Listen & subscribe on the platform of your choice
Featuring: Karl Sakas, Sakas & Company
Get ready to supercharge your agency's growth! In episode 071, I sit down with Karl Sakas, a seasoned agency veteran and the mastermind behind Sakas & Company, where he helps agency owners "work less and earn more." We dive deep into the art of expanding your agency by introducing new services. Karl shares his expert insights on the telltale signs that it's time to innovate, from declining demand to shrinking profit margins, and why staying ahead of client needs is crucial for long-term success.
We explore the strategic factors you must consider before making the leap—like analyzing market demand, understanding industry trends, and ensuring you have the right resources in place. Plus, we discuss the importance of evaluating your current offerings, identifying what’s no longer serving you, and knowing when to pivot. Karl also reveals common pitfalls to avoid and shares actionable advice to help you navigate the challenges of growing your agency with confidence.
Don't miss this episode packed with practical tips and insider knowledge to help you take your agency to the next level!
Key Takeaways
• The need to add new services may arise when existing services become less popular or profitable, or when new industry trends emerge.
• It is important to be forward-looking and reserve time to explore new services and trends.
• Before adding new services, consider stopping outdated or unprofitable services.
• Evaluate the demand and supply of new services, and ensure that there is a profitable supply of people to fulfill the work.
• Avoid overcommitting and consider the potential pitfalls, such as fixed bid commitments for new services.
• Pay attention to existing clients and their needs when introducing new services.
• Don't let problems fester in your agency; address them head-on to prevent them from getting worse.Chapters
00:00 Introduction and Background
02:48 Topic: Growing an Agency by Adding New Services
03:13 Recognizing the Symptoms and Need for New Services
06:38 Considering Demand, Supply, and Industry Trends
09:15 Strategically Evaluating Existing Services
13:00 Avoiding Pitfalls and Overcommitment
15:21 Listening to Clients and Addressing Their Needs
Karl Sakas helps digital agency owners ‘Work Less’ and ‘Earn More’… while rewarding their best employees. Drawing on his background in agency operations, Karl has personally advised hundreds of agencies on every inhabited continent. An international speaker, he is the author of three books—including 'Work Less, Earn More'—and more than 400 articles on agency management. When he’s not helping clients, Karl volunteers as a bartender on an antique train.
Contact Karl:
Articles: https://sakasandcompany.com/adding-new-services/
Freebies: https://sakasandcompany.com/free-resources-for-agencies/
Book: https://worklessearnmorebook.com/
Workshop: https://sakasandcompany.com/agency-lead-gen-training/