849: Agency Survival Guide: Productize a Service Business and Stand Out in a Crowded Market with Max Traylor

I have a question for my fellow founders, small business owners, and entrepreneurs: Do you work for your business or is your business working for you? Do you wish you had a business that could develop quickly, be extremely profitable, and scale without you? Do you have a wonderful concept but aren't sure how to turn it into a product that will generate a reliable, regular cash stream?

Max Traylor is a coach, consultant, and strategy expert who helps productize consulting services. He is the host of the interview show "Beers with Max" and the author of the book "Agency Survival Guide: How to Productize Consulting Services and Do Other Things Better Too." Today, Max discusses the importance of building a business that aligns with your personal life, the power of positioning your knowledge as a premium offering, and the strategies for finding and targeting your ideal clients.

Quotes

“The lesson to my five-year-old business self would be to put your personal life first and build a business that works around your personal life, not the other way around.” - Max Traylor

“The money you make has nothing to do with what you do. It has to do with who you're selling to, who you're working with, and what they perceive the value to be.” - Max Traylor

“Don't wait for your best clients to show up; you have to go get them. If you're not staring at a list of your next 40 ideal customers, you're doing it wrong.” - Max Traylor

Takeaways

01:14 Building a business around your personal life and lifestyle is key to achieving work-life balance.

03:47 Positioning your knowledge and expertise as a premium offering allows you to charge higher prices and create scalable revenue streams.

09:18 Embracing the mindset that "no" is the start of a valuable conversation, not the end, can help you overcome limiting beliefs about pricing.

12:36 Actively pursuing and targeting your ideal clients, rather than waiting for them to find you, is crucial for business growth.

18:36 Maintaining a consistent pipeline of 15-20 new prospect conversations per month is a good target to ensure a steady flow of new business.

23:13 Defining what "growth" means to you personally, whether that's increased revenue or more personal time, is crucial for setting the right goals.

Resources

Podcast: Play in new window | Download (Duration: 26:25 — 36.5MB) | Embed

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Filed in: Archive 4: 2020-2023 • Interview • Podcast

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