How did a Certified Public Accountant launch and scale his recruitment business from the ground up? In this episode, you will hear about Troy’s journey in starting and growing his search business! Troy shares the hurdles he faced and his strategies to overcome them and thrive.
Troy is the President of Benchmark Search Group in Dallas. He founded the company in 2018 after working at one of the Big Four accounting firms and more than a decade with one of the largest national recruiting firms.
Troy has built Benchmark’s reputation as a trusted advisor for sourcing and recommending the right accounting talent, specializing in direct hire placement, executive search, and temporary staffing for accounting and finance professionals.
Episode Outline and Highlights
- [02:02] How Troy got into recruiting and was almost fired in his first 90 days.
- [08:00] Winning Best Place to Work for Working Parents.
- [11:57] Key challenges in Troy’s journey of building his own business.
- [21:44] Time tracking exercise to improve efficiency while focusing on value-adding activities.
- [24:00] Hiring a VA and fostering an environment where your team members are proactive.
- [33:09] Doing things differently to improve the training component.
- [42:40] Troy shares insights on what he had learned while running his search firm.
- [50:01] Troy’s three most important metrics in running a search firm.
Overcoming Showstoppers When Launching a Search Firm
How a successful search firm owner started his journey is always interesting. Most often, launching your recruitment business can be extremely challenging! Even if you are an excellent recruiter, running your own business is a different ball game; nothing can fully prepare you for it. Troy shared his journey from being a solo entrepreneur to building his own team. Below are the takeaways from the challenges he had, and I am sure you will be able to relate if you are already running your own recruitment business:
- Starting as a solo entrepreneur: Troy knew he needed to hire, but it took him nine months to hire his first employee.
- Slow initial growth: His hiring process was slow, which resulted in impediments. However, Troy focused on hiring top producers from other firms who were looking for a better culture fit, enabling him to build a core team over time.
- Lack of infrastructure or processes in place: When he started to scale, Troy realized he didn’t have enough infrastructure or processes to support his growth. He established SOPs and initiated training programs to create a more scalable structure.
- Trying to do everything: Troy became a bottleneck as he felt he needed to get involved in everything. He struggled with the need to control all aspects of the business. He eventually learned to delegate and focus on higher-level activities.
Fostering a Proactive Team Environment for Virtual Team Members
A good sign of a great team is when your members come to you and ask to take stuff off your plate rather than you having to reach out and delegate the tasks. This behavior describes Troy’s team, especially his virtual assistants. How do you foster a proactive team environment with a virtual team?
Troy fosters a proactive team environment, even with onboarding virtual assistants, by treating them as integral team members rather than just freelancers. He emphasizes the importance of full integration, where the VAs are not just completing tasks but are actively involved in the business. An example is when his first VA quickly took on leadership responsibilities and even helped onboard a new marketing VA while he was away, demonstrating trust and empowerment.
Another approach is to ensure that the VAs are involved in the company’s operations and goals, which fosters a sense of ownership and commitment. This approach allows them to proactively take on tasks and support the team, contributing to a strong and cohesive work environment despite the physical distance and different time zones.
Troy’s Top Three Metrics in Running a Search Firm
Metrics and KPIs are not there to micro-manage your team but rather to guide them in ensuring that they prioritize tasks that contribute to your organization’s bigger objectives. I wanted to know Troy’s take on the three most important metrics to measure his team’s success. He gave a straightforward response: “Recruiters have to have at least, ten interview screens… And then six client interviews in a week… If you end up with three a week, you’re going to end up with one to two placements a month. And so there’s a scaling factor to that. Then, on the client side, there are at least two meetings with clients every single week. And then that will be five to eight also interviews a week.”
