I made 2 PAINFUL agency MISTAKES...here's how to avoid them

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In this eye-opening video, I reveal two costly mistakes I made as an agency owner that cost me thousands and valuable time. Learn from my experiences to avoid similar pitfalls and safeguard your business from unexpected setbacks.
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Vendasta is a leading platform for channel partners to provide digital solutions to small and medium-sized businesses, or SMBs. Vendasta provides channel partners with an end-to-end platform to scale and a curated marketplace of products and services to sell, both of which are tightly integrated into an operating system that is delivered to SMBs.
00:00 Introduction
00:36 Mistake 1
04:54 Mistake 2

[@markeenyos]

The same thing happened to me but luckily I got paid by the department and I’m now one of their official vendors. I’ll use the deposit strategy from now on though 🙏🏼

[@psychicmarketingblueprint]

Very good points. I have always and still do collect full payment up front. Saves any potential hassle.

[@vishalteckchandani2173]

Yep - after these experiences I can completely understand why.

[@smartmarketingpros]

Excellent points for a solopreneur like myself. I appreciate the insights.

[@vishalteckchandani2173]

Thanks so much!

[@EdwardSedgwick83]

Definitely have your paperwork in place. It is amazing how much work does get done without the bureaucracy, but even beyond legal reasons, it's good to setup expectations for both parties before the work commences.

[@vishalteckchandani2173]

For sure, it's important that agencies protect themselves!

[@robertkadar6856]

We almost get 100% of our invoice paid upfront. Too much risk otherwise. Did you have any written agreement with your client contact? Emails even? If so you could get a lawyer to write up a complaint and threaten to sue. You should get paid for your work.

[@vishalteckchandani2173]

@@robertkadar6856 100%!? Wow. I know influencers charge 50%, but I haven't come across 100%. Do your clients/prospects express hesitation; what happens if a project doesn't pan out the way they were expecting but you've already been pre-paid? Regarding the second point - yes! Everything was in email, and luckily the procurement department got back to me several days after this video was published telling me that they would honour their word and pay me out!

[@wellfounderpodcast]

These are excellent tips. Thanks for sharing. I've got a question tho. How do you recommend forming relationships with multiple stakeholders?

[@vishalteckchandani2173]

Hey friend, here are some tips: 1) Your primary contact will often mention in your meetings that "so and so looks after this and that." I now capitalize on those moments and ask: "Oh that's awesome. Can I meet 'so and so' and then they can just tell me what they want from the project directly so you don't have to manage these conversations and waste your time." They ALWAYS say yes, because they don't want to be middle-manning, and they feel good because they're connecting me to someone else in the business who I am helping. 2) Building on previous points, I would ask these other contacts you've been introduced to for projects or if they need help with the specific thigns they look after (always CC in your primary contact). They always say yes, or they start actively thinking about you when marketing stuff comes in mind and want to meet you directly. Take those opportunities - then you literally have multiple primary contacts who all love working with you. 3) I would just openly ask: "Hey, in case you take off in an emergency, maternity/paternity leave or decide to no longer work for your company, who should I get in touch with? Could I have a quick intro meeting with them? That way it will minimize disruption should there be any changes in the org."

[@wellfounderpodcast]

@@vishalteckchandani2173 Thanks so much! Very helpful tips

[@Rowafaedits194]

Can i edit YOUR KZbin VIDEOS?

[@Vendasta]

Sure! Budget is $20. JK! Rowafa, I would have expected to see some samples when I clicked through to your channel.... instead.... 0 videos! Get some samples up there!