QUESTION: Mike, I am stuck between $150,000 and $200,000 ballpark revenue the last 3 years, and I want to get to $300,000. What is the best way?
ANSWER: Well, the easy, easy, easy way, just based on metrics is probably to arrange one more interview a week. If you are at $150,000 to $200,000, my gut feeling is, and I am not beating you up, you are probably not tracking metrics. Most recruiters do not because they think they are adults and they do not need to track that minutiae. But the easy thing is to just arrange one more interview a week.
To make $300,000 is not that difficult in this economy. Whatever number you pick, whether it is a $1 million office or a $300,000 desk, is a choice. I gave you the practical answer. Now I will walk you through the mental process.
A $300,000 desk starts with a decision to make it happen. The technical answer is probably one more interview a week, per week for 50 weeks a year. If your average fee is around $20,000, will get you probably the extra $100,000.
So my main question when talking to solo recruiters and firm owners over the past two years is that the answer to this question probably lies deeper. My gut feeling is you do not have a reason to build the extra $100,000. If you do not address the the why, what will happen is, and I have seen people, they will do $200,000 by August or September, let us say we started working together in January, and then they will do almost nothing for the rest of the year because the thermostat kicked on. They were not clear with what the incremental revenue, going from $200,000 to $300,000, would allow for them.
What would you do with that money? Is it is something you are passionate about making happen? If not, forgive yourself and stay between $150,000 and $200,000. There is no shame. If you are a solo operator, you probably do not have a ton of expenses. You are going to be in the 5%, 6%, or 7% income earners in the country, 2% or 3% on the planet. But the #1 reason I see why people get stuck at a revenue range is lack of clearly defined outcomes of what the increase would allow for them that they do not have now. That is how you get comfortable.
However, here is the biggest challenge with comfort. You get bored. It is a curse.
The other thing, if you are stuck between $150,000 and $200,000, what I would tell you is get a hold of somebody on our team. Send us an email at Info@TheRecruiterU.com and ask about our Ignite Program for solo operators. It is a very high-end coaching and mentoring program.
It is not inexpensive, but if you want $100,000 that you have not been able to get on your own, how much would you invest to get that? Because people are “Oh, Ignite is expensive.” Yep. It is. I am not going to lie about that. However, if you give me a $1 and I give you $5 to $10 back, tell me how that is expensive.
So, if you really, really want to accelerate and you have identified the reasons to go to the next level and you are just not sure of the path, reach out to somebody on our team about Ignite and we can engineer a plan. Then it is going to be up to you to execute it, but we have some accountability checks and things like that built in place for you. Click HERE to speak with someone on our team.
Thanks. That is a great question.