There’s a lesson in this for every Recruitment or Search Firm Owner smart enough to listen to it….
Even if you don’t like or know anything about Football (soccer to my friends across the pond) …
If you’re a fan, you’ll probably know this already. Recently a professional Football player by the name of ‘Paul Pogba’, completed a world record breaking £89M transfer to his former club, Manchester United…
Most people would agree that £89M is an extortionate amount of money to pay for any football player…
But to make it worse… it’s a player they sold for just £1.5M just 4 years previous…
To put that into non-football terms…
Imagine a distant relative dies and you inherit their property… You then sell that property to someone else in your neighbourhood for £1.5M … Only to buy it back just 4 years later for £89M…
StuOOOOpid!
Or at least would be without considering the bigger picture…
Going back to the house analogy I used earlier… What if that house you bought back for £89M, was built on land that contained oil?… Or diamonds?…
And even though you purchased it for £89M… You knew that over time, it would be worth to you £890M… 10 times what you paid for it!
Not so stupid now is it?
Don’t get me wrong, it would have been BETTER to keep the land in the first place… But the price you buy it back for is irrelevant, IF you make a return on investment…
Football is a business (just like your Recruitment or Search Firm)…. And in business, when it comes to expense, the return you get is more important than the amount you spend….
Only time will tell if paying £89M for a player will give Manchester United a return on investment. They’ll be relying on things like shirt sales, ticket revenue and trophies won to make their money back…
But for your Recruitment or Search Business, things are a lot simpler…
I’ve seen too many Recruitment and Search Firm Owners bulk at the ‘cost’ of marketing without ever really thinking about the return on investment….
You need to look at marketing as BUYING clients at profit… And once you know how much each client is worth to your business, you should get a better idea of how much you’re willing to pay to get one…
So for example… if every client you get is worth to you an additional £30K in business revenue over their life time… Buying a client for even as much as £15K would still mean you’d be doubling your money…
And in most cases, you will never have to invest anywhere near that much…
Like joining the ‘Recruitment Marketing Academy’ for example… It’s guaranteed to give you a return on investment… And when you join before the deadline, you’ll get a free copy of my new program ‘How To Double Your Client Base In 6 Months or Less”. Click the link below for full details…
Grab the full details right here…
Speak to you soon,
Until then…
Take care, take action and be relentless…
Terry Edwards
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