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

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 takeawaysWhy starting a business with the intention to sell requires a clear vision and strategic planningHow hiring industry experts can be more effective than hiring experienced recruiters Pay people well to attract and retain top talentBuilding a scalable and sellable business requires a rinse-and-repeat modelAvoid distractions and stay focused on what worksDo less but do it better to achieve greater successHow to prepare your business for saleBuilding a strong executive team is crucial for scaling and preparing for an exitBe aware of the emotional and financial challenges involved in the exit processConsider the lifestyle and personal goals you want to achieve before starting a new businessThe 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!Chapters00:00 Introduction to the RAG Podcast and Diane Prince's Story03:07 Realizing the Value of Knowledge and Experience04:05 Starting a Business with the Intention to Sell08:24 Building Relationships and Getting Business10:39 Determination and Execution: Growing the Business12:32 Expanding Geographically and Opening Branches19:36 Finding Niche Markets and Achieving Growth21:01 Building an Executive Team for Growth and Exit23:26 Aligning Personal Goals with Business Goals24:23 Scaling and Managing Branches in Different Locations27:37 Seeking Support and Advice for Success27:55 The Importance of Niche Focus and Building a Strong Team29:22 Mistakes Made: Starting a School and Venturing into Different Areas30:51 Staying Focused and Doing Less, but Better34:39 Challenges and Emotions in the Exit Process41:57 Preparing Your Business for Sale45:11 Considering Lifestyle and Personal Goals in Business__________________________________________Episode sponsor: UntappedSafe 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.However, accessing lower-cost resources internationally has proven to be the 2023 cheat code for business performance. But anyone who has tried it knows it’s not easy to get right. That’s where Untapped comes in. Untapped is one of the hottest companies in the market right now, helping agencies in the UK, US, Middle East and Australia transition to the new world, leverage elite remote individuals and even build whole offshore sourcing and recruiting teams. They source from the most exciting talent pools on the planet for recruitment staff and embed elite talent into your company to improve diversity, productivity and the cost of your teams. Your UK team will...