Such A Great Business, I Bought It! Here’s Why.
Well, I didn’t buy the whole business.
But I did invest a significant amount of money for a significant shareholding, and a place on the Board.
I thought long and hard about publishing this blog. This is personal financial information after all. Not really something to ‘share’. And I have invested in plenty of other businesses before, some public knowledge like people2people and Livehire, but others too where my involvement is more silent, and I never blogged about them in detail.
So why share with you that in the last month I have invested in Consult Recruitment?
Well, I have toured the world preaching that I do not believe that the agency recruitment industry is dying. As much as I believe technology will change it profoundly, I do not see agency recruiters being usurped. I want to show that I am putting my money where my mouth is. I continue to invest in recruitment and related businesses. Mainly startups, but also established businesses like Consult Recruitment, if I foresee a stellar future.
But only if they are special.
So this is why I parted with a big chunk of my hard-earned, and why I believe that money will be multiplied many times over in the years to come.
And this is where it could be interesting to you.
Why would I do it? Why this company?
You could consider this my checklist of reasons recruitment businesses will thrive in the new era. It is certainly my template for when to consider getting involved. This is why I invested in Consult Recruitment.
I LIKE THE PEOPLE
The owners are genuine people. They are honest. They share my work ethic and my view of recruitment, and service, and quality. We laugh at the same things (except rugby results). It may seem simple, or even trite, but believe me when you are going into business together; it’s like entering a marriage. There will be ups and downs, disagreements, and challenges. You have to be able to work together. Trust each other. Think of the long term.
THE LEADERS ARE BRAVE
They are prepared to take risk. Not only with money, but also risking pride, ego and the status quo. That’s big. It’s inertia and complacency and fear that cripples so many owners of recruitment businesses. The Consult team are prepared to tackle things they have never done before. Indeed, they know that they must!
THEY TAKE ADVICE
Not only mine, but definitely mine. Not blindly. But with thought and consideration. I like they they know there is much that they do not know, and are open to new ways of thinking. And then they act on that. This mindset of constant internal disruption is key to future success I believe.
THEY FOLLOW THROUGH
If we agree it needs to be done, mostly, it gets done. Now, with my new involvement, I will be upping my role as an ‘outside voice keeping us accountable’. It’s so common in business for big plans to be made, massive visions laid out, expansive goals set. And nothing actually ever gets done. Not so at Consult.
THEY ARE DIGITAL
Not digital natives necessarily. But digital converts. Believers in social, online marketing and talent communities. Have a look at their blog, Twitter, Facebook, Instagram, LinkedIn. They have hired two marketing staff in a team of only 20. They ‘get’ that the future of recruitment is marketing. Especially to candidates.
THEY TURN AWAY CRAPPY BUSINESS
Low margin? Jerk of a client? Forget it! Consult believes in their value and that flows though to client relationships. Transactional commoditised recruiters will be replaced by algorithms. True consultants who know how to bring unique talent to the hiring table will not. That’s why I invested in Consult.
In digital. In technology. In marketing. In people. In learning. Have a look at their clever ‘What’s my worth’ idea, which is much smarter than it looks, building goodwill among their accounting and finance community, generating client conversations and streams of inbound inquiries.
THEY TRAIN THEIR STAFF
Investments in Recruitment Juice for a start, but also building a training methodology and library. Most of their staff are hired from outside recruitment. So development is the Consult ethos and I think that is smart.
THEY BUILD RELATIONSHIPS
They love technology, but they get in front of clients and candidates at every opportunity. The guys at Consult are at one with me in the belief that the future of recruitment is the best use of cutting edge technology, blended with the most sophisticated of human influencing skills.
So there it is. I will be spending more time in New Zealand, and we have plans to grow this business strongly.