In Five Years - 5 month reflection

Five months ago, I’ve started In Five Years , diving headfirst into the world of recruitment business focused on Product, Innovation & Engineering teams.

Looking back, it's been quite a ride. Let me break it down into four parts: milestones, stuff I learned, stuff I’ve struggled with and what's next.

Milestones:

• Before I began, doubts were everywhere. The economy was shaky, and I mostly saw reasons not to proceed; fear of income loss, job insecurity, and an unstable market, to name a few. Despite these concerns, I took the leap, and looking back, I'm grateful I did. That decision stands as the most significant milestone in my professional journey by far.
• As I’ve grown up in an innovation agency, I learnt the importance of objectively validating a business (model) by setting clear validation criteria. My criteria centered around two big assumptions: making a certain amount of money and staying energized being my own boss (a role I had no prior experience in). I can proudly say that both assumptions are validated after 5 months.?
• I've also managed to hire more than 10 people already. And I5Y is not just about finding jobs for people; I want to help them grow too, thanks to our mentorship program which connects people we’ve hired with external mentors. Big shoutout to all our mentors! Oh, and I’m still on the lookout for a founder active in a startup/scale-up to mentor one of our Senior Business Development Directors in a MedTech scale-up.

What I’ve learned:

• One thing I found out pretty quickly: it's all about who you know. Using my own network turned out to be super important in getting things off the ground. I also figured out what I5Y is good at. We're focusing on three main areas: Product, Engineering, and Innovation. That's where we shine brightest, especially with scale-ups and growing companies in the SaaS and Product world and a strong network across life sciences / health / medtech / biotech.
• Our clients value our approach of evaluating candidates through business cases, which helps them make informed decisions about each candidate's potential against the specific role criteria. Similarly, candidates appreciate the opportunity to gain insight into the work they'll be doing.
• And when it comes to contracts, simpler is better. My one-page contract makes everyone's life easier; it’s clear / no legal fluff.

What I’ve struggled with:

• Convincing potential clients through cold outreach is challenging. However, there are countless opportunities with growing companies that struggle to find the right people.? I'm relying on my personal network, and word of mouth can certainly make a difference here!
• Bookkeeping is completely new territory for me, and it's intimidating. Nevertheless, I'm glad I've taken the first step with my own bookkeeping through Dexxter , which has greatly enhanced my understanding of how bookkeeping functions.
• Some of my initial job offers weren't accepted. Recruiting entails a lack of control over every aspect. I firmly believe that it's futile to pressure individuals into accepting a position. If they don't feel it's right for them, they shouldn't take it, and that's fair.
• Recruiting operates around the clock, particularly in an international setting. Candidates appreciate it when you're available for calls at unconventional hours, or on weekends, as it can expedite the process. However, in the long term, it's crucial to prioritize work-life balance, a valuable lesson learned in an always-on context.

What's next:

• I've got big plans for the future. I’m working on more solid legal structure (see picture) and giving the I5Y “website” a serious upgrade. Plus, I’m thinking about bringing more people onto the team next year. With the help of some outside experts, I’m also shaping the vision for 2025; e.g. starting with a temp/freelance business unit, starting to work for a corporates, implementing a new CRM but also about finding balance and making time for passions / projects / friends too! Five months in, and we're just getting started.

P.S. This picture is me signing the papers for a new legal structure today, I5Y 2.0! ??