Joshua NelsonSeven Figure Agency · Mentor / Coach at Seven Figure Agency

Unlocking Agency Growth: Mastering the Money Math for Success in 2024

Name: Unlocking Agency Growth: Mastering the Money Math for Success in 2024
Uploaded: 2024-02-28T15:14:29+00:00
Duration: 49 s
Channel: Joshua Nelson
Description: In this segment, Joshua Nelson advises agency owners to perform a concrete "money math" exercise to determine how many clients at various price points…

28 Feb 2024 · 1 min

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In this segment, Joshua Nelson advises agency owners to perform a concrete "money math" exercise to determine how many clients at various price points are needed to achieve their revenue targets for 2024. He illustrates multiple scenarios for reaching $1 million (and hints at $5 million) by varying monthly fees per client—from a single high‑value client at $83k/month to hundreds of low‑value clients at $100/month—emphasizing that the quickest path to growth is to charge sufficiently high rates rather than chasing a large volume of low‑paying clients.

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Now, the second thing you need to consider as you think about growing your agency in 2024 is you want to make sure that you've done the money math. How many clients is it going to take to hit your revenue goals? Now, let's say your goal is to get to $1 million in 2024, or maybe it's to get to $5 million in 2024. Just using each million, there's a couple of ways to get there, right? You could have one client that pays you $83,000 per month, $83,000 times 12 months is about $1 million. You have one client, you could have 8 to 9 clients that pay you $10,000 per month. You could have 83 clients that pay you $1,000 per month. You could have 166 clients that pay you $500 a month. You could have 830 clients paying you $100 a month. The fastest way is to make sure you're charging enough that you're not chasing your tail.