Business owners are always thinking about how to get their businesses to the next level. But even the most successful and enterprising of business owners get stumped every now and then. Suddenly business growth plateaus, and it’s not always clear how to get out of this rut and back on the right path.
Last week’s Boost Your Business: Be a Powerhouse Agency in less than Year with SEOReseller Webinar discussed how any SEOReseller partner can become a Powerhouse Agency. The response was overwhelmingly positive! There were so many questions during the webinar that we couldn’t get to them all during the Q&A portion, and answered them over the phone with several of the attendees instead. For the ones we weren’t able to answer, rest assured that we’ll be tackling them in future “Boost Your Business” Webinars.
To recap, a Powerhouse Agency is one that:
- Offers most if not all digital marketing services
- Has a monthly recurring revenue (retail) of more than $100,000
- Has more than 5 employees, most of whom specialize in a certain service, channel, or product
In addition, Powerhouse Agencies that stay Powerhouses don’t rest on their laurels. They’re able to continue growing by keeping up-to-date with industry trends and investing in omni-channel solutions.
Becoming a Powerhouse
We’ve worked with a countless number of partners over the years, many of whom truly deserve the distinction of being called Powerhouse Agencies. But among this group are the elite of the elite, those who grew their business at a rapid yet healthy pace, practically zooming to Powerhouse status.
The good news is that these traits and habits can easily be learned by any of our partners. Below, we’ve condensed our observations into Key Insights that can unlock growth for you and your business:
- Establish and expand your network
Leverage on contacts–family, friends, former colleagues–and join organizations, industry associations, etc.
- Charge the care you are ready to give
Don’t be greedy, be reasonable with pricing by marking up based on the value you give to clients.
- Delegate and automate as much as you can
Save time on reporting and have a dedicated person do certain tasks.
- Develop your skills and expertise. Be the authority in your niche
Do your homework and take the time to study the industry, methodology and best practices.
- Be a partner, not a technician
You won’t be able to maintain that role and you’ll hit a growth ceiling really quickly.
- Start Locally
Start creating a successful portfolio locally, then expand your reach.
- Focus on a niche
You will be able to understand a niche really well in a short amount of time and become an authority.
- Qualify potential clients and know when to let go
Do a backlink analysis, find out what their yearly budget is & find out their SEO history.
- BUT don’t disqualify potential clients too quickly
SEO clients tend to make an emotional buying decision in the first 30-90 days.
- Don’t try to chase the holy grails
Rather go for multiple little grails. It’s very risky to have one client fund 80% of your revenue.
- Scale when you have a solid base of clients
The ratio of time you spend with the client vs. how much they pay should make you profitable.
- Always sign a contract
Signing a contract trains your clients to think long-term. Including a 30 day exit clause will give them peace of mind.
- Get your clients married to the dashboard
This will give you the ability to scale by saving you time on reports.
- Leverage networking effects
Speak at events, go to industry seminars & conferences.
- Don’t give up on your dormant leads
Reconnect with old prospects.
- Don’t build your own methodology
Find a reliable provider with a proven methodology to partner with.
These are the general principles that guide our fastest-growing partners all throughout the growth of their agencies. But because how you apply these principles varies depending on what stage your business is in, it’s important to first evaluate where you are right now, and determine what you can do to progress.
This is why we’ve synthesized our insights into an Action Plan Assessment that you can use as a guide. Partners can use this to determine the steps needed at each business stage to progress to the next, and eventually become a powerhouse agency.
As your partner, our mission is to give you all the tools you need to help you and your clients succeed. This goes beyond providing turnkey solutions to providing guidance on how to grow and manage your business. So whether you’re selling digital services on the side looking to turn it into your main source of income, or an established agency whose growth has plateaued, we’re with you through every step of your journey to success.
After all, your success is our success, too.
Do you want to turn your business into a Powerhouse Agency? Call our toll-free number at 1-800-250-6106, or schedule a walkthrough of the SEOReseller platform and we’ll get you started on the right path.