Starting a Recruiting Firm #2 - Get your Ducks in a Row!

I was resting after three sets of tennis this past Saturday, and I noticed the beautiful pond that lines the courts. A mallard and her baby ducklings were lined up on the running path, crossing a small bridge to swim in the lake. I watched as Momma made sure her little babies were lined up behind her, and as she waddled across the bridge, she corrected course a few times, quacked an order or two, and successfully got her flock into the water. It made me think about the recruiting world and how to successfully get your ducks in a row to begin a new venture. Here are five absolute musts to get you started, and see if you can guess the movie quotes used for each:

1. “You’re the expert. I just work here.” Line up the right experts - this is critical. Strong, seasoned advisors and partners can guide you through the process and answer key questions. You’ll need a CPA at the partner level, a small business banker with some skins on the wall, an attorney, a benefits broker (health insurance, business insurance, life insurance for later), a printer for marketing collateral, and a financial advisor to get you pointed in the right direction.
   
2. “You complete me.” Opening and running a successful business is no small feat, and according to the Small Business Administration, 90% of new businesses fail within the first year. With that said, you need a blend of talents. Finding the right people to bring on the bus is crucial. Blend risk taking with the voice of reason, strategy with the rock and roll types. Complement and augment your strengths with others whose talents are your weaknesses and vice versa.
3. “My name is Zeus!” (Bet you thought I was going to say Bond. Too easy!) Unless you’re going with “Your Name” & Associates,” the company name should be something that will never need to change, even if your business does. Let tag lines describe what you do so your name can live on regardless.
4. “A truly great structure, one that is meant to stand the tests of time, never disregards its environment.” You’ve heard of them all, but what a confusing mess. Each of these structures has significant legal and tax benefits and consequences: LLC, PC, LP, LLP, Inc, S-Corp, Sole Proprietorship. Ugh! Make these decisions with the advice of your attorney and CPA. These advisors went to school specifically to provide you with the expertise you need. I recommend you also get your tax and legal advice from a CPA AND attorney, and do your homework to find the right fit for you. They’ll set you up properly, file the right forms, and make sure you are doing things legally.
5. “God bless the internet.” What does hanging your shingle on the information superhighway entail? Getting a web address that is small enough to brand your company is getting harder to do as everything under the sun seems to be taken. Register your domain name with an online service (just type “domain name registration” and you’ll be on your way), and consider grabbing other extensions besides “.com” (such as .org, .us, .net, etc.). Lastly, partner with a web design company - and I mean design company - because you are going to spend hours and hours answering questions, thinking about your strategic direction, your service offerings, your contact page, your web presence and more.

These are just some of the things to get you started. And by the way, who can name the movies that the quotes came from in the list above? “You complete me” is easy, but what about the rest? Let me know! To finish, I’d like to quote Coach Orion from the movie “The Mighty Ducks.” Keeping with the duck theme, right? Check out the movie quote in this video - Quote from the Mighty Ducks Movie