There has never been a better time in history or more of an opportunity than it is now for marketing agencies or service agencies to scale a lucrative business.
However, for many owners of these types of businesses, this isn’t happening.
Most are either stuck working “IN” their business vs. “ON” their business.
When they try to grow, they run low on money, or they become overwhelmed trying to handle everything going on in their business and trying to keep all the balls in the air.
Scaling an agency can be a simpler process and highly lucrative if it is done in a way that goes a bit against the grain of what most marketing agencies are doing.
I have watched multi-million-dollar agencies go out of business because they were trying to build their business the hard way.
Here are six steps to scale your agency to 1 Million Dollars and beyond faster, with fewer headaches and more freedom from your business.
- Think like a CEO or Boss – You must get out of thinking like an employee in your business and start looking at how you can build a business that can run without you in the daily grind.
A CEO is looking at the big picture to scale the business and that is where they put their focus. They are not doing what they can pay someone $15-$20 an hour to do.
- Have a SCALABLE BUSINESS MODEL – Most agencies offer many kinds of services vs. getting focused on becoming the EXPERT in ONE THING.
A scalable (high-profit) business is streamlined and simplified. It is easier to market, easier to stand out against the competition and easier to build systems, processes, and a team. Think RINSE & REPEAT!
- BE THE EXPERT and the GO-TO agency for the thing you can deliver better than anyone else. Most agencies don’t use this brilliant strategy to dominate. Experts can charge more and make more money. Experts aren’t a “Jack of all trades.” Customers and clients SEEK the EXPERT, not the generalist.
- GO GLOBAL – Many agency owners are still trying to be a local agency vs. tapping into the global opportunity they have. This is often why they offer so many different types of services.
Fishing in a smaller pond requires agencies to expand their services. However, by doing this, it most often results in lower profits, and a more difficult business to scale. Specializing in your agency and going global will help you stand out and be the sought-out agency for your expertise.
Build systems, processes, and a team. Trying to wear all the hats is not a scalable business. As an owner, you will hit a revenue wall every time trying to do everything yourself.
You must remove yourself from the work required to deliver the services and put in place what is necessary to replace yourself with other people and automation. The great thing about having a simplified business model means you will not require a large team.
- Know your numbers and run your business by the numbers. If you are offering multiple types of services, it is difficult to hit revenue goals.
Imagine having different services ranging from $100 to $50,000. You try to sell some of this and some of that and it will be harder to hit your goals. But, it will be easier to build a Million Dollar Business by FOCUSING on the $50,000 service. How many customers would you need? Twenty, or less than two a month.
How about a $15k offer? You need sixty-six customers or 5.5 a month. Do you see how much easier this type of model is?
Now, once you know how many customers you want, how many leads do you need to get to hit those numbers? When you have a scalable model (with services priced right), a business can be more predictable.
There you have it. How to scale your agency to a Million Dollars. Rinse & Repeat is my favorite strategy to help business owners build their businesses with higher profits and more predictability.
If you want help to scale your business into multiple six or seven figures and this newsletter resonates with you, book a call with me at A.carden.com. I want to wish you all the best through the holidays.
If you would like more education and training on growing your professional consulting, coaching, or client service business, here are some ways to get more!
- You can subscribe to my EXPERT IN YOU PODCAST & SHOW. Choose the platform you like!
- You can subscribe to my YouTube channel.
- You can attend my upcoming Expert In You Business Accelerator & Marketing Luxury Retreat!
- You can book a call if you want my help to grow and scale an Ultra-High-End Coaching or Consulting business!
Did you find this blog valuable? I would love to hear your feedback and thoughts.
To your success,