Last year I started a digital agency. We do website design, app and software design and video design. It's been quite a fun ride. Here are some tips for you guys.
1. Focus on what you know or love.
This is important. If you focus on what you know or understand, you'll be able to provide a much better service for your clients, without having to learn a lot. I have a good eye for design, so making something that looks nice is intuitive for me.
2. Always outsource.
Providing a service on your own might initially make you more money, as you don't have to pay your freelancers, but it's not scalable. You're much better off outsourcing right from the get go, and...
3. Charge premium.
When you charge premium, you can offset your outsourcing cost. To give you an example, I've just recently provided a design to a client. They paid $700 for it, and I paid $75 to a member of my team.
Don't be afraid to charge good prices. There are always people willing to pay, if the end product is of high quality.
4. Be fast.
The one thing your customers won't have much patience for is having to wait for you for no reason. Whatever you do, make sure you're as quick as possible. being fast will get you more repeat business, and you'll make more money in the long run.
5. Be helpful.
Don't just focus on the money. Be kind and helpful. See what you can do to for the people around you. The more helpful you are, the more money you make.
6. Be persistent.
Don't quit. Once you decide on a niche, give yourself some time, especially if you're working on your own. You might fail at first, probably will. You WILL succeed eventually. Just keep at it.