This is an excerpt from our Top 10 Mistakes Recruitment Start-ups Make (and how to avoid them) e-book download. You can download that now, for free, here.
This suggestion is from the SSG’s Technical Expert, Chris Ion:
One of the most exciting things about having your own business is having your own business premises: A place to call your own, a place to conduct business and grow your team.
It’s important, though, not to “put the cart before the horse”, and to do things at the right pace.
Many new business owners forget that most business operations can develop and sustain themselves without a physical office – and as a result they get themselves trapped in an expensive multi-year lease. Unless you’ve got significant financial investment, your business is best off by growing at home, until you have sufficient capital to get an office which will serve you and your business for the long term.
About managing your overheads – make sure you only recruit staff for your business (particularly non-billing staff) only when your revenue consistently allows. It’s clearly a wonderful thing to build a team, but you need to do things in a slow and steady manner, to avoid the burden of their wages and associated costs crippling your business.
Here at SSG, each of our clients has a member of the management team dedicated to helping them grow in a sustainable and ambitious way, whilst minimising the risks – an incredibly beneficial part of our offering which leads to a far higher level of success.
So, my advice is simple, grow your business, earn and achieve – but always look to see both sides of every investment you make, and the costs.