Add New Revenue Streams To Your Agency
Doing the work isn't the only way you can get paid.
If you say things like:
"I build websites"
"I create funnels"
"I build marketing strategies"
You are thinking and speaking like a DOer.
If that's all you thought you were it's time to change how you think.
You KNOW HOW to do.
Once you get that, you'll realize you have many more options on how to get paid.
In today's video, I'm going to show you the options you have to get paid for your know-how and add a new revenue stream to your agency.
Transcript / MP3
The fastest way that I've found to make your agency more profitable, more predictable grow and scale is by adding a new revenue stream to your agency. So in this video, I'm going to share a couple options you have in order to add this new revenue streams so that you can start getting paid without necessarily working more hours or nights or weekends, because we're going to get paid to think let's get it going. ...
Welcome back guys, Greg Hickman here with all firstname.lastname@example.org. And in this video, I want to break down the ways in which you could package up your expertise to add another revenue stream to your agency. Now, if you're watching this, you're likely right now, just getting paid for your service, your core service, you're probably delivering it done for you. One-on-one, it's probably mostly custom, and you might have a capacity constraint that is preventing you from making the money that you want. So that's where we were at. And we added a new revenue stream that was more leveraged that allowed us to serve clients without necessarily having to be as involved as we were in our done for you service. And that's what I want to share with you today and how you can start to think about that. Because the biggest challenge I find people have is understanding that they can actually make money and have a revenue source that isn't them doing the work.
Now, if you're new here, go ahead and click that subscribe button smash, that notification bell, because we released a new video every single Thursday, and I put together a little treat for you. If you stay till the end, I wrote a little ebook where I break down the 10 useful frameworks that we've applied to our business, and now over 300 other agencies to really make your agency more profitable and predictable. So if you stay till the end, I'll tell you how to get that. And, uh, I think you'll find it really, really useful. So let's dive in now. Maybe you're like some of the agency owners that I speak with that just can't wrap their head around how they're actually going to get paid for their thinking. And they say things like, um, but Greg, I build websites, me doing the work is the only way to package it.
And I'm here to tell you that that's wrong. Um, it's, that's just the way that you see it right now, because that's all you've ever done. It's sort of like in the book, the E-Myth where he talks about, you know, you got started in your, in your business as a technician. And if you want to grow a business, you need to become an owner. You can still have a business that does technical things, but you need to acquire new skills, like entrepreneurial skills that are different from you being a technician. So I'm here to tell you if you need to be reminded, whether this is new to you, or you need to be reminded that you're not just a doer doer, you're not hands to keyboard. And you need to reframe how you speak to yourself, how you communicate your value to the marketplace, your ideal prospects.
Because right now you probably say things like I build websites. I create marketing funnels. I write copy. And these are all things that sort of, sort of, these are all things that doer would say. But like I said said before multiple times, we need to get paid for your know-how. And when we go to add a new revenue stream, getting paid for our time, know-how is going to be more leverageable because we can help people get results with less of our personal time. And that's going to lead us to not sell, selling hands to keyboard because selling hands to keyboard is different than selling your thinking. And the way we talk about it is going to be different. The way you have to wrap your head around this is going to be different and selling your know-how gives you options though, beyond just the labor.
Because if you're like most agencies getting five, 10, 15, new clients tomorrow would break you. So you might need five, 10, 15 new clients a month in order to hit the goals that you would have for yourself to be able to pay yourself what you want to earn and get the help that you need on your team. But you can't physically do that because of your capacity problem. Well, you need more options. You can't just sell them the same thing because you don't have room for them in the same thing. So selling your know-how gives you options beyond just selling labor. So what are things that you could create right now with the experience that you have in your head that will allow you to make money without your degree, wrecked hours. Now, caveat, you're going to have to spend a little bit of time to create this thing.
So some upfront work, but once you do most of the heavy lifting, you can sell it over and over and over again. You can deliver it in a repeatable way. That's what we're talking about. You're not just going to like snap your fingers and have this new revenue stream. It can be simple, but you're going to have to put in a little bit of work upfront to then have new client after new client, after new client come in. And yeah, you get the results without it being tied to your direct labor and or maybe even all of your team's labor. So here's some things that you should be considering as this new revenue stream. First training you might be giving away training right now to some of your clients. You can package that training as, as a course, as a, you know, a half day workshop, you could actually create a complete DIY course.
You see people online courses, uh, being sold on, um, you know, all different sorts of marketplace, right? You can have a six week course. You can have a half day training, virtual workshop. You can package things up into a high ticket consulting program or a coaching program. You might have a book in you and want to sell a book. Maybe you want a membership or subscription. These are all rappers for you to put your expertise in and to sell your know-how that's it, the wrapper that works best for you is going to really come down to a lot of things that are customed to you, which is why when we have clients come to us, we chat with every single one of them, make sure that they're designing something that is unique to their needs and their goals. They then choose, you know, whether it's a half day workshop or a 90 day coaching program, or a, you know, a 30 day, you know, consulting, arrangement, whatever that looks like.
There are ways to package up your know-how. And here's the reality is just selling your brain is greater than selling your hands because you've put in a lot of time to get to where you're at. You know, a lot of things. And instead of saying, I build websites, you can say, I know how to build websites. You're selling the know-how. You know how to do a lot of things that can be taught to somebody else that you can walk somebody else through so that they can achieve the result that they would have maybe had if you were to build it for them or if they were to build it themselves. So I know some of you are sitting there thinking like this candy possible. So I want you to spare me. The, that won't work. There's no value in telling clients what to do. Those who can't do teach Greg, blah, blah, blah, blah, blah.
Like those are all myths period. And I know that because we've served over 300 agencies now to help them make this transformation, we've been doing it ourselves. When it comes to the whole selling done for you versus selling done with you versus selling DIY. What I've found to be true is that you, the agency owner cares more about the, how the logistics than the prospect. So you're hung up on how they're going to achieve the result. When most prospects really just want the result. Like if you could get them the outcome, they're not going to care necessarily how you get them there, as long as they get it and they get it in a reasonable timeframe and they feel that it was a good value exchange. So once you change your mindset around that, I think you're going to shift your beliefs and your quite frankly, your ability to sell a done with you program.
Now, when you raise the price of your core service, which you should do, when you introduce this new offering, you're going to be more selective with the people that you choose to do done for you or work with. But when you raise the price of your core service, like I said, you'll have other options for prospects who can't afford your direct assistance. So in most cases, what I've found is agency owners will usually sell projects that have all these bells and whistles say for 20 K. Then the prospect will come along and they'll say, Hey, I really need help, but I only have 10 K and the agency owner will give that client everything that they give for 20 K at the 10 K price point. And that leads them to increasing their capacity, their bandwidth, but not necessarily their margins. And often those are the types of clients that drain us.
And those are the types of clients that will break our agency. If we take on more of them over time. So what do we need to do? We need to sell them know-how. And we do that through the training, the workshops, the coaching programs. And so we need to get that stuff out of your head. Now, if you want to do that really quickly, first, you can check out the workbook that I mentioned earlier, the 10 useful frameworks, I'm going to talk through some key things in here, like the capacity conundrum and how that you need to start adding things that are more repeatable and not custom so that you can harness systems, the ability to solve a predefined problem with a predefined solution. So really the case for specialization and which things you need to systematize in your business first, as well as the different ways to get leverage inside of fulfillment.
So if you want to understand the ingredients of a hybrid agency, an agency that makes money not just for they're doing, but also by packaging up their know-how definitely click the link below in the description to get that workbook. I would love to know what you think of it. I would love to know what your biggest takeaway is from this video. So leave a comment below. What's your biggest takeaway when it comes to adding one of these new revenue streams, that's not tied to your hands to keyboard, and as you getting paid for your know-how, I hope you enjoyed this video. Uh, and I hope you are now thinking differently about how you can go about growing your agency and hitting the goals that you have for yourself, your own income, your team, and more. And, uh, I'll see you guys in the next