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Scott Krady wasn’t sure if he could turn his side-hustle into a full-time business when he took on a few marketing projects to supplement his income from his job in marketing.
But today, he brings in more than $1 million in annual revenue at what has become Magnitude, Inc., a full-service marketing communications and consulting firm in Irvington, N.Y.
Acting as an outsourced chief marketing officer to early-stage, mid-market and growth companies, Magnitude has attracted clients in industries including cryptocurrency, artificial intelligence and dispute consulting. Krady built the firm to seven-figure revenue as a solopreneur, relying on help from a team of experienced contractors, and recently grew it to eight traditional employees.
Krady’s story offers a crash course in transitioning from corporate life to running a professional services business. Here’s how he pulled it off.
Scott Krady transitioned gradually into running his full-service marketing agency, Magnitude, Inc. … [+] Now it’s breaking 7-figure revenue.
Magnitude, Inc.
Give yourself time to learn the ropes. Krady dipped a toe in the water of running a business when he took on a few freelance projects in 2018. At the time, he was working full-time at a corporate job where he created integrated marketing and communication campaigns.
When he left that position after eight years, he tried consulting for a year. Concluding that it would be easier to win B2B clients if he formally started a company, he formed an S Corp, but the moment wasn’t right to go all-in. He worked for an association for a year before he finally decided to take Magnitude full-time in January 2021.
Don’t do it all yourself. From the beginning, Krady lined up contractors to help him. “I wanted to offer everything I had offered as a marketer: content strategy, communications, advisory services,” says Krady. “To do that at scale, I knew I would have to bring on other help pretty early on. I could not do it myself.”
Krady…
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