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This Staffing Samurai Is Beating The Great Resignation: Here’s How

This Staffing Samurai Is Beating The Great Resignation: Here’s How
Written by Publishing Team

Recruitment consulting for Brian Abrams should have struggled during the pandemic, with millions of employees dropping out of the workforce during the Great Resignation and some employers going out of business.

Abrams, 46, helps his clients find the right people for their projects at PMO Partners, the IT project management consulting firm he founded in Groton, Massachusetts in 2014.

But his business has already flourished. “2021 was a milestone year for PMO Partners,” he says. 2022 will be better.

Along the way, Abrams has grown what was once a one-person, million-dollar business into a team of three employees and 10 contractors.

Abrams is part of a trend that has amassed rocket fuel in recent years – the growth of small, big-money businesses. It is easier than ever for ordinary people to start a successful business with a very small team of traditional employees, contractors or a mixed team of both.

Thanks to the endless stream of free and inexpensive online tools, outsourced services, new digital payment options, the growth of freelance centers, the ease of marketing on social media, the growth of online education with courses and master classes, and the acceptance of the largest work Remotely, small businesses are more efficient than they were in the past while requiring less start-up capital.

Many Americans are taking the opportunity to make the most of these trends. From January to November, nearly 5 million new businesses were launched, a 55% increase over the same months in 2019, according to census data.

What some of these new founders may not fully realize is how much money can be made in the average small business. Consider this: Of the 5.3 million companies with one to 20 employees, the average person had just four employees and annual revenue of $816,180, with payrolls of $162,755, according to U.S. Census Bureau statistics. for 2017. Business, followed by real estate costs.) That leaves $654,425 to cover any remaining overheads and take profits.

Many small businesses bring in more. If you look at the average revenue for companies with five to nine employees, for example, it’s $1.2 million, with an average of 6.5 employees and payrolls of $252,033. That leaves about $950,000 to cover costs or take profits.

Some of the categories with the highest revenue and profit potential include high-end professional services businesses such as Abrams, as well as construction, real estate, e-commerce, financial services, manufacturing, wholesale, and transportation, based on my analysis of Census data.

But for most people who start a small business, it’s not really about the money just covering the expenses of the house. It is about freedom and independence. Especially since the pandemic, people want to control where and when they work. Few jobs offer the same freedom to do this as a small business, so they like Abrams prefer paving their way to autonomy.

However, starting a business is different from building it to six figures out of seven in revenue and beyond, over a period of years.

So how did Abrams set his company up for success during one of the most challenging times in modern economic history? Here are his strategies that apply to many industries.

Start from a strong foundation. If you are past the stage where you can go back to live with your family members if you go bankrupt, then you have to manage your money carefully before you start your business. For many future entrepreneurs, launching a “side hustle” while working a day job is the best way to do it.

Sometimes, that can mean working very long days for a year or two. But it is not permanent. Married and the father of two, Abrams couldn’t quit when he felt the urge to start his own business, so he spent some time planning how to get out of a stressful job at a Boston-based recruitment firm. When he finally quit, he did short-term consulting work before starting PMO Partners in August 2014 to continue bringing in money while providing mobility time that he could redirect back into the business. “It was a good way for me to keep making money while planning,” he says.

When his last consulting job ended, he went full time with PMO Partners. He and his wife used her salary to pay house bills when the business was up and running. They’ve already saved $5,000 for startup costs, such as setting up a website, integrating, and putting the right legal documents in place.

Make time to plan. Abrams worked his company planning evenings and weekends for a year so he could run to the ground. He decided to focus on hiring IT project managers because he knew other recruiters were not paying much attention to this space – which meant it would be easier to own his niche. As I realize, moving into running a small business is a bridge to discovering a new way of working and living, which will be more rewarding on every front than the average job. You might be surprised at how much energy you have when it comes to building something you love – for yourself and your loved ones – rather than going into a job that you feel sluggish about. Abrams’ decision to focus on project management professionals helped generate $760,000 in revenue by the end of 2015 and $1.5 million in annual revenue by 2016.

delivered. From the start, Abrams resisted the temptation to do everything himself and brought in specialists to handle tasks outside his area of ​​expertise. Instead of using DIY marketing, keep an outside marketing company that does most of the marketing and social media work.

Just as he approached $1 million for the first time, Abrams saw that he needed an operations manager to handle back office work, such as financial documents and candidate papers, and hired him for the first time. Taking on the tasks that were holding him back, his operations manager found that growth was taking off.

Stay active in your field. Abrams views networking as a mandatory part of his business development and makes time to do so constantly. He attends industry events such as user groups for project managers, holds a monthly webinar on a topic relevant to project management professionals, and often posts on LinkedIn about hot topics in his field.

Staying connected to his network helped him pivot during the pandemic when some of the industries he served reduced hiring for those who needed help. For example, he took over with two food manufacturing clients and specialized in developing online college courses for colleges and universities. “We kept busy,” he says. “We’ve been fortunate to connect with organizations that have seen little growth in business.”

It also participates in an official recruiting network consisting of a few thousand recruits. They help each other find good candidates and take placements in their areas of expertise – which has helped his company thrive during COVID. “If I succeed in hiring these candidates, I get half the fee,” he says.

Find out how much can be learned. To further expand his knowledge as an entrepreneur, Abrams began building his board of advisors. “These are the people I know and trust who can advise me on the things I’ve been stuck with,” he says. As he discovered, the more his business grew, the more there was to learn.

Think long term. Abrams wants the relationships in his business to last a lifetime and to keep in touch with the candidates he has hired as they move from one job to another. “One of the things that makes me proud is that some of these candidates I’ve known for years, and years always think of me when they become available again,” he says. Earlier this year, I hired a consultant I’ve known for ten years. I’ve never had a chance to put it before, because of the timing. I finally put it down.”

All of this requires constant effort and an ongoing commitment to reinvesting in the business, but for Abrams, this is a small price to pay. He has built a career where he can work on his own terms, do what he loves and excel at. As the poet David White says, “The antidote to fatigue is devotion of the heart.”

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