Ray Corcoran: 10+ years of lessons learned from building his marketing agency Groe

Welcome to Where Are They Now, a mini-series where I talk to former clients and friends from yesteryear to learn about their progress since we last talked business five years ago.

In this conversation, Ray Corcoran shares his journey from working in customer service to becoming a successful marketing agency owner. He discusses the importance of learning from failures, building a steady pipeline for business, and the strategies he used for content creation and audience engagement. Ray emphasizes the significance of consistency in marketing efforts and the need to focus on the right audience rather than chasing mass appeal. In this conversation, Ray Corcoran shares his journey in business, emphasizing the importance of understanding audience engagement, the challenges of expanding services, and the significance of owning one's value in pricing. He discusses the evolution of his agency, the necessity of specialization, and the strategies he employed to build strong client relationships. Ray also reflects on the balance between running a lifestyle business and achieving financial success, while highlighting the role of motivation and energy management in maintaining productivity. He concludes by inviting listeners to connect with him online for further insights.

Takeaways

• Ray transitioned from customer service to marketing after realizing his strengths aligned with marketing.
• He learned more about marketing through self-employment than in formal education.
• Building a business requires a steady pipeline of clients and consistent marketing activities.
• Failure in early business ventures taught him valuable lessons about the importance of planning.
• Content creation should focus on providing value to the right audience, not just seeking likes.
• Networking and building referral relationships are crucial for business growth.
• Consistency in posting helps maintain audience engagement and reduces performance anxiety.
• Understanding the metrics that matter is key to assessing content performance.
• It's important to separate emotions from content performance metrics.
• Building the right audience is more valuable than having a large following. Understanding your audience includes recognizing lurkers who may not engage publicly.
• Expanding services can lead to chaos; focus is essential for growth.
• Specialization can lead to easier revenue generation and less stress.
• Owning your value in pricing can significantly impact your business success.
• Building trust with clients is crucial for long-term relationships.
• A lifestyle business can still aim for high profits and meaningful work.
• Accountability and motivation are key to maintaining productivity.
• Energy management is vital to avoid burnout and stay focused.
• Micro wins can help build confidence and drive action.
• Being open to helping others can lead to future business opportunities.

Chapters

• (00:00:00) - In the Elevator With Ray Corcoran
• (00:01:07) - How to grow your business from the bottom of the phone
• (00:06:57) - Back to Dymocks With Corky
• (00:10:44) - Let It Rip
• (00:15:10) - How to Get Things Done in the Business
• (00:20:32) - The Right Bait For The Right Fish
• (00:22:27) - Posting Consistently
• (00:34:35) - Were there any major step change moments in the business
• (00:38:27) - Writing Lessons From ChatGPT
• (00:39:19) - How to Get Rich in the Real Estate Business
• (00:42:34) - Mixed emotions abou