Krista Neher, Author at Launchest

4 Simple Steps to Building a 6 Figure Social Media Agency

I just saw this headline on a Facebook ad. The truth is there are tons of headlines like this.

The reality is that there are no simple steps to a 6 figure business and most of these guys make money selling this idea to people when they haven’t actually built a 6 figure social media business themselves. They record these videos infront of private jets or fancy cars (that they usually don’t own by the way) and sell a dream that doesn’t exist. With almost no work you can be rich.

They sell you the easy path.

The simple solution.

The diet pill.

The truth of the matter is that it isn’t that easy.

Can you build a 6 Figure social media business? YES

Can you do it in 4 Simple Steps? NO

There are no two ways about it – creating and running a successful business takes motivation, hard work and smart decisions.

There are Ways to Accelerate Your Success

Look, there are no easy answers, but there are plenty of ways to accelerate your success. Learn from those who have done it. Get templates and tools that show you how.

We created Launchest to share with you over 30 years of experience in running and working with brands and digital agencies so that you can get started and get results faster. Get templates, tips, strategies, workflows, documents and everything you need to be successful.

It isn’t 4 simple steps. It is proven sales tools, presentations, marketing materials, onboarding documents, proposal strategies, strategy templates, measurement guides and all of the things that go in to executing a social media agency.

Even with 30 years of knowledge I couldn’t launch a new social media business tomorrow and earn 6 figures with 4 simple steps, and I guarantee you that the guy with his photo infront of a private jet isn’t going to show you.

Don’t Buy the Lie

Look – I know it sounds amazing to get simple steps to huge success, and you are probably tempted to check it out. Don’t waste your time. These people make their money selling you systems – not running agencies.

We have spent 30 years running social media agencies, and that experience is bottled up for you to get you better results faster (and save you time and money on costly mistakes we made). We don’t spend our time selling you systems for success – we created this to help you benefit.

How Much Can I Make with a Social Media Business?

by Krista Neher Leave a Comment

More and more people are starting their own social media businesses – and it makes sense. Social media continues to grow, social media spending continues to grow and there is still a huge opportunity for people to make money by running social media for businesses.

Business owners are busy running their business. They know social media is important but they don’t know where to start.

A lot of people considering starting their own social media business want to know how much $$ they can make by starting their own social media business.

The answer (as always) is that it depends….. That being said, let’s review a few scenarios.

Part Time Social Media Management:

Let’s say you start part-time while you still have your day job. Realistically you can probably handle 2 clients in your evenings and weekends. The monthly retainer for social media management will probably range from $500 – $2,000 (especially if you are just starting out), so for this example let’s use $1,000/month.

Monthly Retainer: $1,000/month X 2 clients X 12 Months = $24,000

In your first year managing social media part-time you could make $24,000… your part time business could make as much as some people make in a year.

Full Time Social Media Management:

If you are ready to dive in to social media management and have time to actively solicit new clients and manage clients you can make a big impact. If we still assume that your average retainer is $1k/month, an average social media manager can easily hand 5 – 8 clients. Many businesses have clients paying more than $1k per month.

Monthly Retainer: $1,000/month X 8 clients X 12 Months = $96,000

If you simply add one new client a month, at the end of your first year you’ll be making $96k – and you can continue to grow from there.

As you can see, creating your own social media business can be very profitable. These are simply guidelines or scenarios – how successful you are depends on how much work you do.

5 Things I Wish I Knew Before I Started my Business

by Krista Neher 2 Comments

I’ve been in business for 6 years now (time flies) and since we work with so many social media entrepreneurs through Launchest, I wanted to share 5 things that I wish I’d known as I started my business.

When you start a business you’re aiming in the dark, and it can take a lot of trial and error to figure out exactly what to do and how to do it to successfully grow your business.

As I think back, here are 5 things I wish I’d known when I was just starting my business:

1. Sell Packages and Avoid Custom Quotes

When I first got started I spent a TON of time creating proposals for people – and EVERYTHING was customized. This created a few problems. First, businesses don’t know exactly what they want or need – they are looking to me for leadership. Eventually I packaged what I sold into a few different “packages” – they could do social media management, social media coaching or a strategic plan. Each of these had a clear scope, price (although I sometimes adjusted it based on the client) and I saved a ton of time.

I still did custom quotes for high-value clients, but 90% of the time I sold packages.

Seriously, this saved tons of time and improved my quote rate.

2. Build Processes

When you get started you need to have processes and systems for handling new clients so that things don’t fall through the cracks and you look organized. I’m not naturally organized so it took me a long time (and lots of missed opportunities) to build processes around both managing my business, managing clients, managing my sales process.

As I think back I missed so many opportunities because I didn’t have the right processes in place.

3. Follow Up and Do What you Say You Will

The biggest complaint that most people have when trying to do business with someone is getting quick, timely responses. I’ve had companies come to us for recommendations for social media execution because they already talked to 5 people, and none of them sent the quote when they said they would! I had this experience when hiring a contractor for my house. The guy I hired was the one who gave us the estimate on the spot – the others were days (or weeks) late!

I’ve lost lots of business and credibility over the years to poor follow-up. Now we have a system (see #2) that tracks followup and manages this process. We are often complimented on our speedy turnaround and followup process 😉

4. Qualify Prospects Early

At the beginning of my business I wasn’t very good at qualifying prospects. I just didn’t know if someone had the budget and would spend money. I remember spending 2 hours on the phone with a guy who wanted social media for his Real Estate business. We happened to be running a special social media for real estate agents workshop, so he could get the advice he needed for only a few hundred bucks (instead of thousands in consulting). He said he didn’t have that kind of money. What a waste of time!

Here is a tip: Throw out a “ball-park” figure early on. This allows you to see if you are even in the same ball park and will quickly end conversations with people who simply don’t invest in their business or have unrealistic expectations.

5. Focus First on What Matters Most

It is really easy to waste time on things that are either fun or more interesting than what you really need to do. When I first started out I spent tons of time on things that didn’t matter, and not enough time on the things that would grow my business quickly. You have limited time. Use it wisely.

Focus first on getting PAID CLIENTS. Nothing else matters. You don’t need to set up an LLC (I’m not a lawyer, but you technically don’t need an LLC to start a business). You don’t need endless research. You need to get out there quickly with a credible business and a good value proposition.

Don’t waste time or make excuses. Make money.

5 Marketing Tools Every Social Media Business Needs

by Krista Neher Leave a Comment

If you are starting a social media business you need the marketing tools to succeed. Having the right marketing collateral is important because it signals that you are professional and experienced (both of which will get you more clients).

Some businesses struggle to get off the ground because they don’t have the right materials to impress potential clients – this can create doubt and seriously undermine your credibility.

Here are 5 marketing tools you need to be taken seriously as a business:

1. Business Cards

Not having business cards is one of the most amateur mistakes that you can make. Not bringing them EVERYWHERE with you is the second biggest mistake. Print decent business cards (hire a designer if you need to) so that people feel that you have an established business.

2. Website

It is 2015 and people expect that EVERY business has a website. And your website can’t suck. Especially as a social media business, you need a website. This should be at the top of your list as you establish your business. Create a good looking website that will continue to build on your credibility.

3. Brochure/Sales Material

You need great sales materials and a brochure is a great leave behind after a meeting – people won’t read every word (they may not read any of them) but having professional collateral that demonstrates your services, approach, etc shows that you are serious. A strong brochure solidifies how you can help a business and shows your unique value proposition.

This is also helpful if there are multiple decision makers since they can forward your brochure to others, or bring it to a meeting. Your brochure is like your offline website.

4. A Great Proposal

A strong proposal is required to close ANY DEAL. When you get your first chance, create an AMAZING proposal that you can use as a template for all of your future proposals. I’m always surprised by how many businesses have terrible proposals – I especially think about how much it must cost them.

5. An Email Address at your Own Domain

Nothing blows your credibility quicker than having people message you at a gmail account. Make sure that you set up email at your domain name.

Thinking of Quitting Your Job to Start a Social Media Business? 5 Things to Consider before making the plunge.

by Krista Neher 1 Comment

Many people who currently do social media as a part of their job are eager to take the plunge and start their own business.

Why not?? Entrepreneurship is HOT right now. Shark Tank has made entrepreneurship sexy and more than ever, people want to start their own business.

The flexibility is appealing, and the idea of building something yourself. Plus, if your business takes off, the financial payout can be very rewarding.

That being said, there are a few things you want to consider before you make the jump.

1. Income May not Come Right Away, and it May Not Be Consistent

Be sure that you can handle inconsistent income. For most people, starting out means a few months of building a business without a lot of income coming in right away. Even after your business is up and running, you may have late paying clients that throw you off. Have a safety net for yourself.

2. You’ll Have to Hustle and Work Really Really Hard Sometimes

I can’t tell you how often I’ve stayed up all night working on a deadline, or taken international conference calls at 2 AM, or traveled to the middle of nowhere arriving in the middle of the night only to run a workshop for the day on 3 hours of sleep. Be ready to work hard when you need to, and enjoy the flexibility when you can.

3. Get Clients Before You Quit Your Day Job

Before you quit your day job, make sure that you have some PAYING clients in the hopper. Work evenings and weekends if you have to, but prove out your value proposition before you make the leap. This will not only give you a financial buffer but it will also allow you to grow your clients more quickly when you start.

4. Be Ready to Act Like a Real Business

If you act like you don’t know what you are doing, people won’t trust you. If you don’t value yourself or your services, people won’t take you seriously. First, make sure that you have experience and maybe invest in a social media training program – clients shouldn’t be paying you to learn. Second take yourself seriously and act like a real business from day 1.

5. The Rewards Can be HUGE

While I did focus on the watch-outs in this post, it is important to note that running your own business can be very rewarding. You get to be your own boss, work on projects you love and build a lifestyle that works for you.