“MY RECRUITMENT AGENCY IS TOO SMALL TO NEED A NON-EXEC FINANCE DIRECTOR”

Since launching MAYACHI in January, I have spoken to numerous recruitment directors of various sized recruitment agencies. Whilst most have instantly recognised the need to engage my consultancy services, some Directors have also said, “My recruitment agency is too small to need a non-exec finance director” or “I don’t think I’m big enough to use MAYACHI yet”.

These statements do take me aback and suggest that either the Director has a complete understanding of how to read financial statements or they do not fully understand what I am offering as a complete service.

START-UP RECRUITMENT AGENCIES & SME’s

My most successful client meetings have been with new start-up or SME size recruitment agencies. These agency Directors are fully committed, successful recruiters who know their clients, the industry and how to make placements easily. However, they have limited knowledge or understanding of their financial figures and, as such, will scarcely review their management accounts when received (except maybe to see how much they have made as profit).

GET YOUR HEAD OUT OF THE SAND

Following the first meeting with MAYACHI they soon realise that as a business owner, they cannot just continue to put their heads in the sand when it comes to their numbers and must start taking responsibility for what the financial reports show and how they can be used to run the business.

These regular meetings help the Directors to understand their numbers, set targets and monitor new team members, look at ways of improving cash-flow and provide any tax saving advice that is of benefit to any size business.

The agency can decide on the frequency of board meetings with MAYACHI based on the benefit they believe they will gain from them and increase or decrease this number as the business grows.

FOCUS ON THE BENEFITS

My advice is instead of focusing on how small you believe your agency is, realise the benefits of being able to understand how big your agency can become.

We use board meetings with our agency clients to ensure that all aspects of the business have been discussed and understood before making plans and targets for the next arranged meeting. These meetings focus the business on a forward trajectory and ensure that the Directors have the buy-in for the next month or quarter.

STILL BELIEVE YOUR RECRUITMENT AGENCY IS TOO SMALL?

If you’re still thinking your agency is too small to need a Non-Exec Finance Director, then it’s time you booked in for your complimentary consultation call and let us show you why you need MAYACHI on your side.

Book now via the contact page, or email stewart@mayachi.co.uk

Posted in