Starting your own business is thrilling but nerve-wracking. As an entrepreneurship consultant, I often get asked: "How many job applications will it take before I can leave my 9-to-5?"
The job search process can be grueling. But with a strategic approach, your hard work will pay off. Here‘s what the data reveals about how many applications small business owners should expect to submit.
Key Stats Small Business Owners Should Know
Before digging into the nitty-gritty details, here are the key statistics:
- On average, 21 to 80 applications are needed per job offer
- For corporate roles, roughly 250 people apply per opening
- After 3 interviews, 51% of applicants receive an offer
- Submitting 2 to 3 focused applications daily boosts your odds
- In 2021, applicants had just an 8.3% interview rate from one application
- 80% of jobs come from networking, not online applications
As you can see, persistence and casting a wide net are key. But what do these numbers look like for entrepreneurial applicants?
How Many Applications Do Small Business Owners Need to Submit?
Based on my experience advising aspiring entrepreneurs, here is what to expect:
More Networking, Less Applying Blindly
Cold applications on job boards rarely work for small business owners. Instead, leverage your network to find unposted openings. Attend local chamber of commerce and industry events to connect with other entrepreneurs. 80% of new small business owners land jobs through networking.
Targeted, Customized Applications
With each application, cater your resume and cover letter directly to the role. Highlight how your skills would benefit that particular company. As a small business owner, you likely wear many hats – be sure to emphasize abilities like operations, marketing, customer service and budgeting.
Persistence Is Key
You may need to submit 50 or more applications before getting that first interview. Starting a business requires grit and tenacity – rely on that experience during your job search. Follow up with your network contacts regularly.
Expect a Longer Process
For corporate roles, the hiring process takes around 42 days on average. For small companies, expect this process to take 2-3 months. The recruitment process tends to be more informal and drawn out.
Tips for Entrepreneurs Seeking Jobs
Here are my top tips for small business owners navigating the job search process:
- Scrutinize job descriptions – Ensure the role aligns with your skills and interests. No need to apply if it‘s not a fit.
- Leverage your network – Reach out to your contacts at small companies to discover unadvertised openings.
- Highlight transferable skills – Emphasize abilities like operations, budgeting, customer service and marketing.
- Brush up on interviews – Practice articulating how your entrepreneurial experience applies.
- Follow up persistently – Don‘t be afraid to check in regularly during the extended hiring process.
Key Takeaways
The bottom line is getting hired as an entrepreneur takes persistence. But utilizing your network and showcasing transferable skills will give you a leg up. With a focused, strategic approach you can land the right role – just be prepared for an extensive process. Stay gritty and creative as you market yourself to new employers.
