B2B Recruiting - IT COMPANIES
Cultivate Advisors Helps IT Recruiting Firm Recharge Revenue Growth to Scale 3X and Achieve 5-Year Plan in 2 Years.
Cultivate Advisors Impact
In 2001 Michael Melendrez started Red Circle Technology to help tech companies connect with the right team. Through his work with his advisor, he was able to grow and scale his own team and achieve many personal goals.
Cultivate Advisors partnered with Mike to:
- Set achievable goals to increase revenue
- Hire and train new team members to own key processes
- Refined services, increase pricing, and create a monthly retainer with clients to increase revenue
Challenge
In 2017, Mike Melendrez just celebrated 16 years in business. And while the business was successful, it was still a long way from achieving Mike’s vision. They wanted to move faster and, struggled to scale with their current model. At the time, Mike struggled with having a solid structure for his team. He was setting high goals without a proper plan to achieve those goals, making scaling difficult.
Solution
When Mike met with his advisor, they sat down to develop a custom plan. Using his business expertise, and understanding of the recruiting industry, Mike’s advisor was able to partner with him and take into account Mike’s unique business model and personal goals to build a roadmap.
Mike wanted to scale. Mike and his advisor worked together on a play to get 2 new searches and fill 2 new searches every month. Developed a cadence that allowed his team to get into a rhythm.
Next, they tackled his financials. They worked together to standardize pricing and structuring a hybrid compensation model that put clients on a monthly retainer. This allowed Mike to recharge revenue growth from 5 years flat.
Currently, they’re working on sales. Because of Red Circle’s unique business model, they only need a handful of clients. So Mike and his advisor word together to create a sales strategy that worked to Mike’s strengths and allowed him to continue to develop his large network within the Chicago tech community.
Outcomes
With a system in place, Mike has created more stability in his team from a leadership and recruiting standpoint. He has been able to 3x revenue, and achieve multiple personal goals including buying a family home in Chicago (a 5-year goal he was able to accomplish in 18 months).
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