The Top 5 Myths of Owning Your Own Marketing Agency

What It’s Like Running Your Own Small Business

There are 10s of thousands of marketing agencies in America with less than 15 employees.
And I would be willing to wager that 90% of these agencies run the owner, not the other way around.

In this series we’ll cover five common myths and their corresponding disappointments that come along with agency ownership.

Starting Out, Oh the Freedom, the Exhilaration

Before we get to the five disappointments of running your own agency, let’s remember the glamor, glitter, and glory that it began with.

Think about when you started your agency or became a solopreneur.

You had a vision to put to use all your hard earned and brilliantly polished marketing skills to rule your own little world.

Maybe you were sick of being that account manager on the $3 million dollar agency contract while you fought to make $64k per year.
Perhaps, you were just suffocating in the corporate world spending your days doing mindless tasks.

You were ready to kiss that 8am to 6pm corporate job goodbye.
You knew there was more.
You had the answer.
Go out on your own.
These talents you have can’t be held down!

With a mix of eager anticipation, excitement, and fear you left and started your own thing.
Your best times were ahead (or so you thought).

You knew you didn’t need a $3m client to get by, like big corporate did.
You thought, “I’ll just stack up 6 clients on $2k/mo marketing retainers and ride off into the sunset.”
No problem.
Done and done.

And so you launched and started out.
And you weren’t entirely ignorant.
You landed a few clients.
They didn’t come in one per week with a $2k per month retainer, of course,
but you closed some deals.
And you signed up a few “buddy” deals well below your minimum.
And you landed the obligatory handful of cheap clients you can never seem to find the nerve to fire.

And now a year, or two, or five have gone by, and here you are.
How did that dream and vision turn out?
And what do you really have at the end of the day?

If you have already been through this process, these top 5 myths will resonate loud and clear. If you’re at some state in planning to launch or just starting out, this will be invaluable for you to understand.

The Top 5 Myths of Running Your Own Business and Their Disappointing Realities

These are the most common five disappointments I’ve encountered in my own agency and in working with other agency owners.

#1 I’m Finally My Own Boss! I Call the Shots Now.
Yes! You are finally your own boss. No one can do it like you do.
But the harsh reality is everyone else ends up ruling your world.
From clients, to workers, to the IRS everyone wants a piece of you.
+ Read The Post Here

#2 I’ll Have Lots of Freedom and Autonomy
You’re anticipating all this freedom to spend time with family, enjoy life, and maybe do some traveling here and there.
The reality is you can’t even take two weeks off without your business starting to crumble.
+ Read the Post Here

#3 I’m Going to Make a Six Figure Salary
You thought you’d easily better that corporate salary.
Six figures are just a few years away.
The reality is you can never seem to make that crushing salary you dreamed of.

#4 Success! I’m Going to Hire Some People and Grow This Thing
You’ve finally had a little success and it’s time to hire some of this out.
You start at your most menial and basic tasks and work your way up.
The reality is it’s really hard to grow a service based business.

#5 I’ll Get To Work When, Where, and How I Want
Having free time when I want it and according to my schedule will make it worth it all.
The reality is you can forget about free time, there is ALWAYS way too much stuff to get done.

In the coming weeks, we explore each of these five myths and their corresponding realities.