How I Increased Revenue 30% Without Raising My Rates

Today’s guest blogger is Rob Proudfoot with Apex Global Recruiting Ltd. in Vancouver, British Columbia, Canada. Apex Global Recruiting provides recruitment solutions primarily in the area of sales and sales management. Rob is currently serving as a member of the NPAworldwide board of directors, with responsibility for Canada.

A few years ago I was sitting at my desk here in Vancouver thinking about how to increase revenue in my small recruitment firm. I was contemplating increasing fees, increasing placements, perhaps exploring adding contractors to the mix, etc. This is likely something every recruitment firm owner has grappled with at some point.

Then I had a lightbulb moment. Our Canadian dollar was valued at $0.70 to the US dollar. It seemed very clear to me that there was an opportunity to expand my business purely by doing business elsewhere. I decided to go south shift my focus from Canada to the US, taking advantage of the stronger US dollar. The next thought I had was, “I don’t have any clients in the US. How am I going to do this?” While it was true I didn’t have US-based clients, I *did* have the benefit of belonging to a global split placement network (NPAworldwide). With a few phone calls to my trading partners, I began sourcing candidates for US-based jobs. Voila!

It has now been a couple of years and I have been enjoying a bonus based on the spread in the exchange rate. I have developed solid relationships with US recruitment partners, and I have now secured a couple of clients in the US as well. It has been a tremendous boost to my business, and working in US currency means I have been able to increase revenue by 30% without making any other changes.

When I first started my company in 2011, someone suggested that I think globally. Due to the structure of the recruiting industry, including some trusted partners and perhaps a formal split placement organization, small recruitment firms like mine can virtually do business anywhere in the world! I am grateful that I took the suggestion.