In this episode, Zach talks to Prerna and Mayank Malik about Content bistro.
They run a small copy agency that generates over $600,000 a year in revenue with just them and a small team of entrepreneurs.
They have worked with big names like Pat Flynn and have been featured on Forbes, SPI, etc.
One of the interesting aspects of their business is how systematized it is: they pay all their contractors flat rates for projects and have their process so regulated that Prerna’s effective hourly rate (EHR) for writing is d ‘around $1,000/hour.
Tons of interesting ideas in this episode — enjoy!
You can get all their best business and writing advice at https://contentbistro.com/newsletter/
- 12:00 a.m. – 2:00 p.m. — Zach introduces Prerna and Mayank Malik from ContentBistro.comhighlighting their commercial success and their diversified service offerings.
- 2:00 – 4:00 p.m. — Zach sets the stage for the podcast’s goal: exploring different business structures and models. He points out that many freelancers want to move from one-off work to a more systematic approach.
- 4:00 – 6:00 p.m. — Prerna explains her clientele, emphasizing that she caters to a diverse set of businesses. They prioritize their clients’ ROI and don’t limit themselves to a specific niche.
- 6:00 – 8:00 — Zach asks about the challenges of scaling custom services, and Prerna responds by emphasizing the importance of optimizing their process.
- 8:00 – 10:00 — The discussion delves deeper into the phases of their writing process, particularly the importance of thorough research before actual content creation.
- 10:00 – 12:00 — Zach asks about the research process at Content Bistro and Prerna explains their method. She mentions that they have a specialist for customer interviews.
- 12:00 – 2:00 p.m. — Zach digs deeper into how research interviews are conducted, while Prerna clarifies the roles of their team members.
- 2:00 p.m. – 4:00 p.m. — The conversation turns to Prerna and Mayank’s program offerings. Prerna explains her flagship “Ready to Sell” program and its two levels.
- 4:00 – 6:00 p.m. — Zach asks more about the program and Prerna provides details on what is included and where to find more information.
- 6:00 – 8:00 p.m. – Zach asks about team structure and roles, with Mayank describing their responsibilities and how they divide up tasks as a husband-wife team.
- 8:00 – 10:00 p.m. — Prerna explains her team structure, including current projects with a designer, VA, and research specialists.
- 10:00 p.m. – 12:00 p.m. — Prerna further develops the roles of her team members, including the course concierge. Zach then asks about the team’s pricing structure.
- 24:00 – 26:00 — Mayank and Prerna explain their internal hourly pricing method, which includes calculating shift hours and adding a markup.
- 26:00 – 28:00 — Discussion on the importance of communicating with entrepreneurs regarding rate increases and forecasting business expenses.
- 28:00 – 30:00 — Zach reflects on his past experiences hiring contractors and highlights the potential benefits of hiring qualified, albeit more expensive, consultants. Prerna emphasizes the importance of prioritizing customer experience.
- 30:00 – 32:00 — Prerna highlights the importance of delivering quality work and hiring competent team members; discusses prioritizing customer experience over contractor costs.
- 32:00 – 34:00 — Prerna and Mayank describe their outsourcing practices, emphasizing trust, due diligence when hiring, and ensuring mutual enjoyment in the working relationship.
- 34:00 – 36:00 — Zach highlights the benefits of working with established agencies and asks about Content Bistro’s profitability and operational costs.
- 36:00 – 38:00 — Mayank breaks down her business expenses, revealing that she keeps around 45-47% of her total income as profits.
- 38:00 – 40:00 — Further discussion on the breakdown of expenses, with subcontractors making up a significant portion and tools making up approximately 15-18% of total costs.
- 40:00 – 42:00 — Zach asks Prerna about their main sources; Prerna cites referrals, podcast appearances, mailing lists, blogs, and social media as her primary sources.
- 42:00 – 44:00 — Prerna emphasizes the importance of delivering high-quality work and ensuring an exceptional customer experience to generate organic referrals.
- 44:00 – 46:00 — Zach asks about the process of collecting customer testimonials; Prerna explains her two-tiered approach, involving an initial post-project application and monitoring of results.
- 46:00 – 48:00 — Zach calls Prerna’s business approach providing “exceptional concierge service.” Prerna agrees and expands on the value of intentional service and customer relationships.
- 48:00 – 50:00 — Prerna talks about her beginnings of sending cold pitches and the hard work required to acquire her first clients, with an emphasis on persistence and refining her process.
- 50:00 – 52:00 — Zach asks about Prerna’s cold pitching process; Prerna explains her personalized approach to outreach emails.
- 52:00 – 54:00 — Mayank describes using data to improve outreach success; Zach asks for recommended databases to find businesses.
- 54:00 – 56:00 — Zach seeks insight into Prerna and Mayank’s career trajectory; Prerna briefly shares their journey from blogging to business development.
- 56:00 – 58:00 — Prerna details the shift from social media and blogging services to copywriting and how their services have evolved since 2016.
- 58:00 – 13:00 — Prerna emphasizes the role of continuous learning and feedback in refining its business offerings and strategy.
- 1:00:00 – 1:02:00 — Prerna discusses the importance of debriefing after projects, both internally and with clients, for continuous improvement.
- 1:02:00 – 1:04:00 — Prerna details her post-project reflection and feedback processes; emphasizes joy in business.
- 1:04:00 – 1:06:00 — Zach asks about the challenges faced by international freelancers targeting U.S. clients, and Prerna shares her ideas on overcoming perceived disadvantages.
- 1:06:00 – 1:08:00 — Prerna reflects on personal challenges and the importance of maintaining a positive mindset.
- 1:08:00 – 1:10:00 — Zach and Prerna discuss the importance of English proficiency for non-native speakers working in non-writing fields targeting English-speaking clients.
- 13:10:00 – 1:12:00 — Prerna emphasizes the importance of perfecting your craft. Zach asks about the structure of their commercial offerings.
- 1:12:00 – 1:14:00 — Mayank shares the benefits of its varied services, aiming for a balanced week. Prerna reflects on their initial goals and how they have evolved.
- 1:14:00 – 1:16:00 — Prerna expands on the concept of “intentionally profitable living” and her business journey.
- 1:16:00 – 1:18:00 — Zach asks about scaling and running a Lean agency. Prerna shares recruitment and management advice.
- 1:18:00 – 1:20:00 — Mayank and Prerna discuss the importance of aligning values and attitude within a team. Zach then asks about the balance between their professional and personal relationships.
- 1:20:00 – 1:22:00 — Prerna discusses setting clear work-life boundaries and shares tips for managing work-life balance.
- 1:22:00 – 1:24:00 — Prerna and Zach dig deeper into their content creation strategy, tackling SEO and tailoring content to client needs.
- 1:24:00 – 1:26:00 — Zach digs deeper into the importance of key hires. Prerna and Mayank emphasize hiring based on time-saving and revenue-generating aspects.
- 1:26:00 – 1:28:00 — Zach asks about potentially missing questions in the discussion, which leads to a discussion about choosing to offer a combination of services.
- 1:28:00 – 1:30:00 — Closing remarks, as Prerna gives a perspective on business growth and answers a question from the chat.
- 1:30:00 – 1:32:00 — Prerna discusses the importance of guiding clients and reiterates her stance against using templates for their content.
- 1:32:00 – 1:33:50 — The conversation moves to social media platforms and the benefits of being active on platforms like Instagram, ending with a discussion of the benefits of the Content Bistro newsletter.