In episode #938, we discuss whether it’s worth it to start a digital agency. Tune in to hear if an agency could help your cash flow.
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TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: Is it Worth it to Start a Digital Agency?
- [00:38] Neil started out with Advantage Consulting Services.
- [00:53] A lot of people start agencies and then parlay it into a software company.
- [01:15] It’s a good way to get cash flow for other projects.
- [01:54] Eric feels with every new client you ad, the service gets worse.
- [02:25] Neil started an agency because he gets so many leads, that he had no choice.
- [03:00] However, an agency doesn’t scale that well.
- [03:25] Consider keeping your agency lean to insure your cash flow.
- [04:40] Expansion is hurting Neil’s profits, but it’s still working for him.
- [05:00] It’s hard to scale an agency past $5 Million.
- [05:35] It’s not easy to grow an agency in the first place.
- [05:47] They don’t generate revenue the same way.
- [06:12] Go to this Single Grain page to watch a video about growing an agency.
- [06:54] That’s it for today!
- [06:57] We hit our goal of 1 Million downloads! So, we will be throwing a free event in Los Angeles. Check out this website if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested!
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