Happy Easter! Its a great day to spend time with the Fam, and plot your next business.
Let’s get into it.
1. Business idea of the Week: A Niche Recruiting Agency
Recruiting and hiring is hard.
Its a must for any businesses that wants to scale, but it takes a ton of time and effort.
And if you hire the wrong person, it takes even more work to get rid of them and find someone new.
Its a very painful process.
And that’s why recruiting firms can be so lucrative. They solve one of the biggest painpoints businesses deal with, and can demand a hefty price for doing so.
But like any great businesses model, there are plenty of competitors. So to be successful, you need to specialize.
The idea: A niche recruiting agency.
My favorite type of recruiting agency starts with recruiting candidates, educating them, and then placing them with businesses that need their talent.
With the hype of AI right now, this is the perfect time to start an AI automator talent agency. Employees who are experts on using AI, and able to implement AI automation in a business.
How to get started: Before getting started, you can work backwards from the companies that need talent.
Reach out to 50+ companies and ask what type of AI/automations talent they are looking for. Try to get your first customer before you start recruiting talent.
Your next challenge is recurring and training people on how to be AI experts. If you’re not much of an AI expert yourself, you can partner with someone in the AI space that already has an audience of AI experts or can train candidates on the best AI automations.
You can market your service to employees as a program they need to ‘graduate’ in order to be eligible for placement. And since you’re providing them the service of education and job placement, you can charge them a fee to join.
This is a double sided marketplace of finding/training talent and placing the talent in businesses, so you can charge both the candidates and businesses for the service.
And since most recruiting firms charge ~20% of an employees salary as their sourcing fee, this service can be super lucrative with only a few placements per year.
And that’s a wrap!
2. Links I like.
McKinsey Reveals the Top 3 Ways To Sell More in 2024 - The Follow Up
The awkward middle ground that most agencies run into - Tommy Clark
Hampton Business Reports - Hampton Blog
3. Business ideas from Twitter
I spent an hour scrolling Twitter trying to find business ideas.
Here’s what I found 👇
Accessing someones social account is becoming a nessesity for things like marketing, sales, customer support, etc.
Right now, there’s not a great way of doing it (that I’m away of).
I’d love a tool that lets me acesss specific features of someones social media accounts, without manually logging into every account.
These are great opportunities if you want to sell to this audeince/niche.
People that spend a lot of money on their fitness and nutrition are likely to spend a lot on their kids (when they have them).
There are a ton of products and companies already targeting this audience, so it’s not a market I’d personally go into. But there will always be opportunity in it.
If you’re a car or Disney fanatic, this ones for you.
Don’t think it would make a ton of money, but it’s pretty cool (and a big tax write off).
Sometimes you just gotta do things cuz they’re fun. 🤷♂️