Dec 4, 2018
VaynerMedia is one of the biggest and best agencies out there now, and it isn't profitable; Gary Vaynerchuck even said it himself! But that's by design... and here's why.
Now, I'm a huge fan of Gary Vee so this is not a personal attack. Actually, I was watching a video where he is talking about top line revenue and why his agency is more focused on that instead of the bottom line (profit).
It's all about Gary's long-term vision and goals for his agency. He uses his agency to learn the industry and experiment in marketing. So, that way when he's able to buy other businesses/investments he can turn his marketing machine on them to turn those profitable. That's Gary's long-term vision and why he's not concerned with bottom line profitability.
It's the same as me, building my personal brand at JasonSwenk.com. I'll never sell the personal brand, but I can use my learnings to build other companies. I'm thinking about it with the long term in mind.
Look at Amazon -- they are not thinking about the short term for the shareholder, they think long-term growth strategy and what's next. I will always bet on Jeff Bezos' success because he's got that mentality.
Think long term and think about profit...
I had Mike Michalowicz on my podcast (check it out: https://jasonswenk.com/constantly-working/) and his book Profit First is all about paying your self first. We are taught in business that we take income minus expenses and what's left is profit, but Mike believes in paying yourself first. That's what I want for you guys... long term goals and profitability.
What's your long-term vision? What numbers do you look at when you're considering your agency's growth? 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 shares the latest strategies and answers the most burning questions entrepreneurs have.
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