The Key To Sustainable Digital Agency Growth

Updated on

There are many metrics to look at the economic success of a nation, from GDP, to inflation rates, to average household income. One metric that isn’t thought about as much in modern contexts is the state of small businesses.

These businesses have shrunk in size, family owned local stores being overtaken by the larger corporate goliaths in most cities today.

Although still, everyone wants to advocate for small businesses. It’s the American dream, it’s one place where an individual can truly make a living for themselves. Although it is hard, and it has only gotten harder as things like COVID have risen in prominence. 96% of all small businesses were affected in some direct way by COVID and the pandemic.

Get The Full Henry Singleton Series in PDF

Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Q3 2022 hedge fund letters, conferences and more


Find A Qualified Financial Advisor

Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Almost 30% of those had to completely shut down. And while the closure rates did improve by 2021, the damage was already done. Most small businesses today are just focused on surviving, they want to regrow if they were around pre-COVID. And if they came around post-COVID they want to set themselves apart.

One option that has made that process a lot easier for a lot of small business owners is going digital. 45% of small businesses today are planning to move into a digital future. And in 2020 online microbusinesses boomed in a way never seen before. It seems that as physical small businesses continue to struggle and disappear, digital ones are taking their place.

This is unsurprising when considering the average responsibilities a small business has to attend to. Small businesses are defined by its lack of employees and the initiative its owner has to take. This means from sales to clients, to even delivery, many small business owners have to take care of it all.

Digital Agency Growth Is Key For Small Businesses

It’s then unsurprising when most small business owners can’t afford to take breaks or go on vacation. Putting a gap in their business could spell immediate failure or at the very least a period of vulnerability that many business owners won’t risk. Digital businesses can get around this in a pretty prominent way. Digital agency growth is key.

Accessibility, simplicity, and practicality are all majorly improved with a digital business. Suddenly the business owner can go on vacation and still keep a watchful eye with their laptop. Digital businesses also tend to have an easier time with paperwork and accessibility due to the lack of physical hassle and travel time.

And maybe most importantly, digital businesses can utilize external services to help stay on track. Services like ScaleMap, for example, create a business system that the owner can use to clearly delegate work and to analyze their own business.

Instead of going about it all alone, business owners can at the very least utilize the watchful eye of other digital services. This is why small businesses are moving to be digital. It’s the future, and importantly it’s a more reassuring future than the physical present.

Digital agency growth

Infographic source: Scale Time