Someone else has the same idea!

[rb80]

Hey,

I hope you all had a Merry Christmas!

I posted on here about a month ago regarding a recruitment related idea I had. I have since been lurking in this forum whilst researching my idea but it's time to post again!

Whilst researching my idea today I came across someone else who has the same idea as mine and is at the same stage. This got me worried as I thought my idea was unique and this has brought up all sorts of questions.

Does the fact that someone else has indentified the same niche make the business viable?
Should I jump in and go full steam ahead to get the idea out first? Or should I contact them and collaborate? Im worried now!!

Thanks.

[Richie N]

Its a bit hard to comment if we don't know what it is you are trying to do.....

[rb80]

Its a bit hard to comment if we don't know what it is you are trying to do.....

Basically set up a recruitment agency.

[Richie N]

Basically set up a recruitment agency.

But you said someone had the same idea as you?

Have you got experience in recruitment?

[Richie N]

Btw this site is really useful -www.startarecruitmentbusiness.co.uk

[rb80]

Yea they've got the same niche idea for a recruitment agency. I haven't got any experience at present but I'm currently trying to gain some. They also said they haven't got any experience, so I think it's important to know the industry first before I jump straight in but I don't want anyone else to beat me to it!

[dataferret]

Just because someone has the same idea does not mean it is a viable business and nor does it mean it is not a viable business. It simply means someone else has spotted the same potential opportunity as you have.

Several things may happen from this point:

1) You may decide not to move this any further forwards
2) Your competitor may decide not to move forwards
3) One or both of you may decide to progress the idea
4) One or both of you may drop out at any stage
5) One or both of you may team up together

....and so it goes on.

Even if both of you decided to progress the idea into a business and compete directly with each other, it does not mean one is going to work or fail. Both of you could spend exactly the same money, time and effort and one may be more successful because of access to opportunities, people and knowledge the other has not got.

If you believe in your business and would spend money to make it work then you need to follow your instincts. If you have any doubts in your mind then it is not the business for you (yet) and you should do something else.

[Richie N]

Yea they've got the same niche idea for a recruitment agency. I haven't got any experience at present but I'm currently trying to gain some. They also said they haven't got any experience, so I think it's important to know the industry first before I jump straight in but I don't want anyone else to beat me to it!

Personally, I would not recommend starting a recruitment agency without gaining experience in the industry. Many try it and fail.
With this current climate the industry is affected so it is definitely not the right time to start, even if you had experience.
I would recommend getting a job in an agency and learning the job, it's not the best time to start but then you would at least experience a recession and will find it a challenge in gaining business.
Once you have this experience, then make your ideas happen......

[Esther]

I worked in recruitment for 13 years and think that if you have the right model and a good attitude (focused on service rather than profit) you will do well. However I wouldn't start this type of company right now!

The larger recruitment agencies are predicting a 50% decline in temporary business next year and permanent recruitment is pretty dead. Any companies that are recruiting are likely to use an established agency with which they already have a relationship.

Also beware of the red tape, if you don't have experience you better start reading up on all the legislation that will affect you.

Feel free to PM me if you have any specific questions and good luck!

[rb80]

I worked in recruitment for 13 years and think that if you have the right model and a good attitude (focused on service rather than profit) you will do well. However I wouldn't start this type of company right now!

The larger recruitment agencies are predicting a 50% decline in temporary business next year and permanent recruitment is pretty dead. Any companies that are recruiting are likely to use an established agency with which they already have a relationship.

Also beware of the red tape, if you don't have experience you better start reading up on all the legislation that will affect you.

Feel free to PM me if you have any specific questions and good luck!

Thanks for your reply. I realise the economic downturn means a decline in business for recruitment agencies so I plan to use the next year to properly research my idea and gain some experience in the sector. I'm just worried that while I do this, the people who have the same idea as mine will start up their business. I suppose it's just something I'll have to live with!!

[cjd]

It would be extreemly surprising - and probably rather worrying - if no-one else has had the same idea.

It makes no difference either way, ideas are 10 a penny, it's their implementation that matters.

[Moneyman]

If you are worried that anyone has the same idea then give up. No idea is ever original in the business world. there are tens of thousands of recruitment guys out there and millions of employees. It doesnt matter what they do as long as yo do it better or cheaper.

[Stephen Berry]

Lessons from the Serengeti (in brief):
Strategies of the elephant - strategies built on knowing the terrain intimately (market, business and competitor knowledge).
Strategies of the cheetah - speed to reach the 'kill point' - strategies to get you to your 'tipping point'
Strategies of the hyena - benefitting from the actions of others or finding nourishment (or benefit) in what others have discarded - such as the negative growth recruitment world
Strategies of the rhino - pressing on with a charge - once you are certain you have all in place - charging on regardless of who or what tries to stop or disuade you - the Rowlings, Dysons, Cauldwells of this world.

If you have 1,2 and 3 worked out - charge on. If you haven't - don't start until you do.

[Moneyman]

Strategy of the monkey...hold on and dont let go until you have another branch to grab.
Strategy of the wildebeest...just make sure you arn't at the front or back.
Strategy of the flamingo...What the heck if you just look good standing about.

hey this serengeti wisdom is fun.

Strategy of moneyman's trip into the serengeti...Torch left hand, big stick right hand loads of toilet paper!

[Stephen Berry]

Strategy of the monkey...hold on and dont let go until you have another branch to grab.
Strategy of the wildebeest...just make sure you arn't at the front or back.
Strategy of the flamingo...What the heck if you just look good standing about.
hey this serengeti wisdom is fun.
Strategy of moneyman's trip into the serengeti...Torch left hand, big stick right hand loads of toilet paper!

I like it ! - will make a note for 2nd edition which is due to be completed by September. :D
I'd swap the hands over - right hand big stick with a trigger attached.
Left hand - definitely - toilet paper is vital.
Last February my wife visited a Tanzanian village and to celebrate the arrival of their guests they adorned a hut with toilet paper the way we would use Christmas decorations.

add to the flamingo .... "this business stuff is easy - look, I can do it standing on one leg!" :D

[vvaannmmaann]

Seems some areas are still recruiting.You may get lucky!

http://www.telegraph.co.uk/finance/4013910/Jobs-its-not-all-bad---some-skills-are-still-hot.html