scaling your business

Four Tips to Successfully Scale at Your Own Speed

Get this: Just one percent of startups scale correctly, while more than 70 percent end up in a half-grown wasteland. This is the new discovery of 10X-E founder Jason Goldberg, who recently spoke at the Western Cape Funding Fair about the rocky road of scaling a company. Anyone with an idea can start a business, but only people with a vision can grow one. The question that separates those with vision and those without is: “What kind of business do you want to grow?” Some people want to scale quickly and sell high. Some want to establish a steady paycheck doing work they enjoy. Founders who understand their goals -- and the correct path to reach them -- are more likely to join that top percent of companies who scale correctly. No one will defend your time but you. Founders often find themselves doing work they never intended to do. Someone who loves baking might not love the accounting, janitorial work and hiring responsibilities of running a bakery. On the other hand, a terrible baker who loves running a bakery could be excellent in a strategic role but awful behind the counter. Founders of successful companies understand their limitations and personal goals. These four strategies provide a road map for entrepreneurs of all types to scale at the speed that works for them: 1. Stop focusing on gorilla clients. If one client accounts for a large percentage of the company’s revenue, the company is vulnerable. Clients can become dissatisfied or unmanageable for any reason, and if a company is overly dependent on one, a severed contract could mean layoffs and worse. This is true for companies both large and small. According to Bloomberg, when Express Scripts announced that [...]

How to Prevent Scope Creep when Scaling Your Business with Ryan Meo

If there’s one type of project that every agency struggles to do profitably – it’s websites. But what if it was possible to do web dev and not lose your shirt? My podcast guest Ryan Meo runs ScaleSquad.com, a private label website services outsource solution for agencies. He and his team have web dev down to a science, making great revenue on the types of projects that many agencies struggle to deliver on time or anywhere near the budget. One of the secrets to their approach is to focus on what their clients aren’t getting instead of what they are. Ryan and I spill all of his secrets starting with: How Ryan started selling websites -- even though he didn’t know how to build them Taking a custom service like web design and making it scalable Why you have to prevent scope creep by being firm with clients on what their deliverables are (or by moving them up to a higher package) How Ryan is able to charge a low, flat rate for his websites and why he puts a lot of focus on what isn’t included in those packages How to prevent scope creep, especially as a web dev shop Why you shouldn’t turn away customers who can’t afford your bespoke services Why agencies make a big mistake by talking too much in the initial call with a prospect Building a strong relationship with an outsourced web-dev shop like Ryan’s Why your project manager makes or breaks your agency The importance of over-communication How to mitigate unrealistic expectations What the ideal agency looks like for Ryan Ryan Meo has worked with hundreds of agencies and built thousands of websites over the years. About 10 [...]

How to Clear the Obstacles that Prevent You from Growing and Scaling Your Business with Karl Sakas

Starting an agency is easy. Growing and scaling your business is anything but. There are lots of obstacles and landmines, not to mention just trying to run the agency, which can get in the way.  My podcast guest Karl Sakas and I chatted about those obstacles and how to move around them.   Some of the specifics we talked about included: the number one question owners must answer in order to understand what type of agency they want to grow ways to delegate work so you can focus on what you love about agency work how agencies can manage their time, stating, “no one will defend your time but you” how to figure out where you want to go and get people to help you so you can get there faster. Karl Sakas served as the #2 man in a couple different digital agencies before he created the Marketing Agencies community at Inbound.org, which has over 1,000 agencies in 48 countries. As president of Sakas and Company, Karl advises agencies worldwide about strategy, operations, and leadership.He has recently published a book entitled, “The In Demand Marketing Agency: How to Use Public Speaking to Become an Agency of Choice.” To listen – you can visit the Build A Better Agency site (https://agencymanagementinstitute.com/karl-sakas/) and grab either the itunes or Stitcher files or just listen to it from the web.   If you’d rather just read the conversation, the transcript is below. If you're going to take the risk of running an agency, shouldn't you get the benefits too? Welcome to Build a Better Agency, where we show you how to build an agency that can scale and grow with better clients, invest in employees, and best of [...]