> There's nothing wrong with the agency business, but it'd be a smart bet to use at least some of the proceeds into building something long-term. Some agencies, notably 37signals, have been quite successful doing that. Most, though, never do it.
I've been part of a few agencies that spent a lot of time and money trying to build products. It is a different focus and hard to pull off when you are used to the hustle of agency culture.
Two better options in my mind:
- selling a recurring service related to the agency's work (hosting for a webdev agency, for example)
- productized services related to your work that are more custom than a full product, but more scalable than typical agency work
I've been part of a few agencies that spent a lot of time and money trying to build products. It is a different focus and hard to pull off when you are used to the hustle of agency culture.
Two better options in my mind:
- selling a recurring service related to the agency's work (hosting for a webdev agency, for example)
- productized services related to your work that are more custom than a full product, but more scalable than typical agency work