Streamlining Your Invoice Structure for Staffing with airSlate SignNow

Invoice structure for Staffing

all right so let's review how you can start your own recruiting business your own staffing firm from scratch as a beginner if you're watching this video safe to say that you've been intrigued by recruiting maybe you have a friend a relative or a neighbor that you know owns their own recruiting business or has been a recruiter and it's really piqued your interests you see their lifestyle and you're wondering how can i do this on my own i'm going to break that down for you and show you the best way to start your own recruiting business from scratch where you can earn ten thousand dollars plus every month at income like i've done for the past 27 years in my career so i'm russell leibowitz i'm the owner of recruiting me i'm the owner of connectgen.net my other staffing company where i focus on the wireless telecom space so when you first start your recruiting business the equipment that you'll need which is the best part it's very inexpensive to get started is a cell phone a laptop or pc and i would recommend having a few monitors because you're going to be toggling between linkedin resumes and word and your email that's the best and most efficient way to operate so pretty pretty simple right computer cell phone those three monitors let's talk about the niche that you want to get into you're probably wondering you know if i if i get into recruiting which industry am i going to service so here's the top three that i would recommend that you look into number one is medical anything medical there's a high demand right now post covid for medical skill sets number two would be it it has been the best proven thing for many years there's so many staffing organizations and recruiting companies making millions of dollars within it and trying to pick like a micro niche with nit maybe it's cyber security for example that's a great industry to get into and number three because of the supply chain being so at risk right now warehouse and light industrial is a phenomenal booming industry there are so many jobs available high demand for hiring good skill sets there which means when you call on those companies they're going to need you they're going to need a recruiter and you can start earning some money all right so let's jump into the different billing structures how am i going to bill when i get my first client and the way you'll do that is the traditional head hunting where you charge a direct hire fee that's where i'd like for you to start um you can charge 25 maybe 20 or 30 percent of the person's salary so if you place a project manager with one of these companies you're going to pitch 20 for example for a maybe a hundred thousand dollar salary uh skill set and you'll make twenty thousand dollars okay so when you get that twenty thousand dollars we're going to reinvest it into contract staffing which is the second type of billing structure within recruiting so attempt to hire try before you buy you may have heard of this that's most companies that i've started the three companies that i've started scaled operated and sold was contract staffing it's a very lucrative model because it's residual income you're constantly getting paid while you're doing other things i talked to a lot of real estate agents during the week who understand the value in that so if you're a landlord if you own properties imagine owning a recruiting business and having consultants on billing every hour you're billing maybe 40 bucks an hour paying the um your candidate your employee 20 an hour there's a 20 spread there that you're making every hour so that really builds up builds momentum builds income and it's a very sellable model if you want to exit your company down the road all right so the third one is engage search which i love uh with engage search it's direct hire you're gonna negotiate a fee like 20 25 percent of salary but you're gonna have your client pay you a small fee upfront an engagement fee whether it's two thousand dollars or three thousand dollars and that's going to be refundable on their first invoice so there's no reason a client can argue that okay what this does for you it creates a stronger bond and partnership with your client if your client is willing to give you two thousand dollars today to start that search what you're getting is a committed client someone who's already invested in you and your search and values what you and your team are gonna do which means when you find them a candidate which can take a while and you and you submit that candidate over to them they're going to move on that candidate they're going to interview that candidate and get that person to the finish line so you can get your bigger check get paid and move on to your next search love the engaged search model the last one is what i'm currently doing for my staffing company and this is something you can progress to over time as you learn the business is retained search and that's when you charge big fees of like fifty thousand dollars one hundred thousand dollars i just actually earned a one hundred thousand dollar search fee you can watch that on one of my videos here on my channel and this is when you get a payment upfront which is also great it's a third a third and a third all right so it's performance based but primarily retain search is focused more towards key leadership roles within an organization c level vp level and above great model that you can progress into all right break all right so how are you going to start how are you going to find your clients right you're probably thinking i got to find a client i got to get a search wrong what i want you to do is focus more on your candidate pipeline candidates are a wealth of knowledge they're easier to build relationships with in the beginning since you're new to the business so make it a goal every monday through friday to have five to seven maybe ten quality conversations every day with passive job seekers what i mean by that stay off the job board stay off indeed zip recruiter career builder craigslist a lot of saturated active job seekers that you don't want to get involved with right now you want to call into companies and leverage your free linkedin account your linkedin network to do some searches connect with these candidates whether it's in medical i.t or a warehouse and start doing zoom calls with them introduce yourself let them know you want to be their recruiter to help them in the future if they're ever looking for another opportunity would you want to hear about it ask them that question they're going to say yes okay most people will always tell you yes if you have a great opportunity it's paying them more and can advance their career they're going to want to hear about it so cultivate a strong relationship with these candidates and guess what candidates are going to give you so much information on the client side of the house so candidates will know which hiring managers are hiring within their organization which ones use staffing companies which one use contract employees so so much to glean and gain from building candidate relationships so start there build your candidate pipeline every great successful recruiter in the world has a strong sustainable candidate pipeline in their crm that's where you should start hope that helps guys