You need to carry out your own, robust research before starting up. Even if you feel confident that you have the skills and the know-how it may be that the market is already saturated within your target area and market. If you want to improve your chances of success, you need to know who your competitors are, what they offer, who they offer it to and for how much! A thorough competitor analysis is an essential part of your planning process.
How will you separate your selves from the competition? First of all you need to know what you are up against but secondly you need to be able to articulate the unique selling points (USP’s) for your business and how they will differentiate you from the competition. Simply saying that you are an ethical, caring recruiter isn’t always enough these days. Think outside of the box and be innovative… What else can you offer? Look at your niche, rates, rebates and value adding services.
Alison Kennedy is MD of Recruitment Business Solutions. She offers a free 1 hour phone consultation for start up recruitment businesses and also has free business planning tools available. Too find out more or to book an appointment contact her at; info@recruitmentbusinesssolutions.co.uk
