Agency Bytes Ep 053 – Nicholas Petroski, Promethean Research – Repeatable Revgen
In this episode, I got to speak to Nick Pretroski from Promethean Research and we dig into the topic of recurring revenue generation for agencies. Nick breaks down some Revgen strategies and talks about how essential it is to build a machine (AKA a system that works for YOU) that companies can use to repeatedly generate new leads, converting them into sales, bringing them through delightful delivery processes, and turning them into evangelists. We talk about the four key areas of Revgen and the owners’ role in these areas, and ways to shift some of those responsibilities off of the owner's plate to expand the efforts of the team. Nick also lays out some of the key metrics to keep your eye on to measure the results of your RevGen efforts.
Key Takeaways
• Having a system in place for repeatable revenue generation (RevGen) is crucial for digital agencies to grow reliably and with higher margins.
• Transitioning from a practitioner role to a business development leadership role is essential for agency owners to focus on strategic growth.
• The RevGen system consists of four roles: biz dev, sales, account management, and marketing, each responsible for specific stages of the client lifecycle.
• Avoiding bloated spending and tracking key metrics are important for the success of the RevGen system.
• Being methodical in building a RevGen system can help alleviate stress and make running a business easier.
Chapters
00:00 Introduction and Background
03:44 Understanding Repeatable RevGen
09:14 Transitioning from Practitioner to Biz Dev Leadership
13:49 The Four Roles in the RevGen System
16:18 Implementing the RevGen System
20:16 Key Metrics for RevGen Success
24:16 Hobbies and New Tools
26:01 Valuable Business Advice
I’m Nick. I run Promethean. A boutique consultancy that helps digital agencies grow more reliably with higher margins and simpler operations.
Since 2015, I’ve been helping digital firms better understand their industry and chart more effective paths to success.
Prior to co-founding Promethean, I worked as an equity analyst at a Wall St. firm where I covered the enterprise software and semiconductor industries. Before that, I spent a bit of time in corporate finance.
When I’m not in the office, you can find me backpacking around the Midwest or making fancy firewood in my woodshop.
Contact Nick on his website, on LinkedIn, or learn about repeatable RevGen for Digital Agencies here.