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

In this episode we discuss:

* 4 ways to set yourself up for success as a speaker

* 3 ways to to get booked as a speaker

* Elements of a memorable speech that gets you leads

My guest, Eamonn O’Brien is the founder of The Reluctant Speakers Club, a resource for professionals looking to develop or hone their speaking and presentation skills. He talks with me about starting a speaking career, how to get booked as a speaker and the elements of a great speech.

Why should an agency owner become a speaker?

Whether you’re a natural speaker or more timid in front of an audience, you need to know one thing: being a speaker can only help your business and bring you new business. Your ideal clients are willingly sitting in that audience. They want to hear what you’ve got to say. Just like any of your other content, if you can provide even one nugget of value they will remember you for it.

4 Ways to Set Yourself Up for Success as a Speaker:

Eamonn says everyone’s got something they can say on a stage. In order to stand out you’ve got to be memorable. Here’s four ways you can set yourself up for success as a speaker:

* First, focus on the one topic you know best. Create one speech around it where the content is an inch wide, but a mile deep. Specialize your talk and become known as the expert on that one area.

* Don’t try to be all things to all people. A lot of people are so anxious to get a speaking engagement booked that they’ll throw out dozens of topics in the hopes that something sticks. Be an expert on just one specific topic.

* Put yourself out there via podcast or videos. This way, event organizers can find you, hear or see you and assess your message to determine if you’re the right fit for their event.

* Have a speaker page on your website. However, you don’t necessarily need a speaker reel at first. You should also make it a practice to video record all your speaking engagements. You can use the video as future repurposed content, you can watch it later to  evaluate yourself and you can eventually use snippets of it for your reel.

3 Ways to Get Booked as a Speaker:

* Get involved in organizations within your niche. Event organizers are always looking for speakers and panelists. Be an active member of professional organizations that host events and conferences.

* Develop relationships with people who can get you on the stages and maintain those relationships – not just at conference time, but all the time. Follow-up after the event with a thank you note or simple gift. A gesture like this costs very little but goes a long way.

* The BEST way to get booked for a speaking engagement is with more speaking engagements. Getting that first gig and knocking it out of the park will start the momentum, then you can cultivate the relationships with organizers and sponsors to keep it going.

3 Elements of a Memorable Speech

* A great title.

Eamonn says there was research done back in the ‘90’s proving that a title is 17x more important than what you say or write after it. Today, with the web and social media sharing that may as well be 1000x.

PRO TIP: I like following this formula for writing titles: “How to do [something cool], without doing [something that sucks]”. It catches attention because everyone loves to hear how they can get a positive outcome while avoiding pain.

* An engaging start.

You have less than 30 seconds to hook your audience. It’s your job to use those 30 seconds to make them realize something good is about to happen. If you don’t, you’ll lose them to their smartphone.

PRO TIP: I like to start with a story that shows I can relate to my audie...

In this episode we discuss:

* How to build a CONTENT EMPIRE that converts and retain clients.

* Two tips you need for successful content marketing.

* What you need to do with your content right now.

How you can begin monetizing your agency content by following this simple, proven strategy.

My guest on this episode is Joe Pulizzi. He’s has spent his entire career in the content world… He got his start in publishing in 2000 where he spent 7 years, until founding and growing Content Marketing Institute in 2007. Since establishing CMI he’s been educating marketers on the use of content to build an audience that knows, likes and trusts their brand and how to turn that audience into customers.

Here’s the one thing you need to make sure you’re doing with your content marketing.

Take a look at your content and determine how it’s different than everyone else’s. Ask yourself:

* What is different about my story?

* How am I causing a disruption against the other content that is out there?

Joe calls this differentiation your content tilt (more on that in a minute).

In his book, Content Inc., Joe interviewed several different entrepreneurs and startup founders to uncover their process for building a successful content marketing strategy. What he discovered was a pattern in each business’ success story. He realized every successful content marketing strategy followed the same 6 step process. Joe breaks down that process so other marketers can learn from it and replicate.

The 6 step process for building your Content Empire:

The key is to initially set aside your products/services and make your content useful, reliable and dependable to build an audience. Then, after establishing trust and authority, you can cash in on your content investment.

Step 1 – Find the Sweet Spot

The sweet spot is the point where your knowledge and skill set intersect with your passion. For me, that’s my knowledge and skill set in owning a digital agency coupled with my passion for helping other agency owners reach their goals.

Step 2 – Determine your Content Tilt

Your content tilt is what separates you from everyone else in your market area. It’s your unique perspective on your content niche. Without content tilt you risk blending into the rest of the noise and being forgotten.

Step 3 – Build the Base

It takes time to build your base audience. And it requires a commitment to a specific content type via one main platform at a consistent day/time for a long term period of time. Own one type of media, delivered on one channel at a specific and predictable time. Joe says there is no perfect time or frequency – the best interval is just a consistent one, whether that’s daily, weekly, or whatever your resources allow.

Step 4 – Harvest the Audience

Don’t sew the seeds without harvesting the fruits of your labor! Building the base audience is great, but Joe tells us that most visitors will only come to your site once. need to capture their subscriber information to keep reaching them. Include a call to action in everything you do and seize every opportunity to have them opt-in to your content.

Step 5 – Diversification

The diversification step comes in when you’ve mastered one type of media on one platform. Joe says the best way to measure this is by having a predetermined goal for the number of subscribers you want (back in step 3). When you reach that goal, set a new goal and begin a new form of reaching another type of audience by diversifying your content vehicle and platform. He says you should become a media octopus by wrapping many arms around your audience in many different ways.

Step 6 – Monetization

Are you reaping the benefits of monetizing agency content? If not, in my 6 step guide, I will show you how and elevate your business through monetizing agency content moving forward.

In this episode we discuss:

• How to build a CONTENT EMPIRE that converts and retain clients.
• Two tips you need for successful content marketing.
• What you need to do with your content right now.

How you can begin monetizing your agency content by following this simple, proven strategy.

My guest on this episode is Joe Pulizzi. He has spent his entire career in the content world… He got his start in publishing in 2000 where he spent 7 years, until founding and growing Content Marketing Institute in 2007. Since establishing CMI he's been educating marketers on the use of content to build an audience that knows, likes and trusts their brand and how to turn that audience into customers.

Here's the one thing you need to make sure you're doing with your content marketing.

Take a look at your content and determine how it's different than everyone else's. Ask yourself:

• What is different about my story?
• How am I causing a disruption against the other content that is out there?

Joe calls this differentiation your content tilt (more on that in a minute).

In his book, Content Inc., Joe interviewed several different entrepreneurs and startup founders to uncover their process for building a successful content marketing strategy. What he discovered was a pattern in each business' success story. He realized every successful content marketing strategy followed the same 6 step process. Joe breaks down that process so other marketers can learn from it and replicate it.

Monetizing Agency Content: My 6 Step Guide The 6 step process for building your Content Empire:

The key is to initially set aside your products/services and make your content useful, reliable and dependable to build an audience. Then, after establishing trust and authority, you can cash in on your content investment through monetizing agency content moving forward.

Step 1 - Find the Sweet Spot

The sweet spot is the point where your knowledge and skill set intersect with your passion. For me, that's my knowledge and skill set in owning a digital agency coupled with my passion for helping other agency owners reach their goals.

Step 2 - Determine your Content Tilt

Your content tilt is what separates you from everyone else in your market area. It's your unique perspective on your content niche. Without content tilt you risk blending into the rest of the noise and being forgotten.

Step 3 - Build the Base

It takes time to build your base audience. And it requires a commitment to a specific content type via one main platform at a consistent day/time for a long term period of time. Own one type of media, delivered on one channel at a specific and predictable time. Joe says there is no perfect time or frequency - the best interval is just a consistent one, whether that's daily, weekly, or whatever your resources allow.

Step 4 - Harvest the Audience

Don't sew the seeds without harvesting the fruits of your labor! Building the base audience is great, but Joe tells us that most visitors will only come to your site once. need to capture their subscriber information to keep reaching them. Include a call to action in everything you do and seize every opportunity to have them opt-in to your content.

Step 5 - Diversification

The diversification step comes in when you've mastered one type of media on one platform. Joe says the best way to measure this is by having a predetermined goal for the number of subscribers you want (back in step 3). When you reach that goal, set a new goal and begin a new form of reaching another type of audience by diversifying your content vehicle and platform. He says you should become a media octopus by wrapping many arms around your audience in many different ways.

Step 6 - Monetization

Up until this point, the objective of your content marketing has been to generate interest and be sought out for knowledge and expertise. In the monetization step, you're trying to achieve 1 of 2 objectives: convert leads into new opportunities or retain existing customers by upselling or cross-selling. To achieve this you must identify how a subscriber behaves differently than an audience member.

Here are Joe's 2 best tips to being successful with content marketing:

The real goal is to produce the minimal amount of content with the maximum amount of impact.

1. Focus on owning one type of media and one platform. Whether it's text, audio or visual - pick just one and be really great at it. Also, select one platform for distributing your content (iTunes, blog, YouTube, etc.) and own it. Consider yourself like a media company building a loyal audience over time. It's not easy and requires patience but it's the key to success in your content marketing efforts.
2. Be consistent so your audience knows how, where and when to find your new content. By having a predictable schedule you are setting up an appointment with your audience. Whether it's once a week or every single day, consistent delivery will build trust and get you looked at by your audience as a resource.

Become a Better Owner

Monetizing agency content can help elevate not only your business but improve you as an agency owner. This doesn't mean that this is the end of your struggles but I can help you get through all of it.

From my own experiences, I can give you advice on recognizing new client opportunities to different ways of building authority to improve your agency. If you are having issues with growing your agency, I can show you how performance-based pricing can be the best pricing strategy for your business as well as the three questions you need to ask yourself to sell more!

Learn all about my career and different experiences as well as lots of tips, tricks and insights by checking out my blogs that cover a wide variety of topics.

Make sure to check out my Ask Swenk series and more of my videos on my YouTube channel. There you will find advice from myself and other agency experts.

We have compiled a FREE AGENCY RESOURCE on the FUTURE OUTLOOK of DIGITAL AGENCIES in 2016 and would want to share these great insights with you.

This is data that we compiled from over 10,000 agencies, and we are going to share with you so you can navigate this new landscape and plan your new year with clarity and direction.

Here’s what you are going to discover:

* Why Brands Pick Agencies and What Brands Expect from Them

* How to Increase Opportunities for Agency Growth

* How to Increase Agency Margins and Better Scoping

* How to Increase Client Retention for Agencies

* If Agencies Should Develop a New Product and Why

* What Technologies Agencies Are Using Heading into 2016

* What is an Agency’s Lifetime Value of a Client and Why It’s Important

What is the Digital Agency Outlook?

Our team at JasonSwenk.com serves and supports over 10,000 agencies in 23 countries. While we are very connected to our clients globally, you might be feeling very alone in your endeavors. I know from personal experience that running an agency can be very isolating. This report is your peep hole into what other agencies are thinking, feeling and doing… What 2015 looked like for them and where they’re headed in 2016.

We asked the entire JasonSwenk.com tribe to share their experiences in 2015, from growth strategies and challenges to technologies, systems and more. We’ve analyzed the data from our study and married it with other anecdotal information we’re hearing in our coaching sessions to bring you a comprehensive collection of information that will help you enter 2016 with clarity.

For those of you who participated in our study, thank you for sharing your experience and wisdom. If you weren’t asked to participate this time, but have something to share please comment below. We read and respond to every comment and inquiry.

Why Do Brands Pick Agencies?

Our survey told us…

Over 51% of agencies surveyed think they’re clients value them for their marketing and creativity. While this is somewhat true, it’s not what brands are saying. On the client side, they’re saying they want agencies to bring emerging trends to the table, as well as interpret the analytics so they can make better decisions. (85% of brands indicated this need!) They’ve got a million agencies knocking on their door with campaign ideas. But, if you want to grab their attention give them some insight into a new trend that will move their business.

What does this mean?

Simply put, there’s a miscommunication and disconnect. Where you believe your value lies, is inaccurate. And without an adjustment in focus, 2016 will not bring your full growth potential. Clients already know you can provide the creative and marketing plans they desire. What they really rely on you for is your intuition, your understanding of emerging trends and your interpretation of the analytics.

In our survey only 28% of agencies thought clients valued them for emerging trends, and only 4% thought clients valued analytics. You think your clients want one thing but they actually want something all together different. Brands want new business building ideas they can test, measure, and adjust.

In 2016 we need to…

Meet the expectations of brands that are seeking your expertise. In short, give ‘em what they want.

* Provide great project work? Check.

* Develop brilliant, fresh creative? Check.

* Devise smart marketing plans? Check.

* Bring emerging business development trends to the spotlight? Ummm…..

* Interpret the analytics of what is and is not working? Ummm…..

How can we accomplish this?

* Be proactive. Most agencies are reactive. They’re helping undo what’s been done. Think of your clients’ clients and anticipate their next move.

In this episode we discuss:

How to protect your business, financially and legally.

Ways to lower your taxes:)

The IRS’s big secret on audits. This is HUGE!

Super-fun CPA and friend to U.S. agencies, Jason Blumer of Blumer CPA’s chatted with me about several tax-saving tips along with a few words of caution, and one big IRS secret on this episode of The Smart Agency Master Class.

Blumer founded and runs a virtual CPA firm with a team of 8 around the country who are specifically geared toward accounting for design, web and marketing agencies. (See? He’s niching his firm and you should be, too. But that’s another topic for another day :)) Keep in mind the advice here is just general. Your specific situation and questions about your agency should be discussed in detail with your own CPA.

What type of business classification is best for your agency?

Best advice: protect yourself and be something other than simply “self-employed.”

A sole proprietor should set up a limited liability corporation (LLC). This designation provides legal protection and operational flexibility, however there are no tax benefits. An LLC pays twice the self-employment tax since regular employees have the benefit of the self-employment tax being matched by their employer.

An S Corp can save you a lot in terms of tax dollars, however the hoops to jump can be pain. You must have a system for payroll and deductions, including paying yourself a salary. That means paying payroll taxes, too. Therefore, what you save in taxes can be swallowed up quickly by paying out professional fees to a payroll service.

Keep in mind, an LLC can transition into an S Corp as they grow. Blumer says he advises his clients netting $80-90k+ to go the S Corp route.

What’s the best way to lower my taxes?

This is always a hard one. If you make money, you’re going to pay taxes.

The best way to lower taxes is to spend money reinvesting in your business which ultimately lowers your net profit, meaning less taxable income. Retail or manufacturing businesses have it a little easier. They can buy equipment to invest back into their business. Service-based businesses are a little difficult to advise in this area. And agencies? We’re the worst. All we sell are our ideas.

Blumer says your best bet is investing cash in a retirement plan for yourself. Depending on the type of plan you set up you’ll benefit your taxes and your team. Other ways to save include training/educating your team.

Small businesses like to lower their tax burden with these 2 tactics:

You might think you are saving a ton on taxes if you’re doing one or both these things. That’s only true if you’re doing them right. Here’s the real deal…

1.Being a virtual agency

Technically, if you have a team that’s spread out around the country you should be paying taxes in every state where you’ve got people. There are states with no state tax such as Florida, Texas, Washington. There are also states that make it a major pain in the ass to be self-employed, like California, New York, Pennsylvania. Tax laws vary by state, so be sure to check things out for the state(s) your in.

And, if you’re not sure if you’ve got all your bases covered, talk to your account about it. Blumer CPA’s offers an Exposure Tax Analysis. This is a discovery of your tax liability to see if you’re compliant and in what areas you might be exposed. If your tax firm doesn’t offer something similar, I know a guy…

The Future Agency Outlook

We have compiled a FREE AGENCY RESOURCE on the FUTURE AGENCY OUTLOOK of DIGITAL AGENCIES in 2016 and would like to share these great insights with you.

This is data that we compiled from over 10,000 agencies, and we are going to share with you so you can navigate this new landscape and plan your new year with clarity and direction.

Here's what you are going to discover:

1. Why Brands Pick Agencies and What Brands Expect from Them
2. How to Increase Opportunities for Agency Growth
3. How to Increase Agency Margins and Better Scoping
4. How to Increase Client Retention for Agencies
5. If Agencies Should Develop a New Product and Why
6. What Technologies Agencies Are Using Heading into 2016
7. What is an Agency's Lifetime Value of a Client and Why It's Important

Want some tax-saving tips for your agency that will help you save money and avoid an audit being carried out on your digital agency?

In this episode, we discuss:

• How to protect your business, financially and legally.
• Ways to lower your taxes and other tax-saving tips.
• The IRS's big secret on audits. This is HUGE!

Super-fun CPA and friend to U.S. agencies, Jason Blumer of Blumer CPA's chatted with me about several tax-saving tips along with a few words of caution, and one big IRS secret on this episode of The Smart Agency Master Class.

Blumer founded and runs a virtual CPA firm with a team of 8 around the country who are specifically geared toward accounting for design, web and marketing agencies. (See? He's niching his firm and you should be, too. But that's another topic for another day :)) Keep in mind the advice here is just general. Your specific situation and questions about your agency should be discussed in detail with your own CPA.

What type of business classification is best for your agency?

Best advice: protect yourself and be something other than simply "self-employed."

A sole proprietor should set up a limited liability corporation (LLC). This designation provides legal protection and operational flexibility, however there are no tax benefits. An LLC pays twice the self-employment tax since regular employees have the benefit of the self-employment tax being matched by their employer.

An S Corp can save you a lot in terms of tax dollars, however, the hoops to jump can be pain. You must have a system for payroll and deductions, including paying yourself a salary. That means paying payroll taxes, too. Therefore, what you save in taxes can be swallowed up quickly by paying out professional fees to a payroll service.

Keep in mind, that an LLC can transition into an S Corp as they grow. Blumer says he advises his clients netting $80-90k+ to go the S Corp route.

Tax Saving Tips: What's the best way to lower my taxes?

This is always a hard one. If you make money, you're going to pay taxes.

The best tax-saving tip and way to lower taxes is to spend money reinvesting in your business which ultimately lowers your net profit, meaning less taxable income. Retail or manufacturing businesses have it a little easier. They can buy equipment to invest back into their business. Service-based businesses are a little difficult to advise in this area. And agencies? We're the worst. All we sell are our ideas.

Blumer says your best bet is investing cash in a retirement plan for yourself. Depending on the type of plan you set up you'll benefit your taxes and your team. Other ways to save include training/educating your team.

Small businesses like to lower their tax burden with these 2 tactics:

You might think you are saving a ton on taxes if you're doing one or both of these things. That's only true if you're doing them right. Here's the real deal on the best tax-saving options...

1.Being a virtual agency

Technically, if you have a team that's spread out around the country you should be paying taxes in every state where you've got people. There are states with no state tax such as Florida, Texas, and Washington. There are also states that make it a major pain in the ass to be self-employed, like California, New York, and Pennsylvania. Tax laws vary by state, so be sure to check things out for the state(s) your in.

And, if you're not sure if you've got all your bases covered, talk to your account about it. Blumer CPA's offers an Exposure Tax Analysis. This is a discovery of your tax liability to see if you're compliant and in what areas you might be exposed. If your tax firm doesn't offer something similar, I know a guy… :)

2. Having all (or mostly all) freelancers

If you're doing it correctly this is a good way to avoid paying employer taxes. But your freelancers have to actually play the part of a freelancer. The term "freelancer" or "contractor," in regard to taxes, is determined by the IRS. To be legit, your freelancers must be able to answer "yes" to all of these questions:

• Is there actually a contract in place?
• Do they invoice you for their time?
• Are they using their own equipment (computer, phone)?
• Are they available to work for others?

This tax saving tip is simple. If they don't look like a contractor on paper, you need to have payroll systems in place and pay taxes on them.

Want to know the IRS's biggest secret on audits?

They don't really want us to know, but the IRS is in real trouble. They don't have the ability to enforce things like they once did.... A possible impeachment of the Commissioner coupled with losing budget dollars means they don't have the leverage to effectively audit. It's somewhat of a vicious cycle -- they're losing tax dollars because they can't run audits, and they can't run audits because they can afford to.

So, that's kinda good for us. But, they DO still audit and audit selections are done totally at random.

The good news: less than ⅓ of 1% of businesses get audited. In fact, with 20 years in the business, Blumer's only seen 2 or 3 audits ever. Don't get too comfortable with those statistics, though. The IRS is still looking for ways to penalize and fine you. Make sure you're compliant so you can avoid one of their nasty-grams.

What to do if you are contacted by the IRS

If you get something from the IRS, let your CPA or tax attorney handle it. There are things you should and shouldn't say. There are also things you should and shouldn't give them. Don't be so scared that you hand everything over - that just opens a bigger can of worms. If you receive a notice, always question it. If it comes with a penalty, don't pay it right away. These notices are computer-generated and often wrong. Some are even waivable. Your accountant knows how to handle each situation while saving you time and potentially, some money.

Looking for a Great Group of Like-Minded Agency Owners?

My Agency Mastermind group has been wildly successful for lots of motivated agency owners looking to grow and scale their businesses. If you'd like to share thoughts, ideas, problems and solutions with people in your shows, check out my upcoming group. We meet every two weeks, so it's not a huge time commitment but the benefits are immeasurable. You can read more details here and if you're interested there is a brief application process. You'll fill out a quick form and then I'll let you know if the group is a good fit for you.

Build Your Agency Authority

I hope this episode with Jason has provided some fantastic tax-saving tips for you and agency audits are no longer a concern. Creating the best agency possible means being able to recognize other challenges you are facing within your agency. Why not take the time to take a step back and look at other processes that need attention? No matter what challenges your agency is facing, I can help you get through all of it.

There are many topics I can give advice on from what to do when you want to speed up sales processes to how you can build authority for your agency.

Growing your agency can be a major struggle for any agency owner and I can show you the different phases of growth you will experience, how placing a process for performance-based pricing can be the best pricing strategy for your business and the three questions you need to ask yourself to sell more!

Want more? Learn about my career and different experiences as well as tips, tricks, and insights by checking out my blogs that cover a wide variety of topics.

Check out more from my Ask Swenk series and more of my videos on my YouTube channel. There you will find advice from me and other agency experts.

In this episode we discuss:

5 levels you’ll reach when scaling your agency

How to know what level your agency is at and where it’s going next

3 ways to avoid growth and scaling pitfalls

As a business growth expert, Paul Higgins knows a thing or two about entrepreneurship and scaling businesses. After all, he spent nearly two decades on the client side, climbing up the executive ladder with Coca-Cola before founding an agency that serves as a partnership resource to small businesses. He’s also a Director and Empire Builder at Bollo Empire, which helps agencies scale. In this interview we talk about best practices for rapidly scaling your agency.

There are 5 steps to climb on the stairway to success. Which step are you on? Which step is next? How are you going to climb from one step to the next?

Here are the 5 Levels of Scaling Your Agency

*

Startup

This is like the honeymoon phase of agency ownership. You’re in love with everything about being in business for yourself. You are fired up and ready to make your mark on the industry.

*

Rapid Growth

In this stage, things are really heating up. You’ve got lots of client and are adding team members. Your agency is really taking off! You’re hustling hard and you’re satisfied with your growth.

*

The Grind

This is just what is sounds like. You feel stuck working in your business instead of on it. You’re bogged down by administrative duties, putting out fires and handling client issues. It’s easy to feel like you’re being buried by The Grind.

*

Freedom

This is where you’re acting as more of a stakeholder than an agency employee. You’re working on business development and strategies for future direction. The day-to-day business can run without you… as it should!

*

Cashout

This phase is your exit strategy. It’s your ability to walk away with cash to retire or start something new. The timing is up to you. (You can plan it out, or it could sneak up on you like it did for me after I ran my agency for 12 years.)

Status quo will not help you grow.

As an entrepreneur, it’s easy to get bogged down by running the business and never take the time to what’s required to grow your business. Your inbox is too full, existing clients need you, your team needs you… There’s a million reasons but the biggest one is probably that you just don’t have enough time. However, if you’re too busy that’s an indication that you are either: not charging enough, or you need to hire someone so you can re-focus your attention. (Or, maybe the problem is BOTH?!)

3 Ways to Avoid the Pitfalls that Prevent You From Scaling

Don’t get stuck in The Grind or worse…. slip backwards from Freedom into The Grind! Escape being stuck in a rut by making these 3 things a priority:

Stay on top of industry changes, trends and innovation. Your clients expect you to be on top of emerging trends – so walk the walk. Don’t be afraid of change, embrace it![divider style=”solid” color=”#eeeeee” width=”1px”]

Spend time with agency leadership peers or a coach. These people see things from an objective point of view and have relevant experience that you can learn from.[divider style=”solid” color=”#eeeeee” width=”1px”]

Use platforms and technology that are efficient for running and scaling your business. Make sure that the systems you’re using are current and most effective.

Remember to always work on your business, even in the early stages when you are working in it, too. These 3 strategies will keep you relevant in the industry and help you climb the agency-scaling staircase to the...

What is the Secret to Rapid Agency Scaling?

If a goal for your business is to achieve rapid agency scaling, in this episode I talk with Paul Higgins and discuss what you can do to achieve rapid agency scaling as well as what not to do to make sure you don't fall into any agency scaling pitfalls.

In this episode we discuss:

• 5 levels you'll reach when scaling your agency
• How to know what level your agency is at and where it's going next
• 3 ways to avoid growth and scaling pitfalls

As a business growth expert, Paul Higgins knows a thing or two about entrepreneurship and scaling businesses. After all, he spent nearly two decades on the client side, climbing up the executive ladder with Coca-Cola before founding an agency that serves as a partnership resource to small businesses. He's also a Director and Empire Builder at Bollo Empire, which helps agencies scale. In this interview we talk about best practices for rapidly scaling your agency.

There are 5 steps to climb on the stairway to success. Which step are you on? Which step is next? How are you going to climb from one step to the next?

Here are the 5 Levels of Scaling Your Agency

1. Startup

This is like the honeymoon phase of agency ownership. You're in love with everything about being in business for yourself. You are fired up and ready to make your mark on the industry.

1. Rapid Growth

In this stage, things are really heating up. You've got lots of client and are adding team members. Your agency is really taking off! You're hustling hard and you're satisfied with your growth.

1. The Grind

This is just what is sounds like. You feel stuck working in your business instead of on it. You're bogged down by administrative duties, putting out fires and handling client issues. It's easy to feel like you're being buried by The Grind.

1. Freedom

This is where you're acting as more of a stakeholder than an agency employee. You're working on business development and strategies for future direction. The day-to-day business can run without you… as it should!

1. Cashout

This phase is your exit strategy. It's your ability to walk away with cash to retire or start something new. The timing is up to you. (You can plan it out, or it could sneak up on you like it did for me after I ran my agency for 12 years.)

Status quo will not help you grow.

As an entrepreneur, it's easy to get bogged down by running the business and never take the time to do what's required to grow your business. Your inbox is too full, existing clients need you, your team needs you… There are a million reasons but the biggest one is probably that you just don't have enough time. However, if you're too busy that's an indication that you are either: not charging enough, or you need to hire someone so you can re-focus your attention. (Or, maybe the problem is BOTH?!)

3 Ways to Avoid the Pitfalls that Prevent You From Scaling

Don't get stuck in The Grind or worse.... slip backward from Freedom into The Grind! Escape being stuck in a rut by making these 3 things a priority:

1. Stay on top of industry changes, trends, and innovation. Your clients expect you to be on top of emerging trends - so walk the walk. Don't be afraid of change, embrace it![
2. Spend time with agency leadership peers or a coach. These people see things from an objective point of view and have relevant experience that you can learn from
3. Use platforms and technology that are efficient for running and scaling your business. Make sure that the systems you're using are current and most effective.

Remember to always work on your business, even in the early stages when you are working in it, too. These 3 strategies will keep you relevant in the industry and help you climb the agency-scaling staircase to the Freedom you deserve.

Tip from the Agency Trenches What's the best advice for rapid agency growth?

Paul has a two-part answer for rapid growth: People and Platform. He says it's super important to keep your people happy and use the right systems. That means making sure your team is not overloaded all the time and maintaining a pleasant culture/ environment. As for systems, Paul uses and recommends Podio, a CRM software that evolves with the needs of your business as it grows and changes. He says that it scales as you scale, so you aren't paying for lots of software bells and whistles that you aren't using, but they're available to add on when you're ready to use them.

Are you ready to work with peers to help you with your rapid agency scaling?

I have led a lot of successful Agency Mastermind groups over the past couple of years. There are a few more spots to fill in the upcoming group. We meet every two weeks so it's not a huge time commitment yet the benefits are immeasurable. You can read more details here and if you're interested there is a brief application process. You'll fill out a quick form and then I'll let you know if the group is a good fit for you.

Building Your Digital Agency

There is no rule fits all to rapid agency scaling but the best thing you can do is find the strategies that fit your business model and see how they can work for you. Scaling your agency can also create more problems if your business isn't solid from the ground up. Don't worry as I am here to help.

I have more than likely experienced all if not most of the different struggles an agency owner experiences through my own experience and I can help you from what I learned. I have covered many topics from what to do with your sales processes to improve them, how you can increase your agency's profit margins or how you can build authority for your agency.

I have the best ways for your business to stop losing money on projects, how performance-based pricing models can be the best strategy for your agency, and why including remote teams or freelancers in your team can be beneficial in the long run.

Learn more about my career as well as tips, tricks, and insights by checking out my blogs that cover a wide variety of topics.

Find more from me like advice from other successful agency experts in my Ask Swenk series and more of my videos on my YouTube channel.

Why Buying or Selling An Agency is EASIER Than You Think.

In this episode we cover:

Why buying an agency isn’t as expensive or as hard as you’d think.

How rolling-in another agency can be killer agency growth strategy.

5 ways to improve your digital agency’s valuation to be acquired.

What to look at if you’re looking to acquire another agency.

Today’s guest, Eric Keiles was doing inbound before inbound was even a thing. Eric and his partner founded Square 2 Marketing in 2003 with the intention of helping brands revamp their old-school marketing to the way people are buying in the new millennium. In 2009, they partnered with Hubspot and took their business to a new level.

I met Eric at Hubspot’s 2015 Inbound Conference and quickly learned he is pretty serious about making a plan and sticking to it. He has one major B.H.A.G. (big, hairy, audacious goal) and that is for Square 2 to be the #1 inbound agency. They’ve been growing organically for a few years at 30%+ but that just wasn’t aggressive enough… so they accelerated it with a layer of acquisitions. Actually, 3 acquisitions in just 18 months with 2 more in the pipeline.

Why would you BUY another agency… or several?

Eric says there are two reasons this is Square 2’s growth strategy. They’re looking to either acquire an agency with a specialization they don’t have (like social media or an agency that works on a different platform) or to acquire another inbound agency in order to benefit from economies of scale. Size doesn’t matter – 4 people or 20 – stability and profitability are key.

It doesn’t take a huge pile of cash to acquire another agency.

Eric says it really doesn’t. There is, of course, an initial layout of cash on the front end of the deal but his team feels pretty strongly about keeping the existing leadership in place and structuring an attainable earn out for them. They’ve found this situation to be a win-win. Square 2 sees the growth and profitability they’re seeking while the agency leader of the acquired firm eliminates the stresses of ownership and gets to focus on an area of the business they’re passionate about while hitting earn out goals.

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Use these to improve your agency valuation and as a guideline for vetting one you’re looking to acquire.

1. Systems & Processes that Prevent Bottlenecking

A great target for a potential merger is an agency that has great systems and processes in place. Everything cannot revolve around the owner. Eric says it’s a major deal breaker if you’re the only “go to” person. It’s important to have established systems and processes in place so the business can run without you. I say, “systems outperform talent every time.”

2. Long Term Client Relationships

When someone is looking at buying you, they are looking at what kind of profit they can generate in the near future. As Eric and his team are looking at agencies to acquire, they’re looking at ones that have retainer clients or long-term (12-18 month) project clients. Shorter-term projects or one-and-done clients don’t make a viable agency. A mix of both is OK too, but they find that agencies that are 100% project based are not viable. A buyer a well established business with predictable revenue.

3. Common Personalities and Culture

It’s more than just buying a business, it’s marrying two entities: meshing teams, workflow, ideas… so it’s important the owners have the same core beliefs and the culture of the offices will gel. There’s success where there’s synergy. The guys at Square 2 Marketing look for like-minded...