In this episode of Retained Trust, host Karl Hughes sits down with entrepreneur and agency expert Sam Shepler, founder of Testimonial Hero, to explore the ins and outs of building, scaling, and acquiring service-based businesses. Sam shares his journey from running a generalist video agency to selling it, launching a productized service, and now expanding through strategic acquisitions. Karl and Sam break down the power of productized services, how acquisitions can unlock new growth, and the challenges of integrating new businesses into an existing agency. They also discuss how to say no to custom projects, balancing specialization with expansion, and why maintaining good relationships with competitors can open unexpected doors.

Key Points From This Episode:

[00:00:00] Introduction to Karl Hughes & Retained Trust

[00:00:43] Guest introduction: Sam Shepler’s background and agency experience

[00:01:51] Selling his first video agency and transitioning into productized services

[00:04:03] Why productized services appealed to Sam and how he built Testimonial Hero

[00:05:50] The myth of recurring revenue in service businesses

[00:07:09] The power of process-driven scaling and why it’s essential

[00:08:38] Saying no to custom client requests & keeping services streamlined

[00:10:37] The natural evolution from productized service to broader agency growth

[00:14:28] Expanding into new service areas without losing focus

[00:17:08] The limits of productized services and when to expand offerings

[00:20:21] The acquisition strategy: why Sam decided to buy instead of build

[00:23:46] Choosing the right services to add through acquisition

[00:27:02] The challenge of managing multiple agency brands

[00:30:15] Thinking in long-term horizons to unlock big opportunities

[00:34:37] The role of competitors in potential acquisition deals

[00:39:59] The difficulties of getting deals done & lessons from failed acquisitions

[00:45:45] Sam’s recommended books on business, strategy, and psychology

[00:47:00] Where to follow Sam & learn more

Links:

Sam Shepler on LinkedIn: https://www.linkedin.com/in/samshepler/
Testimonial Hero: https://www.testimonialhero.com/
Karl Hughes on LinkedIn: https://www.linkedin.com/in/karllhughes
Production and editing by The Podcast Consultant: https://thepodcastconsultant.com