People say I make $70,000 a month.
But the truth is, in July I couldn’t pay myself.
The untold story of how I destroyed my ghostwriting agency:
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From July of 2022 to March of 2023, my agency profits ballooned.
I was getting:
✧ 5 to 10 qualified leads per week
✧ Charging $5,000 - $12,000 per client
It was time to remove myself from the agency.
I delegated:
⇢ Sales calls
⇢ Content writing
⇢ Client communications
This was the beginning of my arrogant downfall…
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The 1st month of delegation went great.
We signed 4 new clients.
Adding roughly $30,000 of MRR to our bottom line.
I was free to finish prepping my cohort Digital Identity.
But over the next 5 months:
Both our $12,000 per month clients churned.
And our other clients started dropping like flies.
But I wasn’t paying attention to any of this.
I was on vacation in Miami…
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On vacation, I was anything but frugal.
Buying overpriced Star Wars merch from Disney World
Heck, I was coming back to a $7,000 net pay day anyways.
But when I got back, client work wasn’t done.
No pay day was in sight.
Confused, I audited our client list to see most of them had churned.
Our monthly income went from $70,000 to $13,500.
✧ I had team members to pay
✧ Operation expenses piling up
✧ And NO money coming in for 30+ days
As the founder of Ghostlii, I felt the need to own my f*ck up.
I paid our team and took no money home.
I hadn’t posted about ghostwriting in months, so I had no leads coming in.
My agency was legit dead.
With only 1 agency partnership keeping us alive...
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I was an imposter.
People see me as a “top ghostwriter” but at this moment anyone with a client was making more than me.
I got p*ssed off and went to work harder than I ever had before.
In the next 45 days, we
✧ Signed 5 referral partnerships
✧ Got our organic lead flow to 2 qualified leads per day
✧ Restructured the agency to focus on quality and sustainability
As of writing this, our revenue is back to $35,250 per month.
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Achieving success is hard.
Sustaining it is even harder.
Complacency and over delegation nuked my agency.
And tarnished my reputation with high profile clients.
↳ I refunded them to make things right.
But it’s never too late to learn from those mistakes.
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I feel a responsibility to be transparent with everyone who turns to my account for business and ghostwriting advice.
These highs and lows are the truth of business.
If you fail, use the negative emotions as fuel and bounce back.
Follow me
@TaylinSimmonds for more behind the scenes stories like this.
Until next time,
TS