Bit about me:
Went from 0 to $50K/month music agency in 3 years
8 employees, 60 artist roster
we created the best modern music for TV/movies/video games
Super Bowl, Mercedes ads, Fortnite etc
Our biggest clients: Warner, Sony, and other Fortune 500s
I fucked up SO MUCH along the way
Tons of mini-failures
Eventually turned into Big success
LEARN FROM ME
DON'T MAKE THE SAME MISTAKES I DID
Here are 8 Terrible mistakes I made when building my agency
Keep reading & take notes ⬇️
#1 - BEING A “FULL-SERVICE” SOLUTION
so many agencies
do EVERYTHING
Marketing agency?
"Oh, we do Google Ads, content creation, personal branding, branding, graphics, copywriting, and sales consulting"
NO
#1 PT 2
start with ONE
just one service
get Clients
KILL IT for them
MASTER THE SKILL
only THEN you can add something new
#2 - NOT NICHE ENOUGH
pick one SINGLE niche
Get specific
"Skincare E-Com brands that make between $50K and $500K a month"
or
"Dental clinics in Houston with at least 10 employees and $1.5M yearly revenue"
ONE VERY SPECIFIC NICHE
QUICK PAUSE: FREE VALUE
Reply to this thread’s top tweet with any emoji
I'll DM you a list of 191 rare niches I created
#3 - HORRIBLE HIRING
Hiring the WRONG person is 10x worse than not hiring anyone at all
You spend time:
hiring
training
bringing them up to speed
introducing to team members
Hire the Wrong person?
You’re set back 1-2 months
#3 PT 2
This is why hiring processes are SO IMPORTANT
Steal my Hiring Gameplan below 👇🏼
https://t.co/oS4Jt5snK0
#4 - SHIT SYSTEMS
You NEED systems & automation
Get Notion & Zapier subscriptions
Set up CLEAR CUT, EASY TO UNDERSTAND SYSTEMS
#4 PT 2
Every system has:
- What, when, why description
- Step-by-step process
- Video run-through
- Resources
I had over 300 systems in my Music agency
New employees came in and said "wow, this is the most systemized company I've ever seen, so organized"
THAT is what u want
#4 PT 3
READ & TAKE NOTES on my Systems thread below
https://t.co/OrZzPvHvbE
#5 - LACKLUSTER LEAD FLOW
you NEED to get leads. Obviously
HERE ARE 5 WAYS TO DO IT
1) Cold outreach (LinkedIn, email, outbound calls)
2) Paid ads (FB, Google, LinkedIn, YouTube)
3) Personal brand (demonstrate authority, build a brand, leads will flow in effortlessly)
#5 PT 2
4) Partnerships (partner /w someone who has large organic traffic catering to your ideal clients)
5) Referrals (kill it for clients, ask them to refer u, give them a 10-20% recurring cut in perpetuity)
#6 - NO FEMININE ENERGY
I bet you're thinking... "what? what is he talking about?”
YES
at one time in my Agency
We had 5 employees
ALL MALE
"Something's off", I thought
it was
you NEED Feminine Energy
at least 1-2 women should be on your team MINIMUM
#7 - NO COMPETITIVE ADVANTAGES
you need Competitive Advantages
at least 4 or 5
things that set you apart from your Competition
This is called a "moat"
ALL successful agencies have a powerful moat
#7 (PT 2)
Examples of Competitive Advantages
- Horizantal growth (scale your service /w ur existing clients)
- great systems/automation
- great client relationships
- high-level partnerships
- big/powerful network
- branding/marketing
- great leadership
- work ethic
- UI/UX
#8 - SHIT EMPLOYEE BENEFITS
when I started my Agency
I paid hourly, didn't pay bonuses, didn't care about employee self-improvement
and employees couldn't get promoted
NOT GOOD
After 6 months of employees leaving every 2-3 weeks
I developed systems for THESE 3 THINGS BELOW
#8 PT 2
1) proper incentivization
bonuses, profit sharing
incentivize employees to work harder, smarter, stay longer, & care more
2) skills dev opportunities
put aside 2-5 PAID hrs/wk for each employee
to learn new skills
helps both u and employee
3) upward mobility
#8 PT 3
make SURE
if an employee is killing it
you can promote them
Again & again
It's ON YOU as Founder to create these opportunities for your employees
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@DONVESH @linkedin_king @THETYFRANKEL @blackhatwizardd @ecomchasedimond @OneJKMolina Ty, OUT ✌️