Episode 605 Agency Chat: Mindset, Growth and Systems With Ryan Waterbury
Show Highlights
The source is an excerpt from a podcast discussion between Rob Cairns and Ryan Waterbury on an episode of “agency chat,” focusing on the challenges and strategies of managing and growing a business. The conversation centers on the crucial role of mindset for business owners and the difficulty of delegating tasks and letting go of control, especially when hiring others. Both speakers emphasize the importance of working on the business (strategic development, systems, and processes) rather than just working in the business (day-to-day tasks), advocating for scheduled time to focus on growth. They also discuss the need to re-evaluate and update systems, including contracts, client onboarding, and toolsets, suggesting that AI can now automate certain tasks to save time and reduce the need for manual work or new hires.
Show Notes
Introduction:
- Ryan Waterbury joins Rob Cairns for another episode of Agency Chat.
- The episode begins with a discussion about mindset, which is key to being a business owner.
Mindset and Letting Go:
- Ryan shares his journey from executive management to solo entrepreneurship.
- He closed his agency’s contract workers in 2020 due to the pandemic and is now looking to grow again.
- The most difficult part of growth is hiring someone to do what you are good at and “letting go.”
- Business owners, especially creative professionals, often struggle to delegate because they can do the work faster and to a higher standard.
- Letting go allows a shift from doing the work to a mentoring and coaching role, which frees up time for other tasks.
Working On vs. Working In the Business:
- A common mistake for entrepreneurs is focusing on day-to-day tasks (“in the business”) and neglecting strategic work (“on the business”).
- Rob gives the example of retail businesses getting busy during the holidays and then not preparing for the quiet period in January.
- It is crucial to work on the business consistently, even when busy.
Systems and Processes:
- Both Rob and Ryan emphasize the importance of having a proper system for all aspects of the business.
- Ryan realized he was doing things out of scope for clients and realigned his contracts.
- He now uses his own business as a guinea pig, updating his Google Business Profile and other systems, which led to a 1,000% increase in visibility and a $10,000 sale.
- This success serves as a case study for clients.
Time Management and Delegation:
- People need to schedule time to work on their business, treating it like a client appointment.
- Rob suggests blocking out time in a calendar for specific business development tasks.
- To-do lists are not enough; tasks must be scheduled to get done.
- Ryan organizes his calendar with different categories and schedules “focus blocks” for catch-up time.
- He categorizes tasks into:
- High-value, high-enjoyment (do yourself)
- High-value, low-enjoyment (outsource)
- Low-value, low-enjoyment (let go of clients/services)
- The goal is to concentrate on tasks that make money and that you are good at.
The Role of AI and Tools:
- It’s worth taking time to re-evaluate and update your toolset.
- Ryan has started using a new AI-powered SEO tool that saves him 5-10 hours per week.
- AI tools are becoming more usable and specific, helping to automate parts of the workflow.
- AI can take on data analysis and other time-consuming tasks, freeing up time without the need for a new hire.
- It is a good idea to identify pain points and see if there are AI tools that can help.
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