Here's Why Your Agency Will Never Scale (The Real Problem) | E368

About this episode

Matthew Duhig shares his experiences and contrarian beliefs about building and scaling a business.

Setting up a business is a major life decision that should not be taken lightly—it is incredibly painful. The ups definitely outweigh the downs, but the downs can be dark. Having a co-founder makes all the difference. Matthew Duhig, CEO and co-founder of FX Digital, started the business at university with his co-founder Tom, to build a website for his sister's bridal shop for free. Fifteen years later, they've grown from £1.5M to approaching £10M revenue, from 20 people to nearly 80, and they've built connected TV applications for major media and sports companies. Along the way, they had one major near-death experience when a single client became 80% of revenue, then in-housed the work down to 60%—leaving Matt and Tom with no personal wealth or assets, living together, staring at the barrel. But they believed in their proposition, backed themselves against the wall, and won 4 of 5-6 bids they needed to win, which launched them into major tech company work and one of their best years ever. In this episode, Matt reveals his four contrarian beliefs about building businesses: (1) Running a business is incredibly painful and decision should not be taken lightly; (2) Vision comes from…

People in this episode

Host: Dominic Monkhouse

Guest: Matthew Duhig

Topics covered

• business growth
• entrepreneurship
• co-founders
• risk management
• agency scaling

Keywords

• agency scaling
• entrepreneurship
• business pain
• co-founders
• risk reduction

Mentioned in this episode

Organizations: FX Digital

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