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Is Starting a Social Media Marketing Agency A Good Idea (buying a course and learn)

Yaya

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Oct 20, 2019
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Hey future millionaires!

I'm thinking of starting a Social Media Marketing Agency (SMMA). But I don't know if this business model drives towards the law of effection. Is this road meeting all five commandments? I'm not really sure if this road satisfies ALL five Fastlane commandments, which are: Control, Entry, Need, Time, Scale.

Well, my plan is to learn by a mentor by buying a social media marketing course. The problem with this, in my opinion, is that there are so many $997 courses out there teaching you how to run "simple" FB ads for local businesses. And to me, it seems that FB ads are oversaturated and the cost per click and lead are rising. I know the fact that there are millions of businesses out there so people say that this marketplace will not be oversaturated. But imagine if there are 30 gyms in a city and every gym has a social media marketing expert running FB ads for them to get results, this will be the case soon because of all these courses out there teaching this same kind of stuff.

I think that this business model satisfies every commandment except for the commandment of Entry. The reason for that is that the entry barrier is low, everyone can get into this social media marketing space and learn by buying one of those hundreds of courses out there. This leads to that the competition rises and the road weakness. And you all know that easy access roads carry more traffic. More traffic generates higher competition, and higher competition creates lower profit margins for the participants. And business with weak entry operates in saturated marketplaces. Therefore exceptionalism is required to overcome weak entry barriers.

And also I want a mentor that actually practices what he teaches. Because why would I take advice from a person who only makes money by selling a course if this person does not do what he teaches?

Do you think it's good to buy a course like this and get into this business model? Please share your opinions :)

I mean there are still web designers out there making six figures creating websites for companies even if the internet came over twenty years ago. This is because the need is there. There are so many businesses out there and start-ups coming up every day. But don't forget these people have to be exceptional in what they are doing because the competition is real. But I think it's hard to compare this type of service with marketing in terms of social media marketing because of the marketplace and the constant changes in the world of marketing.

I'm so confused right now so I would really appreciate it if you can share your thoughts on this.

Thanks,
Yaya
 

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MattR82

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I asked someone that does fb ads recently if they could suggest a course to help me get familiar with, but not actually sell it as a service to clients with me doing the work. Heard that a lot of the courses out there are not great and old content anyway.

Maybe get started with the facebook blueprint course they put out. I think it's free? See if you like it.
 

Andy Black

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Damn. My course is too cheap.
 

Spikeroo

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You do realize you don't need a $997 course to learn Social Media Marketing. I didn't. I did the free facebook ad tutorials when I first started. Between that and browsing Youtube videos, I worked my way up through trial and error ( which you will still experience, even with a $2000 course ). Don't spend $1000 on a watch, just to tell what time the bus is coming.
 

pkom79

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The problem with this, in my opinion, is that there are so many $997 courses out there teaching you how to run "simple" FB ads for local businesses.
You really don't need a $997 course to learn how to run ads. There are plenty of free resources that will teach you all of the technical stuff you need to know. Paid courses don't contain any secrets.

This being said, you will need some experience to know run effective campaigns for clients. It will require a lot of trial and error. You can speed up the process by finding an experienced mentor/coach.
 

Einfamilienhaus

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I also run a small SMMA and you will also automatically learn a lot of people who run the same business. In my experience many people start with SMMA because they have a mentor who teaches them how to do it. They pay money for it. But if you take a closer look what their mentor is really doing you will find out that the only thing his company is promoting is How to run a SMMA.

So, to teach sombody how to do something is much easier than really be active in what you teach.

That's why you have coaches/mentors who teach how to teach others.

Really, everybody can be a coach/mentor/motivational speaker or run a SMMA.

So my advice is dont look for a mentor. If you cant help yourself and if you depend on others why should somebody help you?

I think that one of the entrepreneurial pillars is to grow up and learn how to help yourself.

If you are actively doing something you will automatically meet people on your way who can inspire you for more and yes, also help you with good advices.

The other thing is. On my journey of building a SMMA I learned pretty much fast that many competitors dont really know how to run a SMMA. The most dangerous are the ones who want to make learning progression of the cost of the customers' money.

Like, they never have run a Google Ad because it is expensive and very difficult to learn. But at the same time they offer Google Ads Management because it's not their money which is lost.

Gaining credibility as a SMMA is very hard and deliver results much more.

On one side you have customers who are expecting miracles from you and on the other side are your skills. Be honest with your customers what you can do for them and which results are possible. Then they will love you and recommend you to other new clients. Especially as a SMMA you will depend on word of mouth because many of the business owners have made terrible experiences with "Social Media Experts".

The other thing is; I don't understand why do you want to run a SMMA? Because you have seen a YouTube video about "10 Tips how to make money fast"?

Dont waste your time if you dont know what the bigger goal of your business journey is.
 

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