I signed a 1-year contract for LinkedIn Recruiter, $800/m premium service.
I had just started my own recruiting agency and I really believed that I needed all the features that LinkedIn Recruiter offered. I knew it was pricey but I also considered the purchase a good investment.
In the back of my mind, I could hear my old bosses voice warning me against this decision. I remember having lunch with him once and he said, "When you're just starting out, don't commit to anything over 6 months. You never know what's going to change and you don't want to be locked into anything that you can't get out of."
Three months later my partner and I had basically figured out how to hack around LinkedIn and all its barriers. All of the features that I was paying $800 a month for became useless. In fact, I figured out that Sales Recruiter, which was around $100/m at the time, in combination with all of the tools and strategies we discovered (around $50/m cost), was much more effective than the features of the $800/m plan.
In short, I realized I could pay $150/m and get better results than I could by paying $800/m to LinkedIn. (I'm happy to fill you in on why LinkedIn Recruiter sucks if you want to shoot me a message.)
So I ended up calling LinkedIn to try and cancel my 1-year contract. Of course, they would not let me cancel. 3 months later my partner and I decided to part ways and I got out of the recruiting game completely. So in 6 months, I went from absolutely needing the LinkedIn Recruiter service to not needing it at all. And I was stuck with an $800/m bill for 6 more months.
Unfortunately, when my recruiting company failed, it left me broke and in a lot of debt, on top of that I still had an $800/m bill to pay, which I could not afford. I called LinkedIn and explained my situation and they still wouldn't let me out of the contract. They said unless I declared bankruptcy and provided proof of bankruptcy that I could not get out of the contract. This made me hate LinkedIn with a passion.
My old boss was right. When you're starting out, do not commit to anything for more than 6 months, because you never know what direction your business is going. You might end up broke like I did and you still have crippling financial commitments.
Now that I have new partners and run a successful marketing agency, events company and crypto investment fund, we take a smarter approach. Although we have much more stability and faster growth we still take our commitments in small chunks.
For example, I'm securing an office here in Los Angeles although our main office in Scottsdale, AZ. I can either sign a year-long contract and get the office cheaper, much cheaper. Or I can pay more for month to month.
Can you guess what option I chose?
In the next year, I'll be traveling like crazy and our companies are growing fast and constantly evolving. In two months, having an office in Los Angeles may not make sense at all.
If you are starting or even if you run a business already, please learn from my mistakes.
Does anyone else share a similar story?
- If there is any way I can help you with anything please feel free to reach out. If you'd like to follow our companies growth and see what we're doing you can follow me on Instagram @quintinford_ or tune in here on Facebook. Everything from IG goes to my FB stories as well. -
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