How to Transition from Entrepreneur to CEO, with Jason Swenk
Oct 16, 2024
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Jason Swenk, founder of Agency Mastery 360, shares his journey from accidentally starting an agency to selling it for eight figures. He discusses the importance of building the right leadership team and the two pivotal 'whos' for growth. Jason emphasizes the need for agency leaders to shift focus from day-to-day management to long-term strategies and team empowerment. He also delves into innovative hiring strategies, highlighting the value of complementary talent and nurturing internal leaders for sustainable agency success.
Transitioning from entrepreneur to CEO requires a mindset shift that focuses on empowering managers rather than micromanaging daily operations.
Establishing clear business objectives and hiring self-managing individuals aligned with the agency's values is crucial for sustainable growth.
Deep dives
Transitioning from Entrepreneur to CEO
The journey from being an entrepreneur to a CEO involves a significant mindset shift, where one must move from a founder-led organization to a structure that empowers managers. Founders often find themselves overwhelmed with daily operations, hindering their ability to focus on long-term growth and vision. Understanding where the agency should go is crucial; it's not merely about scaling revenue, but rather about defining the desired outcome and aligning efforts to achieve that vision. This clarity helps to identify who needs to be hired and what personal transformation is necessary to become an effective leader.
Defining Business Objectives
Establishing clear business objectives is essential for founders looking to scale their agencies effectively. Many agency owners struggle to articulate why they desire growth, often citing revenue figures with little consideration for personal freedom and lifestyle. A vital step in this process is recognizing what truly motivates the desire for expansion—whether it’s greater financial rewards or the ability to achieve a desired lifestyle. Developing a personal and organizational vision allows the founder to build a roadmap that influences hiring, strategic decisions, and overall direction.
Building a Capable Leadership Team
Creating a strong management team is key for an agency's success, as it allows the CEO to transition from day-to-day tasks to strategic oversight. Founders often make the mistake of hiring individuals who require constant supervision rather than hiring self-managing team members who can operate independently. It's vital to seek out individuals who not only possess the necessary skills but also share the agency’s core values, fostering a cohesive team dynamic. This shift enables leaders to focus on bigger-picture strategies while ensuring that qualified operators are in place to execute essential tasks efficiently.
Effective Hiring Practices
Implementing innovative hiring strategies can significantly improve the quality of candidates entering the agency. One effective approach is to include specific instructions in job postings, such as requiring candidates to submit a video alongside their application, which helps filter for attention to detail and adherence to guidelines. This method allows agency owners to identify passionate candidates who resonate with the agency’s mission and values, ultimately streamlining the hiring process. Founders are encouraged to prioritize cultural fit and shared values, ensuring that new hires will contribute positively to the team's dynamics and objectives.
00:01 – 00:44 – Marcel’s Introduction: Marcel Petitpas welcomes listeners to the Agency Profit Podcast and introduces Jason Swenk, a returning guest and friend of the show, known for his agency expertise and role as the founder of Agency Mastery 360.
00:44 – 01:33 – Jason’s Background: Jason Swenk shares his journey of starting his first agency by accident in 1999, growing it to eight figures, and eventually selling it. He reflects on how he transitioned from agency founder to advisor and coach.
02:20 – 02:55 – Success with Major Clients: Marcel highlights Jason’s success with major clients such as Lotus Cars and Hitachi, as Jason reflects on growing his agency into a multimillion-dollar business and the lessons learned.
04:50 – 06:28 – Scaling with the Right Team: Jason explains the significance of building the right leadership team to scale and how to ensure the team is aligned with the company’s vision.
07:35 – 09:55 – The Two "Whos" in Leadership: Jason outlines two key “whos” for agency growth: who do you need to hire to scale the agency, and who do you need to become as the leader to support that growth.
12:19 – 14:35 – Shifting Focus to Long-Term Strategy: Jason shares how focusing on long-term strategy and empowering team members can unlock new levels of growth and how founders should stop managing day-to-day operations.
16:07 – 19:25 – Empowering Your Team to Take Ownership: Marcel and Jason wrap up by discussing how to empower teams to take ownership of their roles, make decisions, and drive the agency forward without relying on the founder’s input for every decision.
23:08 – 24:45 – Continuous Problem Solving: Marcel and Jason discuss how entrepreneurship is a constant process of solving bigger, more complex problems as the business grows, and how discipline and reinvention are key.
25:52 – 27:54 – Core Values in Hiring: Jason shares the importance of aligning new hires with the company’s core values, ensuring that employees believe in the same vision and standards as the leadership.
29:45 – 31:28 – Simplifying the Hiring Funnel: Marcel and Jason discuss how filtering applicants through creative processes like video submissions saves time and effort, allowing only the best candidates to move forward.
32:55 – 34:45 – Trial Hiring for Leadership Roles: Jason advocates for hiring leaders as consultants for a 90-day trial period to assess their impact on the business before committing to a full-time position.
34:45 – 35:52 – Measuring Success in Leadership Hires: Jason outlines how to measure success for leadership hires by focusing on how they streamline operations, save time, and work effectively with existing teams.
37:25 – 38:45 – Invitation to Agency Mastery 360: Jason invites listeners to check out Agency Mastery 360 and his resources for agency owners, including upcoming events like Elevate in Arizona, where agency owners can learn to step back from day-to-day operations.