Newton Colmore Consulting – Two Years On…
With the new year in full swing, SSG had the opportunity to sit down with the dynamic duo at Newton Colmore & explore how they have found their first 2 years of working for themselves. From an SSG standpoint, it was really rewarding to hear from two very capable recruiters how the support of SSG has allowed them to start their own business & do what they do best – find top quality candidates for rare, niche & high value opportunities. Alongside this, we were able to understand further how important timing was for Matthew & Andrew when contemplating this exciting leap.
1. Why did you decide to launch your own recruitment business?
Andrew and myself had worked together since 2011 and had always been keen on setting up on our own. It was just a combination of timing and circumstances really. An old colleague of ours had also recently decided to set up on his own which gave us a push as well. We came to the conclusion that there will never be a perfect time to start so we just went for it.
2. What had stopped you in the past? (what concerned you about starting up on your own?)
I think it was just a case of timing. And we perhaps needed that initial push. We were both consistently billing and a billing recruiter is a happy recruiter. I felt as though I also needed to earn my stripes first before venturing into the unknown. No concerns as such but it was quite a scary/liberating feeling when we first launched. It certainly keeps us on our toes.
3. Did you look at any other options before deciding to launch with SSG?
We did. We had a few chats with other investors and incubating companies. We were actually referred to SSG by an old colleague who only had good things to say, which is what swayed us. We also felt that we could easily work with David and that his knowledge and expertise would come in handy when scaling up. My advice to anyone thinking about starting up is to talk to as many people as you can and go from there.
4. How did you find the launch process with SSG?
The launch process was simple and relatively pain-free. As expected there were a few niggles here and there but to SSG’s credit everything was sorted. The process as a whole was smooth and easy to keep track of. Our website was designed and created before our launch date which meant we could really hit the ground running, which is what we wanted. Any support we needed we received. We also recommended a friend to SSG who successfully launched their business too.
5. What challenges have you faced being a Recruitment Entrepreneur?
As with any start-up, regardless of the plan, you always come up against challenges. Understanding cash flow was quite an important lesson we learned early on and it is vitally important you get a good handle on it, especially if you are running contractors. Fortunately nothing major reared its head at us but there will always be something new that crops up
6. What elements have been “easier” than you thought?
Our first year as a whole actually. Everything went so smoothly and we managed to hit the ground running and generate revenue quite early on. Because we outsourced all of our back office operations to SSG it allowed us to focus on what we enjoy doing, finding people with rare skill sets and expertise for niche opportunities.
7. What advice would you give someone thinking about starting up on their own?
Where to start… My first advice would be to make sure you have around 4 to 5 months baked bean money saved. Our market moves quite slowly so it was imperative for us to have some reserves before we got started. Then, talk to as many people as you can about your ideas. I would also recommend deciding on a name as soon as possible and getting that out of the way. It was one thing we really struggled with actually. You would think it would be one of the easiest parts wouldn’t you? But you have to choose something that represents your ethics, professionalism and ‘feel’.
Having the opportunity to support Newton Colmore has been a privilege that SSG has enjoyed since the very first day they came in to launch their new business just over 2 years ago. In what is a very tricky market, to meet two individuals so driven to succeed was a real driving force in making sure SSG facilitated their needs & rightful demands in line with the vision of their new company.
Keep doing what you’re doing guys!