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Why Agency Owners Should Invest In Other Businesses

Why Agency Owners Should Invest In Other Businesses

Marketing Podcast with Ben Young

Ben Young, a guest on the Duct Tape Marketing PodcastIn this episode of the Duct Tape Marketing Podcast, I interview Ben Young. He is the founder of Nudge, an analytics company, that was a commercialized product from his agency. Nudge helps you measure the performance of your digital properties through the lens of what people are paying attention to. With the retirement of Google Analytics, many are re-evaluating what options are out there. 

Prior to Nudge, he co-founded an agency in New Zealand that was the 8th fastest-growing business at the time. Today, he will explain why agency owners should invest in other businesses.

Key Takeaway:

Agency owners should consider investing a portion of their own capital into other businesses as a way of personal development and to gain valuable insights from different industries. By investing in other companies, they can learn from other founders, gain exposure to new sectors, and understand emerging trends. While it’s essential to prioritize investment in their own agency, diversifying their investments can make them better founders and provide additional benefits beyond just financial returns.

Questions I ask Ben Young:

  • [02:26] What do you mean by investing in other businesses?
  • [03:00] Agency owners are sometimes really invested in their own businesses. Shouldn’t they invest in their own business?
  • [07:45] How do you analyze an investment if you don’t even know some of the terminology and what it really means?
  • [10:29] Tell me a little about when you first started because you were an agency owner. Were you naturally drawn to maybe tools that you had used or tools that marketers use, or do you think that you actually got completely out of your comfort zone?
  • [14:27] As an agency owner, one of the best investments I ever made was in a company that was a good fit and provided a core service that we can sell to our clients. Where have any of your investments fit into that category?
  • [15:31] When people invest in things, the hope is that they’re going to make money out of this investment. Should there be a measurement or criteria of time in which they can see some sort of return or you can’t really calculate all the benefits of return?
  • [18:02] Can you give an example of one investment that was a disappointment, but maybe you learned something from it?
  • [19:52] Now, can you give an example of an investment that was a success and what you learned from it?

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This episode of the Duct Tape Marketing Podcast is brought to you by the HubSpot Podcast Network.

HubSpot Podcast Network is the audio destination for business professionals who seek the best education and inspiration on how to grow a business.