You are currently viewing Defining Your Search Firm Strategy

Defining Your Search Firm Strategy

Many of us are solo practitioners, but some members of CoES have an office and team, and a need to define their corporate strategy. Do you need a corporate strategy if you’re a solo? Only if you want to grow and expand your business.

Let’s start with what a strategy isn’t. Your strategy isn’t your mission/vision. It’s not an inspirational document, it’s not a deck, and it’s not tactics. Your strategy isn’t about making money, nor is it about beating your competition. So what is it?

A Strategy Document serves as a comprehensive narrative communicating the direction necessary to succeed in your target market. Brandan Jot Singh wrote a wonderful list of questions to help you explore and define your corporate strategy. We added a few more specific to our industry:

General Strategy Questions

  1. Where do we aim to be in 3 years, and how does this goal compare to our current state as a company?
  2. Which market opportunities and needs should we address to achieve our goals, and why are these the right opportunities?
  3. Which target customers do we believe we can effectively serve within these opportunities? What are the problem areas of these target segments?
  4. What makes our company better suited than others to address these opportunities?
  5. What specific actions will we take to maximize our chances of success in these opportunities?
  6. Which risks do we need to mitigate along the way, and how will we do so?
  7. Under what circumstances would we reconsider our chosen actions during the 3 years?
  8. What distractions must we avoid to maintain focus on our selected actions?
  9. What support do we require to execute these actions effectively?
  10. How will we measure success?

Recruiting Firm Owner Questions

  1. What specific industries, roles, or geographies will we specialize in to differentiate ourselves and deliver the most value to our clients?
  2. What mix of contingent, retained, and contract staffing will allow us to achieve our growth and profitability while managing risk?
  3. How will we leverage tech, automation, and data analytics to gain a competitive advantage in the market?
  4. What strategic partnerships or alliances could we form to expand our reach or enter adjacent markets?
  5. How can we build a strong network of passive candidates in our target market?
  6. Is there a way to productize or package our services into additional revenue streams? What would people pay for that we don’t have to work to deliver?
  7. How can we build a scalable and efficient back office operation to support our growth while minimizing overhead costs and maintaining quality?

We’re focused a lot on Thinking Time right now, and these are wonderful questions to ponder during that time. Even if you’re on your own, these are hyper-relevant questions to think through.

It’s important to note here, that strategy without execution is an exercise in futility. Don’t spend the time thinking and documenting your strategy if you’re not going to implement it. 

Stop working in a silo! Get the support you need from expert coaches and a group of high performing peers. Learn more below.

church of executive search

Tricia Tamkin, headhunter, advisor, coach, and gladiator. Tricia has spoken at over 50 recruiting events, been quoted in multiple national publications, and her name is often dropped in groups as the solution to any recruiters’ challenges. She brings over 30 years of deep recruiting experience and offers counsel in a way which is perspective changing and entertaining.

Leave a Reply