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Executive Recruiter

Match execs with the companies who want them most.

Entrepreneur

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Business At A Glance

Executive Recruiter

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

If you’ve got sales and people skills in big supply, then this could bethe business for you. As an executive recruiter, you’ll match jobcandidates with potential corporate employers. Sometimes you’ll startwith an executive looking for a new position; on other occasions acompany with a slot to fill will initiate the search.

While anemployment agency generally works with lower-echelon prospects,executive recruiters–as the name implies–concentrate their efforts onhigher-level posts, filling management, and professional and technicalspots. You can specialize in a particular industry or you can be ageneralist.

And there’s plenty of work–according to the U.S. Bureau ofLabor Statistics, nearly 2 million executive, administrative,managerial, professional specialty and technical support employeesactively sought new jobs in one recent year. And in executive search,these people are just the tip of the iceberg–most of your successescome from recruiting those already happily employed.

The advantages tothis business are that you can work at home or anyplace else where youcan access the telephone, your startup costs are low, and you get thesatisfaction, when everything goes right, of delivering matches made incorporate heaven.

You’ll need A+ people skills, coupled with thebusiness acumen to assess a candidate’s skills and level of experienceagainst the requirements of the position. You have to be a stellarsalesperson because you are, after all, selling–candidates tocompanies and vice versa. If you specialize in a particular industry,you’ll also need up-to-the-nanosecond knowledge of its trends andtechnology.

And last but definitely not least, you’ll need thesalesperson’s thick skin–you’ll have to do a lot of trolling forclients, and you’ll net a lot of ‘no thanks’ along the way.

The Market

Depending on whether you specialize and in what industry, your clientscan be anything from a five-star hotel desiring an executive chef to anoil company looking for a petroleum geologist to a software companydesperately seeking a CEO. Look through trade and business publicationsfor companies advertising for, then call to offer your services.

Direct-mail brochures to clients in your specialty, then follow up withphone calls. Network at trade shows and professional organizations andwith present and former colleagues. Establish relationships with otherexecutive recruiters–often they’ll have a client for whom you have theideal candidate, or vice versa, and you can share the placement fee.

Needed Equipment

You don’t need special licenses or permits to be an executiverecruiter, but an employment agency does, so take care that you don’tmislabel yourself. Some states prohibit meeting candidates or clientcompanies in a home setting, so check into this before you launch yourhome office. (You’ll conduct the vast majority of your business byphone anyway.)

You’ll need the basic office setup–a computer, a laserprinter, a fax machine and the usual office software–plus a databaseprogram for tracking clients and candidates and plenty of filing spacefor the hundreds of resumes you’ll have on tap. And you’ll want one ofthose nifty telemarketer’s headsets so your ear doesn’t go numb fromhours spent jammed against the earpiece.

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Business Services

Errand Service Business Opportunity

Help busy people get through the day by providing an errand service.

Entrepreneur

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errands-business

running-errands-for-people

Business At A Glance

  • Business: Errand Service
  • Start-up Costs: Minimum
  • Home Based: Can be operated from home.
  • Part Time: Can be operated part-time.
  • Online Operation? Yes

Business Overview

Let’s face it; today’s busy lifestyles mean that a lot working people just don’t have time for even the simplest of errands, such as taking the family pet to the veterinarian for a routine checkup, buying AuntSue a birthday present, or picking up the kids after school.

Which is great news if you’re a multi-tasker looking to start your own simple,inexpensive, yet potentially very profitable business. An errand service can be operated with nothing more than a cell phone and reliable transportation.

Land clients by networking and by creating a simple marketing brochure explaining the services you provide along with your contact information.
Related: Start A Small Business, Become Self–Employed

The brochures can be pinned to community bulletin boards, hand-delivered to homes and businesses and distributed with the local newspaper.

A few promotional items such as pens and memo pads emblazoned with your company logo, name and telephone number given out to potential customers will go a long way as a daily reminder of your fast, reliable and affordable errand services.

This is the kind of business where growth is fuelled by referrals, so customer service and satisfaction are the most important goals.

The Market

Busy individuals who need a little help getting their day to day errands done. You can also market your services to small business owners.

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Business Services

Expert Witness Service

Compile a group of experts in their fields to serve as expert witnesses in legal cases.

Entrepreneur

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Business At A Glance

Expert Witness Service

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

Starting an expert witness for hire serviceis a unique and interesting business opportunity for the innovativeentrepreneur to tackle. The idea is you represent expert witnesses thatcan be retained by lawyers to give professional testimony in court orlegal proceedings.

These expert witnesses could include medicaldoctors, gun and ammunition experts, transportation and automobileexperts, private investigators or just about any other type ofprofessional that can be deemed an expert in their career or industry.

The service would work very much like an employment agency, but withextremely high security measures in place to protect both clients andthe expert witnesses. You can set presentation appointments withlawyers to introduce them to your service and discuss their needs interms of experts needed to testify at trails.

In exchange for providingthe service, you would charge clients a commission based on the amountof money received for providing expert testimony. This is the type ofbusiness that will take very careful planning in order to establish.Partnering with a lawyer may be a consideration.

However, the effortand expense to properly research and establish this business could bewell rewarded financially, as expert witnesses can receive as much asfive figures in some situations to provide professional testimony.

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Business Services

Virtual Human Resources Consultant

Help companies too small to have and HR department on hand as a virtual HR consultant.

Entrepreneur

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Business At A Glance

Virtual Human Resources Consultant
Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

In our enlightened–and lawsuit-mad–world, businesses must tread carefully to make certain they don’t accidentally step on employees’ toes. This causes problems for small and midsized companies that don’t have the time, the staff or the expertise to deal with all those complex and constantly changing human resources issues.

If you’re a human resources expert, you can solve these problems by offering your expertise as a virtual human resources service. You’ll do it all, from writing employee handbooks to handling personnel forms to setting up and administering 401(k) programs. The advantages to this business are that you can work at home and the field is recession-proof. The worse things get financially, the greater a company’s tendency to outsource–and since this is work that can’t legally be ignored, you’ll always be in demand. You’ll need a solid up-to-date knowledge of human resources issues and how to handle them, an aptitude for accounting and record-keeping, and the sales skills to sell your services to your clients.

The Market

Your customers will be small and midsized businesses that either have no human resources departments or might prefer to downsize and outsource to you. Direct-mail your brochure and sales letters to these firms, then follow up with phone calls. Network among professional and civic organizations in your area. Write articles for the business section of local publications. Give talks to business groups. Introduce yourself to bankers, accountants, attorneys specializing in small business, insurance agents–anybody who deals with small and start-up businesses and can give you referrals.

Needed Equipment

You’ll need a good computer setup with a laser printer, a fax machine and the usual office software. You’ll want to have a stock of personnel forms, files and other record-keeping materials, reference manuals, and filing cabinets and handy storage space.

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