I had caught their attention due to the skills and knowledge I had accrued as a top biller in recruitment. Tempting as they were, I resisted those offers and decided that the ability I had might be best applied to my own business and Compass Point Recruitment was born.
I came back down to earth with a bump as it quickly became apparent that being a strong biller with an excellent placement ratio involved an entirely different set of skills to those required to run a recruitment business. The success I had enjoyed as a consultant did not necessarily translate to an aptitude to run my own company and I had to learn a whole new set of skills and increase my knowledge to succeed.
Keep learning
My message to any budding business owner is that, at the start of your journey, it is impossible to have all the abilities you need. I have spent time ensuring my knowledge base has increased by attending MD owner courses and building a strong network through director’s groups.
Now, as I approach my 30th year as a business owner, I’m able to reflect and acknowledge that when I had ability across all my essential core areas it led to success. When the market was buoyant and I was fully staffed with experienced, trained key people, the business did well. Where I most needed to draw on my skills and expertise was when I first set up the business and in the post-COVID world. These have been key times when I needed to ensure my ability and knowledge base were strong.
Outsourcing skills
Another important ingredient for success is recognising when I need to rely on specialists for other skills. I use a marketing specialist to write my blogs and manage my social media, a professional photographer for images, and I work with an accountancy practice that manages all my finances.
A professionally produced report on my main financial performance indicators has put a stop to the 3am googling in a vain attempt to learn something that has taken a professional four years of study and numerous years of hands-on experience to master!
Another thing I have learned is that recruiting successful billers, team leaders, and branch managers from my competitors, isn’t a guarantee of their ability to be successful in my business and fit with the Compass Point Recruitment values.
Three key takeaways from my 30 years as a business owner:
Continue developing your core discipline to ensure you are fully proficient in your core skills.
Utilise other skill sets and leverage individuals who are experts in their specialisms.
Do not be mistaken in thinking your competitor’s key employees will have the correct transferrable skills and abilities for your own business.