How to Take the Leap from Staffing Agency Employee to Entrepreneur
You’ve been working at a staffing firm for many years now. Through this position, you’ve become well-acquainted with the ins and outs of the business, including many of the realities and challenges of running one. You’ve been idly wondering what it would be like to leave behind your job and steady paycheque. You’re thinking about starting your own staffing business.
How do you start a staffing agency?
Starting a staffing agency requires capital, a business plan, and more. You’ll need to consider things like your location, your branding, your business structure, and the technology you’ll use to source candidates and place them. You have several advantages, however, including the experience and expertise to take the leap.
From Employee to Staffing Agency Owner
The first question to ask is what’s holding you back from starting your own agency? For many, it isn’t a lack of know-how or ability. In fact, you probably have most of the expertise and knowledge you’ll need at your fingertips.
Some people might say capital is holding them back, and is often a challenge for staffing agencies that are just starting out. You’ll need capital in order to rent or own an office location, and to find the technological solutions you need to ensure things keep running smoothly. Cash flow and payroll are major concerns.
For most people, however, fear is what keeps them from taking the leap from employee to staffing agency owner. If you leave your job for entrepreneurship, you’ll be leaving behind a steady paycheck and any benefits you had.
For the few who are bold enough to leave behind the comfort of a regular, nine-to-five job and trade it in for entrepreneurial adventure, it’s most certainly worth it.
There are many steps you’ll need to take when starting your own staffing agency. Writing a business plan and securing capital are two of the most important. In the business plan, you’ll need to outline things such as your vision for the future of the business. You’ll look to branding and marketing. What makes your business stand out?
The logistics will also need to be investigated. Where will you be located, and which industries will you serve? How will you find candidates and place them with the right employers? You’ll also need to look at business structures and other administrative aspects of the business.
With your expertise and network of contacts, however, these steps are much less daunting. You don’t need to worry so much about who to contact for capital or where you’ll find clients and candidates. You likely even know some people who can provide services.
Partner with a Back Office Solution Provider
One of the best partners you can find when you strike out on your own is a back office solution provider. They can help you manage many of the nitty-gritty aspects of running your business. A total back office solution helps many staffing agency owners face some of the most common challenges in the industry.
The solution provider can help by providing the right technology and administrative assistance, such as help with payroll, compliance monitoring, and accounts receivable. In short, the back office solution can help you get off the ground so you can focus on the front-end of your new business.
With a back office solution provider, your own expertise and experience, and your network of contacts, you’re well-positioned to leave behind working for someone else’s staffing firm and become the owner of a successful staffing agency.
If you’ve been hesitating, now’s the time to take the leap.