Building Six SMMA's: A Proven Strategy for Success

Building Six Different Agencies to Six Figures

• The speaker talks about building six different agencies to six figures over the past four and a half years, with the most recent agency reaching $300K per month in just one year.

• The journey started at the age of 17, after being inspired by a YouTube video by a person named Billy Wilson, who shared his success story of dropping out of college and making six figures as an entrepreneur.

• Initially, the speaker struggled with cold calling and offering free trials to attract clients, facing immense pressure to make an income within 10 months in order to support himself.

• Eventually, a turning point came when the speaker partnered with a person named Frank, leveraging cold emails, LinkedIn automation, and a niche-focused strategy to scale the agency from zero to $19,000 per month in six months.

• The key takeaway was the value of a good product, as they found one franchise with numerous franchisees and poor marketing, leading to significant growth through client referrals.

Building Six Different Agencies to Six Figures

The Importance of Formalizing Business Partnerships

• The speaker shares a personal experience of partnering with someone verbally without formalizing the partnership.

• Despite verbal assurances, they encountered disagreements when they tried to formalize the partnership and align their visions for the business.

• The lack of a written agreement led to the speaker being let go, emphasizing the importance of putting partnerships into writing.

• The experience led to the realization that clear communication and alignment of goals are crucial before deepening any partnership.

• The speaker highlights the value of partnering with individuals who possess complementary skills for a successful partnership.

• Following the dissolution of the partnership, the speaker focused on building their own business and discovered their aptitude for sales, which they initially avoided.

The Importance of Formalizing Business Partnerships

Building and Losing Three Successful Agencies

• The speaker initially partnered with a friend to build an agency, offering a 20:80 profit split in favor of the friend, despite having the leverage, and scaled it from zero to 8K a month in 60 days.

• The impact of COVID-19 led to the loss of both businesses, including gym clients, which forced the speaker to reconsider their business model.

• The speaker reflected on the valuable lessons learned, including the importance of free trials, innovative approaches to obtaining them, and the need for a recession-proof niche.

• Despite feeling demotivated and considering other business ventures, the speaker was inspired by a friend's successful pivot to e-commerce during tough times, emphasizing the importance of taking calculated risks and avoiding 'shiny object syndrome.'

• The decision to partner with the friend to sell a franchise model for building agencies led to a valuable lesson about the abundance of money and the challenges of earning it the right way.

• The attempt to fulfill the franchise model offer was challenging, leading to refunds and a realization of being in over their head.

Building and Losing Three Successful Agencies

Entrepreneurial Reflections

• The speaker reflects on his experience with a previous agency, where he learned the importance of selling something deliverable rather than just great. He also overcame psychological barriers around money and gained valuable insights.

• Attending an event in Mexico changed his perspective, as he met successful agency owners, leading him to set a revenue goal of 100K a month within 11 months despite starting from scratch. He then decided to white label for a struggling client, quickly turning it into a 5K a month contract.

• This success led to the launch of a new agency specializing in white-label services, which grew from 0 to 35K a month in six months through client referrals. The business model's net negative churn rate contributed to its remarkable growth, with zero client loss in the first year.

• Hiring his first team member and achieving remarkable client results added to the speaker's sense of accomplishment, but he also grappled with limiting beliefs around coaching and building a seven-figure agency. This led to a desire to prove himself by building a 100K a month agency before his death.

• The speaker then partnered with a successful real estate marketing agency, which sparked his interest in the real estate marketing space. He realized the potential and decided to join forces with the agency, moving beyond white-label services.

Entrepreneurial Reflections

Lessons from Building a Successful Real Estate Agency

• The speaker initially had doubts about acquiring a real estate agency due to the perceived challenges of working with Realtors.

• After partnering with Jared, they invested in paid ads, leveraged financing options, and built a massive sales team, leading to significant growth in the agency's revenue.

• The key lesson learned was the importance of surrounding oneself with people who can increase total intellectual capacity, as stated by Richard Barton, a successful entrepreneur.

• The agency's unique approach involved a hybrid model, including consulting, group calls, and a comprehensive course for clients, setting it apart from traditional Legion agencies.

• The speaker emphasized the significance of finding the right people and being humble enough to admit one's ignorance in certain areas to foster business growth.

• The journey of building six agencies in four and a half years highlighted the predictable and repeatable system essential for scaling an agency, emphasizing perseverance as the key to success.

Lessons from Building a Successful Real Estate Agency

Conclusion:

The journey of building six agencies in four and a half years highlights the predictable and repeatable system essential for scaling an agency, emphasizing perseverance as the key to success. The speaker's experiences provide valuable insights for aspiring entrepreneurs in the digital marketing space.