Should You Start An Agency Or A Software Business? (Contrarian View)
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- Опубліковано 10 тра 2022
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Shaan Puri (@ShaanVP)and Sam Parr (@TheSamParr) sit down with entrepreneur and online marketing guru, Neil Patel, to talk about the advantages and disadvantages of an agency vs. software business.
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Links:
* Neil Patel - neilpatel.com
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A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us.
Don’t see why it seems so surprising that one would start an agency. They’re both hard, but a software business usually takes more time to make money. Agencies can scale to six figures in the owner(s)’ pockets within 1-3 years if they play their cards right and can sell.
Once someone is making six figures or more THEN they can move into software because they have the capital to fund it or can afford to not work while they build. To paraphrase Lord of the Rings, “One does not simply ‘build’ a software business.”
I've run an agency for over 10 years and have been surrounded by product companies for years. One reason I chose an agency is I'm a risk adverse person who didn't really understand the investment/equity game. I feel like yes, software product companies can scale, can explode - but also have a high chance of never hitting profitability. Agencies can be profitable very early on without any investment - especially software agencies. To me, it's a high risk, high reward argument. My agency is tiny and would never grow the way a product company would - but I'm happy with my success.
how can I talk to you, I would rly like to know how you started
Sam’s energy was so abrasive and combative, especially towards a guest on your show
I think he’s just direct and super curious.
He got offended by the Hubspot employee thing lol.
@@Marcin-ji1vm Haha I was gonna say the same thing!
I loved this episode. Honestly one of my favorites get. You guys didn’t talk ideas a lot but love hearing real numbers from people. Helps gauge a lot or set higher goals.
Agencies don't have to reinvent the model. Over time, you start to notice patterns in successful campaigns. We then transform those patterns into templates, processes, and frameworks that can be used again and again because the major principles are the same. Of course, we personalize our plans for every client. However, the outside is different but the inside is the same.
Amen!
This was an odd episode. Something about the guest just felt off
that's because he is sketchy in real life.
@@georgew1857 what does he do?
I’ve been following Neil from the CrazyEgg times, but it’s the first time I’ve seen an interview.
As a marketer, he comes across quite poorly. The helping people part who work for you doesn’t make sense to me.
Stating he was a poor manager did him no favours either.
Plus no mention of clients, or real proof of earnings.
He makes 100M+ Yearly lil bro.
Why not just have an agency the focuses on software?
Invested 5 million of his own money 😮
TLDR: You should start an agency if … you can be the face of it but not involved in the day-to-day.
@Omario I’d listen to the whole interview, but the main point is Patel started an agency with an co-owner/operator that handles the day-to-day.
So he mitigates the pain of operating an agency by removing himself from it.
Bottom line: own businesses and hire other people to run them.
@Omario depends on your skillset. Software is most of the time hit or miss, having clients as an agiency is a safer business strategy
@@Adam-yf3ss "Bottom line: own businesses and hire other people to run them"
That's exactly what a business is my friend...
All these brokies think in $10,000/month and don't understand you have to hire talent to run your business so that you can focus on what gives you the greatest ROI on your input.
Damn these guys seem to be running down neil.
I don't think so. Neil seems to like them a lot. He's ready to give an answer to their questions. But he does look tired and has a humbled presence to him. Like running these businesses did a number on him and he had to learn some hard lessons.
No. I enjoyed talking to him. I hope he did too.
Really didn't like this episode and I love most of them. I normally come away feeling energised and inspired, but there was something about the guest (Neil) where I found his answers to not be not 100% believable. He's clearly a really successful guy, but definitely my least favourite episode. Indeed I wanted to stop it and not listen any more, but I have a thing for finishing things!
You’re just in your head a lot and not successful yourself that’s why you feel that way. I suggest you strive to achieve success, you’ll see more value in Neil after you do lol.
@@Scholarvine Not that at all, so stating something as a fact and then creating an argument around that is just you projecting your views (which are incorrect) on me. I thought I gave a balanced view here. I actually said that Neil is obviously successful, but this episode didn't resonate with me. That's all. Seems you just like to attack or are just a fanboy.