Dec 11, 2018
When was the last time you fired a client? It's almost the end of the year and this is a good time to take stock in your clients... and possibly even get rid of some of the misfits. At the end of the year, we usually take a look at our goals and see where we've landed for the year. We start thinking that we need to take on more clients in order to do better, but that's not exactly the best way to grow. Allow me to explain....
There are actually 2 ways to grow and scale your agency. You can scale by doing more work, or by increasing what you charge.
Now, I know you're really wondering, how do I convince my existing clients to pay a significant increase? Well, a lot of them won't so assume half of them will leave. (And that's probably the reason why you haven't yet raised your prices.) The thing is, you have to know not all the clients you have are the perfect ones for you.
So - do a client audit. Be honest, and ask yourself:
- which clients are getting the biggest value?
- which clients are the easiest to work with?
- which clients have the biggest opportunities?
- which clients are we losing money on?
The thing is, there's a huge opportunity cost. So if you're working with the wrong clients, you're sacrificing major opportunity cost. They are costing you on the opportunity to work with the right clients. These wrong clients are draining your resources, your time, and your energy as well as bringing your team down with them. Those are the CLIENTS TO FIRE!
So, right now I want you to do a client audit and start getting rid of the clients that aren't making you money. Then come up with a plan for the ones that are barely making you money. How can you improve this situation and make it work in your favor?
Look, not all the client you have now are the right fit for your agency. There are times when your agency grows at a different pace than your clients and you may need to cut some clients loose.
Comment below and tell me where your agency is at... do you have
clients you need to fire?
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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 shares
the latest strategies, and answers the most burning questions
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