How do you bill one hundred thousand dollars a month... yes A MONTH... AND travel to several cities per year, snow board, bike in the national parks, write articles for your industry trade publications and invest a bunch of time at conferences?
Well, Jordan Rayboy, a great friend and client of mine does just that! I interviewed him for my Inner Circle Coaching Club members last year and he held nothing back with his responses... I am sharing a few of his words of wisdom below.
1) KNOW The Value of Your Time... PRECISELY!
A key concept not only of Jordan's, but of many big billers is that they know the value of their time and they find ways to delegate things like research, name gathering, administrative tasks, billing, etc. to other people. Jordan estimates his time is worth $500 per hour based on his billings and time on the phone.
Hire a researcher or outsource your research off shore. There are several credible solutions available for less than $10 per hour!
OK, maybe you aren't currently billing out at $500 per hour, but if you plan on doing as little as $150k per year, your time is worth almost $100 per hour per 8 hour day.
What $10-$20 activities are you doing can you off load?
2) Set SPECIFIC Expectations and Check - in With your people
Whether you are managing a virtual team or your recruiters are located in your office they need to know
Jordan holds team meetings via conference call to review deals in progress, candidates developed and where exactly people are as it relates to producing candidates on the searches they were given. If they are behind, he gives the searches to another recruiter so not to lose face with his client.
Take away: Are you setting specific targets for weekly job order, 1st time interview, and candidate production? If yes, do you have consequences in place if those targets are not met?
3) Get a Mentor. Jordan has several mentors. He mentions Jeff Kaye, Jon Bartos and myself in his interview. His philosophy is to learn from people that have "been there-- done that". According to him, other people have already made the mistakes that will cost you tens of thousands. Mentoring buys you time, speed to market and years of trial and error.