FT 005: Creating a Profitable Agency with Trajan King
Trajan King started his online career back in 1995. He has:
- Been involved with 15 startups.
- Advised major companies such as eBay, Cisco Systems, Oracle and IBM.
- Run two multi-million dollar companies, including an advertising agency that he rescued after joining as CFO and later becoming CEO.
Trajan shares a wealth of information in this episode, including the keys to a profitable agency and a tonne of detail about how he acquires clients.
If you have ambitions of starting your own agency, or are currently in the midst of trying to grow one, you will LOVE this episode. And if you are a freelancer or solopreneur, a LOT of the advice still applies.
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In this episode Trajan shares:
- How he went from being hired as a CFO for an agency struggling with profits to turning the agency around and becoming CEO.
- How to establish processes in place and why they are the key to successful growth (and the key to success even if you don't intend to grow).
- How he finds new clients for his agency: we get into the nitty gritty details of his entire sales funnel.
- How Trajan productizes his services and the huge advantages to doing so.
- The structure of Trajan's agency, and how he uses contracts and freelancers to rapidly expand contract his overhead based on workload [hint: payroll overhead is a killer]
- What allows contractors to stand out and charge higher rates, even in the toughest and most crowded marketplaces such as Elance and Odesk.
- Trajan's morning routine and the importance of "wanting to be working on what you are working on"
Books and Resources:
- The E-Myth Revisited: Why Most Small Businesses Don't Work and What to do About It: One of those fundamental reads for all entrepreneurs, E-Myth is your handbook to building the processes that your business needs.
- The Goal: A Process of Ongoing Improvement: A story-telling approach to on-going process improvement.
- The Four Hour Work Week: The most recommended book on this show. Learn how to get maximum leverage from your time and earn your freedom.
Connect with Trajan King:
- Invincible Startup Community: Trajan's latest venture, helping startups to grow successfully.
- Invincible Robots: Trajan's web agency.
- Follow Trajan on Twitter
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