If you want to create your own business, I believe the best thing you can do is start by building an agency.
The benefits of owning an agency business are endless…
learn foundational skills like budgeting, management, invoicing, etc
you get paid to learn and improve upon a valuable skill (where else does that happen)
you build a reputation in an industry
you get to build an online brand for yourself
agencies are (for the most part) instantly profitable
not a lot of upstart costs
However, agencies can also create huge problems for business owners.
One of the common pitfalls for agency owners is burnout. It’s not uncommon for people to end up working 60 - 80 hours a week, being stressed out, sacrificing sleep and health and not getting any additional profits for their sacrifice.
That’s because people don’t know how to stop working in the business and start working on the business.
A successful agency is built around systems.
For the last 6 months, I’ve been slowly chipping away at an extension of my company. It’s called Agency Clarity.
My mission is to take advantage of an underserved market and help upstart agencies scale their time, increase their profits, and learn how to “use their agency as an asset.”
There’s a lot of work left to do. I’ve moved over the appropriate content from Tim Stodz and redirected all the links so it’s already driving great traffic. But there’s lots more to do on the brand, the messaging, the products, etc.
My goal is $8k a month by June.
Check it out and let me know what you think.