Season 6 | Ep35 - David Spencer-Percival on losing £800,000 in three difficult months at the end of 2022 - and what his team are doing to ensure that results are picking up!

The RAG Podcast - Recruitment Agency Growth Podcast

On this week's show, I am delighted to welcome back a previous guest, David Spencer Percival, known as DSP. His last episode was one of most listened to episodes I ever recorded!

David is the founder of Life Science People, a specialist life science people recruitment firm headquartered in London with offices in LA.

They've got over 85 heads and they're only two and a half years old!

I interviewed David in November 2021, where he'd grown to 65 staff in 11 months.We'd also talked about his story.

Before he was the founder he was part of a number of businesses. He’s most famous for Spencer Ogden but he was also involved in two other businesses that grew to a £100 million in growth and over 500 staff.

The reason we brought him on this week was to talk about the reality of the recession right now.

When we interviewed in 2021, the market was going mad.

There were deals going in for fun and it was an easy place to make money. Life science people were growing super fast!

But by September 2022, the whole market changed.

In this episode David explained how perm recruitment literally ‘fell off a cliff’, and it was only because of contract revenue that the business was able to stay afloat.

He lost £800,000 in three months at the end of 2022. They're now seeing a change as there's some positive signs.

In this episode, we cover:

• Launching the US office just before the recession hit and the impact of that.

• How he kept himself sane, focused and positive despite confidence dropping all over the place

• How he's managed to work with a whole team of rookies, bearing in mind, his whole model is based on academy graduates - training and keeping a lot of these guys

• What he sees happening and predictions for the future.

If you are suffering and you're feeling that the market's a little bit turbulent, listen to David. You'll get some real quality information that you can action.

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Hoxo

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