Smart Agency Masterclass with Jason Swenk: Podcast for Digital Marketing Agencies

Are you trying to grow your agency by offering anything and everything your clients could want, yet still feel like it's not enough? The solution starts with knowing what you do well and what you don't. You could actually grow easier and faster if you are self-aware and start cutting back agency services. It seems counterintuitive but it's a strategy that is working right now.

In today's episode, we'll cover:

• How to decide who to hire first.
• 3 phases of agency growth.
• Why cutting back services helps agency growth.

Today, I talked with Bryan Phelps, CEO of Big Leap — the SEO agency he founded in 2008. Bryan started off building websites for paintball gear as a teenager and slowly grew from a one-man startup to an SEO agency with a team of 70. Bryan is here to tell us how he grew his team and why cutting back on service offerings actually helped his agency soar.

How to Decide Who to Hire First

Do you handle the entire day-to-day of your agency? Are you the Ops, Sales, and Dev team? If so, stop! I know it can be difficult to let go of the reigns. You feel like hiring employees will make your life harder - there are people to manage and payroll to meet. But trust me it doesn't have to be that way. Not only are employees able to handle some of those tasks, but they can bring skill sets that you don't have.

Outsourcing and hiring are one of the first steps towards successful agency ownership. Real growth begins when you are self-aware enough to know your strengths and hire or outsource for your weaknesses.

Here's a great question: who should you hire first? A salesperson that can help you fill your pipeline? A project manager who can manage the details of your clients and projects? Or, maybe another creative to help you push out assets? Here's the answer: it could be any of the above. You need to figure out which role will help you the most and then move on it.

We all have weaknesses. Bryan and I agree that you have to identify yours and hire someone who can help you in that weak area. I was always great at sales, but I wasn't the best project manager. So, I hired one - it's that simple.

Side note: a lot of agencies I work with seem to have issues with agency salespeople. It can be difficult trying to find an agency salesperson who has the skills to both curate prospects and close deals. Guess what? (Shameless plug coming...) My partner and I developed SalesPipelineAccelerator.com so you can outsource the finding, hiring, and training agency salespeople.

The 3 Phases of Agency Growth

Bryan says his agency went through three major phases (so far) in their growth trajectory. Here are the milestones he identified:

1- Doing It All - Starting out is tough. When you first start your agency, you're handling everything yourself. This is the headache stage. You have to handle sales, ops, creatives, etc. You're working a ton of hours and wearing many hats. It's hard but necessary.

2- Having Enough Help - This is the stage when you are at about 10 employees. You have enough team members that you can finally start to hand over things over, but you're still pretty well involved in the daily operations. You're still working on projects and handling clients, but you've got enough help that it feels more manageable.

3- Changing Operations - With a solid team in place, you can really put the business under a microscope. You can look at internal things like company culture and get really focused on core values. But you can also look at your service offering and figure out which areas of business are crushing it and which ones aren't. When you do that, you might start cutting some of your service offerings.

Why Cutting Back Services Helps Agency Growth

Why would you cut back service offerings in order to grow? Here's the thing - you can't be awesome at all the things. If you're new, you may be trying to do everything. You want to be the one-stop-shop for every clients' needs. That's okay. You can try to do that -- at first. But, if you've noticed that you've started to slow down in your growth, it may be time to choose one thing and get really laser-focused on being the best.

Specializing or niching can be a great way to boost your growth fast. For example, Bryan's agency grew 20% in two months after he stopped providing PPC ads. Why? Because he could hyper-focus on SEO. Specialized surgeons bring home the bacon for a reason. People want to work with the best in a given category. Be the best in your category.

You may want to develop strategic partnerships with another agency as Bryan did. He sent them his PPC business, and they sent him SEO business. That way, both agencies benefit from the partnership.

Get ready for some amazing insight from Seth Godin, the father of permission marketing. He dives deep into branding your agency, determining value, niching down, and so much more! There's a ton of value here to help you grow, scale, and enjoy your marketing agency.

In this episode, we'll cover:

• The future of marketing agencies.
• How to stand apart from agency competition.
• What's the difference between a logo and a brand?
• 2 steps for agencies to determine value.
• Why agencies need to select a niche.
• What clients really want from agencies.
• How to leverage your strengths to win clients.

It is my distinct honor and privilege to interview Seth Godin on the show. Like so many in the industry, I'm a huge fan of everything Seth had written and I'm so inspired by his wisdom. I think just about everyone knows him, but in case you're the one person who doesn't… :) Seth Godin is an author, speaker, entrepreneur and most of all, a teacher. He has written 18 best-selling books, including This is Marketing and Purple Cow. Seth has also founded two companies, Squidoo and Yoyodyne (acquired by Yahoo!). He's motivated and inspired entrepreneurs and marketers around the world.

What's the Future of Marketing Agencies?

There's an old school definition of an agency where they bought the ads for brands and created the ads they'd place. These agencies earned a percentage of the ad spend and charge a fee for the creative elements. But, Seth says, twenty years ago that agency model started to shift.

At the early stages of the internet boom, brands no longer needed agencies to buy ads or create them. Beginning then and even truer today, Seth believes agencies need to be advisors to brands. Clients need you to help make their products or services better.

Agencies have the ear of the CEO. Therefore, the future of agencies lies in building that relationship and being the liaison between the CEO, the other departments of the business - like engineers and other creators, and the consumers themselves.

Related: The Future Outlook for Marketing Agencies in 2019

Using Pricing As A Differentiating Factor

A lot of agencies tell me they watch their competition and then charge slightly less, and that's their strategy for staying ahead of the competition. My advice is always: don't make lower prices be your differentiating quality.

Seth agrees and shared a story about his 1995 business venture "Get Rich Click." While Yahoo! was selling clicks for $2.00, Seth was selling them for 50-cents. He says he knew he was only going to be successful until someone else started selling them for 49-cents. You know what happened? Yahoo! bought them and eliminated the competition.

Friends, you cannot grow your agency if you're racing to the bottom!

What's the Difference Between a Logo and a Brand?

Are you building a brand, or is your agency just a logo? Seth talked about the difference between a brand and a logo using his example of Nike and Hyatt. He asked if Nike started a hotel chain, could you envision it? Yes, of course. But if the inverse were true, and Hyatt created an athletic shoe, could you envision it? Not so much.

The difference is, Nike has built a brand. Consumers know what they stand for and believe in. So anything and everything Nike does, their customers know what to expect. Hyatt has built a chain of hotels, but their name and logo may as well be interchangeable with others in the industry. They don't represent or stand for anything specific.

So - while growing your agency, be clear on what you stand for and convey that message to your audience. This is what will build your brand and help your agency stand out.

2 Steps for Agencies to Determine Value

Seth says we have to get away from the "more and better" mentality. Meaning, stop thinking about getting more clients as your way of being better than the competition. If all you want are more clients, then your worth is tied to how busy you are but if you really want to be better then there are two questions to answer when determining worth:

1. How much do you cost compared to the alternative?
2. How much is what you do worth to your target market?

Seth says you have to be the one and only… if you're no better than the alternative, then you're not worth more than them. It's that simple.

Why Agencies Need to Select a Niche

Selecting a niche does not mean serving a small audience, it means serving a specific audience. Seth believes it's super important and here's why... The web is not mass media. We think it is and we treat it like it is, but it's not and users aren't using that way. We act like there are infinite possibilities when marketing on the internet, but that's just not true because people are online searching for very specific information. If your message is too broad you can't and won't be found.

As I like to tell agencies, marketing toward one niche does not mean turning down work from clients outside your niche. It just means you're laser focused in one specific niche and aiming all your marketing toward them.

Let's be clear -- you will not miss out on any business if you become a leader in your niche.

Truth is, you're already missing out. Seth says "you have to figure out how to be missed when you're gone by the smallest group that can support you." That's when you'll have clients knocking on your door and they'll bring their friends.

What Clients Really Want from Agencies

A large part of the reason people make purchase decisions has to do with status. Seth believes decisions are based on preserving or improving status. So, what your clients want from their agency provides some version of status.

"Change doesn't happen without tension" ~ Seth Godin

Therefore, your content marketing needs to create tension in order to inspire change. Seth believes we need to create content that grabs attention, builds trust, and turns on permission marketing. The trap many fall into is making it all free, all the time. The key is giving just enough free content to make them realize you know your stuff!

Related: How to Quit Losing Clients by Knowing What They Really Want

Leverage Your Strengths to Win Clients

Agencies can use the network effect to create change. Essentially, the network effect occurs when an increased number of people improve the value of a product or service. Seth believes marketing agencies are in the perfect position to create a network effect through their relationships with brand CEOs.

He says the system that built our economy and our culture is changing forever. You must invest the time to understand the system and learn what's necessary to create a product or service that spreads. That's how your agency will be successful and significant.

Seth references a sign he saw when he was speaking at a Walmart event many years ago. The banner read: You Can't Out-Amazon Amazon Walmart knows its strength is low prices. They know Amazon's strengths too. And they know they can't compete with Amazon. So instead of trying to "out-Amazon" the competition, they're continuing to do what they know they do well.

Know your strengths. Know your weaknesses. Recognize what they are, what they aren't, and what they can't be. Stop working on your weaknesses - just go be the best in the world at what you do well.

Looking for a way to add tons of value and increase services to your agency clients? Have you considered adding video as a service but not sure where to begin? Adding video can seem overwhelming but it doesn't have to be. With the right processes and systems, you can dive headfirst into offering video services to your clients with minimal investment. Learn how to seamlessly transition to a video offering so you can help your clients share their case stories. When they sell more and you sell more - it's a win-win.

In this episode, we'll cover:

• How to build better relationships.
• Video marketing doesn't require a huge upfront investment.
• 3 video marketing strategy tips.
• #1 way to convince clients to buy your videos.

Today, I talked with my good friend Ian Garlic. Ian runs a successful video marketing agency, authenticWEB, hosts his podcast, The Garlic Marketing Show, and consults on video shoots — now there's a trifecta! :) Ian has worked with big names, big businesses, and traveled internationally on shoots. Ian is on the show to tell us how existing marketing agencies can easily offer video marketing as a service. He's sharing the ins and outs, as well as tips and strategies to make sure you're successful right out of the gate.

Video Can Help Build Better Relationships

We ALL want better client relationships. When you welcome an awesome new you create a killer campaign, and then... what? They walk out the door and never come back. Or they move onto another agency that can do more of what they need. Offering a complementary service, like video, is a way to keep those clients around longer.

Here's the great thing about video content. It's permanent. Facebook strategies shift, Google's algorithm changes, and those CRO strategies go out-the-door when the next big buzzword hits the scene. But, all videos — they aren't going anywhere. You can shove that video content into any other strategy, and it's universally understood. Clients love video content because it's evergreen.

When you start pitching video content, you really have to understand your clients. What's their story? Why are they here? Once you sit down with them for a strategy session and really get to know them, they're going to stick around because you get them. They won't run off to the next agency that shoves a cooler, better strategy in their face because video is video.

Why Video Service Doesn't Require Huge Upfront Investment

I know what you're thinking. You don't have the time, resources, or people to start offering video. You're wrong. It's a lot easier than you think! Ian says you really only need one videographer and a solid strategy. The rest of the stuff - copywriting, editing, etc. - you can outsource. When Ian started, he didn't hire a team for video production; he hired a videographer and outsourced the rest.

How did he do it?

He had a process! You have to have a system in place that tells people what they need to get done. Without a system or even the right checklists, you'll likely be scrambling to get everything done, and you'll unknowingly let things slip through the cracks.

3 Video Marketing Strategy Tips

1. Determine your low-hanging fruit. Make a list of which of your current or past clients could work well with video. Don't think you have to go out and capture new leads to sell your video service. You don't. Think about who, among your existing network, could benefit from video and pitch them a strategy utilizing your video service.
2. Nail the strategy session. Strategy sessions are a great way to get to know your clients. But, they're also an excellent way to build your process. During the sessions, you'll figure out what the client needs, which is going to tell you what you need to do, step-by-step.
3. Map it out to a successful end result. Now that you know what the client wants, start figuring out how you're going to do it. Get the sale first! Then, come up with a plan of how to execute the strategy you just made with your client. Don't worry about building a team. Just make sure you give the client a clear understanding of the plan and regularly communicate the goals.

How to Sell Video to Your Existing Clients

How do you actually get those clients to pull-the-trigger on your new video service? Put everything in perspective. Ask them this: "How much is one lead worth to you?"

Flip their mindset from looking at video as a cost to looking at it as an investment. If they're a service-based business, one lead may be worth a thousand dollars... up to ten thousand. Once they think about the ROI for a second, they're going want 20 videos. If those videos only score them a few leads, they're still going to come out on top.

The same thing works for non-service clients too. Have them think about the entire process in terms of ROI. They're going to see video as an expense. However, you need to sell it is as an investment by pointing out the benefits of this evergreen, multi-use content.

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Are you trying to figure out how to scale your agency? Do you want some killer agency growth tips? Finding clients can be tough, especially if you don't yet have a salesperson or team in place to land more clients. But, if you play your cards right, you can skip some of the typical growing pains in order to grow and scale faster.

In this episode, we'll cover:

• 3 ways to reel in more new agency clients
• How to know when to hire a salesperson.
• #1 way to capture clients in the beginning.

Today, I talked with Kirk Deis, co-owner of Treehouse 51 and creator of proprietary software Bugsquasher. Kirk started off building Tumblr sites, ghostwriting, and grinding in the freelance world. Three years ago he finally decided to make the jump from freelancer and started his own agency. Like all new agencies, he learned some tricks along the way, and he credits is business for mentoring him along the way. Today, he shares a ton of great tips for breaking those first barriers.

3 Ways to Reel in More New Agency Clients

Wondering the best ways to build trust and authority in the market? Capturing prospects' attention can be tough in the beginning. Here's how you can reel in your ideal clients by building trust and authority.

1. Be a student. Too many new agency owners fall into the trap of trying to leverage themselves as experts. Don't be afraid to ask for help! Connect with mentors, interview experts, retweet or share social posts by others. You don't need to have all the answers, you just need to know where to find them and how to connect to them. All these things help build instant credibility and maybe even score some clients.
2. Connect on social media. Everyone is on social media - use it to find and talk to them! Connect with other agency owners or marketing experts and create some deep, meaningful connections. Find out who's doing it better than you and connect with them. Help first rather than asking for help. These relationships can lead to tons of new opportunities that would not be possible without social media connections.
3. Do free stuff. Don't be afraid to do your first few jobs for free! It's a great way to capture the attention of prospects in your niche and build authority. You will build up a portfolio and be able to ask for testimonials. It's that sort of priceless social proof that lands clients more easily than any paid ad campaign ever could.

How to Know When to Hire a Salesperson

I get this question a ton. When do you hire your first salesperson? Kirk hired his first salesperson at the $500k mark. But, honestly, it's not about when you hire your salesperson, but how. Most agency owners think they can be the sole salesperson, and there are some that can (like Kirk, for example). But, having a dedicated salesperson is the best way to truly scale as well as fill your pipeline.

If you're the founder and owner then it's hard for you to focus solely on sales. That means when you are focused on sales, then sales are great. But when you're pulled into other areas, such as delivery, then sales suffer. If your agency is suffering from big ebbs and flows of sales and the owner is the one handling sales, then it's probably time to hire a salesperson dedicated to that role.

Here's the thing. Don't just hire a salesperson and then tell them they have to sell your way. Give them the freedom to sell their way. Here's the trick. Define the outcomes, not the strategy. Maybe start them off with just selling your foot-in-the-door offer, then you could assist with selling the next project. The key is to assist, not dominate the whole process. If you start trying to force salespeople to work within your parameters, you'll end up with a terrible experience.

#1 Way to Capture Client's in the Beginning

It's less about what you've done and more about how you do it. So don't worry about a solid portfolio, just nail down a great process. You don't have to show off your previous work; you need to explain what sets you apart. Sit your prospect down and tell them why your process is better than your competitors. Do you make websites? What's your process? How is it better than your competitors? Why do your sites convert better than other agencies? If you don't know, figure it out and then point it out to your prospects!

Clients want to know why they should choose you. They don't want your secret sauce ~ they just want to know you have one :)

That great looking portfolio may get your foot in the door, but your process will convert! Here's the thing about your process, it must be fluid. There's always a better way to do things. Your agency should be that better way. If it is, your prospects will notice, and they will definitely be interested.

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Would you like to win more clients without the pressure of selling to them? Would you like to know how to improve relationships and build authority? Stop wasting time, energy, and resources by networking. Instead, leverage media to help you win more agency business without constantly selling. Learn some great growth hacks through the art of preselling.

In today's episode, we'll cover:

• Why you should start interviewing others.
• Why you should start being interviewed by others.
• #1 hack for selling more to your ideal clients.

Today, I talked with Steve Gordon, Founder of Unstoppable CEO. Steve works with professional services firms to help them convert more prospects through the art of preselling. Steve hates the traditional networking grind (so do I!) So, Steve is a big fan of prospecting for clients through mediums like podcasts and video. Here's here to share some valuable advice on building relationships and authority so you can land more business without selling.

Why You Should Start Interviewing Others

Do you want to build authority fast? Start interviewing prospects to help you grow your community of followers. Steve is a big proponent of recorded client interviews. What's a recorded interview? Well, podcasts are for one! Why is sitting down with an expert guest so valuable?

1. Build your content library: Not only are you getting your prospect in a room with you, but you're also creating value-added content for everyone in your network.
2. Grow your reach: Whether you're using a podcast, YouTube, or webinars, sitting down with a guest is a surefire way to increase your reach. Think your guest won't share that interview with his whole network? Think again. Most guests want to promote your show because you've set them up as an expert. They're as proud of the interview as you are!
3. Low-cost point of entry: You don't have to spend a ton on equipment in order to interview guests on a video show or podcast. In fact, starting a podcast is easier than you think.
4. Eliminate the sales game: Your prospects are consuming your content on their own terms. Some will binge watch/listen. No matter where or when they're listening you're establishing a relationship with many while talking to one.

Why You Should Start Being Interviewed by Others

Think interviewing clients is the only way to build credibility and scale your network? Nope. It works both ways. Get yourself booked on other shows where your ideal clients are listening. Not only does this get you out in front of a new crowd of potential prospects, but you're also building relationships with the interviewers. That's a double whammy. Being a guest on a podcast is easy! Just offer their viewers valuable content by speaking on topics that solve one of their pain points.

If you have value to share, there are podcasts out there looking for you. Try the reciprocating tactic where you have a guest on your show and then ask to be on theirs. Everyone is always looking for new content - all you need to do is be relevant.

#1 Hack For Selling More to Your Ideal Clients

If you want to stay a step ahead of the competition, you have to build a relationship with your clients. They need to know you're the real deal. So, how do you do that?

Let them get to know you. Be genuine. Whether it's smart, funny, charming, blunt, thoughtful, sarcastic... you be you.

It doesn't have to be interviews, or videos, or podcasts — it can be whatever medium you want! Just make sure you're sending it to your prospects and putting it on the platforms where your prospects congregate. My YouTube channel and podcast have built relationships with my subscribers. They feel like they know me even when I've never met most of them.

Think about it this way. When you listen to your favorite business podcast or video, is it because you view them as an authority? Of course! They're the king of the castle because they have the keys to the front door. With media (think webinars, YouTube, podcasts, etc.) you can position yourself however you want. Plus, when clients watch or listen to your content they get a feel for who you are and you've got a better chance of resonating with them.

Are you struggling to keep your agency employees? Tired of spending time training team members who leave too soon? Employee retention is one of the hardest parts of running an agency, and one of the most important parts of growing. Learn how you can keep your employees happy, fulfilled, and ready to grow right along with you.

In this episode, we'll cover:

• Why your agency must dominate employee retention.
• 9 ways your agency can boost its retention rate.
• 4 steps to creating a team development map.

On today's show, I talked with Tommy Chenoweth the Senior Director of Team Development at January Digital — a full-funnel marketing agency. Tommy spends his time focusing on the talent pipeline, which includes retention practices. Tommy's been with January Digital for many years, but as the agency has grown his role has become critical for their future success. As they've gotten bigger and hired more employees, Tommy's onboarding and retention practices has helped them gain serious momentum.

Why Your Agency Must Dominate Employee Retention

Employee turnover is a major pain, right? Onboarding and training are expensive and time-consuming. But, beyond the hassle, employee attrition has some serious agency-wide consequences.

First, when someone leaves your agency it may make pique the curiosity of your other employees. They will wonder why they're leaving... Are they getting paid more? Working on better projects or clients? Getting better benefits? Those are all the questions your employees are asking themselves when others leave.

Second, it's nearly impossible to sustain growth when agency employees are always jumping ship. When the focus is on constantly training new employees, responsibilities get shifted and client relationships suffer.

Finally, and this is the big one, your clients are going to notice. When an employee leaves the team, the client starts to wonder why. Even worse, when a new employee joins the team, no matter how well you onboard and train interally, the client feels like they're starting all over.

9 Ways Your Agency Can Boost Retention

1. Provide a clear path: Let your employees know how they can evolve with your agency. Make sure there's a path of progression for getting promoted and building personal authority within the agency. (More on this below.)
2. Hire the right people: Hire employees that match your core values. You can teach skills but culture and personality either fits or it doesn't. Check out this 10-step hiring process.
3. Fire fast: It's true when they say "hire slow, fire fast." Don't be afraid to get rid of employees who are creating or contributing to a negative atmosphere. One bad apple can spoil the whole bunch!
4. Find purpose: Don't be an accidental agency owner. Make sure your agency has a vision and share it with your team. People want to believe in and contribute toward a common goal.
5. Provide mentoring: Make sure the leadership team is sitting down with employees at least once a month to build give guidance and direction. Pro tip: when you do "reviews" don't call them that! Instead, call them coaching sessions or mentorship meetings. Find a term that emphasizes the positives of the meeting.
6. Develop a flowing culture: Make sure your culture is embedded deep in your agency. If employees are deeply rooted in your company culture, they're more likely to stay longer.
7. Promote based on value: Don't give promotion based on tenure. Instead, consider the value the employee brings to the agency and promote when it's deserved and needed for agency growth.
8. Designate outcomes: Don't assign tasks; assign them outcomes. Your employees are your single greatest resource. Allow them the freedom to express their creativity. You'll win more clients, keep more employees, and see some great results.
9. Allow employees space: Tommy calls this a "bridge concept." Give your employees the ability to prove they're ready for the next level by bridging their current role and the next level. Let them take on some managerial tasks if they want to be a manager. Allowing them this latitude will give you a better idea of their capabilities to handle higher level responsibilities.

5 Steps to Creating an Employee Development Map

Tommy has created a development map to ensure each employee has a clear path for progression.

Here's how you can, too:

1. Find all of the top performers at your agency and figured out what core traits set them apart.
2. Have all of your employees list things they do that are unique to them in their job role. These things add value to the agency but only one individual is doing them.
3. Categorize those skills into 4 core buckets: digital acumen, client service & strategy, management, and contribution to culture.
4. Map out a linear progression of skills required for promotion within the agency. This way your employees know exactly what skills they need in order to advance!

Do you have a qualification process for agency prospects? Do you know when to turn away a bad prospect? How do you know if a client is a good fit for your agency? Turning away clients isn't easy, but turning down a bad prospect may just save you time, energy, and your sanity!

In today's episode, we'll cover:

• When should your agency swipe left on bad prospects?
• 5 big client mistakes to avoid.
• One great example of a bad agency client.

Today, I talked with BJ Enoch, VP of Enterprise Accounts at SocialSEO. BJ knows a thing or two about turning clients down because he's learned the hard way. SocialSEO has 100+ employees and manages a ton of clients. So, BJ is the perfect person to give us all some client rejection insights. He's a 6-year SEO agency veteran with a knack for spotting bad clients. From early mistakes to time travelers, BJ gives us real, practical advice for avoiding bad agency prospects.

When Should Your Agency "Swipe Left"?

So honestly, I had no idea what "swiping left" meant until a few weeks ago (because I'm happily married!) So, for those who don't know, swiping left is when you decide to "reject" an uhhmm... "prospect" on the dating app Tinder. The app gives users different profiles photos and you can swipe left to get rid of the profiles you think are a bad match.

We've all dealt with bad clients a time or two but you know you don't have to! In fact, telling a prospect NO may be one of the best ways to grow your agency. If your agency is newer and you're in need of the cash flow, you're probably going to take every job that comes your way. It gives you tons of experience and allows you the opportunity to make some mistakes. But, if you've been in the industry a while and you know exactly who help, then it's time to start saying "no" to the wrong projects and prospects.

BJ says to ask yourself some questions before you take on a new project. If the answer to any of the questions below is no, run away! Ask yourself:

• Can we deliver this project?
• Can we deliver this project at a high enough quality for the client?
• Is the project reasonable?
• Is the timeline reasonable?
• Do we WANT to deliver the project?
• Can we successfully communicate with the client?

5 Big Client Mistakes to Avoid

1. You can't always be the expert at everything: We're all really good at something. But, we're also all really bad at something. Don't tell the client you can create their website if you only do video production! If you're not equipped to deliver high-quality content, let the client know. Trying to work outside of your expertise is going to cause all kinds of issues. And, you'll probably lose the client because of your inability to deliver as promised.
2. The client isn't the expert: Speaking of being the expert, remember that it's you! If a client tries to set a bunch of parameters during the meeting, be wary. Don't be an order-taker — be an advisor. Make sure to establish this role upfront so your agency is not treated like a commodity.
3. Don't oversell - set accurate expectations: You don't have to constantly let the client know how amazing you are. Seriously. Don't tell them you're going to deliver 25% more than they wanted. Sure, you always want to impress but you should let your service and results speak for themselves.
4. Avoid pricing issues: Your price is X, not Y. "But Jason, the client said they could get the services from my competitor for that price!" Then tell them to work with your competitor! "But Jason, the client said they would pay me once my services start boosting their revenue!" No way José! They'll most likely jump ship to the next more expensive agency and try to cut them down on price.
5. Don't play the short game. Agency growth is all about the long game... lifetime value is key! Focus on client retention, not just on acquisition. This means you should be vetting clients and making sure you're both on-the-same-page before you work with them.

BJ left us with one great example of a bad agency prospect when he decided to "swipe left" on a prospect who wanted a website built for time travel business (?!?).

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Want to fast track your agency's growth trajectory? Are you looking to push your agency to the next level? Start thinking ahead and planning in advance for anticipated growth. Dig into your financials, loop your team in and get there faster when everyone's on board.

In today's episode, we'll cover:

• How to get into the growth mindset.
• How much cash reserves should your agency keep?
• What's a healthy agency profit margin?
• #1 way to make sure your vision is being implemented.

Today, I talked with Ted Kohnen, he is the non-founder president of Retina — a global full-service agency with a deep technical foundation. The agency brought Ted in as their President as part of their growth strategy, which makes him the perfect person to talk growth! He's here to share growth tactics and strategies that you can apply in your agency right now.

How to Get into the Growth Mindset

When you're looking to grow, start by looking at your balance sheet. Most agency owners come from the creative side or the account side, not from the financial perspective. Usually, agency owners hire a CFO and get right back to being creatives. Stop! If you really want growth, you need to understand your financials. Ted says you can get your hands dirty by paying attention to two main factors.

1. The near-term... This is your receivables, expenses, and cash flow. Understanding your near-term financials will help you manage your agency tighter. You know when and where you need to cut back and which business processes you need to find a way to automate or outsource. If you can see the bulk of your expenses, you can really start to dig into what your financial pain points are.

2. The long-term... This is your future expenses such as expansion, opportunity, and headcount. These are things you should be planning out when you're looking closely at those near-term financials. The sooner you start creating a financial strategy, the sooner you can start growing your agency when the time comes.

Pro Tip: Let your CFO know your long-term plans. If they don't know, how can they help you get there? CFO insight and buy-in is key to getting where you want to go.

How Much Cash Reserves Should Your Agency Keep?

Every agency needs to have some cash in the reserves, but how much is often a point of contention. Luckily, Ted's here to save the day. Ted recommends keeping 6 months in the bank. To do this, you need a deep understanding of your pipeline. Just like you need to learn your agency's financials, you need to be hyper-vigilant in learning what your pipeline looks like.

Now, some of you may be saying, "We're fine! We have like 7 months worth of cash flow in media spend!" Stop right there! Don't mix your operating expenses with your float! Make sure you're storing them in different accounts. If you rely on media spend for operating expenses, you're going to get burned.

What's a Healthy Agency Profit Margin?

Ted said (that's fun to say) a healthy profit margin is around 20%. Now, you may remember my podcast with Mark Asquith who quit his agency at a 50% margin! But, that's not typical. Anywhere from 15% to 20% is a healthy margin. If you're over 20%, you may be neglecting research and development (employee education, culture, tech stacks, etc.) If you're under 20%, you need to start crunching those number! Remember, it's your responsibility to understand your financials, don't rely on your CFO.

If you're within 10%, you may be fine. But, if you're operating at a 5 - 10% margin, you need to pivot!

#1 Way to Make Sure Your Vision is Being Implemented

One of the hardest parts of running an agency is trying to make sure your employees are on board with your vision. Ted says he took Sheryl Sandburg's advice from her 2013 book, "Lean In." And that advice is to make sure you take time to walk around and talk to your team (high-level to entry level.) Engaging your team in casual and easy conversation can ease their concerns and lets you know share your vision. This isn't a formal "town hall meeting" nor is it schedule or have an agenda. He says to get to know your people on a personal level; which gets increasingly more challenging as your staff size increases.

Make sure to foster those relationships outside of the office as well. Get your team involved with a charity and let them volunteer during paid work hours, or take everyone to a sporting event. Ted plays bubble soccer with his team! Whatever works for you, your team, and your company culture. Just be sure to engage with your employees and make sure you're all carrying your vision forward. If you notice a particular employee doesn't seem to share your vision, don't put off the inevitable.

Be Purposeful with Your Time

Ted left us all a tip before he hopped off the podcast — look at requests for your time through a sharply focused lens.

Don't just take every meeting that comes your way. If someone wants your time but it's not related to growth, employee culture, or client delivery, don't give it to them! Do you know the 5 roles of an Agency CEO? Spending time getting to know your employees is way more valuable than that meeting about a new CRM that you don't need!

Are You Looking for Outsourced Copywriting for Your Agency or Clients?

Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more.

Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter.

Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.

Do you struggle to find the right employees? Would you like to retain the amazing employees you have? What about the R&D tax credit that got one agency $150K? Employee retention and acquisition doesn't have to be a headache. And, agency expansion concerns don't need to keep you awake at night. With the right culture and the proper hiring methods, you can find those hassle-free employees and keep them around. Plus, when you train and develop their skills, you could be eligible for a major tax credit.

In today's episode, we'll cover:

• The 3 biggest employee onboarding red flags.
• #1 most important employee retention tool.
• Does your agency qualify for a big R&D tax credit?

Today, I talked with Dobbin Buck, who's living the dream at his agency GetUWired. Not only is Dobbin a super passionate agency owner, but he also gets to spend his days working from a cabin-turned-agency nestled at the foothills of Blue Ridge Mountain in Georgia, USA. Dobbin has over 40 team members now, and he shares his experiences with hiring and retaining those employees — as well as how his agency landed a whopping $150,000+ tax credit.

3 Biggest Employee Onboarding Red Flags

Finding, hiring and onboarding employees is tough! I've talked to tons of agency owners who don't want to grow due to concerns of hiring and managing a large team. Increasing your headcount doesn't have to be super stressful if you pay attention to the warning signs and you can filter out those potential trouble employees.

Here are 3 signs that someone may not belong at your agency:

1. They don't jive with your culture: This is huge! Your agency's culture defines the business. If you have a cultural misfit, it may be time to have a talk. Things like this are fairly obvious right away, and it might be an easy fix either with a conversation or by cutting someone loose. It's way easier to change someone's skill-set than it is to change their personality or comfort level

2. They chase the carrot too hard: Having an employee that goes the extra mile is great! Who doesn't want that? But, if you're interviewing someone who seems to only care about the hustle, you might want to reconsider. They're going to get burnt out faster, and they may be too focused on work to really get to know your business and your culture. Remember, employees need some time off work to build critical relationships.

3. They don't think outside-the-box: Dobbin said he includes a problem in his hiring process that isn't solvable without outside research. If the employee comes back and complains that they didn't receive enough material, it's an immediate red flag. Make sure you're hiring people who can take the reigns when they need to. Here's a link to his 10-step hiring process mentioned in the interview.

#1 Most Important Employee Retention Tool

Company culture is everything.

Your culture is the gas in the tank. When you offer an amazing agency culture, your employees will stick with you. In addition to culture, avoid those red flags above and a build a team who shares your vision, which will help keep them around. In today's climate, team members have so many options. There are thousands of agencies hunting for great talent, so it's key to use your culture as a #1 driving motivator. Your company is the one major differentiator you have against other their other options.

Pay is great, but when team members know they are part of a bigger plan and they work with people who share that vision, they're going to stick around.

Does Your Agency Qualify for a Big R&D Tax Credit?

Dobbin talked about how he got a tax credit recently for a whopping $157,619! Now that's a tax credit! The R&D tax credit — officially "the Credit for Increasing Research Activities" — is for experimenting with technology with a qualified purpose. Most agencies qualify, so if you're not trying to capture that R&D tax credit, you're missing out! Dobbin said he hesitated for a long time before finally making the jump and working with a tax firm to apply for it... It looks like it paid off! If you want to know more about the tax credit, I did a podcast with a tax specialist - check it out here.

Are You Looking for Outsourced Copywriting for Your Agency or Clients?

Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more.

Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter.

Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.

Feel like your agency is stuck or reached a plateau? It happens, whether you're just starting out or in business for many years. Don't get frustrated or settle for the status quo. Instead, it might be time to get back to the basics, get scrappy and get creative. With the right strategy, mindset, and persistence you can make some tweaks that help you jump that next hurdle and reach a new level for your agency.

In today's episode, we'll cover:

• How working for free can really pay off.
• How to execute outbound sales.
• #1 most important agency growth tip.
• Why you should re-think your billing.

Today, I talked with Colton Bollinger founder of JumperMedia.co, an Instagram marketing agency. Colton started out in 2016 providing free Instagram marketing services to some buddies and golf instructors. What started out two years ago as a solopreneur-venture has grown now to include two partners and a team of 44 employees!

How Working for Free Can Really Pay Off

Colton got really scrappy in the beginning, which meant bootstrapping his business and executing unconventional ideas. One of those ideas was to work for free and develop case stories.

Sometimes giving away your services for free can actually help you grow. It seems counterintuitive, but that's exactly what Colton did and he says it was a major key to his early growth. He started by offering his Instagram marketing services totally free. Instead of making his clients pay, he asked them for video testimonials. These videos performed better than just a written testimonial and served as organic, value-adding references. He says his "clients" were more than happy to record testimonials to help him grow and succeed since he'd delivered them great results for free.

How to Execute Outbound Sales

Beyond his inbound leads, Colton knew he had to execute on outbound sales too. He started out by cold calling and sending super specific direct messages to prospects. (Kinda like Joey Gilkey suggested with his LinkedIn outbound strategy.) I always recommend a 3-pronged approach to prospecting -- inbound, outbound and strategic partnerships. That way when one channel dries up you can still scale and grow with the other two.

Hyper-specific, highly targeted messages are critical. Don't be generic with a copy/paste message. Be unique, different and personal. Do your homework and point out what they're doing right and where they could use improvement. The more personalized you can make your outreach efforts the more of a payoff you'll see from them.

Related: How to Find and Train an Agency Sales Rockstar

#1 Most Important Agency Growth Tip

Go back to the basics!

Here's the interesting thing about agency owners, we're all pretty similar in skill and knowledge. Most of us are just hustling to grow and scale their business the best way they can. But, if what you're doing is not yielding the results you want then it might just require one minor tweak.

It's like a pro golfer (Colton was one!) or tennis pro (I was one!) who knows all the intricate moves and complex strategies of the game. But sometimes they just need to go back to tweaking their swing and BOOM!

Seriously! Find little areas for improvement or small things that you can do differently. Those micrometer differences may be exactly what you're missing. It's almost never some giant thing that needs fixing -- it's usually a small tweak.

Why You Should Re-Think Your Billing

Cash flow is king... Don't settle for the old "the check's in the mail" excuse! Colton said automating their billing and setting up recurring billing was one of the most important things his agency has done. Think about the way you're billing customers and look at ways you can improve cash flow such as:

• changing payment terms
• accepting credit cards
• charging a month or more in advance

There are so many tools out there, Colton likes Moonclerk and Stripe recurring. Instead of waiting for the check to come in the mail, you can spend that money on client acquisition and grow at accelerated speeds. Reconsidering your billing options may give your agency the growth boost it needs.

Are You Looking for Outsourced Copywriting for Your Agency or Clients?

Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more.

Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter.

Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.