Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession

Articles tagged 'Entrepreneurship'

Entrepreneurship, Relationships, The Business of Recruiting

Running a Recruiting Business As a Married Couple


Adventure; Challenge; Partnership…

About ten years ago, we were presented with the opportunity to join forces as recruiters in our own firm. Trudy had been recruiting for eight years by this time, during which time she had developed a strong business in the Biotechnology sector, while I maintained a successful career in sales management in another industry. She happily realized at this point that her business had reached a level where an additional recruiter had become necessary to handle the volume. One day, she called me while I was on a typical road trip and [half-jokingly] asked if I wanted to become a ‘Head Hunter’. To her surprise and mine, I said yes! Ten years later we know this was the right decision for us and we believe it can be for other motivated couples as well.

Entrepreneurship, Viewpoint

Business Ownership Isn’t For Everybody…Unless Your Parents Are Buying You One


For those of you who own your recruiting business, do you remember the first day you either figuratively or literally opened your doors? What a special moment – becoming your own boss. You call the shots. You are fully responsible for your own success (or failure!). You put your hard-earned money, probably almost all you had at the time, into opening your business with aspirations of seeing it grow and prosper. Your business is something you can be proud of, because it’s all yours.

However, there seems to be a new (and somewhat disturbing to me!) trend on the rise with new college graduates. The Pew Research Center recently released a report showing that unemployment is the highest it’s been in more than three decades amongst 18-29 year-olds. According to an article I read yesterday in the Wall Street Journal, some parents are now purchasing businesses for their new graduates, since the job prospects for most new college graduates these days are pretty grim.

While the WSJ certainly puts a happy spin on this new trend, I wholeheartedly disagree with the idea of buying a [child] [college graduate] grown adult an entire business as a gift. When I graduated college, I got a $50 savings bond that has yet to mature so I can cash it in. There certainly is something to be said about working for what you have in life and taking pride in the journey. But perhaps I am just bitter or jealous because my parents didn’t buy me a franchise when I graduated. (with honors… just saying) I guess I missed the part where business ownership is a privilege, because apparently for some it is an entitlement.

“…some parents I interviewed described it as a way of recapturing for their children a stake in “the American dream”—the opportunity to control their destiny and have a chance at gaining wealth.”

Last time I checked, the American Dream was something you actually had to work for, not something you were gifted.