According to Companies House over 9,000 recruitment agencies set up in 2017. This growth is driven by the need for top talent as businesses sharpen their pencils for uncertainty and innovation.
If you are an established recruitment agency, this means two things:
- Growth Potential ££££
- Increased Competition
So what could you be doing to make sure your business is 2018 ready?
Get your tax and finances in order
In terms of business strategy knowing your finances means you can plan ahead to achieve your goals. No point having these big ambitions if you are struggling to pay suppliers. We don’t mean just looking at management accounts and historic data, we’re talking about real time information. We know that this is a pain but it’s worth it! Getting your finances in order gives you focus.
(We can help you do this with no effort… Free Business Health Check Report).
Understand your data
You know your financial position. Now have a look at your data for both prospects and customers. How is your pipeline looking? Do you need more leads, if so how are you getting them? What can you be closing? Carry out analysis on all prospects and customers and catogorise them into the stages of the buyer’s journey. You’ll soon know where you need to focus your efforts.
Set your plan
Now set your plan. How are you going to address growth? How are you different to your competitors? How will you keep your pipeline growing? How will you keep your people on-side while you grow and potentially struggle to cope with the workload? What systems could you be introducing to help… CRM, Payroll, Timesheets?
If your plans are clear, let people know. Your staff, your suppliers, your accountant. The more people bought into your business plan, the better success you’ll have to achieve your goals.
You are now ready for 2018. Do it!
Brookson Enterprise can help you understand your finances better, and what moves you need to make. Click here to get your free Business Health Check Report.