The Agency Accelerator The Challenges To Growing An Agency with Erik Huberman
What’s it like to scale an agency? And what challenges do you need to overcome? That’s the topic of today’s podcast and I am joined by someone who is extremely qualified to answer these questions!
Erik Huberman, CEO of Hawke Media and author of the brand new book, The Hawke Method.
Erik went from making only $350 his first year in business to growing and selling two successful companies.
Today Hawke Media is the fastest growing marketing consultancy in the US and has been valued at over $150 million with 250+ employees and offices across the world.
Erik was very generous in sharing the knowledge he has gained, the mistakes he has made and some key tips for planning your agency’s growth.
So grab your pen & paper, your favourite drink and let’s get on with the show.
Time Stamp
[02:30] Why and how Erik started Hawk Media and grew it to over 300 staff in 8 years
[03:25] Why so many marketers and agencies are not great at what they do!
[06:25] What were your plans for growing Hawk Media?
[07:00] Hawk Media’s most painful years
[08:30[ The importance of a simple business plan - use a scoreboard - don’t overcomplicate things
[09:30] What are your future plans and how did Covid impact you?
[16:25] Key challenges and hurdles that get in the way to agency growth
[17:50] The importance of thinking of your agency as a SPORTS TEAM rather than a FAMILY
[18:30] Don’t hire ahead (i.e. don't base recruitment decisions on projections rather than actuals)
[19:15] Don't be the main salesmen as you grow
[21:00} How do you define success?
[23:45] Most successful business owners never sell their businesses (so build a self-running agency!)
[24:50] The importance of work/life balance
[30:35] Don’t think of the challenges your agency faces as ‘difficult’ - it's an unhealthy way to look at your business
[32:29] Don’t get frustrated when your team don’t perform like you. They are not entrepreneurs!
[33:28} Erik's new book: The Hawk Method
[36:00] Don’t catastrophise the challenges your agency faces every day! Change your mindset from ‘problems’ to ‘challenges’
Quotations
“99% of agencies and marketers have no idea what they are doing!” - Erik Huberman
“We were in our puberty stage as an agency - everything didn't quite fit! Every agency goes through this as they grow” - Erik Huberman
“Think of your agency as a sports team, not a family” - Erik Huberman
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Useful links mentioned in this episode: