Most startups and companies fail. This sad reality is horrifying, intimidating, and often intercepts entrepreneurs from taking a chance.
I once read an article on this subject years before I took the plunge. It’s no longer online. If this reaches just one entrepreneur and helps them take the journey, my work here is done. Here are three lessons I learned growing my agency to $100k+ MRR.
Whether you’re developing a tech startup or trying to grow your business and agency, this factor holds constant:
It’s your baby. It’s your new project, your passion (hopefully), and your dreams.
This is both positive and negative.
Negative since the longer time you burn off in daily operations means less time for expansion.
Your aim when constructing a service that may scale should not be reacting to customer emails, conducting the whole daily procedure, deliverables, and much more.
Why? This is impractical growth. All things being equal; interaction, representative, and scale.
As you run tasks with your initial not many customers, archive everything. Put together it into classifications and settled reports. Each cycle ought to be finished with agendas, steps, recordings, and notes to where any fresh recruit will produce the equivalent, repeatable result.
Without a process-driven mindset, you can’t effectively delegate and scale.
Also read: Best 10 Semrush Alternative for 2021 (Free & Paid)
The very first months of service life are a profit-driven fantasy.
You just have a few customers, and you’re strapped for time and patience, however, your overhead is all but nonexistent.
Beyond fundamental expenses on applications, your time, and fundamental freelancer outsourcing, profit margins are sky-high.
That is a clear sign you want to employ quicker. Early gains are a siren song calling from the space, distracting you from the treasure marked kilometers beforehand.
I waited too long to hire great people, and it considerably hampered scalability.
The second I hired more staff members was that the turning stage in our expansion. I had more time for revenue , advertising, and really growing the company, not working it.
Lay the groundwork. Refine it. Then put fuel on the fire.
Also read: 2021’s Top 10 Business Process Management Software
One source of sales for agencies is referrals. They’re great, but they’re far from reliable.
Email target accounts offering free value to get your foot in the door and build trust.
Relying on referrals is passive. Passiveness breeds stagnation.
Once the ship is sailing smoothly, it’s your job to drive more sales and create sustainable growth that isn’t reliant on others.