I Started A Business for £1k and Make £37,000 a Month
Dec 29, 2023
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The podcast discusses the biggest wins, agency revenue growth, lessons from hiring, biggest failure, removing mediocrity, moving at pace, content as a superpower, personal news, and a message for the future. The hosts emphasize the importance of producing good work, hiring talented individuals, and investing in the hiring process. They also discuss the importance of goals, team building, trusting your gut, protecting your business, eliminating mediocrity, acting at pace, the power of content, personal learning, celebrating success, personal milestones, and pursuing dreams.
Consistently delivering excellent work and building strong client relationships can lead to significant business growth without relying on complicated lead generation systems.
Investing time in the hiring process and building a team of talented individuals who consistently deliver exceptional work can transform an agency and establish a sense of unity and camaraderie.
Deep dives
Revenue growth and the power of referrals
The agency's recurring revenue has grown from zero to $37,000 a month in just 18 months, a significant achievement that highlights the ease of building a successful business when good work and results are consistently delivered. The growth has primarily been driven by referrals and expanding services within existing accounts, rather than relying on complicated lead generation systems. This emphasizes the importance of focusing on providing value, producing excellent work, and building strong client relationships.
The significance of talent and hiring slow
Hiring talented individuals and investing time in the hiring process has been transformational for the agency. By hiring slow and diligently verifying skill levels, they have been able to build a team of superstars who consistently deliver exceptional work. The goal is to transition from having generalists to specialists and experts, ensuring that everyone in the team is world-class at what they do. This focus on talent has not only improved the quality of work but has also led to a sense of unity and camaraderie, establishing the agency as a proper team.
Lessons learned from failure and trusting your gut
Failure is inevitable, but it provides valuable lessons. Acting quickly and trusting your gut instincts are important qualities when dealing with problematic situations. While it is essential to give people a chance to turn things around, it is equally important to have contingencies in place if improvement does not occur. Trusting your gut and making tough decisions, even if they involve personal relationships or friendships, is crucial for protecting the business and aiming for excellence. The agency's goal for the future is to eliminate mediocrity and strive for world-class performance in all aspects.
An end of year update from me.
I hope you enjoy and get some value! Let me know in the comments.
0:00 Biggest wins of the year
01:20 Agency Revenue Growth
03:15 Lessons from Hiring
04:50 Biggest failure
06:50 Removing Mediocrity
07:25 Moving at Pace
09:00 Content is a Superpower
12:00 Personal News
13:10 A message for YOU in 2024
Get FREE business breakdowns from Callum: https://callummcdonnell.substack.com/
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Work with Callum: https://www.7xcontent.com/
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