How to make a Million Dollars as a Headhunter
The MILLION DOLLAR question:
How do you make it as a headhunter?
I am sure that many headhunters or potential headhunters will want to know how to do it. Below are some of the paths you will need to take to earn that million dollars.
1) When you are employed by others, you should never ask for a basic salary. Once you ask for the basic salary, your income will never reach the million-dollar mark. You will need to make a deal with the company you are working with to work on a PURE commission basis. That is to say, that for every deal closed, you will be paid a huge percentage of the sales.
2) Ask for a very high commission.
Working for “commission only” will yield good money if you are earning at least 70% of every dollar you make. That is to say, for every dollar you generate, you will be given $0.70 as a commission. If you are not getting 70% of the deal, switch to another firm that is able to give you that kind of rate. In this case, do not ask for a based salary, because recruitment firms will not pay you a based salary and a high commission.
If you are able to work for yourself, meaning you are on your own company, you will earn 100% commission.
3) Ensure that the company you associate with has a good reputation. You do not want to put all your effort into sales and business and then end up with the clients not trusting you because the company has a poor reputation.
4) Target big companies – The logic is very simple: only big companies are able to pay the big bucks; small businesses or companies will not be able to afford your fees
5) Focus on big ticket job assignments – If the value is too low, you will need to work on many more cases than would otherwise be necessary to even reach a portion of the million dollar mark.
6) Focus on an industry you are able to handle and become an expert in it.
Research, read, travel, and dig out anything and everything about that industry. Become the next guru in it and you will become a highly sought-after headhunter.
7) Business Network – Make sure you attend all the events, exhibitions, trade shows, open houses, and company functions so that you can gather a huge network for your database, Not all of them will be useful, but you never know when an opportunity will arise and it will be helpful to know someone.
8) Your first big case will come only in the later part of your career- it will not come immediately. Hence, you need to have plenty of patience in what you are doing. Get the smaller deals up and running first.
9) Focus on personal improvement every single day: read books, listen to CDs, and watch videos from top recruitment gurus in the industry.
10) Find a mentor who is able to help you. Understand that you are not perfect and that you need a third party to show you the way objectively. Find a mentor who can motivate you, guide you, and pull you back if you are making mistakes.
11) Invest plenty of time and money in technology and outsourcing. This will allow you to accomplish many things within the shortest period of time.
12) Create your personal brand by having a top-class website, engage in social media, and let everyone know that you exist.
13) The path to reach your million-dollar mark will be full of nasty hurdles, but stay focused on what you want and go for it. Never give up.
14) There is always a price to pay to reach the million-dollar mark. Determine whether you find it worthwhile to pay that price. If you decide it is worth it to do so, then you will have to sacrifice and pay it accordingly.
15) A healthy body, a healthy mind, and great relationships will make your journey easier and smoother. Make an effort to ensure these three needs are balanced.
16) Remember that the role of the headhunter is to find jobs for clients and candidates. Never lose touch of this basic rule. Period.
Dougles Chan, The Recruitment Guru, Coaching Staffing and Recruitment Agencies Worldwide