How To Set Yourself Up for Success as an Agency Owner or Founder of a Service-Based Business

1/ Set and guide the culture

Early on, this starts with the founder and who they bring on onboard as first hires. So be sure that the first hires understand what they are signing up for and are positive, integral, energetic, and good at what they do.

2/ Make yourself redundant

Set processes and systems, so the work does not stop waiting for inputs. Automate what can be. For everything else, bring on people so you can work ‘on’ the business and not ‘in’ the business.

3/ Continuously build the talent pipeline

For a growing or growth-focused business, talent is like oxygen. So make hiring your focus, and spend time meeting people and asking for referrals to have talent readily available at all times. You can systemize this by creating a free course or something that trains/primes potential candidates.

4/ Ensure that there is money in the bank 

You need cash to invest in ads and to pay for other growth-related investments, including payments for top talents. Make sure money is always in the bank by focusing on cash flow and profit margins.

5/ Be the no. 1 ambassador for the brand

Look at how Elon Musk does it for his businesses or how Trump used social media leading to his election as the US President. It does not matter whether you like them, but their brand helps their businesses significantly. This will help you build a talent pipeline and attract investment if there is a need for that.

6/ Find time to think and learn

Don’t be so busy that you have no time to think and learn. Put both on your calendar so you can’t ignore or forget them.

What else would you add?

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