The Agency Accelerator Improving Your Profitability By Focusing on Stuff That Matters!
If you wish you were more profitable, then make sure you listen to this episode!
My most read blog is called ‘Being a Busy Fool'. It clearly resonates with a lot of people, and it's also obviously a search term that a lot of business owners are typing into Google!
After all, we can all be really busy run ragged servicing clients, trying to catch our breath whilst recognising that we are not doing many of those ‘running the agency’ type tasks such as planning for the future, focusing on business development and so on because we are so stuck on the client service hamster wheel, just trying to keep up with client demands. Sadly this results in us being busy fools and, quite frankly, staying poor.
In today’s podcast, I dig into the cause of this and give you some ideas to start solving it.
Time Stamp
[01:27] There should be a direct correlation between how busy you are and how profitable you are. If not, here are some reasons why
[02:17] Over-servicing: an agency pandemic!
[03:06] The importance of measuring time internally (which is different to selling time to clients!)
[04:10] Putting the right systems in place to measure capacity and efficiency
[05:06] Translating a brief into internal allocated time
[05:50] Getting your team members to self-manage using RAG
[07:22] Taking a strategic view on over servicing
[07:45] Say YES or NO to a client when they ask for more
[08:28] When time recording falls
[09:56] Explaining WHY to your team
[10:33] Don’t use an ‘admin other’ task in your time recording system
[11:29] The cultural implementation of not overservicing by implementing time recording
[12:26] Identifying skills gaps and training needs
[13:45] The sooner you implement this the easier your journey of growth will be
Quotations
“You have to track time internally to measure efficiency, capacity and profitability.” - Rob Da Costa
“You will never know if you are profitable with a client unless you track your time.” - Rob Da Costa
“The sooner you implement time recording, the easier your journey of growth will be” - Rob Da Costa
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Useful links mentioned in this episode:
- Productivity Cheat Sheet
- Time Recording Systems to look into:
- Harvest
- Streamtime
- Toggl