Chris Thomas tells us how to create a million dollar business with transparency
Chris Thomas shares his journey from consultant to founder of Yonder Agency, a full-service agency that caters specifically to small-to-medium businesses.
Three key juicy bits from this week’s episode:
- Charging for your experience, not your product
- Playing the long game in business
- Niching down to earn more for your time
In this episode we discuss:
00:48 An introduction to Chris Thomas
- Something most people don’t know about Chris [01:06]
02:49 Chris’s consulting career before Yonder Agency
07:08 Running $3-500,000 app campaigns
- Chris’s typical margins for his projects [08:10]
11:12 Knowing the value of your time and expertise—and charging accordingly
- The moment Chris decided to price higher for his website design service [16:28]
22:21 Why Chris changed his business model after working on a number of six-figure contracts
27:55 From solopreneur to owner of an agency
33:56 Why Chris did not hire for Yonder in the first six months
36:44 Chris’s biggest failure in business and lessons learned
40:22 Why Chris finally decide to hire for Yonder
46:14 What’s next for Yonder?
Links Mentioned:
Quotes
- I really wanted to bring the big city strategies to small-to-medium businesses. It’s literally the same stuff. You need a good website. You need a good email campaign. You need some ads. You need to draw people in and find the right audience.
- People pay for good design. People pay for good products. We shouldn’t be afraid to upcharge for our good design or our good products.
- When you find your niche and you find what you’re good at, you’re actually going to make more money than when you had a short payday.
- Think about a strategy that’s going to cause people to want to work with you; not about how much work you can to be a million dollar business. If you grow too fast, you’re going to crumble at the knees because you don’t have a process to take on multiple clients.
- Be the same person you are at work that you are at home.