From Freelancer to Fortune: Building a 7-Figure Agency

In the bustling metropolis of Houston, Texas, an entrepreneurial tale is unfolding that rivals the dynamism of its protagonist. Nick Baudoin, a bright-eyed and ambitious student from the University of Houston’s Bauer College of Business, embarked on a journey that transformed a simple freelancing gig into a thriving design, development, and marketing agency. Launched on Upwork in 2015, this humble side hustle has now grown into a formidable business entity poised to rake in $2.6 million in revenue for 2024.

Baudoin’s initial foray into the gig economy was more than just a pragmatic move to earn some extra cash during his undergraduate days. It was a strategic foray into the complex world of freelancing, where supply and demand often danced a delicate tango. Attending university and juggling an emerging business could have been a recipe for disaster, but Nick’s unwavering determination and his informational systems acumen provided him with a sturdy foundation. As demand for his services swelled, the revenue surged to an impressive $907,500 annually—all achieved without even hiring a single employee.

To put Baudoin’s accomplishments into perspective, consider this: According to the U.S. Census Bureau’s Annual Business Survey, there are 6.3 million employer firms in the country, yet only about 1.8 million of these firms generate $1 million or more in revenue. Moving into such an elite league is no small feat. For instance, the average employer business in the U.S. had four employees and posted an annual revenue of $816,180 as of an analysis conducted in 2017.

It wasn’t until 2021 that Baudoin brought on his first employee, subsequently adding another team member in 2022. His schedule during this period was the stuff of legends—balancing a full-time position at Google from 9 to 5 while spending early mornings and late evenings nurturing his growing enterprise. By the time his company hit $2.1 million in annual revenue, Baudoin made the pivotal decision to go full-time with his agency, now known as Alkali. The team currently consists of two employees and eight contractors, a testament to strategic scaling and judicious hiring practices.

Among the secrets to his success, Baudoin emphasizes client education. By meticulously explaining what a website needs to be successful, he secured a lot of repeat business. Today, Alkali conducts about 20% of its business on Upwork, a notable achievement considering the platform’s competitive nature. Specializing in highly regulated fields has also provided the agency with a buffer against the looming threat of AI disruption. With a full client roster and a clear vision for the future, Baudoin aims to further scale the development side of his business, with a particular focus on enhancing the agency’s capacity for application development.

From a nascent freelancer to the helm of a burgeoning business, Nick Baudoin’s entrepreneurial journey is a masterclass in the power of perseverance, strategic thinking, and the ability to adapt and grow in a rapidly changing digital landscape. His story is not just an inspiring entrepreneurial narrative but also a beacon of what can be achieved through dedication and a keen understanding of market dynamics.