22 min
Should you start your own agency because your boss is making too much off of your work? Agency Leadership Podcast
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- Marketing
It must be nice to own an agency because then you’re earning the big bucks, right?
Many agency employees complain that clients pay so much more than they are making, so the owner must be reaping a huge profit.
It makes it easy to think that setting out on your own and working for clients directly is the right answer.
In this episode, Chip and Gini discuss the realities of quitting your job to start your own agency, emphasizing the importance of understanding the costs of owning a business, and how as an owner it’s up to you to communicate transparently to your team how revenue is not the same as profit.
Key takeaways
* Chip Griffin: “Revenue does not equal what’s in your pocket.”
* Gini Dietrich: “In most cases, your agency owner boss is not making any money.”
* Chip Griffin: “Too often, it’s not so much that the employees feel that they’re being underpaid. It’s that they feel like they are not being respected sufficiently.”
* Gini Dietrich: “It used to really bother me that I would train interns to have them go work for other agencies. And then I realized that if we treated young professionals well, we were going to see that benefit us in the long run.”
Related
* What to think about when starting your agency
* ALP 1: Starting your own agency
View Transcript
The following is a computer-generated transcript. Please listen to the audio to confirm accuracy.
Chip Griffin: Hello and welcome to another episode of the Agency Leadership Podcast. I’m Chip Griffin
Gini Dietrich: and I’m Gini Dietrich.
Chip Griffin: And Gini, you know, today I think that, that I’m going to just, I’m going to ditch you on this podcast. I’m going to go it on my own. I’m going to, because I can make so much more money. I can take all of the money that we’re currently getting for this podcast and I can take it all for myself.
Yes, you can. That’s how it works, right?
Gini Dietrich: Totally. How it works is exactly how it works. We, we saw a, conversation on Threads of all places, about a young professional who said my salary was 52, 500 at a creative agency. I asked for a raise due to my higher performance. Management said, we’ll think about it.
I left the job, started my own creative business. I made 56, 000 in the next six months. There’s often more risk staying where people don’t respect you, he says. What’s amazing about this conversation, though, are the comments, because, you know, you’re, you’re not supposed to read the comments, but. They’re pretty amazing on this one.
Chip Griffin: The comments were absolutely fabulous on this.
Gini Dietrich: Yeah.
Chip Griffin: And the original poster, you know, got into the back and forth of some of them as well. Which doesn’t always happen. Sometimes the original poster just sits back and lets the comments fly. Yeah. But in this case, they decided to engage. And look, I mean, this is probably true of some of our listeners, right?
Maybe they,
It must be nice to own an agency because then you’re earning the big bucks, right?
Many agency employees complain that clients pay so much more than they are making, so the owner must be reaping a huge profit.
It makes it easy to think that setting out on your own and working for clients directly is the right answer.
In this episode, Chip and Gini discuss the realities of quitting your job to start your own agency, emphasizing the importance of understanding the costs of owning a business, and how as an owner it’s up to you to communicate transparently to your team how revenue is not the same as profit.
Key takeaways
* Chip Griffin: “Revenue does not equal what’s in your pocket.”
* Gini Dietrich: “In most cases, your agency owner boss is not making any money.”
* Chip Griffin: “Too often, it’s not so much that the employees feel that they’re being underpaid. It’s that they feel like they are not being respected sufficiently.”
* Gini Dietrich: “It used to really bother me that I would train interns to have them go work for other agencies. And then I realized that if we treated young professionals well, we were going to see that benefit us in the long run.”
Related
* What to think about when starting your agency
* ALP 1: Starting your own agency
View Transcript
The following is a computer-generated transcript. Please listen to the audio to confirm accuracy.
Chip Griffin: Hello and welcome to another episode of the Agency Leadership Podcast. I’m Chip Griffin
Gini Dietrich: and I’m Gini Dietrich.
Chip Griffin: And Gini, you know, today I think that, that I’m going to just, I’m going to ditch you on this podcast. I’m going to go it on my own. I’m going to, because I can make so much more money. I can take all of the money that we’re currently getting for this podcast and I can take it all for myself.
Yes, you can. That’s how it works, right?
Gini Dietrich: Totally. How it works is exactly how it works. We, we saw a, conversation on Threads of all places, about a young professional who said my salary was 52, 500 at a creative agency. I asked for a raise due to my higher performance. Management said, we’ll think about it.
I left the job, started my own creative business. I made 56, 000 in the next six months. There’s often more risk staying where people don’t respect you, he says. What’s amazing about this conversation, though, are the comments, because, you know, you’re, you’re not supposed to read the comments, but. They’re pretty amazing on this one.
Chip Griffin: The comments were absolutely fabulous on this.
Gini Dietrich: Yeah.
Chip Griffin: And the original poster, you know, got into the back and forth of some of them as well. Which doesn’t always happen. Sometimes the original poster just sits back and lets the comments fly. Yeah. But in this case, they decided to engage. And look, I mean, this is probably true of some of our listeners, right?
Maybe they,
22 min