Wed, 8 August 2018
Want to grow your agency to 8-figure revenue? Thinking of growing your team but worried about the overhead? Hoping for a moment of clarity, where it'll all come together? Then it's time to put your foot on the gas and push through. Acquiring quick agency growth is achievable when you're focused. Find out how one agency owner got to $1 million in under 6 months and 8-figures in under 5 years!
In this episode, we'll cover:
Today I talked with Jake Baadsgaard, founder and CEO of Disruptive Advertising, an agency built on results-based relationships. Jake grew his agency to the $1 million mark, run-rate, in six months and was able to exceed 8-figure revenue in under five years. Today, Disruptive Advertising boasts over 100 employees and continues to grow. He shares some thoughts on agency growth, pivotal moments for his company and advice on how your agency can overcome that plateau and accelerate growth.
A Different Agency Structure
Jake's agency has an interesting structure. Disruptive separate out the account management from the execution. He brings in employee and continues the face-time with the client, to ensure the agency is moving in the right strategic direction for the client. He then provides a list of what needs to get done. This develops into the employee taking over the face-time and owning the relationship as well as the execution.
2 Attributes for Quick Agency Growth
Always be in a hurry. Jake always felt a need to be in a hurry and get things done. He attributes their quick agency growth to two things:
#1 Thing To Achieve Constant Agency Growth
Don't give up ~ push through!
There are always bumps in the road. Jake thought about quitting all the time in the first couple of years, but he didn't. After successfully navigating some difficult relationships and figuring out the direction of the agency, he chose to push through.
There is no magic bullet. Don't quit today, quit tomorrow.
The 8-Figure Revenue "A-Ha Moment"?
There were different things that pointed Jake in the right direction, but his true "a-ha moment" came when he realized he was trying to make decisions before he needed to. This approach creates a lot of unnecessary pressure.
It comes down to this: What is your agency's end game? Do you ultimately want to sell your agency?
Once you establish this decision, then you can build something exciting to come to work on everyday. It's all about clarity, vision and communicating direction.
--> See related articles to sell your agency.
How To Overcome the Small Agency Hump
It can be scary to bring on more overhead, knowing that it will cut into revenue. If your agency has multiple partners, that brings the challenge of keeping everyone satisfied while still having room left to grow the financials.
Here's the thing. Sometimes you have to take a hit on your bottom line, by investing in sales and marketing, to feed the pipeline and encourage growth.
It's important to recognize when it's time to move past founder-based selling. To do that, carve out a percentage of revenue to invest in a sales team and marketing team. That's the best way to grow.
Always be building your agency pipeline... and, don't take your foot off the gas.
Don't forget the value that comes from collaboration with other agencies. Strategic partners can be lead to major growth.
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Direct download: How_to_Grow_Your_Agency_to_an_8-Figure_Revenue_in_Under_5_Years.mp3
Category:general -- posted at: 5:00am EDT