1. Advertising
    y u no do it?

    Advertising (learn more)

    Advertise virtually anything here, with CPM banner ads, CPM email ads and CPC contextual links. You can target relevant areas of the site and show ads based on geographical location of the user if you wish.

    Starts at just $1 per CPM or $0.10 per CPC.

Legit Method Or A Load Of Hot Air?

Discussion in 'General Business' started by Jonnyg13, Jan 5, 2017.

  1. #1
    I read something interesting on Quora the other day and I would like to hear what you guys think about it.

    Here is a link to the original post https://www.quora.com/How-can-one-make-4-000-month-sitting-at-home-in-6-weeks-of-time/answers/18525463?srid=sW91

    But I'll paste it here as well to make it easier.

    €4000 in six weeks is a piece of cake.

    Do some research on Google, Gartner Magic Quadrant; read some articles published by McKinsey about the most in demand IT skills for 2016.

    Pick one of the skills that seems the hottest and that you have at least some kind of interest or affinity to.

    Let's say that you have decided to focus Cyber Security, this is now your "vertical market.

    Go on to a Jobboard aggregator like indeed.com, and research what companies are looking for Cyber Security expertise and find the most senior job you can find in this particular niche. Let's say for instance that you see that Exxon are advertising for a Global Director for Cyber/Information Security for a salary of $150,000 in Houston.

    This is now your "first" search assignment. Using your LinkedIn recruiter account, make a search for every relevant Cyber Security Director based within a 100km vicinity of the job you have seen. Not every potential candidate will have written their LinkedIn account in the same way - so make sure you use derivatives in the Boolean search.

    For instance:

    (Director OR VP OR SVP) AND (Security OR compliance) AND (global OR head)

    This will bring up a list of relevant potential candidates. You can send these candidates an inmail using the LinkedIn account, asking them if/when they are interested to discuss an opportunity.

    On average you can expect to get a response rate of approximately 20% from your inmail. So 100 messages sent, leads to 20 candidates that are open for a conversation.

    Speak to the candidates, ask about their current situation, what is happening at their current employer and for what kind of opportunities they would consider changing jobs for. Once this has been established you can then sell the job, that you had spotted on the online Jobboard and see if they are interested in it.

    If they are, that's perfect. You do a more in depth interview and ask them for references that can verify the information on their CV.

    You take the references from the previous employers, check that the candidate is actually any good and whilst you do that you can also ask them if they are currently having challenges recruiting good people - this will lead to more opportunities that you can work on, and will enable you to build a network of clients that are interested in Cyber Security expertise.

    Once you have some suitable candidates, go back onto LinkedIn and search for the relevant hiring manager within Exxon.

    For example put this into the advanced search:

    Job title: (information security OR cyber security)

    Location: Houston

    Call the switchboard and ask to be put through to the people on the list. Find out who the MAN is (money, authority, need). Contact them and sell your candidates to them.

    If it works, then you're in business and can expect to charge a bare minimum of 15% of the annual salary - €22500 - but you can charge upwards of 30%.

    Now the beauty of doing it this way, is that every candidate you have contacted, is actually a senior professional who will also have hiring responsibility. Cyber Security is in demand, so as you're interviewing your candidates you can also check to see what possibilities you have to support their current vacancies.

    If you speak to 20 senior candidates, you could realistically expect that 20% of them have vacancies that they are struggling to fill.

    As a "specialist" headhunter in this space, you can offer your services on a retained basis, where they pay a part of the recruitment fee upfront, let's say $5000 from a potential cut price fee of $15000 and the rest is payable once a candidate has been hired.

    Do this process every day - pick a job per day, find the candidates, establish if the candidates are interested or if they have vacancies themselves and then sell the candidates to the job. If clients have other vacancies then sell a retainer and see if they're interested.

    Even as a rookie, with no headhunting experience, by working systematically, speaking to 20 candidate/managers per day - you will pick up vacancies that you're able to fill and if you can sell them on a retainer basis then the money is in the bank immediately.

    There are 22 working days in a month, so that 440 candidate/managers spoken to, 22 jobs that you've seen advertised and then offered candidates for and probably a whole lot more that you picked up along the way.

    You should be looking at a minimum of 2 deals in the bank for around $40,000 of fees for you and with a strong network of 500+ candidates/clients that you can work with in subsequent months.

    Hard work initially but easy once you get going.
     
    Jonnyg13, Jan 5, 2017 IP
  2. jrbiz

    jrbiz Acclaimed Member

    Messages:
    6,030
    Likes Received:
    2,610
    Best Answers:
    2
    Trophy Points:
    570
    #2
    Headhunting is a very difficult and demanding job. The reality is that most hiring managers cannot afford to pay a recruiter those high rates and those that do only use a trusted recruiter or two. Have seen many people spin their wheels in the recruiting business only to give up 6-12 months later when they have not made a single placement. Everything sounds easy until you get into it and see how competitive and cutthroat the marketplace is. Doing the whole recruiting job "on spec" before you have an employer to at least agree to consider your candidates as they are suggesting sounds like a really bad idea.
     
    jrbiz, Jan 6, 2017 IP
  3. Jonnyg13

    Jonnyg13 Greenhorn

    Messages:
    16
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    11
    #3
    I did think it was made to sound far too simple. Thanks for the insight.
     
    Jonnyg13, Jan 6, 2017 IP
  4. Matthew Sayle

    Matthew Sayle Prominent Member

    Messages:
    3,325
    Likes Received:
    464
    Best Answers:
    1
    Trophy Points:
    385
    #4
    Trust me, there are far simpler ways to make serious money online.

    This may work, but it's far too involved. Finding passive income that's scalable is a better area to concentrate on.
     
    Matthew Sayle, Jan 6, 2017 IP