Season 7 | Ep42 Diane Prince on receiving a $10m payout within 6 yrs of launching her recruitment agency!

The RAG Podcast - Recruitment Agency Growth Podcast

Diane started the business with her husband without ANY experience in the industry. But what she did have was the vision to build a scalable and sellable business. And in this episode, she shares how she did it.

Diane saw the value in focusing on one staffing niche; in this case, they decided on title insurance and mortgage. Listen as she tells how they grew their team, why they hired people with industry-specific experience and their steady expansion into new regions.

The goal was always to exit the business. Diane achieved this in just 6 years!

In this inspiring conversation, Diane shares her experience of scaling and selling her recruitment agency and gives you an honest look at everything she’s learned in the process.

Key takeaways

• Why starting a business with the intention to sell requires a clear vision and strategic planning
• How hiring industry experts can be more effective than hiring experienced recruiters
• Pay people well to attract and retain top talent
• Building a scalable and sellable business requires a rinse-and-repeat model
• Avoid distractions and stay focused on what works
• Do less but do it better to achieve greater success
• How to prepare your business for sale
• Building a strong executive team is crucial for scaling and preparing for an exit
• Be aware of the emotional and financial challenges involved in the exit process
• Consider the lifestyle and personal goals you want to achieve before starting a new business
• The impact the money had on Diane’s life (it's probably not what you would think!)

So, if you're launching a business and know you want an exit, you need to take notes!

Chapters

00:00 Introduction to the RAG Podcast and Diane Prince's Story

03:07 Realizing the Value of Knowledge and Experience

04:05 Starting a Business with the Intention to Sell

08:24 Building Relationships and Getting Business

10:39 Determination and Execution: Growing the Business

12:32 Expanding Geographically and Opening Branches

19:36 Finding Niche Markets and Achieving Growth

21:01 Building an Executive Team for Growth and Exit

23:26 Aligning Personal Goals with Business Goals

24:23 Scaling and Managing Branches in Different Locations

27:37 Seeking Support and Advice for Success

27:55 The Importance of Niche Focus and Building a Strong Team

29:22 Mistakes Made: Starting a School and Venturing into Different Areas

30:51 Staying Focused and Doing Less, but Better

34:39 Challenges and Emotions in the Exit Process

41:57 Preparing Your Business for Sale

45:11 Considering Lifestyle and Personal Goals in Business

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Episode sponsor: Untapped

Safe to say, last year was tricky for the recruitment sector globally. Many have had to operate through uncertain times, making tough calls and streamlining where possible.

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