Business advice

August 11th, 2010

I was interested to read John O Sullivan’s recent article in Recruitment International.  I say article – it was more of a thinly veiled advertisement for Elite Leaders – an organisation that I have the utmost respect for I hasten to add.

He says that the revelation that 70% of recruiters prefer business advice from someone with a stake in their businesses turns best practice on its head.  Really?  I’d be interested to know how many NEDs of recruitment businesses have an equity stake – my guess is that it would be a fair few.  Perhaps someone should do a survey of recruitment companies lists of directors at companies house – in fact perhaps that will be our next one!

In his article John states that by preferring a stakeholder over independent advisors, recruitment firm owner managers are flying in the face of corporate governance best practice. Oh come on now.  Big publicly quoted companies’ maybe – not SME recruitment firms.

However, the one thing we do agree on is that recruiters are disillusioned with independent business advice because of a failure to deliver on promises. I couldn’t agree more John.

What do others think?

Tags: ,
Posted in business advice | 2 Comments »

Lifestyle business or growing business?

August 2nd, 2010

We recently undertook a survey of sme recruitment owner managers and found that almost 70% favoured a sustained partnerhsip approach from someone working within the business to help them with growth and exit strategies. The survey of 525 owner managers of SME recruiters asked a range of questions about business support and advice.  68% of respondents said that they preferred an ongoing business partner with a stake in the organisation that could provide advice or input at any time.

Now we all know that here are a lot of forums, networking clubs groups and support groups around but they tend to be peer to peer.  While they have their place there is nothing like having a really experienced mentor – who also has a financial interest in your business – contributing to your decision making day in day out.

When asked about the value of Non Executive Directors almost half of recruiters (54%) felt that they had their place but that often they were too ‘light touch’. One respondent pointed out that while it’s always good to have another pair of eyes looking at the business - it shouldn’t be not just once a month at board meetings.

The survey clearly shows that what today’s recruiters want is someone who will work closely with both the directors and the team, creating shared insight and vision as well as realistic and achievable goals. We’ve never endorsed the one-size fits-all model and do not have an “off the shelf ready made solution” that every person and business must fit, What I believe we do have is a passion for ensuring that our investments thrive and our transparent programmes have strict milestones and measures at every step of the way.  While our critics may talk of our investments having to ‘sacrifice’ equity, all the organisations in our portfolio recognise that 100% of a lifestyle business versus a majority and controlling shareholding in something that will get much bigger is a no brainer decision!

What do you think?

Tags: , , , , , , , , ,
Posted in business advice, entrepreneurialism, exit planning | 1 Comment »

The recruitment crystal ball

July 16th, 2010

We recently hosted the UK Recruitment Directors Networking event along with Louise Triance  where my business partner in HB RIDA, James Caan, addressed an audience of over 70 recruitment directors about his views on the future of the industry.

He encouraged recruitment professionals to embrace the benefits of technology and on line recruitment but not to forget the fundamantals of just picking up the phone. Technology is a tool but sometimes it can over engineer the process! The fundamentals of recruitment are fairly simple.  You have candidates, you secure them interviews and offers, you make placements, you bill and then you collect! And collection is key. The difference between profit & loss and cash is the single biggest disconnect in this industry.

And what of the most buoyant markets in the next 12 months?  James predicts manufacturing, healthcare, IT, financial services and outsourcing all to be positive and he also  pointed out the real opportunities afforded by welfare to work

Addressing the issue of the wider economy, James felt that there was still some way to go before we could really talk about a sustained recovery but thought that there would be a real upturn in the second half or 2011 as the market is often driven by events. The optimism and confidence surrounding the Olympics is likely to  give the market a real boost and Hamilton Bradshaw will be looking to invest in businesses aligned with the Olympics.

So what’s your view? What markets will or have already blounced back? Share your thoughts and comments.

Posted in business advice, entrepreneurialism | No Comments »

So what makes an entrepreneur?

June 1st, 2010

I was reading Dan Martin’s excellent blog the other day on Business Zone - well worth a read if you are interested in the SME market and entrepreneurialism. He was remarking on how many definitions of an entrepreneur he had come accross over the years but he wanted to share one he had seen from Chris Oakley – Chairman of web design company Chapter Eight and I thought I’d share it too:

“An entrepreneur sees an opportunity which others do not fully recognise, to meet an unsatisfied demand or to radically improve the performance of an existing business. They have unquenchable self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way.

“They are not diverted or discouraged by skepticism from ‘experts’ or from those from whom they seek backing and support, but willing to weigh all advice and select that which will be helpful. They are prepared not just to work seriously hard but to back their judgment with personal investment at a level which will cause problems if they are wrong about the opportunity. They understand that achievements are the result of team work and knows how to choose the necessary blend of talents and inspire them with their vision.”

Well said – what do you think – I’d be interested in your thoughts.

Posted in entrepreneurialism | 3 Comments »

What makes a good leader?

April 8th, 2010

I thought it would be good to share some of James Caan’s thoughts on leadership . James has a regular column in The Daily Telegraph Business Section and in his latest column he argues that failing to spot strengths is a leader’s biggest weakness.

“Leadership isn’t just about having the specific skills for a specific task”, he says. ” It’s about how you apply yourself and translate what skills you have to different situations.”

James gives the example of Jay Cholewinski, a director of Webrecruit, one of our portfolio companies. Webrecruit is a flat-fee online recruitment agency that is enjoying its most successful year to date. The team has almost doubled in size as it embarks on ambitious expansion plans.

Jay promotes shared responsibility within his team and has fostered a working environment where ideas flow and staff are encouraged to contribute ideas.

James also cites me as an example but I am much too modest to write about it on our own blog – but you can read it here. I’ll try not to blush!

The recruitment sector undoubtedly needs more strong leaders – what do you think are the qualities that a good leader should posess – we’d be interested in your views.

Tags: , , ,
Posted in business advice | 2 Comments »

Have you had your business mot?

March 10th, 2010

We may be offically out of recession but for SMEs it is often the recovery which poses the real problems. Activity levels increase which means that headcount may need to increase to cope and that can be a drain on resources. So how do you knmow if your business is fit enough to cope with the recovery? By having an MOT!

A business health check analyses the critical success factors as well as other core elements and is a key factor in helping a business to grow.

Areas covered are:

People, management and culture
Resource
Compliance
Innovation
Marketing & Sales
Operations & Systems
Finance
Strategy & Growth (past, present and future)

By asking key questions, a business health check can help you identify your strengths and business improvement needs, helping you to focus your valuable resources on activities that deliver the best results for profitability and increased market share. To find out more click here

Posted in business advice | 7 Comments »

Like the idea of helping recruitment businesses to grow?

February 10th, 2010

We launched HB RIDA, an  investment business that focuses exclusively on the UK recruitment sector, less than a year ago. Backed by James Caan we invest in owner managed recruitment businesses and then work alongside the owners to accelerate growth and increase shareholder value. We’ve already created a portfolio which boasts a £25m + turnover, over 100 consultants and a consolidated EBIT of £2.8m. In order to achieve our £40m turnover target during 2010, we are looking for an Investment and Operations Director to work with the Board and support our growth plans. The role will include portfolio management in terms of training and development; investment analysis and recommendations, and management consultancy delivery.

So what sort of person do we need? A proven track record in the recruitment industry is a must as is hands on experience of growing a recruitment business at an operational level. You’ll need to be able to deliver effective business solutions to the portfolio. You’ll be a great networker and able to forge strong relationships with owner managers, their staff and suppliers to the industry. You’ll also need a driving licence as althought the role is based at our Mayfair head office, you’ll be travelling throughout the UK.

Interested? – e-mail james@hbrida.com with a CV, covering letter and salary expectations.

Posted in vacancies | 6 Comments »

Do you suffer from the Porsche and Rolex effect?

January 29th, 2010

The challenges faced by entrepreneurs both in the recruitment sector and the wider business arena, are many and varied but most have two burning issues: creating value and exit planning.

One of the biggest mistakes made by entrepreneurs is what my co-director Chris Ledbury calls the ‘Porsche and Rolex effect’. This typically happens in year three of a new business where years one and two have been very successful. Instead of keeping a ‘war chest’ which can be used to invest for growth, owners reward themselves for their success and hard work – but it’s just a tad too early! If you want to create real value and work towards an exit strategy then, it’s vitally important not to rape the business of all its cash. Read the rest of this entry »

Tags: , , , , , , , , ,
Posted in business advice, exit planning | 2 Comments »

So where do we go from here?

January 29th, 2010

There is no doubt that the recruitment sector is one of the most entrepreneurial industries this country has, but for many owner/managers, the recent market conditions have meant looking beyond just their own experience for solutions.

 During my career both as a front line recruiter, and as Acting Chief Executive of the REC, I met many businesses at differing stages of growth, which had differing sets of challenges – and which consequently needed bespoke levels of support. Some organisations may just need a fresh perspective on what shape their business is in – a ‘business health check’ to review at a whole range of issues including people, procedures, sales, finance, marketing strategy and growth.  Some may need intensive assistance to help them evolve, develop and prosper. Others may be just starting out and therefore need business support in the early days.  Read the rest of this entry »

Tags: , , , , , ,
Posted in business advice | 3 Comments »

Welcome to the New HB RIDA Blog

October 23rd, 2009

 

Welcome to our new blog from yours truly Helen Reynolds, Managing Director of HB RIDA. I hope you will enjoy reading it. We’ll be posting regularly about the recruitment sector and would welcome your feedback and comments. We want to enage with as many recruitment businesses as possible to get a true picture of what is really happening out there so don’t hold back – engage, discuss, argue!! We’d love to hear from you.

Tags: ,
Posted in Uncategorised | No Comments »

Page 7 of 7Previous First...Previous34567