How to Scale Your Business to 7+ Figures 

One of the most powerful ways to grow a business online is through digital advertising.  The trouble is, it can be confusing and super technical.  This level of complexity can cause entrepreneurs to either avoid it altogether... Or waste tons of money on ineffective ads.

 

Here I interviewed the CEO of 7-Mile Media, Aaron Parkinson.  The goal: to help demystify online advertising. Aaron was kind enough to share exactly how he was able to scale from nothing to over 7-figures per year in his agency.  Not only that, his work helps his customers do the same.  Win-win!

Digital Marketing since 2004

Parkey, as some call him, started his digital marketing career back in 2004.  Yep, before Google was even a thing.  He started out in affiliate marketing.  From there, he developed one of the world's first online marketing education platforms.  

 

Parkey then went through a phase of partnering up with creators to grow and sell businesses. But, four years ago he was ready for a new challenge.  So, he founded 7-Mile, his own marketing consulting agency.  In that time, he's grown from a single-man operation to a team of 50. 

 

His client load has also grown to 60-70 clients at a time with a waitlist.  And his monthly ad spend has grown to around $10 million across various platforms.  So you can say, Aaron knows what he's doing in the digital marketing space.

What got you here, won't get you there...

Parkey will be the first to tell you that he is a creator and promotor, not an operator.  At one point he even questioned if he was even capable of taking a company beyond $10 million in revenue. 

 

He didn’t think he had the skillset.  As the saying goes, “what got you here, won’t get you there”.  Aaron had to grow into the person who could do it.  And, he couldn’t do it alone.

 

As part of the process, he had to recognize that he was not an operations person and had to bring that role in.  A business needs systems and processes to grow.  Without them, trouble ensues. 

 

As an entrepreneur, it is important to recognize your own strengths and weaknesses.  Put yourself in the areas you are strong, and hire out where you aren’t.  

 

"Just because you can do something doesn't mean you should" is more than a cliche.  A business owner’s time is best spent on things they do well.  Or as some would call it, the Zone of Genius.

Drop the ego.

Aaron also advises dropping the ego immediately.  Failure to heed this advice is a one-way ticket to disaster.  Letting go of things you don’t do well and find talented people to do them is the only way to scale.  Trying to be superman is guaranteed to lead to burnout.

 

The other critical piece is to create a culture in your company that nurtures talent.  Release the need to second-guess staff (again ego) and compare them to you.  If you want to increase in both size and profits,  build a culture of communication and teamwork.  

 

In the quest for glory, one cannot ignore the dark side of business ownership.  Waking up early, staying up late, and putting out virtual fires at all hours and days of the week are reality.  It can be lonely if friends and family don’t understand the ups and downs business owners face.

 

The entrepreneur needs thick skin and an almost delusional view of the chance of success.  Statistically, most entrepreneurs fail. If you don’t ignore that, you finished before you even start.  

 

Starting a business entails sacrifice. Life and business are not always kind. Circumstances beyond your control can cause you to lose clients at the drop of a hat.  Mental and physical strength is a must for any entrepreneur who hopes to succeed.

 

Parkey emphatically recommends that businesses focus on their core strengths and core offer.  He’s seen firsthand the disaster that can strike when a company tries to add too many things.  Overwhelm and burnt customer relationships result.  Customers of years gone without so much as a meeting or explanation.  Entrepreneurs can’t afford to take their eyes off the ball. 

 

The silver lining in all this is that If you are good at what you do, you can charge a premium for your services.  Whatever they might be, you can charge a premium.

Leads and Sales are Everything

At 7-Mile, Aaron and his team have the metrics and know how to get results.  If things aren’t working, Parkey knows immediately based on the numbers, what it is that needs to be tweaked.  

 

Math is math.  It tells a story.  In advertising, understanding the metrics is crucial. How crucial? It's the difference between being profitable and flushing your money down the toilet.  

 

If you can profitably generate leads and sales for businesses, you are like gold. All businesses want leads and sales.  Getting them for clients is the most valuable job in the world, next to a heart surgeon. 

 

This is the stuff that creates generational wealth -for everyone involved. It fuels the economy. It creates jobs. Leads and sales are everything that the capitalist system is built on.  Anyone who masters that, masters, generational wealth.

 

Want the detailed metrics for advertising profitability?

 

Watch the YouTube version of this episode.  

 

Want our help to implement this in your business?

Shareable Quotes From the Podcast

How to Scale to 7 or 8 figures 1-1
How to Scale to 7 or 8 figures 4
How to Scale to 7 or 8 figures 3
How to Scale to 7 or 8 figures 2

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