How to Scale Your Agency from $0 to $1 Million
Roger is the Founder at Enfusen. He was #40 on Entrepreneur Magazines Most Influential Digital Marketers in 2016. His past companies have made INC Magazines Fastest Growing Companies in 2011, 2012, & 2013.
This is the first video in the “How to Scale an Agency” series. This stage is where you can bridge from a hobby to a business by scale your agency from $0 to $1 million.
0:55 The first step in going from $0-1 million
1:39 How to get people to say “I want what you’re selling”
2:48 Why you’ve been stuck in the pre $1 million dollar range
What we want to discuss today is scaling your business, mostly I’m talking about businesses in the agency side of the world. Now that can be coaching, consulting, marketing services done for you, services, branding, PR, anything like that. We’re going to talk about the first stage of scaling, which is the 0 to 1 million.
The people that I talk to that are being most successful are the ones that get this first step. Now I have to say that there are no absolute rules when it comes to this. I’m going to give you the best practices for scaling your business from 0 to 1 million dollars as I know them to be true and businesses that I have brought through that point. That doesn’t mean that there aren’t people out there that can do 5 million dollars a year in revenue from a service space, mastermind, coaching, consulting, marketing firm business without doing this but for the other 98% of us, this is usually the easiest way to do it.
In order to go from 0 to 1 million dollars, the first step in scaling is dialing in your offer typically from a paid traffic perspective. If I sit down with an organization and they’re in that 500-600 thousand dollar and below space, and I ask them, “Where do you get your leads from?” It’s typically networking, events, trade shows, they say social media, but can never really provide statistics on how many people come into their funnel from social media campaigns, and they’re struggling. They’ve been stuck there 1, 2, 3 years. Really what that means is that people had bought you, they haven’t bought your product. That’s good for a hobby but it’s not good for a business.
Get people to raise their hand and say, “I want what you’re selling”–Tweet This!
How do you switch that up? In order to scale your business, you have to be able to get people to raise their hand and say, “I want what you’re selling” without actually knowing them, and the best way to do that is paid traffic. What does that force you to do? It forces you to figure it out what type of ad copy you need to put out there to get someone’s attention, what type of landing page copy do you need to get someone to voluntarily give you their information and say, “I want to talk to you” then the process for engaging them in the sales process and then the overall value proposition that can be delivered remotely in order to get them to close. Those are some pretty complex pieces but putting them together means now that you have a faucet that you can turn off and on whenever you’re ready in order to grow your business. Now this can be done through Facebook marketing, LinkedIn marketing, Google AdWords, affiliate programs, there’s a lot of different things, but you’ve got to be able to take cold traffic and convert them into a paying customer. Now I’m not talking about instantaneously because I’m not talking about info-products, I have no experience in info-products, I’m really talking about that service side of the world where you’re selling a monthly retainer fee or an annual subscription fee, that’s 5 to 25 to 50 thousand dollars.
If you’re looking at why you’ve been stuck in that pre- 1 million dollar range, I guarantee it’s because you have not dialed in at least one traffic channel that converts on a regular basis that you can scale because if you did, you’d already be making a million dollars a year because you would’ve turned that faucet on and you’d be ready to make your money.
I’m glad to talk to you a little bit more about this. If you have any questions or comments feel free to leave them below this video, and I do understand that there are exceptions to the rule. I can think of 2 or 3 people that come to the top of mind with this right away that have been doing this for 10 years, they’ve got a wonderful brand, they’ve got a wonderful positioning statement, and that they don’t need traffic. They are the exception to the rule. We aspire to be like them, and hopefully someday we can transform our business, but until then, if you want to hit that million dollar mark, dial in a channel and scale it, then dial in the next one, the next one, and the next one so that if one of them ever goes away, your business doesn’t. This is Roger from Enfusen, and thank you for listening. To learn more about agency scaling request a demo