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From $400 to $40 million: Nick Bell’s agency playbook
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Ever wondered what it’s like to run a high-octane digital agency? If you’re knee-deep in the digital marketing world, you’re gonna dig this chat.
Hey there, Jason Andrew here, and you’re listening to Stark Naked Numbers – the podcast that’s about stripping down the numbers behind business, investing, and wealth creation to help you become a better entrepreneur and investor, and ultimately build your net worth.
Today I’m hanging out with serial entrepreneur and self-proclaimed industry disrupter, Nick Bell. This guy’s not your average Joe – he’s set up more than a dozen companies, including a digital advertising agency he started in 2008 with just $400 bucks. He then sold it ten years later for close to $40 million.
Since then, Nick’s been on a roll, with a holding company sporting over 10 digital agencies and services business, from Outsourcey, an off-shore labour hire company, to his latest passion project, Super Young, a bio-hacking clinic promising to keep you spry and kicking till you hit the century mark. But I’ll let him tell you all about that.
In this chat, I ask Nick about his rinse-and-repeat strategy for success, how he keeps his managers motivated, and how to control client experience and maintain quality as you grow. We also go deep on the numbers of running a high-flying agency.
Links:
To keep up with Nick Bell, follow him on LinkedIn.
If you enjoyed this episode, subscribe to Stark Naked Numbers on Apple Podcasts, Spotify, Stitcher or wherever you get your pods.
Want the secrets the other accountants won’t give you? Follow Jason Andrew on LinkedIn.
To learn more about uncovering your financials, unlocking your cash and unleashing your cash, visit starknakednumbers.com.
Show Notes:
(02:29 ) - The early days of WME
(13:10) - A new and improved digital agency formula
(17:55) - Why outsourcing is a good industry to be in
(23:10) - Incubating a service-based business
(28:43) - Nick’s time allocation across his business portfolio
(31:20) - Incentivising your GMs
(33:51) - What the financials of a high performing agency look like
(36:02) - Identifying a poorly run agency
(44:53) - Scaling up your service-based business
(47:30) - Nick on people management (being a ‘people person’)
(50:29) - Controlling the client experience and maintaining quality as you grow
(52:22) - Selling your agency: when an agency will sell for more
(53:27) - Nick’s passion behind Super Young and ‘Biohacking’
(01:03:43) - Nick’s advice for new business owners
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