Thanks for the video Greg. I watched one of your videos before about specializing, but there's a problem AFTER that decision to specialize. You mentioned the brain surgery specialist. In the business world that same patient would be a big client, a big firm, that has big money to solve big problems and needs only the best and most experienced. I believe that the reason why people open full service agencies - is to serve the small to mid-size firms. Not the patients who need complicated brain surgery, but the ones who just need to be checked, who need a perscription or some basic medical help. Specializing comes therefor as a result after becoming very accomplished in helping a small company; ...like the next step where I can start to help big companies. I started my full service agency 18-19 months ago and I knew that I offered way too many services but was hoping to specialize sooner than later, based on demand and my own passion. My initial idea was to be the one partner who HELPS WHEN NEEDED without the client needing to hire 3-4-5 new employees. I'm talking about growing small to mid-size firms. I identified them as my target I can offer valuable services to. I'm not in a position yet to get the top top clients, for a number of reasons. I would like to further specialize, but the problem is that I have 3 different services that my 3 most loyal clients hire me for continuously: 1.) Identity design (creating new brands, logos and redesigning existing ones) 2.) designing retail packages (food and cosmetics) 3.) Complete multimedia ad campaigns (conceptualization, media planning & buying, and design of every element of it) I stopped offering things I hate doing: social media, websites, SEO, google ads etc. But still have the feeling that I need help in the next stage of specializing. That's why I'm commenting right now. I know 3 kinds of services are too much, but leaving one of them would surely be like „leaving work for competitors", where I know I do better work than them and where I've already achieved a good price level. I have also a geographical problem because in Herzegovina (where we operate) there are quite many growing companies without dedicated design and marketing departments. My top client spent 15k euros on me in one year, but if he wanted to hire 2-3 people full time for the same services he would need to pay at least 20-30k brutto on them, if not more, and he wouldn't have work for them all the time.. I hope you understang Greg what I'm talking about. That's why I see a problem in further specializing, because I would likely intentionaly reduce my traffic. And I also have a "problem" where my agency grows every quartal, which is not an alarming sign for now 😄 ...Not a growth in number of clients, but in repeating orders from existing clients. I even handled to raise prices without them being pissed off, because they found someone who they can trust. This is basically proof that I'm onto something good. . How to further specialize without canibalizing what now works? Or have I specialized enough?
A lot to unpack here... My high level answer is...the clients you have now may not be the type of clients you're future desired business will require you to have. Great move killing off services you don't enjoy. 3 kinds of services aren't necessarily too much if they are targetting the right prospect and allow you to evolve with that client. I personally believe it's difficult to target both SMB's and large corproations. There are different dynamics that "often" (not always) require different approaches And with most growth opportunities...it's sometimes necessary to take one or two steps backward in order to take 10 steps forward.
Hi Greg, one could also say that the generalist is a 'Clinic', where a general GP makes a diagnosis and send you to the in-house specialist. Btw, is that a Surface Book?
Great video Greg!! Have been following ever since you did The Futur video. There's no link to the worksheet in the description. Really appreciate the knowledge you drop!
First of all thank you for the great content you're putting out. My question: Does becoming a specialist vs a generalist means offering less services. For example my agency is specialised in helping eCommerce businesses but we offer them multiple services, SEO, Google Ads and website/eCommerce setups. At the same time if a customer ask for consultation or training we also accept these type of work and we charge hourly. Can you please clarify. Thanks in advance
Great question. I honestly think for each agency it's one of those "it depends" answers. Depends on your goals, what you want, what you're good at, what clients need etc. I'd say generally speaking specializing in the sense of what we talk about is more about simplifying. your number of offers. 1-3 offerings that serve your ideal client that are designed for your ideal client is what we work towards. If we just customize proposals each time - that's not specializing. If you know your audience well enough and where they want to go and what they need to get there, 1-3 offerings can enable you to go deeper with fewer clients and scale faster and more predictability. I don't mean "only do SEO". Sometimes your "offer" can include a few skillsets that enable your client to achieve the goal they want.
Thanks for the video Greg. I watched one of your videos before about specializing, but there's a problem AFTER that decision to specialize.
You mentioned the brain surgery specialist. In the business world that same patient would be a big client, a big firm, that has big money to solve big problems and needs only the best and most experienced.
I believe that the reason why people open full service agencies - is to serve the small to mid-size firms. Not the patients who need complicated brain surgery, but the ones who just need to be checked, who need a perscription or some basic medical help. Specializing comes therefor as a result after becoming very accomplished in helping a small company; ...like the next step where I can start to help big companies.
I started my full service agency 18-19 months ago and I knew that I offered way too many services but was hoping to specialize sooner than later, based on demand and my own passion. My initial idea was to be the one partner who HELPS WHEN NEEDED without the client needing to hire 3-4-5 new employees. I'm talking about growing small to mid-size firms. I identified them as my target I can offer valuable services to. I'm not in a position yet to get the top top clients, for a number of reasons.
I would like to further specialize, but the problem is that I have 3 different services that my 3 most loyal clients hire me for continuously:
1.) Identity design (creating new brands, logos and redesigning existing ones)
2.) designing retail packages (food and cosmetics)
3.) Complete multimedia ad campaigns (conceptualization, media planning & buying, and design of every element of it)
I stopped offering things I hate doing: social media, websites, SEO, google ads etc. But still have the feeling that I need help in the next stage of specializing. That's why I'm commenting right now.
I know 3 kinds of services are too much, but leaving one of them would surely be like „leaving work for competitors", where I know I do better work than them and where I've already achieved a good price level. I have also a geographical problem because in Herzegovina (where we operate) there are quite many growing companies without dedicated design and marketing departments. My top client spent 15k euros on me in one year, but if he wanted to hire 2-3 people full time for the same services he would need to pay at least 20-30k brutto on them, if not more, and he wouldn't have work for them all the time.. I hope you understang Greg what I'm talking about.
That's why I see a problem in further specializing, because I would likely intentionaly reduce my traffic.
And I also have a "problem" where my agency grows every quartal, which is not an alarming sign for now 😄 ...Not a growth in number of clients, but in repeating orders from existing clients. I even handled to raise prices without them being pissed off, because they found someone who they can trust. This is basically proof that I'm onto something good.
.
How to further specialize without canibalizing what now works?
Or have I specialized enough?
A lot to unpack here...
My high level answer is...the clients you have now may not be the type of clients you're future desired business will require you to have.
Great move killing off services you don't enjoy.
3 kinds of services aren't necessarily too much if they are targetting the right prospect and allow you to evolve with that client.
I personally believe it's difficult to target both SMB's and large corproations.
There are different dynamics that "often" (not always) require different approaches
And with most growth opportunities...it's sometimes necessary to take one or two steps backward in order to take 10 steps forward.
Hi Greg, one could also say that the generalist is a 'Clinic', where a general GP makes a diagnosis and send you to the in-house specialist. Btw, is that a Surface Book?
I Like that. and iPad
Great video Greg!! Have been following ever since you did The Futur video. There's no link to the worksheet in the description. Really appreciate the knowledge you drop!
No indeed, the link to the worksheet is missing.
Great catch and thanks for joining me here. Here is the link: altagency.com/psw. Updated in description as well)
Here ya go: altagency.com/psw
The worksheet page is blank for me.
Yep, same, it just shows a blank page when clicking through to it...
Figured out the issue. You have to disable adblocker for above link and it should work
@@ACoderThatMakesFilms Unfortunately still not working for me on chrome or firefox but I appreciate your response.
Safari? Incognito?
First of all thank you for the great content you're putting out.
My question:
Does becoming a specialist vs a generalist means offering less services.
For example my agency is specialised in helping eCommerce businesses but we offer them multiple services, SEO, Google Ads and website/eCommerce setups. At the same time if a customer ask for consultation or training we also accept these type of work and we charge hourly.
Can you please clarify.
Thanks in advance
Great question. I honestly think for each agency it's one of those "it depends" answers.
Depends on your goals, what you want, what you're good at, what clients need etc.
I'd say generally speaking specializing in the sense of what we talk about is more about simplifying. your number of offers. 1-3 offerings that serve your ideal client that are designed for your ideal client is what we work towards.
If we just customize proposals each time - that's not specializing.
If you know your audience well enough and where they want to go and what they need to get there, 1-3 offerings can enable you to go deeper with fewer clients and scale faster and more predictability.
I don't mean "only do SEO".
Sometimes your "offer" can include a few skillsets that enable your client to achieve the goal they want.