Season 7 | Ep21 - Josh Huggins on driving a trade sale exit with a 5-year earn-out process before starting his own agency!

On this week's show, I'm delighted to be joined by Josh Huggins, the founder of GS2, a global sustainability search recruitment firm headquartered in Basingstoke. The business is just over 18 months old, with eight employees. 

Josh shares his journey from being a professional footballer to starting his own recruitment business. 

After becoming the second-largest shareholder at Principal People he, alongside Simon Bliss, led the process of selling the business. 

He had to wait five years and faced many challenges before making the bold decision to leave and start GS2. 

Takeaways

• Negotiating an exit from a previous company can be challenging, especially when it comes to non-compete agreements and investment decisions.
• Focusing on operational billing and setting high standards can help build a strong foundation for a recruitment agency.
• Investing in personal branding and leveraging platforms like LinkedIn can have a significant impact on client retention and business growth.
• Internal recruitment plays a crucial role in building a successful company and finding the best talent to drive growth.
• Having a clear vision and exit strategy can guide the long-term goals and direction of a recruitment agency.

Chapters

00:00 Introduction to the RAG podcast and guest introduction

01:25 Josh Huggins' background and journey to starting GS2

03:20 Overview of GS2 and its divisions

04:39 Target market and clients of GS2

06:02 The changing recruitment landscape and opportunities in a post-COVID world

07:00 Josh's background in football and transition to recruitment

10:46 Joining Principal People and the growth of the business

16:28 Transitioning to a senior role at Principal People

20:44 The process of selling Principal People and the challenges faced

27:51 The decision to start GS2 and the challenges faced

36:48 The attempted buyback of Principal People and the decision to start GS2

40:33 The exit from Principal People and the start of GS2

44:28 Naming and structure of GS2

45:23 Negotiating the exit and setting up GS2

47:39 Starting GS2 and building the team

49:21 Returning to operational billing and setting standards

51:15 Recruiting levels and service offerings

52:08 Investing in personal branding and learning from Hoxo

53:07 Changing the mindset of recruitment and staying connected with clients

55:28 The impact of personal branding on revenue

57:21 Bringing Tom Glanfield on board and internal recruitment

01:00:15 Building GS2 with an exit in mind

01:02:09 The vision for GS2 and future growth

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