May 15, 2018
I want to go over a million dollar lesson and hopefully help you avoid making it. It's something every entrepreneur should be thinking about and mindful of as they navigate through their entrepreneurial journey.
I'm just returning from Durgango, CO (so there's lots of gratuitous shots in the video!) where I'm building a second home for my family. So it got me thinking about a friend and mentor who told me his million dollar lesson he learned.
He bought a condo in Florida as a second home for $500,000. They used it and loved it for many years, but eventually decided to sell it because it's value had increase by $1 million. When he decided to sell, they listed with one of the best agents in the area who had been selling lots of properties. However, they really negotiate the agent's commission down super low.
As months and months went by, his condo did not sell. This was in the end of 2007 and beginning of 2008.... they could not figure out why lots of other comparable condos were selling but not theirs.
Then the market crash of 2008 hit. Game over.
The lesson here is that negotiating down that commission fee cost them the sale of their condo and $1 million in profit.
The point is.... if you find someone who can do a service for you and they're the best, don't negotiate down. Value is value ~ and you get what you pay for!
So when you're looking at who can help you grow and scale your agency, you should look at who can help you get there the fastest and easiest. Not necessarily who's the cheapest. And conversely, you should get your clients to realize and understand the same.
Who can help you reach your goals? Who can get you there quicker? Even if it costs more; you can always make more money but you can't make more time.
Comment below and tell me how you've avoided the million dollar mistake. What are you going to do to reach your goals faster and easer?
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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
Jason currently hosts two shows that are available for download…
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SwenkToday a daily VLOG that documents the entrepreneur journey
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