When you are entering a very competitive market, such as digital marketing, you will face tons of competition daily. Most new agencies don’t last five years, but why is this?
The truth is that the best way to avoid failing is by working hard.
Many agency owners sell the dream of the 4-hour workweek, of working from anywhere in the world. But it just doesn’t happen that way. Starting a digital marketing agency requires effort and, at the beginning, working beyond normal hours to succeed.
Factors That Can Drive You To Failure
Running a digital marketing agency is difficult. Many challenges will surface, especially when you’re starting out. Some mistakes agency owners often make include:
- Not working enough hours
- Not investing in human resources
- Lack of product knowledge
- Having only money-centric goals
- Poor management skills
- Not giving enough value for your clients
- Not building relationships with clients
- Not having a strong culture in your agency
Your digital marketing agency requires many factors to grow. If you’re not putting in the time and passion, you won’t scale.
The lack of interest, no interest in the product, and lack of sales skills is keeping digital marketing agencies from growing as they would want to. In their long-term and value-based goals, they will fail, because they’re not focusing on the right things.
How Values Can Change Your Agency
If your digital marketing agency is not currently focusing on values such as excellence, commitment, or building strong relationships, and instead you’re only focusing on money-based goals, you will fail. Implementing values into your digital marketing agency’s culture has proven to be one of the best ways to keep your employees focused and happy.
To start implementing values in your organization, you need to start from the core. Since your core is your employees, you need to hire people that are focused on continuous improvement and learning.
Grow So You Can Help Others Grow
Make sure that everything you’re preaching at your company, you’re also practicing.
If you want to grow leaders, you have to take an initiative and develop your own leadership. If you want your employees to know and understand the product well, you need to also understand it. Your employees will feel comfortable learning with you and that will make your agency thrive, even when tough times come around.
Agency owners need the help and advice of professionals. If you’re having doubts and you want to discuss them with other digital marketing experts, you should join our exclusive Facebook community and learn how to scale past 5 figures per month.