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Another start up question!
Author:	Recruiter 79
Date:	Friday, 14th Jul 2006 21:22
Views:	2,389 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Apologies for yet another start up query but here goes... CONTEXT I've been working the permanent IT recruitment market for a large well known organisation based in London for the last 4 years. Billings in recent years have been in the £200K - £300K bracket allowing me to take home approx £60K - £70K + Bens (car etc.). My personal billing performance in the last 18 months has been curtailed by my responsibilities training, developing and managing new members of the team. I've enjoyed this aspect of the role and have learnt a lot but like a lot of people on this forum have an itch that needs to be scratched. I'm thinking about going it alone. My plan would be to continue recruiting in the IT sector and focus on the technical market I know best. I'd initially work from home to minimise costs but would ideally like to end up hooking up with a like-minded friend and share some office space. We'd work independently of each other but would share banter, advice and some resources. My biggest concern at the moment is whether I can afford to do it right now? Most of the money I'd saved while permanently employed has gone into buying a property. As a result I am heavily mortgaged and have little in the way of savings. I could potentially sell the flat, release some capital and cut my monthly outgoings on accomodation (renting would be a lot cheaper than paying the mortgage!). Alternatively I could sit tight, work for another x months/years in my current company and save some money. The key question is - what are the start up costs and how much can I expect to pay in outgoings per month from then on? Cash flow could also be an issue as knowing the difficulties of starting from scratch and getting invoices paid i could be looking at 4-5 month before starting to see some income coming through. The outgoings I am legislating for include: -Website design -Phone bill -Broadband -Access to CV databases -Advertising Am I missing anything? I'm not expecting a definitive reply but any comments or advice would be greatly appreciated. Thanks Recruiter79

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Re: Another start up question!
Author:	paul
Date:	Friday, 14th Jul 2006 23:45
Views:	478 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

web site design - totally irrelevent. But you'll get aworking thing for 350 quid phone bill - from home? £20 pcm see talk talk etc BB - I pay £20pcm for 4 meg CV databases- for it? are you sure you'll find anyone in the country and/or speaking english? Then there's skills, usually important! Advertising - about £10 per vacancy per week per decent job board PLUS vat. - ish, for broad brush. Missing -branding (logo andall that), stationary, postage, electric costs, you have a decent computer, phone, printer, headset right?. Most important points: However good you are YOU WILL NOT GET PAID FOR FOUR MONTHS and - (drum role) Concentrate on bus dev, forget all the logo, web site shite. no client = nomoney, simple. Biggest barrier: You are with a well known company. When solo no one will know or care therefore you MUST 'fight them on the beaches' If you doit then in three years you think 'god I'mglad' BUT in 3 months you'll think ' fcuk me, I can't hack this shite' Been there, done it. Was it worth it----YES. Would I do it again? Like hell. Want more honesty? e-mail me and I'll drop the character switch from fcuk!!! Paul PS - just do it man, what do you have to loose? PPS - Congratulations on picking THE hardest area to crack solo - but not impossible with time and effort! right enough 'wisdom for one night'; now where's that can of special brew?

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Re: Another start up question!
Author:	APR
Date:	Thursday, 20th Jul 2006 09:59
Views:	427 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Well said! If you don't do it, you will continue lining your employers pockets through your talents, and who knows what can happen if you do do it! - lots of cash hopefully.

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Re: Another start up question!
Author:	Jlda
Date:	Thursday, 20th Jul 2006 13:18
Views:	463 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

When I started, I alway had in mind that if things went pear shaped, I could always market my cv as a rec to rec recruiter and make a fee - if your overheads are low(ish) that thought can buy you some extra time....

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Re: Another start up question!
Author:	recruiter79
Date:	Sunday, 23rd Jul 2006 00:25
Views:	456 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

thanks guys for your replies. Going "pear-shaped" doesn't really apply. Dont want to be one of those people who becomes bitter about the big company that gave me my first opportunity. I actually love my big company (S3) and will leave without a bitter bone in my body - too many good memories to be bitter. Just a quick question - when everyone started off with their one man bands did you just want to stay one man bands or want to expand? I think there is a big difference in terms of how you approach your business. I think going into it with the intention of staying small is 100% honourable but would be keen to hear from people who went into it solo with aspirations of growing... thanks again, hopefully i havent alienated anyone by saying im from S3!

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Re: Another start up question!
Author:	Stephen
Date:	Wednesday, 26th Jul 2006 20:07
Views:	476 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Hi There If you need any pointers I have a few on www.recruitment-views.com my blog for the industry. One way I can save you some money at the start is your website, as I know how you can get it sorted for free or I have a good friend who can do it cheaply for you if you want. If you want to give me a call I am more than happy my direct number is 0161 408 0505. And as a few others have said best off luck, it will be the best decision you will ever do. Regards Stephen Fowler

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Re: Another start up question!
Author:	Tom Atkinson
Date:	Friday, 25th Aug 2006 15:28
Views:	450 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

We can help with all the back office administartion, payroll and iinvoice funding and avoid the months before you get paid. See www.cashsimply.com

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Re: Another start up question!
Author:	Darren Revell
Date:	Friday, 25th Aug 2006 15:41
Views:	520 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Your costs needs to be calculated as your basic overhead to live, and then role that into your average deal. I have nearly 20 years in giving business advice to recruiters, and if you have a quality perm IT person then someone in the market will buy them. Cash flow will be solved by firms like cashsimply and other factoring firms like cash friday. Websites are a red hering, no one is very going to find your site unless you pay 100k to optimize it, so forget issues like websites, IT, business cards etc and just concentrate on finding the one person in the market 10 companies need. In 30 days you will have a sale, and in 60 days you will have 10k how expensive can your flat be?

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Re: Another start up question!
Author:	Gary Anderson
Date:	Tuesday, 29th Aug 2006 11:38
Views:	485 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Can you let me know where you're located? If it's reasonably close to where we are (near Harlow, Essex) we can take you through everything we've learnt from the last few years.

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Re: Another start up question!
Author:	rec2rec bod
Date:	Thursday, 31st Aug 2006 11:51
Views:	437 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Wish you all the best... Talking to candidates that have done start-ups, the real issues for those going it alone - lack of presence / advertising budget / brand etc... also the lack of company and the impact that working from your kitchen table can have on your life... Just to give you other options that would allow you to stockpile more cash for a couple of years: If you can bill 300k with one of my better clients you'd earn 100k+ ... and with the dedicated resourcers and research they provide (they're a Search firm that use researchers to headhunt and map out firms even in the contingent market) you could be knocking on the door for 400k billing... I also have two other client companies that are set up by ex S3 people - so you'd be in the company of those who appreciate the environment (I have a very healthy respect for the S3 business, but there often comes a point when people out-grow them) Both these firms mentioned above offer share options and intend to sell-up within 5 years, and offer 25-40% commission... so you could earn significantly more whilst preparing for the big bang, even if you didn't stay that long... Best wishes...

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Re: Another start up question!
Author:	Marshall82
Date:	Thursday, 14th Sep 2006 00:03
Views:	426 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Hi, I'm an S3 perm recruiter in a similar situation. There are 4 of us looking to set up on our own and are looking at legalities and costs at the moment. Does anyone have advice, particular on the legal issues of approaching clients that we knew through our previous company and leaving one agency to set up on our own together? Thanks,

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Re: Another start up question!
Author:	Ed Fowler
Date:	Thursday, 14th Sep 2006 12:07
Views:	448 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Hi Marshall82 If you are serious about setting up a recruitment agency with your colleagues I would like to talk to you off forum with an option that might be worthwhile considering which would help to keep your costs to a fixed minimum with maximum benefits. Unfortunately your email address comes back as undeliverable, hence my posting here, so to discuss this further just email me or post your details here and then perhaps we can have a chat. Kind regards Ed ed@additionalresources.net 01494 727714 07970 212377

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Re: Another start up question!
Author:	In The Same Boat
Date:	Thursday, 14th Sep 2006 16:10
Views:	423 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Marshall82, I set up a couple of years ago - if you want any info drop me an email off forum. I'll be happy to help you along

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Re: Another start up question!
Author:	Tom Atkinson
Date:	Sunday, 17th Sep 2006 19:26
Views:	422 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Hi Marshal82, your e mail bounced back so I use the forum for the note I sent <http://www.permssimply/> can help you with cash as soon as you make your first placement, bad debt protection and administration and give you rebate terms which allow you to outsell your recognised brand competitors. We are not lawyers but we have lots of contract covenant experience. We support new start ups like you all the time Please feel free to call the Perms Simply number or me call on my mobile 07973 601 261 if you prefer. Kind regards, Tom Atkinson.

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Re: Another start up question!
Author:	Chris
Date:	Thursday, 21st Sep 2006 15:04
Views:	445 (excluding Digests and RSS feeds)
Category:	Other
URL:	http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=2053

Hi mate, Thats a fantastic thought of setting up something of your own. We can help you in the right way in reducing your costs and extending your staff. We are a staffing solutions company based in India and we also provide recruitment process outsourcing services (whic include CV sourcing, CV writing/formatting, CV processing, CV Retriva, Business Developemnt, etc.) primarily to the UK Recruitment Companies. By outsourcing your non core activity like CV sourcing which is very important and consumes 60% of time of recruitment lifecylce, you can achieve excellent service and save thousands of £££s. For further information you can email me at chris@vikasa.in Regards, chris

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