In this email 👇

• Finances. Don’t stress.

• Know the Game. Why fly blind?

• FREE Business Plan Template. Dotted line to success.

Runway.

🪂 Financial Cushion

Before moving out on your own, make sure you have enough money saved to cover both personal and initial business expenses.

Most articles I’ve read say to have 6-8 months of runway saved.

I’d recommend 12-16 months (especially in times like today).

Here’s why 👇

1. Let’s say it takes three months to close your first placement.

2. Then there’s a 90-day guarantee… (until your money is 100% safe).

3. Then, in case that wasn’t long enough, you’re looking at payment processing time to actually get the money from their bank account, to yours 😅 

This process could take 7-8 months, or longerrrrr.

The reason I recommend a longer runway is two fold:

1. The longer then expected, 7-8 month timeline mentioned above.

2. Your mental 🧘🏼‍♂️

Without enough funds saved, your mind will begin to wonder into solving a (personal) cash flow problem vs focusing on driving your recruiting empire forward and trusting the process.

Don’t wing it.

📈 Market Research

Looking back, this was something I could have done much better.

The better you define your ICP (Ideal Customer Persona), the better off you’re going to be… trust me on this.

When starting out, NICHE down:

• Industry

• Types of positions

• Recruiting model

• Title of the person you’re targeting, etc

Why?

1. When you do get your first job req, it’s (MUCH) easier to pro-market candidates within the same skill-set so you’re not spreading yourself too thin.

2. In case you’re able to get a 2nd job order, you already have a pipeline for that skillset (so you’re not starting from scratch).

3. It’s much easier and faster to master one vertical vs five.

Basically, narrowing your scope makes the task less scary in my opinion 😁 

Getting started, you’ll be tempted to take any job order, from any industry, just to make some money 💰

Do what you gotta do, trust me I get it.

But also know the more you stick to one-vertical, the faster the growth stage will be.

What’s the plan, boss?

📌 Craft Your Business Plan

Think of your business plan as your company’s DNA.

It's the blueprint to success.

A strong business plan allows you to see into the future (if done correctly), and solve problems you’ll inevitably encounter… before they even happen 🤯

Things like…

• How are you going to get your first job order?

• How are you going to fill that first job order?

• What makes you different/better then competition?

• What does success look like to you?

Next, I have a treat for you… 🎁

For years, I’ve looked far and wide for a recruiting-industry specific business plan template.

And guess what… I still can’t find one 🤣 🤣 

So, I made one 😁 

FREE for subscribers

🎉 RECRUITER BUSINESS PLAN TEMPLATE 🎉

What’s Next…

👉 How to build a successful business plan.

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See you next week, friends!