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: 2024-01-02T01:57:56+00:00
Duration: 49 s
Channel: Joshua Nelson
Description: In this presentation, the speaker stresses the critical step of doing the "money math" when planning agency growth for 2024. He walks through concrete…

2 Jan 2024 · 1 min

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In this presentation, the speaker stresses the critical step of doing the "money math" when planning agency growth for 2024. He walks through concrete calculations showing how many clients are needed to reach revenue goals such as $1 million (or $5 million) by illustrating several pricing scenarios: a single client at $83k/month, 8‑9 clients at $10k/month, 83 clients at $1k/month, 166 clients at $500/month, or 830 clients at $100/month. The core message is that agencies should aim for pricing levels that allow them to meet targets without having to chase an unmanageable number of low‑value clients, emphasizing the importance of charging enough to avoid “chasing your tail.”

Chapters

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.