Oct 30, 2018
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!
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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.
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