Stuck at 15k income, can't scale up

[decanl]

Hey guys, as maybe few of you might know I run a music PR Agency it's been a huge success and we have destroyed all of our goals.

I would want to ask a question for the more experienced guys, how did you scale it up when you reached 15-30k monthly income?
I feel very stuck and can't pass the 20k mark. The business is running very smoothly no hiccups, no big problems, nothing like that, however me and my partner can't figure out the way how to double it up.

Im just looking for a general advice from someone who has experience or has been in similar situations.
Really just looking to talk to someone.

What advice would give?
Should I hire mentors?


P.S don't PM me, I won't answer to dead end stupid questions.

 

[MisterF]

Moved to Business & Tax advice as you're looking for business advice.

First question is, forget turnover, what is your profit margin like?

 

[GenesisOne]

Your question is too vague.
Do you think that someone that does the same as you do who has faced the same limitation is going to tell you how he/she solved it?
Rephrase your question and we may give you some ideas.

 

[spazzumes]

If you can’t scale then client acquisition is your problem...how do you acquire clients now? Are you doing everything you can? Perhaps further developing your current strategy will help

 

[decanl]

Moved to Business & Tax advice as you're looking for business advice.

First question is, forget turnover, what is your profit margin like?

Thanks, well in general I was just making a general discussion. I have 85% profit

Your question is too vague.
Do you think that someone that does the same as you do who has faced the same limitation is going to tell you how he/she solved it?
Rephrase your question and we may give you some ideas.

You might be right that my question is phrased the wrong way, as I was just trying to make a discussion like topic where people who has reached the same amount of income per/month and has surpassed it, I do understand that it is totally different for every single person. However I believe that there is some key points that helps to put your mindset in the right direction.
Me personally I think that I am stuck in comfort zone as all of my processes are automated and I have to spend less than 1-2hours per day.

If you can’t scale then client acquisition is your problem...how do you acquire clients now? Are you doing everything you can? Perhaps further developing your current strategy will help

My main source of client acquisition is Instagram and Google as I am ranking in top 5 for all main keywords. I rarely run paid ads to acquire more clients as me and my small team feels comfortable with the load we are receiving currently.

I don't really know what I am looking as far as in answers, maybe a reality check?! I'm not sure.
I simply want to discuss with like-minded people about how they overcame this, as I mentioned above I believe that im stuck in comfort zone and those who are in comfort zone you know that its kind of hard to realize it and get out of there

 

[Roger Marquez]

when you reached 15-30k monthly income?

I would like to be "stuck" here too

 

[meannn]

Sorry but if getting 20K per month and cant scale it from that, you are the problem.

What i do is, i multiply the method/work which earns me. For example create new company and make others work for it in similar.

 

[Makemeproguys]

How much currently you making as your personal profit per month after taxes? And which country you from?

 

[HeXeR]

Sorry but if getting 20K per month and cant scale it from that, you are the problem.

+1

I was in similar situation. I guess at some point it's really the question of motivation. Are you still hungry or are you enjoying comfy life?

I'm not in SEO business but for example you know if you really wanted you could have all top 5 results for all keywords and if that's not enough you could start new business. Diversity is always good.

 

[spazzumes]

I’m confused, you don’t want to acquire more clients because you and your team are comfortable with your current workload, yet you can’t figure out why you can’t break the 15-20k mark?

I think you answered your own question mate.

If you don’t want new clients, upsell additional services to your current clients. If you’re comfortable where you are, then theres no reason to break the 15-20k mark

 

[berkay1907]

Diversity and Meann suggested make others work for you would be the simplest answer. For example if you are a SEO company you can try adding Social Media stuff to you services. Or if you are stuck in a city and can't expand you could go with finding frenchisers from other cities and maybe teaching them how your services can be sold and it could be worth working for you.

On the other hand if your business is going smooth you don't have any problems with your clients etc. you can just be happy about what u got and just live your life. Making 100K may not make u happy as u think it would. More workload, more problems can effect your work and daily life.

 

[sysco32]

I rarely run paid ads to acquire more clients as me and my small team feels comfortable with the load we are receiving currently.

I believe this might be your problem.Not that you don't run paid ads ,but the fact that you are comfortable with the workload.You need to push the boundaries and not be comfortable.Like they said before: make another company and let somebody run it for you,with minimal supervision.
Or just run ads and employ extra people to handle the load.Never get comfortable...

 

[GoGuerilla]

Start looking for external services you can start up selling to your clients. Whatever you are doing now there is likely more you can be doing!

I've also recently moved into the music PR business so I'd be interested to hear your offerings to see what I can offer my clients.

 

[Stuffedegg]

I am as far from an expert as there may be in this forum. But this one part of the whole thread stood out to me...

I think that I am stuck in comfort zone as all of my processes are automated and I have to spend less than 1-2hours per day.

You spend less than 1-2 hours a day to make 80% of a 30k/mth turnover?
I am working as much as I can to make 80% of 300/mth turnover.

Perhaps go back to basics. Branch your company out, add some diversity into your business. Instead of just music, do small time movies or something. You obviously have the knowledge, just not the will to push!

 

[BlogPro]

P.S don't PM me, I won't answer to dead end stupid questions.

First off, that is very passive aggressive and cocky at your end, given that you're the one with the problem.

Now to your problem -

1. Rechristen Your Goals - You claim to have destroyed all your goals. If that's the case, you should be at the drawing board rechristening them. What were your earlier goals? Get 20 clients, paying $1k a month? How about you look to acquire 20 more now? Reset the counter. You're comfortable with that number. You've attained it once. You can do it again.

2. Take a look at Horizontal Growth - Is the above a problem for you? Clients are scarce? You don't expect a vertical growth anymore? Take a look at growing horizontally. You have an agency - for musicians. Can the same business models be applied to other creative personnel as well? Authors? Composers? Painters?

3. Explore New Market Demographics - You've established yourself in the current market. How about scaling the wall? You've got US clients? Try Canada.

4. Take what little you have and reinvest in other business models semi-relevant to your niche - First off, your margins are insane. I run a pretty decent sized agency and on a good quarter, I'll see a 35% EBITDA. So you have a comfortable margin for an agency. What this also means is you have decent capital to reinvest. Even though, by numbers, $15,000 is too little. But by percent share, it allows for a decent amount of reinvestment. Cut down your take-home as founders and use the money to either market your services to larger clients or invest in a segregated model that doesn't cannibalize or dilute your existing brand.

5. Track your KPIs and Metrics - I have no idea how you're doing at the management end. But a scaling-wall is usually a result of poor management. Do you have your KPI metrics in order? Do you have insights on customer acquisition? Do you have employees? Does their output commensurate their salary? If no employees, as founders, does your work commensurate your take-homes?

6. Company Savings - How much have you saved up as a company? I hope one of your goals was to have a decent cash surplus. Take a look at that. If not, start building up an agency fund and then look at points 2 through 4.

7. Start Closing - ABC! Always be Closing! ALWAYS BE CLOSING. Why are you not closing more clients? And how did you score your first set of clients? What happened between then and now? What went wrong?

//

These are just some points off of the top of my head, without knowing you or your agency. So take them with a grain of salt.

 

[decanl]

First off, that is very passive aggressive and cocky at your end, given that you're the one with the problem.

Now to your problem -

1. Rechristen Your Goals - You claim to have destroyed all your goals. If that's the case, you should be at the drawing board rechristening them. What were your earlier goals? Get 20 clients, paying $1k a month? How about you look to acquire 20 more now? Reset the counter. You're comfortable with that number. You've attained it once. You can do it again.

2. Take a look at Horizontal Growth - Is the above a problem for you? Clients are scarce? You don't expect a vertical growth anymore? Take a look at growing horizontally. You have an agency - for musicians. Can the same business models be applied to other creative personnel as well? Authors? Composers? Painters?

3. Explore New Market Demographics - You've established yourself in the current market. How about scaling the wall? You've got US clients? Try Canada.

4. Take what little you have and reinvest in other business models semi-relevant to your niche - First off, your margins are insane. I run a pretty decent sized agency and on a good quarter, I'll see a 35% EBITDA. So you have a comfortable margin for an agency. What this also means is you have decent capital to reinvest. Even though, by numbers, $15,000 is too little. But by percent share, it allows for a decent amount of reinvestment. Cut down your take-home as founders and use the money to either market your services to larger clients or invest in a segregated model that doesn't cannibalize or dilute your existing brand.

5. Track your KPIs and Metrics - I have no idea how you're doing at the management end. But a scaling-wall is usually a result of poor management. Do you have your KPI metrics in order? Do you have insights on customer acquisition? Do you have employees? Does their output commensurate their salary? If no employees, as founders, does your work commensurate your take-homes?

6. Company Savings - How much have you saved up as a company? I hope one of your goals was to have a decent cash surplus. Take a look at that. If not, start building up an agency fund and then look at points 2 through 4.

7. Start Closing - ABC! Always be Closing! ALWAYS BE CLOSING. Why are you not closing more clients? And how did you score your first set of clients? What happened between then and now? What went wrong?

//

These are just some points off of the top of my head, without knowing you or your agency. So take them with a grain of salt.

This hit me. It really gave that hit from the inside to get my shit together and restructurize everything

 

[DigitalCity]

YOU answered YOUR own question/discussion.

YOU are stuck in YOUR comfort zone.
YOU want to make MORE money...GET OUT...of YOUR comfort zone...DUH...Get your hustle on and grind. Simple answer.

 

[deal with it]

play crypto game

 

[IamNRE]

Hire a consultant. Probably one that deals with funnels and systems and growth.

 

[Illicitus]

First off, that is very passive aggressive and cocky at your end, given that you're the one with the problem.

Thank you for pointing the elephant on the room. OP was deserving that note.