Growing a $3M+ annual revenue agency: Insights from Ritik, Studio Rodrigo’s co-founder

In the very first episode of the Better Mistakes podcast, Diogo sat down with Ritik, the co-founder of Studio Rodrigo, a Brooklyn-based digital product design and strategy studio. His journey, experience, and approach to running a successful creative agency offered a wealth of insights for business owners, especially those navigating the complex terrain of client relationships, team management, and business development.

Here are five key takeaways from the conversation with Ritik:

1. Balancing Corporate and Startup Work

Studio Rodrigo strikes a unique balance between working with large corporations like Google and Spotify, and early-stage startups tackling real-world problems in industries like healthcare and finance. Ritik explained that this balance allows them to stay creatively stimulated while maintaining financial stability. This dual approach is a reminder to founders: diversifying your client base can bring both stability and growth opportunities.

2. Emphasizing Relationships in Business Development

One of the pillars of Studio Rodrigo’s growth has been relationship-driven business development. Ritik highlights the importance of maintaining and nurturing relationships with past clients and industry contacts. He personally keeps a list of over 1,200 people with whom he checks in regularly, ensuring that Studio Rodrigo stays on their radar. This strategy underscores the value of relationship-building over cold outreach, particularly in service industries.

3. Sustainable Growth Through Careful Hiring

Ritik’s approach to hiring emphasizes slow, sustainable growth. Instead of rapidly scaling the team, Studio Rodrigo relies on freelancers to handle overflow work, allowing the core team to remain small and agile. This model also means they don’t have to take on undesirable projects just to keep the lights on - a philosophy many agencies can benefit from adopting.

4. Flexibility and Control Over Creative Projects

Internal projects play a crucial role in keeping Studio Rodrigo’s team engaged during downtime. Ritik explains how these projects, like their “Cinema Rodrigo” movie club, allow team members to explore personal interests while building new skills. Having a creative outlet that doubles as a business development tool is a smart way to keep teams motivated and maintain a steady flow of creative energy.

5. Managing Long-Term Team Retention

With many team members staying at Studio Rodrigo for over a decade, Ritik has developed a unique perspective on retaining talent. His secret? Offering opportunities for personal growth while being transparent about financial and organizational limitations. Ritik acknowledges that there’s only so much growth a small studio can offer and sometimes encourages employees to move on when they’ve reached the peak within the company - an honest and rare approach that fosters trust and respect.

Key Lessons from Ritik’s Journey

Ritik’s story is a reminder that running a successful agency is about more than just acquiring clients - it’s about building meaningful relationships, cultivating a strong internal culture, and maintaining a clear vision for growth. Whether you’re managing a team of 20 or striving to find the right clients, his insights are a valuable guide for agency leaders at any stage.

If you’re eager to dive deeper into Ritik’s insights and experience, don’t miss the full podcast episode in YouTube or Spotify. His thoughtful approach to leadership and business development is sure to inspire.