Rockerbox's first successful business line was a managed service media business. Since launching the business line in 2014, it's generated over $25 million in gross revenue and saw 6 straight years of increasing net income (profits).
When we started the business I had no idea what a managed serviced media business was. I didn't know what the term IO meant despite having worked at AppNexus for 3 years. I had never been into an agency let alone pitched or sold anything in my life. I had never thought about cash flow or considered invoice factoring. In short I had no idea what I was getting into.
Over a series of posts I'll walk you through the basics of running a managed service media business. My hope is that these posts will help you succeed, should you choose to launch your own managed service media business.
- What is a managed service media business?
- How does the business model work?
- Who is your client?
- How do you get paid? What issues will you face?