The pinned post of starting your firm is lacking some financial aspects. We discussed last year and I thought it could be of use.

The pinned post about starting your firm seems to overlook some important financial details. We discussed this last year, and I believe it would be helpful to revisit the topic. Here’s my breakdown of various budgets for establishing your business, categorized into three tiers:

1. Shoestring Budget: Around $250 per month without an office.

2. Solid Setup: Approximately $800 per month for a comprehensive suite of tools, plus $500-900 for office space.

3. Premium Setup: A budget of $2,000-$4,000+ per month for a top-tier setup, plus $900-1400+ for an office and the possibility of hiring an assistant (virtual or part-time).

Breakdown of Costs

$250 +/- Setup (Assumes you already have a laptop/computer; if not, factor in an additional $500-800):

• $79 for Sales Navigator (includes 100 InMail messages)
• Free or $20 for Loxo or Manatal ATS/CRM
• $50 for cell phone service
• $50 for internet
• $39 for SalesQL (email and phone lookup)
• $20 per year for a GoDaddy domain/personal email
• $50+ for cloud storage and miscellaneous expenses

$800 Setup:

• $79 for Sales Navigator
• $200 for a full premium Loxo subscription with all features
• $29 for a phone service like Grasshopper
• $100 for combined internet and cell phone
• $200-$400 for higher-quality sourcing tools like Hirez, Seekout, or Chatterworks
• $50-$100 for cloud storage and miscellaneous expenses
• $20 for a simple website or Outlook 365 suite

$2,000-$4,000+ Setup:

• $79-$140 for an enhanced Sales Navigator or $200-1,000 for Recruiter/Recruiter Lite
• $200 for Loxo
• $200 for a fully integrated office phone system
• $800-$1,000 for ZoomInfo Premium
• $100-$300 for cloud storage
• $200 for training programs such as Next Level Exchange, Morgan Consulting, or similar
• $20-$100+ for a website with job board integration
• $200 for access to platforms like Monster, CareerBuilder, or Indeed

One-Time Costs (Depending on Your Budget):

• New computer: $500-$2,000
• 2-3 monitors: $300-$2,500
• Keyboard and mouse: $100
• Headset: $50-$500
• Desk or stand-up desk: $100-$1,000+
• Office chair: $50-$500
• Miscellaneous office supplies: $100-$300

These estimates are based on 25 years of experience. When I launched my own firm in 2011, my total monthly expenses, including an office, came to about $600 (which included a cell phone, GoDaddy URL for email, Google Voice, Google Suite for cloud storage, and LinkedIn—back then, it was much easier to search). Nowadays, the costs typically range from $1,300 to $1,600 for the same setup, assuming an office lease at around $800, plus additional costs if I bring on a commission-based sourcer.

Updates to Consider (Since this information is a year old):

I would also recommend budgeting an additional $50-100 a month for note transcription services (like Metaview or Otter, which range from $20-$40) and for ChatGPT Pro ($20), supplemented by a virtual assistant like Merlin or MaxAI ($10-$30).

Quantitative finance firms London?

Looking for top quantitative finance firms in London? Which firms excel in placing professionals in investment banking, asset management, hedge funds, trading, research, and more?

What percentage of your job orders are exclusive versus non-exclusive?

I’m interested in understanding the distribution of your job orders. What percentage are exclusive compared to non-exclusive? Also, does this distribution change depending on the industry?

Linkedin Recruiter search method improvements?

Enhancing LinkedIn Recruiter Search Strategies

I’m currently working with my in-house team to boost our productivity with LinkedIn Recruiter searches, which play a significant role in our hiring—accounting for 70% of our placements.

Right now, I’m focusing on optimizing channels with higher response rates. We’ve examined various strategies, including sequenced campaigns (both built-in and via external tools), memes, tech stacks, informational PDFs about our company, and experimenting with different message lengths.

For our searches, we employ a structured approach that starts with highly specific criteria and gradually expands. Here’s a breakdown of our search tactics:

• Role titles and their synonyms
• Precise location for the role, with options extending outward
• Keywords and related sub-sets, particularly for defining specific skills
• Company size, relevant to culture and skill considerations
• Target company lists of similar organizations
• Lists of companies we’ve successfully hired from
• Companies that resemble those we’ve hired from
• Previous role titles of candidates transitioning into the current search position
• Types of degrees
• Target universities and relevant academic programs

I’d love to hear from you! What sourcing strategies are you implementing? What techniques or methods have you and your teams found effective for enhancing your LinkedIn searches and increasing response rates?

Job offer – private sector IT recruitment

Job Opportunity: Private Sector IT Recruitment

Hello! I’ve been working at my current agency, a major IT recruitment firm in the UK, for a couple of years now. My focus has been on developing a cold desk in the NHS sector, which has been quite challenging, to say the least.

At the moment, I have a basic salary of £30k, but I’ve struggled to close any deals recently, and the past six months have been particularly slow, leaving me without any new placements.

I have received an offer from another agency that is larger and more established. The new role consists of 50% managing existing clients and 50% focused on new business development. The IT team there appears to be performing well. However, they’ve offered me a basic salary of £26k, with the potential to earn around £38k OTE with bonuses, which could increase over time.

I’m in need of some advice. I’m hesitant to remain in a position where I’m not making placements and feel precarious about my current role. That said, a £30k salary is still a solid amount, and while the new opportunity could provide growth, access to actual clients, and a robust database, I’m concerned about accepting a lower starting salary.

Any insights or advice would be greatly appreciated!

Looking for Work from home oppurtunities in Recruitment

Seeking remote job opportunities in recruitment.

UK – Registered Nurse Recruitment

UK – Registered Nurse Recruitment

Hello everyone,

I wanted to share that I’ve recently launched a Registered Nurse recruitment agency in the UK as a side venture while continuing my job in Tech Sales.

So far, I’ve made a few placements and I see the potential to earn even more if I commit to this full-time.

Now, I’m at a crossroads: should I leave my current job and dive into this venture full-time? Keep in mind, I have great medical benefits and a generous salary with on-target earnings from my tech position.

What are your thoughts on the current market? Do you think this kind of business is sustainable in the long run?

Looking forward to your insights!

Looking for advice (UK)

Looking for Advice (UK)

A bit of background: I’ve been in the recruitment industry since 2017, working both in agencies and in-house. My last two positions had salaries between £36k and £37k, but now I’m back on the job market after my contract ended.

The experience has been incredibly challenging. I’ve applied to hundreds of positions in and around my city, secured a few interviews, but time and again, it seems that the successful candidates have qualifications or experiences that I lack.

Most of the salaries I’m seeing now are in the mid £20k range. I started my career earning £23k in 2017, and I was recently approached by an agency about a role that pays just £25k, despite my previous experience as a Recruitment Manager.

I feel completely lost. I’ve exhausted every resource and strategy I know, and since March, I’ve only had a few temporary jobs to keep me afloat.

If anyone has any recommendations or advice, I would really appreciate it. I feel like I’m struggling to stay afloat. Thank you!

Can you help me close this position?

Seeking Assistance to Fill Open Positions

Hello Everyone,

I currently have several openings in backend engineering and product roles. I’m reaching out to agencies and freelance recruiters who are interested in collaborating on a shared partnership. Your support would be greatly appreciated!

Dean DaCosta’s Start.Me page. A plethora of info for all recruiters (updates sans link)

Check out Dean DaCosta’s Start.Me page for a wealth of information tailored for recruiters!

For those unfamiliar, Dean is a sourcing and Boolean expert, and he runs a fantastic resource website called The Sourcing Links (I’m not sharing the link here as it violates sharing guidelines).

To find Dean’s Start.Me page, simply search for “dean da costa ssar,” and you’ll see it pop up across the first page of results.

Dean has compiled an extensive list of tools, software, Facebook pages, and much more for recruiters, and he keeps it updated regularly, noting when he adds or modifies links.

If you haven’t heard of Start.me, it’s a fantastic, free platform that I use as my homepage. It allows you to organize all your bookmarks and frequently used tools in one place. Many users share their Start.Me pages (like Dean), allowing you to replicate sections or entire pages for your own easy reference. I’ve saved several of Dean’s pages, as well as a really impressive Start.Me compilation focused solely on AI, ChatGPT, and natural language processing topics—featuring tons of links to tutorials, prompt engineering resources, OpenAI APIs, and AI tool aggregators.

While I’m not sure how to find other Start.Me pages, I suspect there are plenty out there that would be beneficial for recruiting or business development/sales.