In episode 148, we look at the Profit First system and how website portfolio owners can implement throughout their business.

EFP 148: Profit First: A Different Way To Look At Business Financials

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Most digital agency owners start their own businesses to be their own bosses and have more control over their time. However, they often find themselves overwhelmed with sales calls and meetings, working harder than ever. After falling prey to this pitfall himself, Frankie Fihn noticed that most sales calls and meetings follow the same script, with clients asking the same questions over and over. To solve the problem, Frankie created a system of pre-recorded videos that address common questions and issues that clients raise, eliminating the need for most meetings. In this episode, Frankie joins us to explain his framework for a phoneless, meetingless digital agency. Frankie highlights common obstacles agency owners face and shares the key steps they need to take to stop trading time for money. According to Frankie,  “A common pain point agency owners struggle with is being too wide. They believe anybody with a credit card is a good fit. This dilutes both your messaging and your ability to deliver at scale because you're just doing too much. Just because you can do it for everybody doesn't mean you should.”  By renting out their services, most agency owners are the product. Instead, they should create leverageable assets out of their existing tools and systems. This mindset shift will save you time and allow you to grow your agency exponentially. If you want to learn how to create a streamlined and profitable digital agency without being tethered to a phone, then this episode is for you. Topics Discussed in This Episode:  Frankie's background and his approach to building an agency (02:00) The common pain points agency owners experience (04:00) The importance of streamlining your work and building repeatable systems (10:27) How Frankie automates sales calls (13:41) Frankie’s tips on tasks that should and shouldn’t take up your time in an agency (27:07) Identifying when to use white-label partners to help you grow (32:57) When to outsource and when to bring services in-house (39:19) The key to not trading time for money (48:10) The best piece of business advice Frankie has ever received (1:01:29)  Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Beyond the Agency Box (Frankie’s book) Beyond Agency Profits Facebook Community  Sit back, grab a coffee, and learn how to build a phoneless, meetingless digital marketing agency!

How to Build a Successful Digital Marketing Agency with Zero Sales Calls or Meetings with Frankie Fihn [The Opportunity Ep.157]

When running an online business it’s easy to fall prey to the mindset that everything should happen online. But sometimes, to really grow your online business, you need to step away from the screen and connect with people face-to-face. Take Steven Khanna, for example. He’s the Head of English Markets at White Press, a global link-building and marketing agency. Steven used in-person networking to skyrocket his success, generating over $500K per month for White Press.In this episode, Steven shares how attending conferences and actively networking played a crucial role in his success. Attending just one conference helped Steven grow his monthly recurring revenue (MRR) from $5K to $50K!Steven also dives into the important role that link-building plays in a modern SEO strategy. According to Steven,  “People keep saying that links are not an important ranking factor, but if you look at the backlink profiles of big, successful websites, they’re still building links. Even in troubled times, link-building will never lose its value. Links will always be one of the most important ranking factors for driving traffic and leads.”  Steven goes on to provide useful tips, tricks, and advice on how to optimize your link-building to ensure you are generating the right kind of traffic. This conversation with Steven shows the power of adaptability and perseverance in online business. It’s a reminder that it’s never too late to make your mark! Topics Discussed in This Episode:  An introduction to White Press and its rapid growth (02:46) Steven’s background and how he ended up in SEO (05:49) The benefits of international expansion (12:26) Behavioral differences across different countries and cultures (17:33) How Steven builds trust with his clients (22:04) The important role conferences play in Steven’s acquisition strategy (29:23) How Steven uses affiliates to grow White Press (41:50) The most common myths people believe about link building (50:53)  Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter White Press Senuto Steven’s LinkedIn  Sit back, grab a coffee, and learn the power of in-person networking and the importance of link-building in modern SEO!

Growing a Link-Building Agency to $500K MRR through Effective Networking with Steven Khanna [The Opportunity Ep.156]

There are roughly 88,000 digital marketing agencies in the US and Hawke Media is the fastest-growing amongst them. What is the secret sauce to this kind of growth? Well, according to Erik Huberman, Hawke’s founder and CEO, it all boils down to working harder than everyone else and actually delivering on your promises. In this episode, Erik walks us through the origin story of Hawke Media, from its almost accidental beginnings, to how he scaled the business to its current value of over $150 million. He reveals the challenges he faced while growing the business, how he sustains Hawke’s rapid growth, and how he motivates his team to keep innovating. According to Erik,  “Most people won't push themselves to the limit versus getting pushed. That’s why every major athlete wants a coach and trainer. It's not like Kobe didn't know how to do a workout. But having that outside push and that outside perspective is really helpful. And as the owner of the business, that extra push has to come from you."  Erik also sheds light on one of his key growth strategies; acquiring other agencies. He explains the benefits of this strategy, and how he integrates those agencies and their owners into Hawke’s existing ecosystem. If you’re looking for first-hand knowledge on how to scale an agency to a 9-figure valuation, then look no further. Topics Discussed in This Episode:  Erik’s background and what led him to create Hawke Media (02:05) What Erik did to help Hawke Media become the fastest-growing consultancy (10:02) How Erik sustains his agency’s rapid growth (14:30) The biggest challenges Erik faced when growing Hawke Media (16:23) Why Erik started acquiring other agencies (20:11) There’s always a deal to be made (27:46)  Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter  Hawke Media  Sit back, grab a coffee, and learn what it takes to scale your digital agency to the moon.  

Building the Fastest Growing Marketing Agency in the US with Erik Huberman [The Opportunity Ep.155]

Why start from scratch when you can leverage an existing business’s traction and capitalize on its untapped potential? That is the power of entrepreneurship through acquisition.  Mike Swigunski, a skilled entrepreneur and globe-trotting author, discovered this for himself while building his portfolio of profitable online businesses. In this episode, he walks us through one of his most profitable acquisitions, a SaaS business that he grew to 4x in revenue in just a year. Mike walks us through the acquisition from start to finish, from uncovering the business’s rare potential to the creative deal structure he negotiated and seizing low-hanging fruits for post-acquisition growth. Mike also shares his expert insights into the online business industry, including the lucrative gap in the market he spotted when it comes to acquisitions. According to Mike, “The 500K - 750K range of online businesses seems to be like no man's land. It’s often too big for solopreneurs, and too small for portfolio buyers. It’s a sweet spot that can offer buyers a bit of strategic leverage to negotiate a good deal. Sellers are often more motivated and more open to seller financing and creative deal structures.” Mike’s firsthand experience and expert knowledge offer a roadmap to successfully acquiring and scaling online businesses. Don’t miss a minute of this insightful episode! Topics Discussed in This Episode:  Mike shares his background and his entrepreneurial journey (02:17) A look at of one Mike’s most successful acquisitions - a $500K SaaS business (07:47) The creative deal structure that Mike negotiated (13:57) The dynamics of buying a business in partnership with another entrepreneur (16:36) Finding the right developer to work on a new SaaS acquisition (18:22) Mike's unique due diligence process for this acquisition (24:42) How Mike 4x’d his revenue by capitalizing on low-hanging fruit post-acquisition (26:59) Mike's growth strategies and future goals for his SaaS acquisition (37:57) An overview of Mike’s business portfolio (45:52) Mike’s productivity tips for digital entrepreneurs (51:06)  Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter  Mike’s site (with links to his socials) Copy Sharks Fast Food Spaghetti blog post  Rize productivity app Trello  Sit back, grab a coffee, and get the inside scoop on how to source and scale a SaaS acquisition!

Growing a SaaS Acquisition to 4X Revenue in One Year with Mike Swigunski [The Opportunity Ep.154]

Two of the fastest ways to grow your business are to increase your customer base and improve your offering to attract higher-value customers. What if I told you there was a way to expand your customer base exponentially and enhance your offering in one clever move? That is what Josh Springer does through the power of acquisitions. Josh is the Head of Corporate Development at Hawke Media, a powerhouse marketing agency.Josh specializes in acquiring other agencies and merging them into Hawke’s existing ecosystem. This not only enhances Hawke's services but also brings in a ready-made customer base overnight. Now they have a more powerful team and a larger pool of clients.  In this episode, Josh joins us to explain his approach to acquisitions, from sourcing potential targets to sealing the deal. He explains the different types of deal structures he negotiates, his growth strategies post-acquisition, and the key to smoothly merging a new agency into Hawke Media’s framework.One of the key areas that Josh prioritizes is employee retention. According to Josh,  “The value behind an agency is the people that it comes with. If you start cutting people, you start losing clients, you start messing with culture, then all of a sudden you're left with a shell that doesn't really resemble what you were trying to buy in the first place.”  If you're hungry for rapid business expansion, this episode lays out the blueprint for scaling up through strategic bolt-on acquisitions. Don’t miss it! Topics Discussed in This Episode:  Josh’s background and how he ended up working in M&A; (02:26) Assessing the right time to acquire a new agency as a growth play (05:10) The key to employee retention during an acquisition (08:15) How Josh integrates acquisitions into Hawke Media’s existing structure (10:46) How Josh sources his acquisitions (14:36) The profit margins agencies should aim for at different valuation levels (23:36) The quick growth levers that Josh has learned to pull on his agency acquisitions (25:48) The types of deals Josh negotiates and structures  (30:03) How Josh measures the success of his acquisitions (38:38) The lessons Josh has learned from all of the acquisitions he has overseen (42:55)  Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter  Hawke Media Josh’s LinkedIn  Sit back, grab a coffee, and learn how to scale your business through mergers and bolt-on acquisitions!

EFP 148: Profit First: A Different Way To Look At Business Financials

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