Have you ever dreamed of being your own boss and making your own hours? Maybe you’ve even though more seriously about starting your own digital marketing agency, but you’re not sure if you can make a living doing it. Well, I’m here to tell you that you can, and I know because I’ve done it myself!
Everyone has different motivations for wanting to branch out on their own and start their own business, and for as many different reasons for doing so, there are many different paths to make it happen. What worked for me might not work perfectly for you, but with hard work and determination, I know you can find success too.
In this blog, I’m going to share with you why I started my agency, the challenges I face, and how my agency made $250000+ in the first two years I was in business! I hope you’ll be able to learn from my experiences and use them to start an awesome agency of your own! I’ll be letting you in on the strategies that I used to build my own agency and how you can apply those to your own business plan.
Benefits of Owning Your Own Agency
Everyone wants the freedom to work when and where they want, travel when they want, buy the stuff that they want when they actually want it, and spend more time with friends and family. Unfortunately, too many people think that that’s an unattainable dream, and don’t try to pursue the kind of career that would give them this freedom.
Even if someone realized that there are opportunities out there to be able to live that kind of life, the average person isn’t aware that you can actually make an AMAZING income from it. If you market practically anything on the internet, you can have a great work-life balance while also bringing in an awesome income.
With your own digital marketing agency, you’ll be able to decide what services you want to offer, and have the luxury of being your own boss. That means you’re in charge of decision-making, and once you’ve established yourself enough, you’ll have the opportunity to focus only the projects you want to undertake, and the areas where your skills and expertise will shine.
How I Got Started with Cereal Entrepreneur
I started Cereal Entrepreneur a little over two years and have been fortunate enough to make a total of $250,000 per year. Achieving that success hasn’t been a cake walk, but having a plan in place and being open to constant learning, I’ve been able to establish and grow a successful digital marketing agency.
Before venturing out on my own, I’d earned a lot of experience with social media and digital marketing working in the corporate world, but I knew that starting my own agency would be a whole other ball game. When I first started Cereal Entrepreneur, I knew I needed to learn as much as I could about digital marketing and how to run a business.
I invested my time and money in as many online courses and training I could find, and used the knowledge to start the foundation of my company and courses. Investing in my continued education is something that I find incredibly valuable, and is something I recommend to anyone who wants to be a successful entrepreneur or agency owner.
Once I had a plan in place for what services I wanted to offer and what niche I wanted to focus on, I reached out to my personal and extended contacts (family and friends) to set meetings, get testimonials for my work, and to get the ball rolling in my networking efforts. Speaking with your personal network about your agency is a great way to start to get the word out about your business—if no one knows what you’re doing, then no one is going to inquire about your services.
The next step was to build the infrastructure for the agency. This meant finding quality team members, establishing operational workflows, and getting myself and my team set up on planning systems like Asana and Google Drive, etc. One thing I’ve learned in my time running my agency is to always be on the lookout for new tools and software that you can adopt into your operation. Sometimes it takes a couple tries to find the right tool for your agency, so always be open to trying something new, and take advantage of free trials whenever you can.
Optimize all business processes, work teams, and maintain a high quality of work across the board to get the best results for all clients.
Challenges of Running an Agency
Of course, setting up my agency wasn’t as simple as it may all seem on paper. Finding qualified leads and landing clients is always a challenge, even when you feel you have a steady workflow. Once your business is up and running, you still don’t get to relax or else you might find yourself making mistakes that could cost you. The important thing is to remain vigilant, to learn from your mistakes, and to always work hard to make your agency better.
However, there are also some common mistakes that agency owners fall pretty to when they’re first starting out. One of the worst and most common mistakes is that many new agency owners undervalue their worth.
This is an easy trap to fall into, especially when your main goal is to attract clients. You may feel that because you lack experience, you should start with lower pricing. I started off with cheaper pricing to attract more clients and increased pricing for my services as I was able to prove my worth, and it has worked out great for me. It’s okay to start out low when you’re still establishing yourself, but remember that those prices should grow as you do.
Another challenge for growing agencies is figuring out when you should start to grow your team and bring on new talent. Remember that you are your biggest asset, and if you’re overworked or focused on small tasks that aren’t helping your bottom line, then the agency will suffer. Bring on new team members as soon as you can to make sure that you can spend your time on what matters most.
What Services Should You Offer?
Digital marketing covers a very wide variety of topics and services. This includes everything from e-commerce, SEO and Keyword Research, Pay per Click Campaigns, Facebook Ads, Video Advertising, Social Media Management, and more. One of the exciting things are working in the field of digital marketing is that new technologies are always developing, so that means the services you can offer will always be changing and evolving as well.
The key to your agency being profitable is in being able to offer several different services for multiple streams of revenue into your business model. Figure out which niche you’d like to focus on, and see which services will be of most value to clients in that niche in terms of who their audience is, and where their audience is spending time and money.
Remember that you’re the one in control of your agency, so if you find that one of the services you offer isn’t working out the way you should, or if you feel your agency is lacking in what you are offering, then you need to adapt. The digital world is always changing, and one of the keys to being successful in digital marketing is your flexibility and adaptability, and that should be reflected in the services you offer.
Running your own digital marketing agency can be an incredibly rewarding endeavor, and just about anyone can do it so long as they put in the time and effort. New skills can be learned and successful processes can be adopted. So long as you are driven and willing to put in the work, your digital marketing agency should be pulling in the personal, professional, and financial rewards that you’re looking for.
If you want to learn more about running your own successful digital marketing agency, then enroll in our Digital Marketing School today! You can also follow us on Facebook, YouTube, and Instagram for helpful tips daily, or join our free Facebook Group to connect with peers in the digital marketing field. You can also check out our blog for more FREE training!