Swenk Today: The Digital Marketing Agency Show

Are you too busy with agency work? Do you have too much going and not enough time to get it all done. That's a tell-tale sign that you're actually holding your agency back from healthy growth.

In today's #AskSwenk video, I have Tiffany on the phone live. Her questions revolve around being too busy and having more work than she knows what to do with... My advice to Tiffany is two-fold:

1. Raise your prices. Literally, double or triple your prices depending on where you're pricing currently sits. Would you clients still get value if you raised your rates 2X or 3X? Also, what is the market's expectation for the service you offer? If you're too busy, you're not charging enough!

2. Hire a PM. You're probably trying to juggle the project management yourself because you don't have the funds to hire someone. Guess what? If you raise your prices, you will have enough to cover a PM's salary! :) This is a 2 prong approach -- raise prices on new clients coming in and then come up with a strategy for increasing prices on existing clients, with the understanding that you will lose some of them. (And that's OK because you want to work with fewer, higher paying clients.)

When you do these 2 things, you can focus on the 5 roles of a CEO and stop being the agency owner who does everything herself.

The actual roles of the Agency CEO are:
1. understand the financials
2. be the face of the company
3. mentor your team
4. communicate the vision
5. assisting sales

That's it! So, raise your prices and hire a PM so you can ficus on working ON the business rather than being stuck IN the business.

So what you going to do so you are less busy and making for money? Comment below!

=======================================================
SUBSCRIBE NOW to follow my entrepreneurial journey. https://www.youtube.com/playlist?list=PLDvZHFVeqEMq58q6tMoyMK-ufpp0ysoVP
=======================================================
Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello. 

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.

Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.
Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and

SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion dollar business, where he share the latest strategies, and answers the most burning questions entrepreneurs have. 

DONATE to help us continue to provide you amazing content. https://jasonswenk.com/donate/

SCHEDULE

MON-THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me here:
Website: http://jasonswenk.com 
Podcast: http://smartagencymasterclass.com 
Facebook: http://www.facebook.com/jasonswenk   
Twitter: https://twitter.com/jswenk  
Instagram: https://www.instagram.com/jswenk  
Linkedin: https://www.linkedin.com/in/jasonswenk  
Medium: https://medium.com/@jswenk/ 
Soundcloud: https://soundcloud.com/jasonswenk

Music by epidemicsound.com

What is your digital agency worth? Or, how can you improve its value? I think it really comes down to three things:

1. Get the attention of the audience you're serving.
When I was in a position to sell my agency it was because we had the big brands and other agencies were looking at acquiring us in order to grow their market share. The agency was actually worth more then because we had desirable clients.

I'm not saying you need the marquee clients, but what I do suggest is having their attention. Get your agency on their radar and get noticed for something you do better than any other agency out there!

2. Work with mentors to help you build a business worth buying.
You need to have a mentor or a sounding board that has been there and done it. That way you can look at what they've done as your foundation to build upon.

Now, this is not a plug to work with me. Not at all! Just find someone who's content resonates with you. If you like their content and if their business advice makes sense to you, then chances are good that you'll really benefit from working with them.

3. Set up the right systems.
Don't do everything yourself. Increase the valuation of your agency when you have amazing systems that someone else can take over. No one is going to risk buying your agency if you're the one doing everything. The only want to buy into an opportunity that can run itself without its owner.

Your agency should not be depending on you for its entire existence. Leave day-to-day ops to your team. As an agency owner you have these 5 important roles:
-- communicate the vision to the team
-- coach/mentor your leadership team so they can do the same
-- understand the financials at all times
-- assist with sales (just for key accounts!)
-- be the face of the company

TIP: one of the things I wish I had done differently when I was running my agency was being the face of the company. I wish I had known the great value in connecting with people and building relationships.

It's always about multiples... the biggest factor I see with my agency and lots of others is PROFIT. A lot of agencies focus on their gross revenue, but what matters most is net profit. Think: EBITDA -- Earnings before interest, taxes, depreciation, & amortization... that will get a 5x - 10x multiple on your profit.

At the end of the day, your agency is worth whatever someone is willing to pay for it and what you're willing to take for it. There's no magic formula but like anything else, it comes down to fair market value.

If you want to know what your agency is worth right now, figure out 5-7X on your agency's true profit. Then, if you're not happy with that figure go out and do what needs to be done in order to get to the number you would be happy to get.

Bottom line, you need to keep investing in yourself and your agency. Think about building a business worth selling, even if you're not ready to sell yet.

Related:
https://jasonswenk.com/sell-digital-agency/
https://jasonswenk.com/agency-valuation/

What can you do to improve your agency's valuation? Comment below and tell me your challenges and struggles. We may even feature your question in a future episode!
=======================================================

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER. http://jasonswenk.com

In 1999 he launched a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi, and Lotus Cars. After 12 years of amazing growth, his agency was acquired in 2012.

Now, Jason leads JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow, scale, and enjoy running their agency by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 20,000 agencies in 42 countries meet or exceed their business goals.

Jason generously shares it all as a frequent guest on popular radio and podcast shows. He has been featured as an expert in top media publications such as Entrepreneur and Inc. Magazine. Plus, he currently hosts two of the best agency podcasts:

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and
The #AskSwenk Show, a video show that answers agency questions about successful, multi-million dollar agency.

SCHEDULE

TUES & THUR VLOG #SwenkToday
Q&A from my digital agency audience

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me:
http://www.facebook.com/jasonswenk
https://twitter.com/jswenk
https://www.instagram.com/jswenk
https://www.linkedin.com/in/jasonswenk
https://medium.com/@jswenk
https://soundcloud.com/jasonswenk

Music by epidemicsound.com

Do you want to know how you can generate so many leads that there's actually a wait list to work with your agency? Imagine if you had so many leads for your agency that there was actually a waiting list to work with you.

I read recently that Tony Robbins has a 7-year waiting list for clients to pay $1 Million to meet with him 3 times per year. He's created such a demand for his service that he can command that high of a fee and people are willing to wait 7 YEARS work with him. It's definitely a goal for me with my business now... but we've got a lot of work to do. There's demand there, but not a 7 year wait list... YET :)

Here's what you need to do to start getting your marketing agency to the point of having a waiting list:

1- Clarity - get really clear on who your audience is. Be very specific. A niche is a really smart way to get this clarity.
2- Positioning - create a demand for the results your agency delivers. Don't sell services, sell results.
3- Offering - create a unique selling proposition or a unique offering that makes your ideal clients want to work with you.

In order to have a waiting list, you have to be the best. You will not have a waiting list if you deliver mediocre results. People have to know that you dominate in your field and they will get massive results from working with you.

Case stories can be a very powerful tool to share results with potential prospects. When you're seeking case story material, get your clients to talk about:

- where were they before?
- where are they now?
- what is life like now that you've achieved results?
- what steps were required to get you there?
- who else would benefit from working with us?

A lot of agencies think you need to be a full-service agency in order to meet everyone's needs and demands. That's actually not the case... you just need to be really awesome at one thing. If you can dominate one area and get known for it, that's all you need to set your agency apart from the competition. Why be a jack-of-all-trades, but master of none? FInd the one thing you where you can totally crush it and go execute.

Related:
https://youtu.be/8Fw_GseAsiQ
https://youtu.be/gZqQVZheLPk
https://youtu.be/UfZkuHN5qQ4
https://youtu.be/wfG1nJ2I3gs
https://youtu.be/stbKRSmWieU
https://youtu.be/jH5VUXLVQ1c

=======================================================

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER. http://jasonswenk.com

In 1999 he launched a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi, and Lotus Cars. After 12 years of amazing growth, his agency was acquired in 2012.

Now, Jason leads JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow, scale, and enjoy running their agency by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 20,000 agencies in 42 countries meet or exceed their business goals.

Jason generously shares it all as a frequent guest on popular radio and podcast shows. He has been featured as an expert in top media publications such as Entrepreneur and Inc. Magazine. Plus, he currently hosts two of the best agency podcasts:

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and
The #AskSwenk Show, a video show that answers agency questions about successful, multi-million dollar agency.

SCHEDULE

TUES & THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me:
http://www.facebook.com/jasonswenk
https://twitter.com/jswenk
https://www.instagram.com/jswenk
https://www.linkedin.com/in/jasonswenk
https://medium.com/@jswenk
https://soundcloud.com/jasonswenk


Music by epidemicsound.com

A bad agency prospect will become a nightmare client. Don't let this happen to you! I have always said: "there's no such thing as a bad client - only a bad prospect or a bad process."

Here's a scenario where you might have a bad prospect...

Let's say there's a prospect you have been talking to for a while.You both understand and agree that you're the best agency to help them. But instead of focusing on the problem, their goals and the ROI they start asking some questions. Things like....

FIRST, they asked, "Can you cut your retainer in half?"

You say, "No."

They say, "OK."

NEXT, they ask, "Can we pay for the work after you complete the work?"

You say, "No."

They say, "OK."

LASTLY, they ask, "Do you offer a refund for any of the work we don't like?"

Seriously? If you don't like the work your employees do can you get a refund for their salary? Or if you spend a ton of money on Facebook ads and they follow your instructions and you did it wrong, are they going to send your money back? Or if you go to a high end restaurant and love your meal but hate the free bread are they going to give you a refund? NO.

At the end of the day, not every prospect is going to be perfect for you. These types of questions are major red flags, and huge indicators that they are going to be a waste of your time. The hassle is just not going to be worth it.

What can you do in your agency to eliminate time wasters? Comment below and share your nightmare client stories!

=======================================================
SUBSCRIBE NOW https://www.youtube.com/playlist?list=PLDvZHFVeqEMq58q6tMoyMK-ufpp0ysoVP
=======================================================
Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello.

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.

Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.

Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and

SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies, and answers the most burning questions entrepreneurs have.

SCHEDULE

TUE &THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me here:
Website: http://jasonswenk.com
Podcast: http://smartagencymasterclass.com
Facebook: http://www.facebook.com/jasonswenk
Twitter: https://twitter.com/jswenk
Instagram: https://www.instagram.com/jswenk
Linkedin: https://www.linkedin.com/in/jasonswenk
Medium: https://medium.com/@jswenk/
Soundcloud: https://soundcloud.com/jasonswenk

Music by epidemicsound.com

What is Messenger Marketing? How can you use Messenger Marketing to increase your marketing agency revenue? If you're not using chatbots and Messenger Marketing, you're sorely missing out!

Your website probably has a contact page, right? Most likely it is a contact form or even perhaps an automated chat box where people can drop their email address for more info. But, this format could actually be costing you sales.

Look, if you've got someone on your website cruising around for information you've got to answer their questions right away. Otherwise, you're likely to lose their attention. You can actually use Messenger Marketing and a chatbot to have a conversation with your potential customers. We are actually losing people on our websites. The real user experience is happening on Facebook Messenger...

When you use Messenger Marketing, you can set up criteria, conditions in which your Messenger bot will respond. That way you aren't getting lost in their email inbox later.

Did you know Messenger delivery has a 70-90% open rate? And the click-through rate is 40-60%! Compared to email open rate of 20% and 5% click-through rate (on a good day!). So why let your messages get lost in email when you could deliver through Facebook Messenger Marketing?

Now, you don't want to automate everything. But you can easily use a chatbot to automate the questions you always ask a new prospect. Then use their answers to segment them into the right categories. Now here's the real secret...

When I get a new prospect segmented through the automation, I use my phone to record a voice memo to them. I do this with everyone. I strike up a conversation and people are just amazed! When you personalize the message and have a real conversation you can actually help someone find the product, service or solution that's right for them. That's where the money's at!

Think outside the box. How can you stand out? How can you innovate? When others zig, you zag! No one is doing this, so it's GOLD.

MESSENGER MARKETING CASE STORY RESULTS: When I changed my contact page to a chatbot and Messenger Marketing I increased sales by over $250,000 in just 2 months.

Think about it... how can you use Facebook Messenger Marketing to increase your marketing agency revenue? What out-of-the-box ideas can you create to un-automate and stand out? Comment below!

===========================================

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER. http://jasonswenk.com

In 1999 he launched a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi, and Lotus Cars. After 12 years of amazing growth, his agency was acquired in 2012.

Now, Jason leads JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow, scale, and enjoy running their agency by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 20,000 agencies in 42 countries meet or exceed their business goals.

Jason generously shares it all as a frequent guest on popular radio and podcast shows. He has been featured as an expert in top media publications such as Entrepreneur and Inc. Magazine. Plus, he currently hosts two of the best agency podcasts:

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and
The #AskSwenk Show, a video show that answers agency questions about successful, multi-million dollar agency.

SCHEDULE

TUES & THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me:
http://www.facebook.com/jasonswenk
https://twitter.com/jswenk
https://www.instagram.com/jswenk
https://www.linkedin.com/in/jasonswenk
https://medium.com/@jswenk/

Do you know what your agency employees really think? What do agency employees want their agency owners to know? In this video, we hear from an actual* agency account manager as she tells all about her experience working at an agency.

Are you guilty of any of these leadership mistakes?
1. Taking credit for employees work or ideas.
2. Not appearing to trust or empower employees.
3. Not caring if employees are overworked.
4. Not advocating when it comes to monetary compensation.
5. Hiring or promoting the wrong people
6. Not backing employees when there is a dispute with a client.
7. Not providing proper direction on assessments/roles
8. Micromanaging and doesn’t allow freedom to work.
9. Focusing more on weakness than your strengths.
10. Not setting set clear expectations.

Your employees are your agency's #1 asset. Make sure you're treating them right with the appreciation and respect they deserve. When your team feels undervalued, they will not make decisions that are in the best interest of the agency. This will hinder your growth and success.

For more info, check out this great article and STOP committing these classic leadership mistakes! https://www.cnbc.com/2017/07/17/a-survey-shows-employees-absolutely-hate-when-bosses-do-this.html

Have a similar story to share? Leave your comments below and let's improve #agencylife for everyone! :)

Related:
https://www.youtube.com/watch?v=u1Wyqq_jhds&t=2s
https://www.youtube.com/watch?v=dcd8R8sCqX8
https://jasonswenk.com/decisions/
https://jasonswenk.com/agency-team/
https://jasonswenk.com/retain-talent/
https://jasonswenk.com/fire-d-f-employees-now/

=======================================================
SUBSCRIBE NOW https://www.youtube.com/playlist?list=PLDvZHFVeqEMq58q6tMoyMK-ufpp0ysoVP
=======================================================
Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello.

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.

Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.

Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and

SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies, and answers the most burning questions entrepreneurs have.

SCHEDULE

TUE &THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me here:
Website: http://jasonswenk.com
Podcast: http://smartagencymasterclass.com
Facebook: http://www.facebook.com/jasonswenk
Twitter: https://twitter.com/jswenk
Instagram: https://www.instagram.com/jswenk
Linkedin: https://www.linkedin.com/in/jasonswenk
Medium: https://medium.com/@jswenk/
Soundcloud: https://soundcloud.com/jasonswenk

Music by epidemicsound.com

*actor portrayal of agency employee solely for entertainment value

What do you do when a prospect says: "I can get it done cheaper somewhere else"? How do you respond to that? In today's video, I'll tell you exactly how you can respond so this isn't an issue for you any longer.

Tim asked...
How do you deal with those clients who say, "I can get this done cheaper, or can you lower your quote?"

Man, I always loved this question...(sarcasm)

I would start off by saying "I may not be the best fit for you if the price is a big issue. Is it really the price, or is it time or value? Let's step back and look at everything."

First, you want to reiterate the ISSUE and what's it's costing their business by not solving the issue. Then find out what the other (cheaper) quote is and ask why you think they're charging less.

Most of the time it's because the other agency has less experience. If that's the case, here's what might happen (and you can illustrate this to the prospect):

What might happen is that the other agency may not fully understand what is needed. Therefore, they might need the client to spend a lot more time with them and handholding them. By going with the cheaper proposal, the client might end up sacrificing time for money. It will take a lot more of their time and effort to accomplish the goals.

However, if they value time more than money then paying for YOUR experience and expertise is the way to go, even if it costs more.

The key is to help them logically think through the decision and second-guess why someone else is so low-priced, to begin with. And, if they continue to be price sensitive then they were going to be a bad prospect for you anyway. So, it's better to know this now and avoid it sooner rather than later.

I always say there's no such thing as a bad agency client. There's only a bad prospect and a bad prospect. If this "cheapo" is a bad prospect then avoid the headache while you can!

Comment below and tell me your stories about prospects who want to negotiate down in price. How do you handle it or what are you going to do differently?

=======================================================
SUBSCRIBE NOW https://www.youtube.com/playlist?list=PLDvZHFVeqEMq58q6tMoyMK-ufpp0ysoVP
=======================================================
Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello.

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.

Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.

Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and

SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies, and answers the most burning questions entrepreneurs have.

SCHEDULE

TUE &THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me here:
Website: http://jasonswenk.com
Podcast: http://smartagencymasterclass.com
Facebook: http://www.facebook.com/jasonswenk
Twitter: https://twitter.com/jswenk
Instagram: https://www.instagram.com/jswenk
Linkedin: https://www.linkedin.com/in/jasonswenk
Medium: https://medium.com/@jswenk/
Soundcloud: https://soundcloud.com/jasonswenk

Music by epidemicsound.com

Referrals are not scalable! Even though hearing something like, "I've got a lead for you" is a great feeling it's not going to grow your business. If referrals are in your growth plan, then you need a better business plan.

Building a business based on referrals is like sitting on a one-legged stool. As soon as you let go of it or put too much weight on it, the stool will collapse. The same is true for a business based solely on referrals.

Referrals are great, but you'll only get referrals for similar businesses that you're already working with never for bigger business. So, you'll never be able to grow your company because you'll always be working with the same level of clients.

The only 2 ways to grow your business are to: DO MORE WORK or CHARGE MORE. So, if you want to be able to charge more, you've got to have clients that can afford to pay more. Or if you decide to keep prices the same and do more work, then you'll have to hire a bigger team which means your profits will decrease. Either way -- you cannot grow with referrals alone.

So instead of relying solely on referrals, it's important to pick a niche that your agency can dominate. What would it do for your business if you were top of mind in your category? When people think of computers, many think of Apple. When they think of search engines, most think of Google. Wouldn't it be great if your agency was the first thing that popped to mind when speaking about a particular niche or specialization?

If you keep doing the same thing everyone else is doing but do it a little better your business will grow. But it will grow at a slower rate because you're pacing with everyone else and maybe just a little better at sales or marketing. Howeverm if you do something totally different and put your own spin on it, you can OWN it. Tahat's why I want you to pick a niche.

I see so many agencies struggling with lead generation and it's because they don't know how to give their salespeople direction on who to go after. On the flip side, I see a ton of agencies crushing it because they have a solid niche, they know what prospects to go after and they nail it every time.

What's the most profitable niche? I don't know. No one can tell you that, but you. You have to choose a niche you have knowledge and passion in. Be honest with yourself and you'll figure it out.

Are you relying on referrals? What niche is your agency considering? Comment below and tell me how I can help you grow easier and faster.

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SUBSCRIBE NOW https://www.youtube.com/playlist?list=PLDvZHFVeqEMq58q6tMoyMK-ufpp0ysoVP
=======================================================
Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello.

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.

Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.

Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and

SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies, and answers the most burning questions entrepreneurs have.

SCHEDULE

TUE &THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me here:
Website: http://jasonswenk.com
Podcast: http://smartagencymasterclass.com
Facebook: http://www.facebook.com/jasonswenk
Twitter: https://twitter.com/jswenk
Instagram: https://www.instagram.com/jswenk
Linkedin: https://www.linkedin.com/in/jasonswenk
Medium: https://medium.com/@jswenk/
Soundcloud: https://soundcloud.com/jasonswenk

Music by epidemicsound.com

What do you do if you've won a big agency deal and hired a team to work it, but you haven't been paid and there's no signed contract? YIKES! Right?!?

Daniel asked...
"I just won a large deal ($890k) with an existing client and given the green light from the COO to go ahead and build a larger team to execute on the agreed plan.

I have hired 5 new contractors and currently onboarding them. There challenge with cashflow issues on the horizon as the client is way behind in paying previous invoices (about $70k owed currently). I now have weekly contractor expenses of around $10k.

I have been reassured that this is simply an Admin /Accounts timing issue (up until recently there was no Purchase Order for the new project) but I'm burning through personal savings at an alarming rate.

To compound the issue there is no formal agreement signed with the client either (again I'm promised it is happening). This client is large - $7B in revenue - so I am not worried they don't have the cash but need to come up with some way of coping with the cashflow inconsistencies.

Any suggestions on managing cashflow challenges like the above? Also any suggestions on how to encourage the agreement to get signed ASAP?

Well, that's a real doozy, Daniel, but don't worry - we've all been there before!

First -- When you don't NEED extra cash, get a line of credit. Do this when it's not needed because it never fails that when you do need it you won't be able to get it! A line of credit is to be used for temporary situations just like this... In the long run, you know you're going to be fine, but in the short term a line of credit could really help.

Next -- I know you know this, but verbal agreement with a longterm or high revenue client is not a good way to do business. You have to put your foot down and just tell them that you cannot start work until the proposal is signed and you get paid. Without a contract or purchase order you don't have a foot to stand on. If someone leaves the company or changes directions on the project, you're left on the hook for the time, money and resources you've already invested.

What you can do now, is STOP all work on the project immediately. Make a phone call to the COO and explain the situation. Tell them you cannot move forward until you get the signed contract and purchase order.

So, Daniel - here's the steps you need to take to correct this:
#1 - get a line of credit
#2 - get a signed contract
#3 - get a purchase order
#4 - get paid
#5 - never do this again!

Comment below and tell me if you've ever run into a situation like this? What did you do to reverse it, and how did it work out?

======================================================
Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello.

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.

Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.

Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and

SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies, and answers the most burning questions entrepreneurs have.

SCHEDULE:

MON-THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me here:
Website: http://jasonswenk.com
Podcast: http://smartagencymasterclass.com
Facebook: http://www.facebook.com/jasonswenk
Twitter: https://twitter.com/jswenk
Instagram: https://www.instagram.com/jswenk
Linkedin: https://www.linkedin.com/in/jasonswenk
Medium: https://medium.com/@jswenk/
Soundcloud: https://soundcloud.com/jasonswenk

Music by epidemicsound.com

Are you prepared for what you want with your business? Do you know where you're going?

When you look at successful people in business, sports, and entertainment they have a few things in common... They are telling themselves the right story, they're in the right state, and they know what they want to achieve.

The difference between an amateur and a pro is that the pro will push past their limits. What are you doing when no one is looking? Are you doing the grunt work? Preparing, getting yourself ready and doing the things no one else wants to do is the key to achieving success.

I have a lot of agencies that approach me to be their agency coach. I am NOT a coach. Coaches motivate you to be the best player. I am not your coach - I am an advisor.

My strength is strategy. You are already at the peek state, you already know your success story but maybe you lack the ability to strategize on how to get there. That's where I come in. If you lack strategy, I might be able to help you by looking at your challenges and helping you come up with the plan to overcome them. But, you have to be telling yourself the right story.

So I ask you...

Are you willing to do what it takes to separate yourself from the pack? Are you prepared? Do you know what you want? Do you have clarity and focus? Are you positioning yourself the right way? Are you taking action? Can you keep pushing yourself past your limits?

That's what I want from you. That's what I want FOR you.

Want to talk? jasonswenk.com/help

=======================================================
SUBSCRIBE NOW to follow my entrepreneurial journey. https://www.youtube.com/playlist?list=PLDvZHFVeqEMq58q6tMoyMK-ufpp0ysoVP
=======================================================
Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello.

JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.

Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.

Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…

The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision makers that cut through the BS, focus on exactly what works and what doesn’t; and

SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies, and answers the most burning questions entrepreneurs have.

DONATE to help us continue to provide you with amazing content. https://jasonswenk.com/donate/

SCHEDULE

MON-THUR VLOG #SwenkToday
Q&A from my digital agency audience

Ask me A Question
http://jasonswenk.com/askswenk

Podcast Wednesday:
(Digital Agency Interviews)
https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1
or
http://smartagencymasterclass.com

Follow me here:
Website: http://jasonswenk.com
Podcast: http://smartagencymasterclass.com
Facebook: http://www.facebook.com/jasonswenk
Twitter: https://twitter.com/jswenk
Instagram: https://www.instagram.com/jswenk
Linkedin: https://www.linkedin.com/in/jasonswenk
Medium: https://medium.com/@jswenk/
Soundcloud: https://soundcloud.com/jasonswenk

Music by epidemicsound.com