1:55

Ross Clennett - strategy 1 16:9

April 04, 2024

Video Transcript


When you're looking to grow, you're only gonna do that leveraging the existing resources. So, resources such as cash, the people that you've got, the database that you've got. Because to give you a specific example, a recruitment agency owner goes: "Oh, I've got this opportunity to hire this person to start a new division. It's gonna cost me $150K say to bring this person in salary, plus guaranteed bonus for dadadada. They've got all this network. So, I might say: "Ok, great. So, what sort of existing database do you have for that person to work with?" "Oh, nothing." "Ok. So, you're gonna pay them $150K and they're gonna have to create a database from scratch?" "Yes, that's right." "What about your existing database? How well do you think you're utilising the candidates there?" "Uh, not very." They go: "Ok." So, an example. "So, of the candidates in your database. So, firstly, how many might you have?" And they might go: "Uh, 15,000." "So, how many of those would you and your team have contacted in the last 12 months?" They go: "Hm, maybe 1,000." "Ok. So, you've got 14,000 people on your database that you've not spoken to for 12 months. So, do you think it's better to spend 150 grand on the salary of someone to try and create a database from scratch of candidates and clients? Or do you think it might be better to pay $80K to have someone just ring all your candidates and try and generate candidates who are now active again?" "Hm. Ok. That's a good point. I hadn't thought about it like that." So, that's what I mean by resources, having someone think a little bit differently. Great, if they got $150K to invest in a salary? But what if they invest at $80k and use their existing resources within their database?



Produced with Vocal Video