8. Split Fees & Teamwork

Fill more roles using the power of split fees and partnerships.

Personal Thoughts: You can be the Michael Jordan of new business development, but it won’t matter if you can’t fill roles.

In this email 👇

The hard part is over, right?

At this point, let’s assume you were able to bring in a job order or two.

It won’t take you more then 60 seconds for this next thought…

How the heck am I going to fill this thing? 😅

  • Do I fill it myself?

  • Do I have even have the tools needed to fill this role?

  • What tools should I buy to fill this role?

  • Should I collaborate with someone and split the fee?

All valid questions and trust me when I say, we’ve all been there.

Teamwork makes the dream work.
V Busy GIF by MOODMAN

The #1 thing any business wishes they had more of is time.

This is accurate when starting a recruiting business too.

Typically 1 of 2 things are true:

👉 You’re really good at getting new job reqs.
👉 You’re really good at finding awesome candidates.

Even if you feel like your the goat at both - You’re not going to add more hours in your day so time is still the most limiting factor.

If you recall from a prior newsletter, The Blueprint to Success, you know I’m a big fan of teaming up with someone.

The reason I’m so adamant about working with someone is because business development is HARD WORK.

Chances are you’ve already found this out.

If you stall new business development, you’re going to get stuck in a vicious cycle that will be 3x harder to scale.

Why?

Your efforts are pulled into two different directions (sales and recruiting), making it nearly impossible to gain momentum in either.

💡Having a (smaller) amount of something, is better then having all of nothing.

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Steps to building a (great) partnership.

Taking a step back, here are 5-steps you can take to find your dream recruiting partner:

  1. Where to Search: Look for small agencies or independent recruiters who complement your niche or the niche of the job. People specialize in different industries and roles.

  2. Negotiate Your Split: Split fee arrangements involve sharing a client job order with another recruiter. One handles the client relationship, the other handles the candidates, and the fee is split upon a successful placement. My recommendation is splitting ~ 30-45%.

  3. Execute an Agreement: Before entering any partnership or split fee agreement, define clear terms. Discuss and agree on fee splits, candidate ownership, non-disclosure/NDAs, and communication strategy to avoid any misunderstandings.

  4. Build Trust: Successful partnerships are built on trust. Success is built on trust. Be transparent, communicate effectively, and deliver on your promises. If you don’t have trust, you don’t have much.

  5. Grow: Once you’ve had success, and trust is starts to grow, you now have yourself a real partner.

Here are 3 split-fee platforms you can use today:

🔥 Paraform - My favorite option to date.

🔥 BountyJobs - OG platform.

🔥 Upwork - Post a job, set compensation at 100% commission.

🎉 Checkout this FREE template to get you started!

What’s Next…

👉 Must have tools to run a successful recruiting business... 👀

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See you next week, friends!