Grow A Small Business Podcast Scaling a 7-Figure Digital Marketing Agency: Lessons and Strategies from Brain Power Co-Founder Caulen Foster. (Episode 626: Caulen Foster)
In this episode, Troy Trewin interviews Caulen Foster, the co-founder of Brain Power Agency, a marketing agency that specialises in building, managing, and growing ecosystems for direct-to-consumer, native brands online. Caulen shares the challenges of scaling a service business, highlighting that managing people is the toughest part due to the variables around human beings. He also discusses his previous business experience, where he failed to understand unit economics and financial literacy, leading to the business' downfall. Caulen emphasises the importance of these key metrics for success.
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Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice.
And a snapshot of the final five Grow A Small Business Questions:
1. What do you think is the hardest thing in growing a small business?
Caulen Foster, co-founder of Brain Power Agency, says the hardest thing is managing people. He emphasises that people are the toughest part to scale due to the variables around human beings.
2 .What's your favourite business book that has helped you the most? Caulen recommends two marketing books that have been game-changers for him: "Breakthrough Advertising" by Eugene Schwartz and "The 16-Word Sales Letter" by Drayton Bird. He says these books have fundamentally changed the way he writes copy and understands direct response marketing.
3. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Caulen is a big reader and mentions that he's constantly investing in his own professional development through books, masterminds, and training programs. He particularly enjoys learning about human psychology and how it applies to marketing and sales.
4. What tool or resource would you recommend to grow a small business? Caulen suggests a great CRM (customer relationship management) system, such as GoHighLevel, as a crucial tool for small businesses. He emphasises the importance of having the right infrastructure in place to capture and nurture leads effectively.
5. What advice would you give yourself on day one of starting out in business? Caulen's advice to his younger self would be to be patient, resilient, and ready for the challenges ahead. He stresses the importance of understanding that building a successful business takes time and that being prepared to weather the ups and downs is key.
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Quotable quotes from our special Grow A Small Business podcast guest:
"People are the toughest thing to scale, because there's so many variables around human beings." - Caulen Foster
"I would say my biggest mindset shift is probably understanding that things take time. Great things take time. There's a part of me that used to be very like, you know, I would think of something while I'm in the middle of something shiny object syndrome." - Caulen Foster
"Be resilient. You literally replace that within a month and more just by like, all right, it happens. It sucks. It's a little scary." - Caulen Foster