In this episode of The Elite Recruiter Podcast, host Benjamin Mena interviews Mike Ames, who shares his experience of building and scaling a successful recruitment firm and later selling it.
Mike emphasizes the importance of working on your business by investing in yourself through courses, coaching, seminars, networking, and reading books. He suggests scheduling "purple time" to specifically work on your business, planning and developing strategies, and avoiding daily distractions that can keep you from thinking about the big picture of building a successful business.
Mike also stresses the importance of building a team to delegate tasks and boost revenue, as well as having a niche business to increase profits and become a go-to person in the industry. He discusses two types of businesses: scale for sale and cash cow lifestyle, and the pros and cons of each.
The speaker shares their personal and professional challenges in building a scalable recruitment business, including the loss of a colleague in an accident and leaving a company due to a change in direction.
Mike recommends using tools like Blinkist to read book summaries in 20 minutes, buying the actual book if you like the summary, and recommends "Outliers" by Malcolm Gladwell as it discusses the reasons behind success. He also mentions "The Organization" by Robert Townsend as a book that had a big impact on his way of thinking.
The speaker talks about the rule of 3, 4, and 8 when it comes to growing recruitment companies, and how it takes time and scalability to become wealthy. He warns against yo-yo companies that grow and then shrink when they can't get past the viable stage.
Overall, this episode of The Elite Recruiter Podcast provides valuable insights into building and scaling a successful recruitment firm and the importance of investing in yourself and your team to achieve long-term success.
Bio:
Over his career Mike has started, built and sold two multi-million pound recruitment firms with a combined sale value of $50m.
Both firms were built using a simple formula that does not rely upon big marketing budgets or for super-talented sales people.
He now runs the Flair Growth Consultancy working with owners of SME and micro recruitment firms who want to create a businesses that gives them the income, freedom and security they want.
https://www.recruitmentpioneers.com/
https://www.youtube.com/playlist?list=PLEAk1qCOXBtDNdR5KE8N8Zzh852pu5tfR
Mike Ames LinkedIn: Mike Ames | LinkedIn
With your Host:
Benjamin Mena with Select Source Solutions: http://www.selectsourcesolutions.com/
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