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December 6, 2017

Last week, we announced the launch of the Startup Funding series. This is a guide for young entrepreneurs exploring funding routes for their startup. 

The first option that we’ll be discussing is angel investment

Angel investors generally tend to be high-net worth individuals who will provide an initial injection of cash for a startup business. Unlike a VC firm, these investors are less focused on the possible profitability of the business, but rather, they dedicate their attention to getting a business off the ground. 

As angel investors usually offer funding at the very beginning of a business journey, they will often ask for an equity stake and/or a position on the board of directors in exchange for their money. 

A business can have multiple angel investors who each give a percentage of the total funding required, and hence each take a smaller percentage of the company, or one investor who puts up all the money themselves.

The benefits of an angel investor:

  • An early-stage cash injec...

November 29, 2017

Growing a startup business? You’re going to need some cash.

A successful business must grow in size to become more profitable. This is especially true in the world of Recruitment: more roles and more clients means more consultants needed to manage the increased workload. Those new consultants then onboard new clients, and the growth process begins again. 

The growth process, though, is costly. From hiring and training new team members, to expanding your office space, it all adds up. 

There are a number of ways that you can fund this growth process; to explain your options in detail, Triple Seven Group are launching the Startup Funding Series

Each week, we’ll take you through a funding option for your business. These will range from Angel Investment, to Mergers, Acquisitions, Seed Rounds and more. 

We’ll explain the benefits and disadvantages of each one, and explain which sort of businesses that each option will be suitable for. 

We’re kicking off next week with Angel Investment. Check bac...

September 7, 2017

Last month, we were asked to take part in a Q&A. 

The title caught our attention immediately - setting up a Recruitment start-up is very much our area of expertise!

Simon shared his thoughts with Recruitment International on the best time to hire for your startup. Read his comments below...

'This is probably the main thing that Recruitment start-ups get wrong. A lot of recruitment businesses grade their success by the number of consultants that they have - big mistake. If each of these consultants is profitable, that's fine, but the wrong staff still need to be paid every month and they drain cash. First off, you need to think about what you want from the business. Do you want a small, but highly successful team, or do you want to build the next big thing? 

Once you know what sort of team you would like to lead, you need a strategy. Should you hire trainees or experienced or both? As a general rule, I recommend expanding only as a result of client demand, ie. if you have pulled so many cli...

September 6, 2017

There are so many factors to consider when starting up your own business. From choosing a name and designing a logo, to hiring staff and onboarding new clients, it can be a real minefield. The most important thing to consider, before you start renting office space or building a team, is whether there is a gap in the market for your big idea. Once you’ve established that your business will provide a service which doesn’t currently exist, or is executed poorly by other companies, you can begin to establish yourself within your target market. 

We’ve put together an essential guide to starting up your own business, including some must-do tips and tricks, and some pitfalls to avoid at all costs!

Formulate and refine your business plan

First of all, you have to transform your big idea into a tangible business plan. You’ll need to establish how you’re going to start out, both on a visionary and practical level, and set objectives for the next month, year and 3 years.

Decide what sort of business...

September 1, 2017

Exactly one year ago today, Triple Seven was born. And what a year it has been! What began as an entrepreneur’s vision, inspired by his previous experiences, is now a profitable startup business. In our first 12 months, we’ve hit some incredible milestones. We’ve chosen our proudest moments for this blog post. 

First office

We began with a 2-person office in WeWork’s brand new Aldgate Tower location - in fact, we were the first ever residents! Fast-forward a year and we now have a Reading and Glasgow branch, and a permanent team of 12 in our London HQ. 

First hire

Harriet Bullough was Triple Seven’s first ever employee; she was also the first ever Consultant at ESG, Triple Seven’s Graduate Recruitment arm. She’s now Triple Seven’s longest-standing employee, and a Senior Consultant at ESG with a thriving client base of over 150 clients. 

First candidate placement

Although Triple Seven isn’t a Recruitment firm (it's a Private Equity business that specialises...

August 25, 2017

According to Forbes, hybrid organisations ‘combine the social logic of a nonprofit with the commercial logic of a for-profit business’. What does this mean? Put simply, a hybrid organisation creates a solution to a social problem, whilst being commercially successful and self-funded. 

For us, though, a hybrid business model means something slightly different. 

Picture a City-based private equity firm. What comes to mind? 

Chances are, you’re picturing a staid, corporate office, filled with middle-aged men wearing sensible-coloured suits. You’re picturing grey boardrooms, ties and top buttons, and contracts thicker than the Yellow Pages.

This is the impression that the Triple Seven Group are challenging. We’ve created a private equity firm that bridges the gap between the often-inaccessible, highly corporate financial industry, and the dynamic, fast-moving recruitment sector, with the innovative creative energy that comes from being a small startup.

For us, private equity and investment is,...

August 4, 2017

Ask any one of Team Triple Seven about their CEO, Simon Taylor, and the first thing they’ll say is ‘he’s always running around somewhere.’ We pinned him down for a cup of coffee to find what he really does in 24 hours…

6:30am - Wake up at home in Essex. Quick flick through emails and social media, before showering and walking to the station. 

7:30am - Train to work. My train journey is exactly 42 minutes - just enough time for an episode of a box set. My current favourites are Billions and Ballers. 

8:15am - Arrive at the office. 5 minutes to grab a cup of coffee then it’s straight into my first meeting, a daily update with our Graduate Rec2Rec team, ESG. I like to stay up to date with every role that each of our 4 brands are working on, their current clients, and candidates in the process.

‘One of the reasons that I decided to work with Simon was his wealth of experience and exposure to different markets. I thought that I could learn a lot from him, but what I have learned has far superse...

July 27, 2017

What sort of company culture do I want to create?

This is a question which has crossed the mind of every startup entrepreneur worth their salt. 

Get it right, and you can create a high-performing business. 

Get it right, and you can build a tight-knit team who work easily and efficiently together.

Get it right, and you’ll never need an employee handbook ever again. 

The ‘right’ company culture is an entirely individual concept that differs from company to company; what works for a media agency will not work in construction, and what works in IT will not necessarily apply to the recruitment industry. 

However, there are certain universal principles which go a long way in creating a positive working environment and a proficient team. 

Flexible working

More and more firms are now recognising that a 9-5, clock-in, clock-out, system is not always the most effective way of getting the most from your team. 

Indeed, a survey from Digital Mums last week found that 73% of millennial employees would be mo...

July 26, 2017

Simon Taylor, CEO of The 777 Group is trying not to use the term ‘laid back’, but it is proving difficult. And so, sat in a comfortable room, within an unconventional shared office space in central London, he’s recounting his journey through his past 20 years in recruitment. It’s clear that there has been some formal, hard work along the way, but Taylor’s whole career so far appears to have been dedicated to lining up the opportunity on which he can now build. He is 18 months into making a differently-minded recruitment business, which undoubtedly delivers value, but does so through a somewhat unique setting. 

  

Taylor began his working life at the SThree group, which he describes as a brilliant training ground. From there he ‘fell’ into the Rec-To-Rec space, finding that while on gardening leave he had both the contacts of recruitment companies looking for talent and the contacts of recruiters looking for new opportunities. In short, he was able to bring the two together without m...

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