It is very rare for a digital agency to succeed with only $250 in the bank but King Kong sabri suby managed to do the impossible. When he launched King Kong digital agency, from scratch, there was no rich relative that would back him up. There were no savings or venture capital but the digital agency was able to generate millions of dollars in revenue.
It is difficult for a digital agency to compete with well-known brands in the industry but Sabri Suby used key strategies to ensure business growth. Sabri Suby targeted potential clients that compose 97% of the market. These clients are not active buyers that are the focus of the attention of competitors.
There are potential clients beyond the 3% who are actively looking at what digital agencies can offer. These customers are more likely to choose someone that they know and to be able to build a relationship, it is important to start early in the process. Knowing the potential clients and what makes them tick is the first step in the process.
Sabri Suby introduced the digital agency to strangers and informed them of the value that can be added based on their needs and principles. The next step is to nurture the relationship until they are ready to trust the brand.
When Sabri Suby stumbled on the 80/20 rule or Pareto rule, everything changed. According to Pareto, an economist, 20% of activities can bring 80% of the company’s revenue. The principle is not usually applied by businesses but it holds true in many aspects. 80% of business activities can be disregarded. They can either be outsourced or delegated to others so that the attention can be focused on activities that generate revenue. In short, 80% of the business revenue comes from 20% of the revenue-producing activities.
When King Kong sabri suby started the digital agency, he was working 18 hours a day. He was not generating revenue because being busy does not mean being productive. It is difficult to focus on important tasks because there are millions of other tasks seeking attention. He started to automate and delegate until things “exploded.”