Digital agency business is the key to exponential growth
If you always wanted to start a business but had no clue regarding which one to start and how to go about doing it. Or if you already own a business, but need another stream to generate
The fact is that India is going through a digital revolution. Companies like Reliance have enabled internet to a vast majority of individuals in our country. Almost everyone in you know in your network use the internet for some purpose or the other. This could include - socialising with friends, searching for information etc.
This gives businesses across the country the platform to spread their message at an extremely reasonable cost. Business owners can ditch traditional mediums and use companies like Google or Facebook to put their products or services across.
Why is now the time?
The fact is that the internet is brand new. It has been only a couple of decades since we have realised the potential of this beast. Even though the internet was available to the world, India just started using the internet dominantly. Can you imagine that Flipkart has been only around for 12 years whereas the world was already using Amazon for a decade? This gives entrepreneurs in India the opportunity to kickstart novel online businesses that can contribute to the economic growth while capitalising on the gains.
Unfortunately, many individuals in our country do not understand the importance of this revolution. Majority of the Indian businesses tend to rely on traditional marketing sources for the marketing and sales. Only a finite amount of companies in our country are using the potential of the internet to reach their customers.
Discovering a hidden opportunity
So far we have concluded the following -
1. The internet is a powerful tool that can lead to the kickstart of powerful companies in India.
2. Online websites have become increasingly popular in our country as they are widely used by a huge chunk of the population.
3. There are several businesses in our country that are still using the old/traditional sources of marketing (not harnessing the power of the internet).
If put 2 and 2 together, you will realise that there is a huge gap. If one could come into the picture and give these business owners the ability to connect with their potential customers using the power of the internet, then this gives birth to an opportunity where the connector would be able to charge a certain fee.
In simple terms, if you could connect these business owners to their potential customers by building their website/app, making them present on Social Media, ranking them on Google, writing content for their engagement or anything similar, then you can charge a fair price for your services by starting your own digital agency business.
5-Steps To Start Your Digital Agency Business
Step #1 - Discover a specific problem
The first step you need to take is find out a major problem that a group of people share. Several businesses fail to succeed because they start their company using a "solution-oriented" approach. This means that they enter the market with a solution to a problem that hasn't been validated by anyone but themselves. Example - look at the dot com bubble that happened in the United States. Several companies were started just because they thought internet is the next big thing and any company with any solution would succeed if they are online. As expected, only a limited number of them survived. You might notice a similar trend with the blockchain (crypto) companies as well.
Therefore, my recommendation to you is that you interview a selected group of people who you are passionate in helping and discover what problem are they all suffering from? What's keeping them awake the whole night? You need to understand the key issues these individuals have and then build a service around it rather than doing the other way round.
Step #2 - Learn to fix that problem
Once you have identified a common problem, it is important to learn how to fix it. If you don't already know how to fix the problem, then it's best you find somebody who does know. This individual could be in the form of a mentor/teacher who can teach you the same or a contractor/employee who could do the work for you. In order to find a good mentor, you should look for books or courses that would help you learn that material from somebody who has done it multiple times. Example - if I want to learn how to cook Italian food, then I would probably get relevant books on the topic, purchase courses from top-chefs(or decent ones), and practice daily.
Finding a contractor/employee would require you to scan through several individuals before you can find somebody capable enough of doing the job for you. You can use websites like Upwork or Fiverr to find workers on a contractor basis. On the other hand, you can use the vast number of job portals to find the right candiates.
Step #3 - Approach
clients that have the problem you discovered.
At this stage you have both - a group of people who have a common problem and then a solution to that exact problem. Therefore, your job is extremely simple now as you have to approach the same set of people you contacted earlier, and present them with your unique solution to the problem. You need to make them understand and realise why your product would help the go from their current situation to their desired situation.
Step #4 - Book a meeting and sign them.
The best way to close a client is to book a consultation meeting with them. This could be in the form of a face-to-face meeting or telephonic. The goal is to make these people realise the importance of your product and collect the necessary fee for doing the services that'll get rid of the prospect's problems. Once these individuals agree to take your services, you can offer a payment link via a website called as Instamojo. Your clients can pay via credit card, debit card, net banking, or cash (depending on where they are located).
Step #5 - Deliver an exceptional customer experience
Your main goal now is to serve your clients and deliver them an experience such that they hire you again. Learn this principle from Amazon - a company that always puts their customers first and will go through anything to keep them happy. It is also important for you to develop the whole process into a system so that it can be repeated with multiple clients.
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