What to Do When Your Agency Hits a Plateau

By | August 14, 2019

In this clip, we’re going to talk about what you should
do when your agency hits a plateau, but before we do, if you’re on youtube, don’t forget to hit the subscribe button
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personal growth too and things like that. All right,
so let’s talk about this. Here’s what you should
do in the very beginning, and I recommend reading this book. It’s called what got you here
won’t get you there. In the past, what I’ve looked at is when
my agency has hit a plateau, oftentimes it’s because I
don’t know what I don’t know. When I first took over the agency and
I took over my agency single grain, first thing that happened was I
joined a group called entrepreneurs organization, and in the group
you have seasoned entrepreneurs. They’re all doing over seven figures
a year and everyone does things differently. And at the time, I was
the youngest person in the group. I think I was maybe 26 years old
or so. Basically I was getting, I was downloading a lot of information
from people because what was going on was my business was failing. Um, I took it over when I was a failing
business and I made it fail even more. I was basically in disaster mode. And
yeah, I mean, I didn’t just hit a plateau. I mean, I hit a plateau and I
was going straight down. Um, so I was jumping off a cliff basically. And so at that point, what happened was I talked to one of
the guys that I knew in the group, his name is Alex. And, uh, you know,
he gave me some insight. He said, look, you’ve gotta be looking at your
cashflow. You gotta be doing, uh, looking at your cashflow forecast,
things like that. You gotta be, here’s what I do, here’s
where I go crazy. If you know, we’d have enough cash in the bank,
here’s all the tactics that I do. So one of the things I do when
I hit a plateau is, you know, talking to people that have already
been there, they have the experience, they have the knowledge, and then the,
they’re willing to share it with you. So it could be a mentor, it
could be a peer group like this, but go out there and, and
try to seek help, right? There’s other groups like
Young Entrepreneur Council
that you can join. Um, and then you can talk
to the people in there. And then people often make introductions
for you because what you do, what you need to do is when you look
at things that are going poorly, like everything was going poorly. I
was losing, I was losing employees, I was like, God, we had trouble generating leads and I
didn’t really build any rapport with anyone. I shut the, I
shut the office down. I, I made like a million mistakes
because I just didn’t know any better. And what happened there was, you know,
once I got to talking to a few people, it’s like, okay, you need to do it
this way. You need to do it this way. You need to do to this way. And from
that I was slowly able to right the ship. So oftentimes in in your company, what’s what’s gonna happen is let’s
say you hit a plateau, let’s say, um, let’s say you are the director or let’s
say you’re the, you’re, you’re like the, the producer, the video producer on the team and you
are in line to become the director of video and you know, that’s what
you’ve been promised right? Now what happens here is
if you are unable to, uh, from a business perspective, you look
at that person, you say, okay, um, how’s this person doing in
terms of, uh, hitting numbers? How’s this person doing in terms of,
um, you know, building just in general, like being an asset to the team, right? And you have to look at things
from a sports team perspective. When you look at a sports team, like the NBA or the soccer
soccer teams or the NFL, what happens there is even the
best players, they get cut. Even the players that have been
with the team for the longest time, they get cut because they
can’t perform anymore. Or what happens is they end up being
relegated into a reserve role and then someone, they ended up hiring some fresh talent
or someone that’s been there already. Someone that’s very experienced. So good example of this would be Anthony
Davis bringing Anthony Davis to the Lakers. They had to trade three of
their really promising stars, um, or the young corps and then he traded
I think three first round picks. So basically in sports they’re giving
up a lot to get this one player under their play. They’re paying
this one player a lot of money. And so what happens here is
when you look at a company, a company is a high performance sports
team. It isn’t supposed to be an, even though I tried to make sure
that, you know, people are very happy. You got to make sure that
it’s about the business first. And it’s not about building a family
because you already have a family. You already have friends, right? You’re not here to go to your day
to day and to build another family. So what you’ve got to do here
is you’ve got to focus on, okay, what is going to help us
get to the next level? If we’re constantly hitting a
wall, who do we go to for help? Whether it’s contract help, maybe it’s temporary help
like a consultant or who
do you go to for fulltime help? Right? Who can you bring in full time to help
nurture and mentor the People on your team? Now, here’s the problem. When you
do that in the NBA or in soccer teams, for example, if one star is
there and they find another, a star comes in and kind
of um, uh, overtakes them, how do you think they’re going to feel?
They’re not going to feel good, right? So now you have to deal with
the human element. Uh, the, the, the part of this where you have an honest
conversation with, with the people, uh, on your team and say, okay, look,
this is what’s going on right now. And um, you know, you can either come along for the ride
or I can help you with something else. I can help you find something else. Ideally you should do that cause you
care about your people, right? Uh, but at the same time, you gotta
you gotta Care About Your Business. This is why doing a business is so risky
because you are taking a risk and you have to deal with things like
this. You have to deal with it. How do you appease the person that’s
been with you for a long time and what do you do next? Right? Who Do you go find that so that these are
two jobs in one and you have to do it. You’d have to make sure you do a good
job and you have to make sure the new person fits too. And it makes sure everything’s
crystal clear on what’s going on. The third thing you can do is think about
all the things that you’re doing right now. Okay? So what we do is an
exercise called start, stop. Keep. Ideally I’d like to focus on the stop
cause you’re probably doing a lot of different things right now. What’s actually not driving
the most revenue for right now. And then also what you start doing. One of the things that you’re seeing
out there that you’re drawing influence from that maybe you
should start doing now. What are the things that you should
keep doing? Like for example, videos like this. We’re going to keep doing videos
like this cause they’re great. We’re going to keep doing the podcasts, we’re going to keep doing the blog because
those are the things that are proven to, to work for us. It’s more important if you look
at the the top CEOs in the world. It’s more about focusing, it’s more
about taking the things away, um, that are not working and, and focusing
on the things that are actually working. Um, and then continue
to, to go from there. Um, the other thing I’ll add too
is maybe this is number four, is if you think about how big
businesses are, are, are run, they’re oftentimes just trying to
protect what they currently have. Now if you’re like, you’re,
you’re most, most of us, we’re going to be smaller
businesses, right? So oftentimes there’s going
to be a lot of, um, chaos. There’s gonna be a lot of
different things going on. So you have to learn how to straddle
the line between jumping around from maintaining like you’re in defense
mode versus like, you know, being on the attack, making sure that
you are trying new things, right? So you know that that’s kind of more on
the chaos. And if you’re too far on, on, uh, on the defense event, what’s
going to happen as a business? Not gonna grow that much anymore. But if you’re too aggressive
trying to do too many things, you’re going to drive
your people nuts, right? So you got to focus on and kind of,
you know, straddling the middle, and then maybe sometimes when it’s
war, you focus on trying to, um, try to maybe defend a little
bit. And sometimes when it’s, um, when it’s in peacetime, maybe that’s
when you tried to more aggressive things, right? So think about how you can, you
know, dial things back. Uh, from there. Number five is not just
about trying, you know, it’s not just about your
product at the end of the day, it is ultimately about your people. So a couple of tools that I use to
manage kind of employee engagement. I use a tool called 15 five, that’s
the number 15, and then the, the, the word five spelled out from there.
I mean, we have these three 60 reviews, right? You can see how
people feel about each other. Their peers are reviewing each other,
upward reviews, things like that. And I’m sure a lot of you have
heard of three 60 reviews, but also weekly you can see the general
pulse about how the company is feeling. Uh, you can see how people are tracking
in terms of things they got done, people high fiving each other,
uh, things like that, right? So employee engagement, super important
for us. And then also focusing on, uh, the culture because what are you, the only reason you’re going to build
a high performance sports team that, that will stay here for
a long time is you bro, you build a great culture because people
are going to talk about your culture. People are going to stay longer. Okay. And you’re gonna be able to get the
things that you need to get done. Ideally what you want the,
the, the people on your, on your team to be aware of two is you
want them to, to look out for themselves. Right? Um, so I actually
learned this from, uh, the Netflix book called
Powerful, uh, patty McCord. I think she was their head of HR. And, um, what she said was she always encouraged
people to kind of look out for themselves, right? And to make sure that,
you know, everything they did was to, you know, perform for the company and make sure
that they had the right people in the right seats and are constantly out
there, you know, on the lookout. And, you know, people weren’t
satisfied with things. You know, they’ll just go and talk to them and
just be very upfront, be be very direct. I think what happened when I hit a
plateau was I tried to do everything on my own. I tried to, I tried to
save the company on my own. I tried to, you know, um, all the
marketing, all the sales, right? Um, you know, all of the recruiting,
all the big decisions, all that, it all fell on my plate
because I felt like, you know, I didn’t do it all on my own because
I was the head of the company. And No, like you bring people in to help you
because you want to grow the business. You want to go further into business.
You can’t do that by yourself. So what I learned was I didn’t
learn to leverage to the, the people I had around me
that were willing to help, that they wanted to help and
they wanted to get better. So you’re gonna learn if
you’re hitting a plateau, I’m talking more about people.
Again, you got to delegate. Okay. When you hit a plateau, you got to
look at our who’s actually been there, who’s actually got the experience
and bring those people in. You’ve got to talk to people that have, you’ve got to kind of measure
employee engagement too, and this is all the stuff that we,
we often put on the back burner. We think about, it’s all
about the product. It’s all
about the service, but no, at the end of the day, every
single business, every single, every single thing you see around you,
it’s not just, Oh, it’s a business. It’s, it’s people. Remember
it’s also a business too. So you’re building a high
performance sports team. Okay, so here’s what I want you to do
now. Click on the link below. It could be the first thing in description
or the first link in the comments. It’s going to help you grow your
agency or your consulting business. It’s a free video just for you and let
me know in the comments what you think below. If you think I’m
right, you think I’m wrong. If you think I missed something. Also
don’t forget to check out the next video. Over there. Okay. And don’t
forget to rate, review, subscribe. And if you’re on youtube, hit
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videos like this. That’s it for today, and we’ll see you tomorrow.

3 thoughts on “What to Do When Your Agency Hits a Plateau

  1. Jaya Vishwakarma Post author

    Sorry I got late, I was in school
    Amazing content
    Eric, Will you target Indian users in the Hindi language for website or services? If Not, then why?

  2. Eric Siu - Leveling up Post author

    Click this link to scale your agency! https://www.singlegrain.com/join-agency-accelerator


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