Iconic Resourcing x Genoa Black

Defining the multi-million pound
growth of recruitment firm

Industry: Professional services

.

Over the past five years, Iconic Resourcing has experienced exponential growth, transitioning from a small startup to a significant player in Scotland's recruitment solutions market.

Challenge

Iconic Resourcing aspires to thrive as a business with the goal of increasing revenue from £2 million in 2024 to a target of £10-13 million by 2029, mainly driven by expansion into key UK markets such as London and Manchester. But for this vision to become reality, it must substantiated with a business plan inclusive of well-defined stepping stones that outline the path to achieving these impressive growth objectives.

Our work

Genoa Black validated the vision of the business and outlined a plan for achieving it across the next five years. Using a series workshops the Genoa Black team was able to produce a 1-3-5 year business plan, that was substantiated with a financial model and market feasibility research for both the UK and international market entries.

As a result of Genoa Black’s strategic guidance and research outputs, Iconic Resourcing was able to make informed decisions about their growth trajectory. The business gained clarity on the feasibility of expanding into new markets in London, Manchester, and the UAE, and they had a structured plan in place to guide their expansion efforts over the next several years.

Service mix offered

> Market Research
Genoa Black conducted an in-depth review of the UK recruitment industry, focusing on the competitive landscape. This analysis provided Iconic Resourcing with the insights needed to understand potential opportunities and challenges within the UK market, particularly in major cities like London and Manchester.
> Employee Sentiment Survey
To ensure internal alignment, an employee sentiment survey was created, which gathered valuable feedback from the Iconic Resourcing team. The results, presented to the directors, provided clarity on staff morale and insights into how the company could better support its growth aspirations from within.
> Market Entry Audits: UK and UAE
Genoa Black conducted detailed market feasibility audits for Iconic Resourcing's potential expansion into London, Manchester, and the UAE. These audits offered actionable insights into market dynamics, competitive landscapes, and the challenges of entering these new regions.
> Vision and Business Planning Workshop
Genoa Black facilitated a vision and business planning workshop with the senior leadership team at Iconic Resourcing. This workshop helped clarify the company’s long-term goals and how they could be achieved through a structured growth strategy across 1, 3, and 5-year timelines.
> Financial Modelling
A top-line financial model was developed to assess the financial viability of Iconic Resourcing’s expansion plan. This model helped leadership understand the costs, risks, and returns associated with their growth strategy.

Lauren Jow, Co-Founder of Iconic Resourcing

"The strategic support and work undertaken with Genoa Black have provided Iconic Resourcing with a strong foundation, clear alignment, and a future direction that has propelled our growth. We’ve got a clearer picture of opportunities across the wider UK and international markets, and have successfully launched into new sectors, including marketing, legal, and tech.

Furthermore, we’ve enhanced our service offering by introducing talent solutions – a talent advisory and consultancy service designed to assist businesses of all sizes with strategic advice, from education programs to early-stage recruitment foundations.

The entire process was both enjoyable and invaluable, and we loved working alongside the team at Genoa Black."

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