STANDSTILL agency owners take their money out.
STANDOUT agency owners leave their money in.
We all need money to live and enjoy life, now more than ever. But if you’re going to grow an agency you also need to invest in it.
STANDSTILL agency owners take too much money out of their business. It’s an easy mistake to make:
Younger agency owners are attracted to buying status symbols and showing signs of success. They find it hard not to compare their current salaries with friends or what they might earn in a “normal” job.
As they get older, agency owners have more life commitments. Families and mortgages can start to demand more of their attention and money.
Once they’ve run their agency for a while, STANDSTILL owners get used to the income. They have a comfortable lifestyle and can become stuck in a comfort zone.
STANDOUT agency owners face all the pressures and choices of their less successful counterparts. However they make choices of their own.
They understand that in order to grow, their agency needs investment. To maintain stability, their agency needs liquidity. And to be sustainable, their agency needs commitment.
Unlike other industries agency owners can’t usually rely on investors. They need to make short-term sacrifices for long-term gain.
If you want to grow your agency, you need to leave money in the business.
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