don't start an SMMA in 2024
Summary
TLDRThe speaker, a former agency owner, advises against starting an agency in 2024 due to intense competition from established players and newcomers alike. They argue that new agencies struggle to deliver services and compete on ad spending. Instead, they recommend creating content online that is in-demand, authentic, and true to one's passions. By consistently posting for several months, one can build an audience and monetize through product sales. The speaker emphasizes that the only competition is oneself, and content creation is a scalable and authentic way to succeed online.
Takeaways
- 🚫 Starting an agency in 2024 is not recommended due to increased competition and challenges in service delivery.
- 💼 The speaker, a former agency owner, shut down their business due to difficulties in competing with established players and new entrants.
- 🤝 Agencies can be profitable, but success requires persistence, effective outreach, and a compelling offer to clients.
- 📈 Competition is fierce with veterans in the industry who have more resources and a proven track record, making it hard for newcomers to compete.
- 🛠 Learning service delivery is crucial and cannot be effectively acquired through free online courses alone.
- ❌ Avoid starting an agency without a proven ability to deliver results, and do not offer money-back guarantees if you lack confidence in your service.
- 🔗 The lack of scalability in an agency model is a significant drawback, limiting the number of clients one can effectively serve.
- 💡 Instead of starting an agency, the speaker suggests creating content online as a more authentic and scalable business model.
- 🎥 To succeed in content creation, one must produce in-demand content that is true to oneself and consistently post for several months to build an audience.
- 💰 Once an audience is established, selling products or services to them becomes feasible, providing a legitimate way to generate income online.
- 🌟 The speaker emphasizes the uniqueness of each individual and the potential for success in content creation, as the only real competition is oneself.
Q & A
Why does the speaker advise against starting an agency in 2024?
-The speaker advises against starting an agency in 2024 due to increased competition, difficulty in service delivery, and the inability to scale the business effectively.
What is the speaker's experience with running an agency?
-The speaker has run a profitable agency for multiple years, making five figures on the internet, but has recently shut it down due to various reasons.
What are the main competitors for a new agency according to the speaker?
-The main competitors for a new agency are both newbies who are just starting out and industry veterans who have been in the space for a decade or more, with more resources and better results.
Why does the speaker believe that offering a money-back guarantee is a bad idea for a new agency?
-Offering a money-back guarantee is a bad idea because if the agency can't deliver results, they will end up working for free and won't be able to attract clients who will pay for their services.
What is the speaker's view on the scalability of an agency business model?
-The speaker views the agency business model as having terrible leverage and poor scalability, as it can only help a limited number of clients at a time due to the time-consuming nature of service delivery.
What alternative business model does the speaker suggest instead of starting an agency?
-The speaker suggests creating and posting content on the internet as an alternative business model, which can lead to building an audience and selling products to them.
What type of content should one create according to the speaker?
-The speaker recommends creating content that is in demand, not already available, and true to one's own passions and interests.
How long should one consistently post content before seeing results, according to the speaker?
-The speaker suggests posting content consistently for roughly 3 to 6 months before starting to build an audience and see results.
What is the speaker's opinion on the authenticity of content creation as a business model?
-The speaker believes that content creation is an authentic business model that allows individuals to help others on the internet in a way that is true to themselves.
Why does the speaker argue that only competing with oneself is a good thing?
-Competing only with oneself is a good thing because it allows individuals to focus on their unique strengths and passions, rather than being hindered by external competition.
What is the key to success in content creation according to the speaker?
-The key to success in content creation, according to the speaker, is to make content that is in demand, unique, and authentic to oneself, and to be consistent in posting.
Outlines
🚫 Starting an Agency in 2024: A Cautionary Tale
The speaker, a former agency owner, advises against starting an agency in 2024 due to increased competition and the difficulty of standing out. Despite having run a profitable agency, they highlight the challenges of competing with established players and newcomers alike. The speaker emphasizes the importance of service delivery and the inability of free online courses to teach it effectively. They also warn against offering money-back guarantees without being able to deliver results, which could lead to working for free and failing to attract clients. Lastly, they point out the limited scalability of agencies due to the time-consuming nature of service delivery and client management.
🎥 Embracing Content Creation as an Alternative to Agencies
The speaker suggests that instead of starting an agency, aspiring entrepreneurs should consider content creation as a viable online business model. They argue that by producing in-demand, unique, and authentic content, creators can build an audience and eventually monetize it through product sales. The speaker emphasizes the importance of consistency and aligning the content with one's passions to ensure long-term success. They also mention that content creation allows for greater personal expression and competition only with oneself, rather than with a crowded market of agencies. The speaker encourages viewers to learn from their experience and to explore content creation as a potentially more rewarding and scalable business opportunity.
Mindmap
Keywords
💡Agency
💡Competitive Space
💡Service Delivery
💡Money-Back Guarantee
💡Leverage
💡Content Creation
💡Authenticity
💡Info Products
💡Scalability
💡Audience Building
💡Monetization
Highlights
Starting an agency in 2024 may not be a good idea due to increased competition and challenges in service delivery.
Agencies can be profitable, but the speaker's own experience led to shutting down their agency for several reasons.
Competing with established players in the industry who have more resources and experience can be difficult for newcomers.
Free online courses may not be sufficient to learn the intricacies of service delivery in an agency.
Offering money-back guarantees without being able to deliver results can lead to working for free and losing clients.
Agencies have limited leverage due to the time-consuming nature of service delivery and client management.
The speaker suggests that starting an agency may not be the best path to success in the current market.
Instead of starting an agency, the speaker recommends creating and posting content online as a viable alternative.
Content creation should focus on in-demand topics that are not already saturated with similar material.
Authenticity and passion are key to creating content that will attract and retain an audience.
Consistency in posting content is crucial for building an audience and establishing a successful online presence.
Once an audience is established, selling products or services to them becomes more feasible and profitable.
The speaker emphasizes the importance of being true to oneself and leveraging unique qualities in content creation.
Competing with oneself is the main challenge in content creation, rather than external competitors.
Learning from the mistakes of others, such as the speaker's own experience, can help avoid pitfalls in business decisions.
Content creation is presented as a more accessible and scalable business model compared to running an agency.
The speaker encourages viewers to consider content creation as a means to achieve financial success and freedom.
Transcripts
so if you clicked on this video you're
probably planning on starting an agency
in 2024 and not to be the bear of bad
news but I don't think that's a good
idea and this is coming from somebody
who ran an agency for multiple years ran
a profitable agency that made me five
figures on the internet and has recently
shut down my agency this year for a few
reasons that I'll go over in this video
so I don't think an agency is a bad
model by any means agencies are
profitable which I'm proof of that and
they're not impossible to start and I
thought this for the longest time but
when you stick with it and you actually
do Outreach and you TR to acquire
clients and you create a good offer you
can sign clients but that being said
here's why you should not start an
agency in 2024 with the likes of Eman
godi
and all the other gurus on the internet
the space is more competitive than ever
before and you're not only competing
with all of these newbies these people
who watch this free content and they're
like oh I'm going to make so much money
online no you're competing with a
players people have been in this space
for a decade or more people who have
onboarded hundreds of clients have
really good case studies have really
good results and they have more money to
spend on ads to acquire clients than you
you cannot beat these guys I tried to do
it for 2 years and they eventually
squeeze me out of business and quite
honestly the biggest reason isn't that
the biggest reason is that you don't
know how to perform service delivery and
you watching free courses online isn't
going to help you figure that out
there's two ways to learn Service
delivery a pay somebody who's really
good at it to teach you and B you spend
time and money running ads for yourself
or somebody else and probably waste a
lot of money because you fail and then
over time you eventually get good at now
if you cannot get your clients results
do not start an agency and start
guaranteeing them that you will get them
a certain amount of results why is this
a bad idea if you can't get them results
but you offer them a money back
guarantee first of all you're going to
end up working for free and second of
all you're not going to sign any clients
that will pay you because your money
back guarantee is just impossible for
you to achieve cuz you don't know what
you're doing the last reason that you
should not start an agency is because it
has terrible Leverage you can only help
a certain amount of people at a time
because Service delivery scaling an
agency booking calls hopping on sales
calls it takes time and you can only
work with a certain amount of people
depending on how big your team is and if
you're just starting out it's probably
just you so you can only honestly work
with like maybe 5 to 10 clients Max this
is terrible leverage in a business you
can't scale it past that unless you hire
people which you will never get to that
point because you cannot win in this
space it is so hard and that's what you
guys don't understand see these people
are telling you to start a business
telling you that you'll make so much
money online if you do it and you fall
for it but they're selling you exactly
how to start this business so obviously
they're going to tell you to start the
business because if they convince you
that it's a good idea maybe you'll buy
from them have you ever thought of that
have you ever thought that
hey maybe Eman doesn't actually have my
best interest at heart and instead he
only wants to make money you ever
thought of it I certainly have so if
starting an agency is out the window but
you still want to make money what do you
do this is what you do instead of
starting an agency to make $10,000 a
month on the internet in 2024 instead
you record content and you post it on
the internet now you can't just record
any content you have to record content
that is in demand content that isn't
already out there and content that is
true to yourself and your passions this
is the only way you will succeed because
if the content isn't in demand nobody
will watch it but if the content is
already out there people have already
heard it and they won't give you the
time of day and lastly if you're not
interested in making the content you
won't make enough content and stay
consistent enough for a long enough
period of time where your channel
actually takes off so what you need to
do is you need to post consistently for
roughly 3 to 6 months and then you'll
start to build an audience and then
you'll start to get the ball rolling and
you'll start to believe in your business
and then that's when the magical thing
happens you start to sell a product and
guess what since you have an audience
people buy it and they send you money
over the internet in return for your
value that's how you start a real
business guys you help people on the
internet in a way that is authentic to
you if you think running a marketing
agency or whatever type of smma is
authentic to you go ahead give it a try
if you scale it to 10 100K a month man
DM me on Instagram and cuss me out and
tell me how stupid I am but I don't
think you'll do that because if I can't
do it and I have skin in the game for
multiple years I know how to run ads
I've ran ads at 20 plus X row ads like I
have got clients unbelievable results
and they have still left me because they
don't think it's good like you guys
don't understand because you haven't
actually tried please the wise man
learns from the mistake of others learn
from my mistakes and start a business
model that you can actually win at there
is only one of you in the world only one
only one person who looks like you talks
like you thinks like you creates content
the same way you do that's why this
space is amazing you only compete with
yourself the only person you're
competing with is your subconscious mind
that tells you hey I should go get on
Tik Tok hey I should go get McDonald's
hey I should go text that girl hey I
should go to the bathroom and go you
know that's who you're competing with
you're only competing with yourself if
you take action which you know what to
do you know how to start a Content
creation business because you're on
YouTube you've probably watched YouTube
for many years of your life you know how
to edit videos you probably have a
camera to record videos on but you still
don't do it but what if I told you that
this is your way out of the Matrix this
is your way to make however much money
you want to and this is the same way
that all your favorite group R online
actually make money Eman hasn't run an
agency in multiple years but he's richer
than ever why because of content he
makes content he has a massive audience
and he sells info products to them
that's the key I hope you guys really
take something away from this video that
there is still countless ways to make
money out there online but the best one
is right in front of you and you're
watching me do it right now and if
you're watching me do it some stupid 20
21-year-old kid in their parents'
basement why can't you do it you should
really ask yourself that question you
should really think about it and Ponder
on why you're infatuated with starting
an agency when there is a much better
business model out there for you to do I
hope you guys take action and I hope you
enjoyed this video I'll see you in the
next one
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