How to Scale Your Agency from $1 to $2 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.
In this video we will focus on having a dependable, predictable outcome to the product or solution that you sell to scale your agency from 1 to 2 million.
Scale Your Agency from 1 to 2 Million Dollars
0:55 Having a dependable predictable outcome to the product or solution that you’re selling.
1:46 What is our go-to-market strategy
2:00 Where people go wrong in this step
Hi, this is part two of the Scaling your Business from 0 to 10 Million Dollars video series. In this part, we’re talking about going from one to two million dollars a year in revenue for an agency. At this point, you have a dialed in traffic channel. You have a great supply of people raising their hand and saying they’re interested in your product and services, i.e. you’re dialed into your audience. Now you’re really looking at the implementation side of the business.
Now, this personally is one point where I’ve burnt out in the past. That is, you found this ability to sell and you’ve got this amazing product that everybody wants to buy but now all these people are coming in your service-based business. It’s very easy to burn out or to disappoint your clients if you don’t set up the right systems for this. Really, what the system is and I’m not talking about all the systems procedures, team training tactics and things like that. It’s having a dependable, predictable outcome to the product or solution that you sell.
You need to be able to say that every person that comes in and buys your product or service or solution from you, is going to get the same outcome. Now, it’s a variable to the individual, the unique value that you deliver to that person, but let’s take an example. If you are a marketing agency that serves non-profits like my agency did. We knew that for every dollar that came in, $1.20 had to come out. That way, that every campaign was successful. Now in reality, for every dollar that came in, $3.60 came out. I could walk into a non-profit organization and say, “Hey, we’re going to invest a hundred thousand dollars in a marketing campaign.
You’re going to get a check for a hundred thousand dollars this year and we’re going to recoup our costs and it’s going to cost you nothing.” There’s a dependable, predictable outcome to every campaign that we implemented. Then once we had that, we could look at what is our go-to market strategy for each campaign. Just as we built a go-to market strategy for ourselves, i.e. eating our own dog food in the development of a campaign, we would be able to do the same for your clients.
Here’s where people really go wrong at this step. They go in and they get an initial sale and an initial value prop, and then they start taking on all of the extra work and they go completely out of scope. An example is a marketing agency that specializes in traffic and conversion getting into web development. That’s one of the catastrophic failures that we see for marketing firms. It seems like easy money. It seems like, “You know what? I can buy this site for $500 from an outsourced person. I can sell it for $2,500, $5,000.” It becomes a time suck and it starts to deviate you away from your primary mission of that blue line that you’re trying to follow.
When you get in and you start making money, the goal is that dependable, predictable outcome. Here’s the reason why. When we get into the next series, which is Scaling from 2 million to 5 Million, and you start building systems, procedures teams, you can only do that if you have one methodology for going to market. If you’re trying to serve ten different product lines with a one million dollar a year revenue stream, you’re going to fail. You’re going to burn out.
Concentrate on that one thing that you do. Do it over and over again until you’re the best in the world at it. –Tweet This!
If you’re not going to deliver results to your clients.You might as well quit now and I’m not being facetious here, I’m just being serious. Concentrate on that one thing that you do. Do it over and over again until you’re the best in the world at it, and then make sure that every client that comes into your funnel has the exact same outcome. Success, whatever that metric may be, every client has it, so that you have a dialed-in offer. You have a dependable, predictable outcome. Then in the next video, we’re going to talk about taking that from two million to five million dollars a year by expanding into systems, procedures and taking you out of the business. Roger from Enfusen, thank you for watching this video.
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