The Yo-Yo Billings Problem
By a show of hands, who here would like to generate more consistent placements and more predictable revenue?
Everybody in the room! And that's not surprising.
This is one of the biggest challenges faced by recruiters and recruiting firm owners. I know this because:
I've been a recruiter myself so I've experienced the roller coaster ride of recruiting firsthand. In fact, it's the exact same roller coaster when you're a self-employed consultant and coach like I am.
Since 2001 I have worked with more than 10,000 recruiters in 34 countries. And I see the same issue over and over again; these peaks and troughs in production.
So here’s what happens…
You have a lot of jobs on. You get really busy and you fill a bunch of them. You have a fantastic month. But while you are busy delivering to the existing job orders then you take your foot off the pedal when it comes to business development and your sales pipeline dries up.
Then once you’ve filled your current jobs you have nothing to work on. So you go back into business development mode and you had to crank everything back up again, which takes time. That’s why you get this boom/bust cycle of yo-yo billing.
We've all seen it, we've all experienced it, and it's super stressful. The worst part is the uncertainty. One month, you're making a lot of money and the next month it's lean times, right? I'm sure we can all relate. I know personally I've been through that. In fact, this has been an issue for me until relatively recently. Over the last two to four years I finally have cracked this and found a solution.
So we know that yo-yo billings are the symptom; with all that stress and the cash flow crunch. The cause is this…
It is incredibly difficult to balance service delivery and business development.
I'm here to tell you that if you're experiencing this, it is not your fault. The reason I say it's not your fault is that the traditional approaches that we've been taught as an industry to try and address this issue just don't work sustainably in the long run.
So how are we taught to prevent yo-yo billings? Well, it's all about hustle.
We were taught that you need to be constantly doing business development all the time even when you're super busy with existing jobs. That you need to spend some time every day doing your business development.
We were taught that you need to improve your planning and time management. You need to be more structured and more disciplined. You need to have great habits and maximize your productivity; get the most you can out of every single day, every week, every month, every quarter.
Now, this is absolutely right. We should be striving for that. I’m not saying that advice is wrong - just that it’s difficult to maintain. We're human beings, not machines.
I know myself that I am so easily distracted. I get off course. I start every week with good intentions and every day with a plan. But it's so easy for me to get off track. I’ll have a really good run where I'm disciplined, organized, doing lots of business development. But it’s so easy to slip out of those routines.
Now as I said, it's not your fault. But it is your responsibility to do something about it - there is a difference between fault and responsibility. The most effective recruiters - and people in general - take full responsibility for their results.
If you’re not happy with the results you’re currently producing, then it’s up to you to do something about it, wouldn’t you agree?
So what is the solution?
The solution is we need a steady stream of warm leads coming in consistently, week in and week out.
You need a system for generating leads on autopilot, so that even when you’re busy filling existing job orders, your marketing machine is working for you in the background, and your sales pipeline keeps getting topped up.
So you might be thinking, “OK that sounds awesome Mark, how do we do that?”
Well, that's exactly what I want to help you to implement. I want to help you set up a system so that every week you've got sales appointments with qualified prospects booked in your calendar.
If that sounds good to you, then there are two actions you can take to learn more.
First, register for my free webinar, “Inbound Marketing Roadmap for Recruiters - How to Generate Warm Leads on Autopilot.”
Second, apply for a free 45-min Strategy Session, where, if you qualify, I will help you create an inbound marketing strategy for your business.
By the way, maybe you’ve had so-called “strategy sessions” in the past which are thinly veiled sales pitches. I personally hate that. With me, there is no sales pressure, and no “closing” techniques. I’ll give you real advice and ideas, and help you as much help as I can in the time we have available. Then if you want more help, and if I genuinely believe I can help you, then I’d be happy to tell you about my coaching services.