Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Josh Mangum, Founder and CEO of WiT Group, located in Charlotte, NC, USA.
What's your business, and who are your customers?
WiT Group is a performance-based digital marketing agency that uniquely provides online advertising on a pay-for-performance basis. Our customers range from start-ups to Fortune 100 companies, but the unifying characteristic is that our clients are looking for RESULTS.
Tell us about yourself
I began working on my business out of desperation - I graduated in 2008 at possibly the worst time in recent years to graduate with a marketing degree. The only way I was able to find work was to teach myself digital marketing, in which there were very few legitimate experts, and to offer to provide my services on a pay-for-performance (commission) basis. I am motivated each day by thinking about that younger version of myself, eager, slightly better hairline, and desperate for a client to give him a chance. That was hard; compared to that, running a 7 figure agency is easy.
What's your biggest accomplishment as a business owner?
Learning how to manage and motivate people. This was one of my biggest struggles and continues to be something I have to work on every day.
What's one of the hardest things that comes with being a business owner?
The accountability for anything and everything produced by the agency. Ultimately our actions are a reflection of my leadership ability and the leadership team's decision-making - good or bad. We practice extreme accountability, and sometimes that comes with hard pills.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Lead by example and find ways to motivate, not intimidate your team. Develop your leadership ability every day.
- Document process and develop SCALABLE practices. Businesses scale when you can resell a product or service over and over again - not when the same effort has to be produced on every scale. Templatize your business as much as you can, even if the solution is bespoke.
- Find a trustworthy CPA and a good business attorney; they will cost you hundreds and save you thousands!
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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