The MILLION DOLLAR question:
How to make a million dollar as a Headhunter?
I am sure many headhunter or potential headhunter will want to know to it.
Below are some of the paths you will need to do to earn that million dollar.
1) When you are being employed by others –You should never ask for a basic salary, once you ask for the basic salary, your income will never reach the million dollar mark.
You will need to get a deal with the company you are working with to work based on 100% commission basis. No basic salary should be asked. That is to say that for every deal done, you will be paid a huge percentage of the sales. How much the agency is willing to pay you will vary upon the individual agency, that are extreme cases where they are willing to pay 80% of the deals, if you managed to find such deals, it will be good to consider seriously.
2) Ask for a very high commission, working in commission based only will be able to yield good money if you are earning at least 80% of every dollar you make. That is to say that for every dollar you generated you will be given $0.80 as a commission. If you are not getting 70% of the deal, switch to another firm that are able to give you that kind of rate.
3) Ensure that the company you joined had a good reputation, you do not want to do all the sales and business and end up the clients do not trust you because the company had a poor reputation.
4) Target on bigger companies– The logic is very simple, only big companies able to pay big bucks, small businesses or companies will not be able to afford your fees
5) Focus on big-ticket job assignments – If the value is too low, you will need to work on many cases to even reach a portion of the million dollar mark.
6) Focus on an industry you are able to handle and become an expert in it. Research, read, travel and dig out anything and everything about that industry. Become the next guru in it and your will become a highly sought after headhunter.
7) Network – Make sure you attend all the events, exhibitions, trade shows, open house, company functions so that you can gather huge network for your database, Not all of them will be useful but it the later part you will need them when the opportunity arises.
8) Your first big case will come only later part of your career- it will not come immediately. Hence you need to have plenty of patience in what you are doing.
9) Get personal improvement every single day, read books, audio, CDs, VCD and videos from top gurus in the industries.
10) Get a mentor that is able to help you, understanding that you are not perfect and need that third party to show you the way objectively and they can motivate you, guide you and pull you back if you are making mistakes.
11) Invest plenty of time and money in technology and outsourcing, this will allow you to accomplish many things within the shortest period of time.
12) Create your personal brand by having a top class website, write articles and engage in social media and let everyone knows that you exist, let them feel your presence!
13) The path to reach your million dollar mark will be full of nasty hurdles but stay focus on what you want and go for it. Never give up.
14) There is always a price to pay to reach the million dollar mark. Determine whether you find it worthwhile to pay those prices, if you decide it is worth to do so, then you will have to sacrifice it and pay them accordingly.
15) Healthy body, healthy mind and great relationship will make your journey easier and smoother. Make an effort to ensure these 3 needs are balanced.
16) Remember that the role of the headhunter is to find jobs for clients and candidates. Never lost touch of this basic rule. Period.