Mastering Agency Growth and Client Retention

In the latest episode of "The Thoughtful Entrepreneur," host Josh engages in a compelling conversation with Colby Wegter, the founder of the Delivery Mastery community. The discussion delves into the intricacies of agency growth, the critical importance of client retention, and the common challenges faced by agency owners in today's competitive landscape. This blog post will break down the key insights and actionable advice shared by Colby, providing a comprehensive guide for agency owners looking to enhance their business strategies. Josh opens the episode by inviting listeners to explore valuable resources aimed at enhancing their business connections, including introductions to partners, investors, influencers, and clients. He shares his extensive experience, having engaged in private conversations with over 2,000 leaders to uncover the best sources of business success. Josh offers a free video class that outlines strategies for achieving 100% inbound marketing in any industry within six to eight months, emphasizing a spam-free, ad-free, and sales-free approach. He encourages listeners to visit his website, upmyinfluence.com, to access this resource. Following this introduction, Josh welcomes Colby Wegter to the show. Colby, who has spent over a decade in the digital marketing agency space, shares his journey, including the challenges he faced, such as burnout, and how these experiences led to the creation of the Delivery Mastery community. Colby begins by recounting his 12 years in the digital marketing agency world, with eight of those years as an agency owner. He candidly discusses the severe burnout he experienced in 2022, which nearly led to hospitalization. This period of intense stress and overcommitment prompted him to reevaluate his approach to work and life. In 2023, Colby found solace and support through networking with others who were navigating similar challenges, leading to the formation of the Delivery Mastery community. The core mission of Delivery Mastery is to provide a supportive environment for agency owners who often feel isolated and overwhelmed. Colby emphasizes the importance of surrounding oneself with like-minded individuals who understand the unique pressures of running an agency. He aims to share techniques, systems, and frameworks that helped him transition from experiencing multiple burnouts to achieving multiple seven-figure revenues.

About Colby Wegter:

Colby Wegter has been involved in digital marketing since 2013 and has spent the last eight years as a partner in a bootstrapped agency that ranks among the top 1% globally, according to Clutch. His journey began on a farm, in a house without air conditioning, in a small town with no stoplights and a population of 600. He attended a Big Ten university and graduated with a degree in elementary education. Following graduation, Colby took a teaching job in Brooklyn, NY, but he left after just 4.5 months. Colby then joined BrandYourself as employee number 12, where he launched and managed the highest volume service, handling 160 clients simultaneously. After a year with BrandYourself, the company was featured on Shark Tank and turned down a $2 million offer from Robert Herjavec. After leaving BrandYourself, Colby moved to a marketing agency in the Twin Cities before co-founding Agency Jet with two partners. Under Colby's leadership, Agency Jet experienced remarkable growth, doubling its revenue every year for six years and is projected to reach $2.8 million in revenue this year. Throughout his career, Colby’s core strength has been retaining clients for unusually long periods. While the average client retention in the digital marketing industry is about six months, Colby often retains clients for over three years, with many staying with Agency Jet for up to six years. Colby is known for his strong opinions on delighting and delivering value to clients. With a philosophy of prioritizing clients first, employees second, and investors third, Agency Jet has grown from zero clients and revenue in 2016 to over 70 clients, eight full-time staff members, and $2.8 million in annual recurring revenue. The agency excels in providing world-class customer service while maintaining a lean operational model, compared to other agencies in the $2 million revenue range that typically have 20 or more employees. On the podcast, Colby would like to discuss strategies for scaling with less stress, as he is now focused primarily on strategy and inbound marketing, having stepped back from day-to-day operations at Agency Jet. He can provide insights on scaling through automation, team management, and maintaining long-term client relationships for predictable recurring revenue. Additionally, Colby is working on a community for agency owners called Delivery Mastery. This community aims to support agency owners who have yet to reach seven figures in revenue, offering a network of peers an...