While there is always a certain leap of faith in starting a venture, the best business leaders know how to minimise that risk, giving them the best chance of success. Many recruitment professionals with at least a few years’ experience in their field will have at some point thought about starting their own agency. What's stopping them is usually all about risk.
Joint ventures are a tried and tested, but still relatively unknown way for recruitment professionals to make the leap to business ownership, without the associated risks of starting out alone. The Recruit Venture Group already partners 49 separate recruitment businesses up and down the UK through its joint venture model which is unique in the marketplace.
The model is set up precisely to help recruitment professionals into business ownership who previously thought the risks and the barriers were too high.
Here’s six ways The Recruit Venture Group’s joint venture scheme reduces risk for recruitment business start-ups:
1: They offer 100 per cent of the finance
There is no need to remortgage the house, take on risky loans or live off credit cards month-to-month – the Recruit Venture Group provides all of the finance needed for launching the recruitment business. This money is offered risk-free, and at a level which will give the business the best chance of success.
2. All of the back office support is covered
The expense of setting up a recruitment business, such as the hiring of staff, branding, and fitting out and renting an office, is just the start. What about someone to look after accounts, payroll, HR, legal and compliance, IT and marketing and PR? Individually, these services combined can cost thousands per month – all drains on revenue before even thinking about profitability.
But The Recruit Venture Group takes care of this back office burden with a team who are experts in all aspects of recruitment business administration. Cashflow can then be freed up to focus on recruiting and revenues, reducing the risk of running into money trouble.
3. Do what you do best - from day one
Offering 100 per cent of the finance and all of the back office support also allows up the joint venture business to start generating revenues from the day of launch.
The Recruit Venture Group wants the talented recruiters it partners with to get out into the marketplace and drive the business forward. Being stuck behind a desk dealing with a pushy bank manager or trying to sort out an IT problem does not help the business to grow.
Being able to focus on building clients and candidates from day one gives the joint venture model a huge advantage over starting the business solo.
4. Mentoring from industry experts
One thing holding many small businesses back is lack of mentoring and experienced support. The Recruit Venture Group has a senior team who have decades of experience in recruitment behind them, across various disciplines and sectors.
For any new business, that support can be difficult or expensive to find, but with the Recruit Venture Group, the expert advice is an integral part of the model, and always available at the end of a phone.
5. Supporting growth
In business, you can’t stand still, but it is well known that the UK has a problem with business growth, or ‘scaling-up’, as it is sometimes known.
That’s for a variety of reasons, but often comes down to not having the finance, the back office flexibility or access to the right advice and support. But with The Recruit Venture Group, growth is built into the business plan from conception. The business recruitment entrepreneur can expand the enterprise, knowing the financial, administrative and other support will be there to accommodate it.
6. It's not a franchise, and yet...
Franchising is often seen as one of the best routes into running a business because it minimises risk. The Recruit Venture Group’s joint venture model is not a franchise, but offers many of the advantages.
For example it is an established model, offering a framework which is already supporting 49 successful and growing recruitment businesses. But the key advantage over franchising is that this is very much the new entrepreneur’s business vision, with their brand above the door. It is their recruitment business legacy they are building, and there are no limits to where they could take it. They are not hamstrung by the rules and regulations of the franchise, but retain much of the risk-minimising advantages.
To find out more about The Recruit Venture Group, visit www.recruitventures.com