#6 - DETAILS: How I built & sold my 7-figure ad agency
Oct 22, 2023
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Max, an ad agency owner and newsletter business builder, talks about his journey from an investment banker to building and selling his 7-figure ad agency. He shares insights on scaling the agency, increasing profitability, and building his newsletter business. Topics also include transitioning from finance to marketing, building a client base, creating a flexible workforce, fostering a team environment, scaling a newsletter business, and the value of sharing.
The podcast discusses the journey of starting and selling a marketing agency, highlighting the challenges and impact of changes in the digital advertising landscape.
The speaker shares their transition from running an agency to starting a daily newsletter business, emphasizing the potential of newsletter ads and the importance of creating engaging and valuable content.
Deep dives
Starting an Agency and Selling it
The speaker discusses their journey of starting and selling their marketing agency. They share how they got into marketing, how they built their agency, and eventually made the decision to sell the business. The speaker highlights the challenges of running an agency and the impact of changes in the digital advertising landscape, such as iOS 14. They also touch on the importance of case studies, communication, and valuing the agency correctly while selling.
Transitioning to a Newsletter Business
The speaker shares their transition from running an agency to starting a daily newsletter business. They explain how they initially launched a weekly newsletter, then realized the potential in scaling by offering advertising opportunities. The speaker discusses the effectiveness of newsletter ads, particularly in newsletters with smaller subscriber bases. They highlight the opportunity for B2B companies to create unique and valuable newsletters that go beyond generic updates or product-focused content. The speaker also emphasizes the importance of doing things that don't scale and creating content optimized for engagement and meaningful interactions.
Tips for Evaluating Agencies
The speaker suggests asking for case studies and verifying their authenticity when evaluating agencies. They emphasize the importance of effective communication and responsiveness from the agency. Additionally, the speaker mentions the common pitfall of directing marketing budgets towards campaigns without well-designed landing pages, which may hamper conversions and ROI.
Mamba Mentality and Pursuit of Excellence
The speaker shares their admiration for Kobe Bryant and the Mamba Mentality. They discuss the impact of Kobe's mindset on their daily work and decision-making. The speaker underscores the importance of striving for excellence and approaching every task with the intention of becoming the best, even if the ultimate goal is not to be the world's number one in a particular field.