Outsourcing, Service, Asset, Asset management Profitable Digital Agency With This One Question (Simple But Powerful!)

In this video I’m gon na teach you a very important question that if you ask consistently at your agency it’s gon na help, you grow your agency faster and more profitably., All right, let’s jump into it.. The question that I’m referring to is right behind me on my magic digital, whiteboard, here., And the question is: is this in process? Is this in process? I know it may not seem like that big of a deal, but this is a really critical, question.. Now, of course, this begs the question: what is the process that I’m referring to And it’s? Actually not just one process. It’s, actually a series of processes that you have to design deliberately at your agency? Okay. I’M, a big fan of the book, quotThe E Mythquot from Michael Gerber.. Maybe you read that at some point in your career., If you haven’t, I highly recommend that you get a copy. In the book. Quotthe E Mythquot. He talks about how all businesses are a series of processes and systems that need to be optimized. And the reason why this was so valuable for me is it took a lot of the complexity out of building a business for me.. Okay, when you see somebody else build a business from an outside perspective, you can think that there’s some sort of magic to it right. But when you break it down, and you realize that every business is made up of a process for marketing and sales right to market and sell to customers and then onboarding and starting the delivery of services to that customer or delivery of a product to that customer And then maintaining and retaining the customer.

And then you know there’s all kinds of other processes that go into running your business.. You know how you collect money and how you pay your bills and all those things are processes., But the core processes that you have got to develop at your agency are these marketing and sales.. How do we go about getting customers onboarding and delivering our services and then maintaining and retaining., And that last part is so darn important, because most agencies are killed by churn.? You put all that effort into getting a customer, and then the customer only stays with you for a few months. Long term. Recurring revenue is the absolute lifeblood of this business. So when I say quotIs it in processquot, Really what I’m referring to is these three distinct processes at your agency. And when I say quotIs it in processquot? The point is to be successful, particularly if you’re selling to small businesses. You have got to design these processes very deliberately and you don’t have any room in your business model to be pulled outside of these processes. And when I say pulled of these processes, let me give you an example., So let’s say that you’ve nailed down a few Services that you’re gon na offer to the restaurant industry, okay And you’ve got a marketing and sales process and you’ve got it all. Dialed in. You don’t, have to do like lengthy custom. Proposals. You’ve got these very simple packages that you present and you know it’s either.

Quothey customer sign up for one two or three.quot, And so everything is very efficient right. That sounds like a well designed process., But then somebody comes along in a different industry. And for whatever reason, even though you decided to focus on restaurants, you think wow. This looks like a pretty good prospect. And they actually are talking about some bigger money that they can spend with me., And they would like me to do a proposal., And I know I’m gon na be competing against these two other agencies that are also doing proposals. But I think I’ve got a good relationship with this guy and I think I could win it. And so now you’re in a totally different sales process. Aren’T, you You’re spending your time doing: research, putting together proposals you’re having meetings and trying to find out. What do you have to do to compete and win against these different agencies.? Your sale cycle gets all stretched. Out. You’re no longer doing the prospecting that you should be doing for really dialed in targeted customers right And so now, you’re out of process.. Everything starts going out of whack and almost every agency. Does this because you’re not very deliberate about designing these processes. And so every opportunity or perceived opportunity that comes along your way, which is usually to somebody that says they’ll write you a check for something you wan na say yes to, even though it’s custom stuff that Pulls you out of your process.

Onboarding and delivery right. If you again have designed these three simple packages that you sell to your customers, but then somebody comes along and says: hey I’ll spend 5000 with you for a website, and you say yes and that’s a totally different service delivery process than what you’ve designed around you’re Out of process. And then finally maintaining and retaining. Again, you say yes to certain customers that aren’t really a fit pretty soon. Those customers are gon na feel quotEh this service. Maybe they did a good job at the beginning, but they’re not really able to maintain it.quot And churn happens right. All of this happens because you stay or you get pulled out of process.. You have got to stay in process., So I’ll give you the story behind. This is when I was building my first business ever on technology services, where we did IT management for small businesses. We knew we had to have long term recurring revenue, and our model was unlimited support for a flat monthly fee.. So we were actually risking a lot right. Somebody could have a bunch of tech problems and we’d be on the hook to solve them.. So we knew that we had to be very deliberate about our processes, about who we would market and sell to and at what price points and what our packages were and how we would onboard and deliver them to minimize as much of the variability as we could To deliver a very efficient service.

, And if we did that, we could maintain and retain those customers for years, which is what we did, which is why we’re able to build a multi, seven figure business that we’re able to sell. And that’s. What you’ve got ta do in your agency. To determine what those processes should be and how they should look. You’Ve got ta get clear on three things. You’ve got ta get clear on who you sell to first.. You cannot sell to everybody.. There is no way. Again. If you’re selling to small businesses and you’re telling me quotI’m servicing a chiropractor today, a restaurant tomorrow and a law firm, the next dayquot I’m telling you you don’t, really have a business.. You may be generating some revenue, but that business is not gon na go anywhere.. It’S not gon na be very profitable. And you’re gon na be spinning. Your wheels years from that. You’ve got to decide who it is specifically you’re gon na serve, because every business has different needs. And you again have to design a very specific process to be able to meet those needs and do it in an efficient way. A cost effective way and do it consistently month after month, customer after customer.. So who is your first decision? Next is what. Based on that who you can define your what. Again, certain customers and certain industries are going to have different needs right. They’Re gon na need different services or they’re gon na need different levels of those services.

. Some are gon na need more hand. Holding some are gon na need less. Some services, you can deliver. You know really baseline technology, whereas others it’s gon na be based more on talent., So you have to determine first who and then what you sell. Now the key is what you sell needs to be determined by you, based on leading those customers to success. Okay, There’s some in restaurants and law firms. Those are not marketers., They don’t really know what they need from a marketing perspective.. And so, if you listen to them and you let them pull you all over the place, you’re again just going to be pulled out of process by every single customer that comes along that thinks. Quotmy business is unique. It’S different.! I need something unique from your service.quot And the reality is these businesses are not unique and you need to show leadership in terms of what it is that you sell them to get the result that they’re looking for., You need to say, quotHey. We specialize in providing X, Y and Z to this industry. And we have designed our services and the assets that go with those services, the campaigns, the technology, to get the result that you’re looking for. We’re experts in this.. This is what we do.. You need to sign for our services and let us lead the way.quot And your customers are looking for that leadership from you.. That is what differentiates you from all the other just kind of outsource service providers out there is that you can show that you can lead them to the results that they’re looking for.

And then finally, how you deliver. Okay, Once you can determine who and what you can figure out, how you deliver. Now the secret to success in this business from a service delivery perspective is that this needs to be as technology based and automated as possible. Okay, If you are selling your time or you are selling you know your talent to small businesses. Small businesses don’t have enough money to pay you for your time and talent and build a scalable business.. If you’re selling to the fortune 500, you can do that., But small businesses don’t have the money to do that, which is why anybody that you’ve seen try to do that model just ends up on a hamster wheel, not really getting anywhere and it’s, because they get One customer that will pay ’em the margins of that job, aren’t really enough to sustain them for a while.. Then they have to go out and find another customer. That customer drags out payment because they don’t really have the budget for it.. And you end up in a nasty cycle. Trust me I’ve done this for years before I figured this out in my IT services. Business., You end up stuck in what I call the cycle of doom.. Your services have to be delivered using technology and automation and scalable assets that you can take those assets like a funnel that you’ve designed and reproduce them for customer after customer after customer so you’re delivering that magic each time, but it doesn’t.

Take you reinventing the wheel. Each time right, So you have got to deliberately design the answers to these questions so that you can put these processes in place. And when you do every time that you have something come along in your agency. You know you hear about some new technology or some new service. You know there’s a new course out there to buy and you think quotWow. This sounds like the answerquot right. Quotthis sounds like something that I may wan na offer to my customers.quot Or you have a sales person who goes out and know just smells money., And so they start pitching. You know quotOh yeah. We could do this.. We could do that to some customerquot right And it’s custom work.. This question is this in process. Once you have designed those processes for the specific who, the specific, what you’re going to deliver to them and how you’re going to deliver it, you have got to stay in process at your business.. When you stay in process, your business gets more efficient, service delivery gets more consistent, your customers are happier and they stay around longer. So you get that recurring revenue which leads to profitability on the bottom line that you will never achieve. If you go out of process. Okay, I hope that this was helpful for you.. If it was please like comment share this with somebody else who could benefit from it.. If you have any questions, please ask them below this video.

I’d love to do my best to answer them for you., And please subscribe to my channel while you’re, here, okay And one more thing, if you’d like more information about how to design what I call services That scale we’ll have something here for you at the end of this video. Please go and check it. Out. I’d love to hear from you and see if I can help you, okay, Thank you so much.. This is Mike with LVRG and Services That Scale we’ll see on the next video.

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Written by freotech


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