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Journey to $100 Million

Author: Erik J. Olson & Kevin Daisey

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Accelerate your entrepreneurial journey by learning from our mistakes instead of making them yourself.

Join Erik J. Olson and Kevin Daisey, the founders of Array Digital, through their ups and downs and lessons learned as they grow their digital marketing agency to $100 million in revenue. In each daily episode they'll discuss what's working now, and what's not. They'll share entrepreneurial and marketing tips and tricks picked up while becoming a dominant player in the ever changing digital marketing industry.
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All My Coaches

All My Coaches

2019-11-1900:05:26

Do you work with a business coach? Erik has realized that there are a lot of blind spots in business and entrepreneurship and that’s where a business coach becomes very helpful. The very first business coach that we brought in was Zack Miller, a local author of the book Anomaly. He meets with the management team and me every other week. He meets with the team first and then he finishes with me where he debriefs me on general themes that he picks up from the team. He focuses a lot on efficiency and marketing--even though we are a marketing company, it’s always helpful to get an outside perspective on areas where we could improve. Now, Jeff Ski is someone that I met at Alexa Conf back in February. He puts out a series of tweets that say “hire me and I will double your revenue in 90 days.” So, of course, Erik questioned him and Ski guaranteed these results. We hired him and he’s taught us all sorts of things that we haven’t been exposed to in the past including finding the one weakest link in our business, fixing that, and then moving onto the next one. Erik is also part of an organization called the Entrepreneur’s Organization (EO) and he’s part of the local chapter and in that chapter, they break up into forums which are between 6-10 members and discuss all the things happening in their businesses so that the other members of the forum can provide their insight. The last group of coaches is the people that he interacts with on a daily basis in business, one of them being his business partner Kevin. Sometimes it’s subtle while other times it’s in a bigger group setting where Erik will come in with some big idea and the team has to talk him off the ledge and downsize those ideas a bit. No matter the circumstance, there’s always something to be learned. There’s a lot of different forms of coaching. The key is to find people you trust and when they give you constructive criticism, don’t think that they’re hating on you. Consider it feedback; they’ve got different insight, different experiences that you could potentially benefit from. —Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
We have recently been in a sales slump, despite lots of meetings, prospecting, etc. The wrong thing to do during a sales slump is to start signing clients that are not a fit simply because you want to hit some numbers. It’s easy to fall into that but don’t start to sign clients that are going to frustrate the team, drop our NPS score, sign clients that won’t really work effectively with us. One of the great things about having monthly recurring revenue is that we do always have activity and an inflow of cash. And while we are trying our hardest to get some new sales, we don’t want to stray from our goals and values in order to do that. —Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
Erik was recently invited to speak at an organization he used to be a president of, the Project Manager Institute’s local chapter. They were having their 25th anniversary as a chapter and Erik was invited to speak about his PMI experience. Erik showed up, there were no slides allowed, just him, a microphone, and a crowd. It was the first time he’s done that type of talk where it’s basically just storytime with Erik J. Olson. He talked about a time when he needed more out of his career which is when he went out and found PMI, his people. They had reduced all of their project management wisdom down to a book which was a goldmine. PMI was there for him again when he was out of a job and was looking for the next chapter of his life and he was able to lean on the chapter and learn a lot from them; this was also the time when he became the president of the chapter. It felt good to give back that story about why it was meaningful in his life and the major role the people had played.—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
Anytime someone asks Erik what his favorite business book is, he almost always says Profit First. It’s written by Mike Michalowicz and it’s a fantastic book that Erik can’t stop talking about that’s completely transformed his relationship with the funds in the company.Before reading this book, the company had one bank account called Operating Expenses and everything went in and out of there: all the revenue went in and all the funds for operating expenses came out of there. Erik and Kevin always felt weird about taking the profit out of there at the end of the quarter because they had no idea what that money represented or what ticking time bombs were out there where money was owed.Well, after implementing Profit First, they were no longer scared. As an entrepreneur, you are naturally inclined to not pay that much attention to your accounting reports because they’re frankly not reality. What really matters is how much money is in your bank account at the end of the day. This book says that this is our natural tendency so you should create more accounts based on how it’s going to be used.If you’re having money issues or concerns, take a look at Profit First.—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
Here at Array Digital, we’re pretty lenient; we offer PTO and the opportunity to work from home when necessary plus 4 remote employees who work from home every single day. The majority of the team is expected to be in our Chesapeake office from 9-5 because that’s when our clients are working. Sometimes, though, we need to work from home when it makes sense. This issue is, however, when we get distracted at home because it’s easy to do. If you’re at home, you have to actually be working. The other issue is when employees work late hours from home, getting a lot of work done, working after hours but no one actually knows you’re doing any of that; you’re getting no credit. That’s a con of working from home.Do you have remote workers or people that work from home? An office is very valuable and it’s worked well for us but we’re not sure that it’ll be sustainable as we continue to grow our company and team.—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
Today, Erik calls out a few of Array Digital’s employees but not for what you might think, but because they are great employees. Each one has had a situation where they were moving and would be leaving the company as a result but Erik and Kevin have talked them into staying even though it means they will be working remotely. Jason started working for Kevin back in the day and when he moved down to Orlando with his girlfriend, Kevin convinced him to work remotely because he’s a web designer...an amazing one.We also have Katya who was one of Erik’s early hires back at 80|20. Her husband got a job in Jacksonville and even though she started as an Administrative Assistant, she’s since taken on so many other responsibilities. Then we have Ryan who was actually hired as a remote web developer. And finally, we have Jamal, our Project Manager, who Erik hired as a software development tester when he was a senior in college. He takes care of all the onboarding and many of the client interactions. He recently moved to Nashville and is doing everything he needs to do from there except showing up for face-to-face meetings which we have the technology to work around.When you have a really good employee and they decide to move to a different location for whatever reason, they can continue to work for your company. Don’t let them moving physically out of the area stop you from keeping a really good employee that you want on your team. There’s so much technology that allows you to work around the fact that they are not physically in the office every day.—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
Quality Assurance

Quality Assurance

2019-11-1300:04:12

Quality is one of our core values at Array Digital. We now have a documented process for handling quality assurance. Of course, for every company, you’re going to mess up something, somewhere but we want to keep that to a minimum. This ensures we put out quality work and keeps us from getting in trouble with our clients.We have a process where someone completes a task for a client, another peer reviews that piece of content before it’s put out or sent to the client. It’s just a double-check that the work is good, it’s very simple.We also hold a lot of team meetings at Array Digital so that we can help each other with any issues we may have and to discuss plans and initiatives we have for clients. We have a ton of checkpoints, a lot of peer review, and I know that it saves us from a lot of issues with clients.Do you have a quality assurance plan? Are you putting out sub-par work? It’ll serve you very well to put together a plan with several checkpoints throughout to make sure you’re turning over your best work to your clients.—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
Erik has talked before about payment terms and the importance of getting the money your clients owe you as quickly as possible. Most companies ask for net 30 payments but that puts you into a cashflow bind. It would be ideal to have a net -30 but in reality, the best you can get is net 0 which means you get paid before starting the work. For us, we bill on the first of the month for that month’s work.We want all of our clients to pay by ACH. Recently we did an experiment and offered a 1% discount to people who decided to pay by ACH instead of by check (which is just a pain). Two of our 20 clients who were paying by check converted to ACH which doesn’t sound like a lot but it’s 10%. Would you prefer to keep that 1% or get your money upfront and sacrifice that 1%?It’s not good enough that you’re making enough money because you’re always going to run into cash flow problems. If you’re not doing ACH and you’re not asking for payment upfront, well, you have some improvements that you can make.—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
There’s an index you can do to quickly figure out who you’re A, B, C, and D players are on your team. Here’s how: Draw out a quadrant (four boxes) with ‘Core values’ on the y-axis and ‘Performance’ on the x-axis. In the top left box, you’ll put the letter A, then B in the next, C in the bottom right, and D in the bottom left. If you’re in the top quadrants, then that employee meets your core values. Across the bottom, if they are on the right side, then it means they meet performance. What you should look out for are the C players. They have a great performance but they don’t abide by your core values. What this looks like is an employee that’s cocky, knows he/she is great at their job but they’re not a team player; every one hates them, they don’t work well with the others. They will eat away at your A and B players who will get so sick of that C player that they quit their jobs. This person is called a “terrorist”; you need to identify them and get rid of them as soon as possible. So do this little exercise to identify people who need some coaching and training and if you have any C players; plus you can talk to your team. If they don’t straight up tell you who the C players are, they will at least hint at it.—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
Subscribe to Our Newsletter

Subscribe to Our Newsletter

2019-11-1000:02:00

Do you subscribe to email newsletters? We certainly subscribe to quite a few and some of them provide value while others don’t (in which case we unsubscribe). Today Erik lets you know about the newsletter we have here at Array Digital: sent out every 2 weeks, it includes the latest and greatest things happening in digital marketing as well as entrepreneurial advice. It’s complete with the ups and downs and how to take advantage of the things happening in modern marketing.You can subscribe. Of course, it’s free and it combines all of these into one email complete with all the gifs and memes to make your day brighter. So, what are you waiting for?https://thisisarray.com/about-us/newsletter/—Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.— Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.—For more information on the show, and to check out past episodes, go to journeyto100million.com!
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