Guest Chris Rudolph shares insights on adapting agency pricing with performance-based retainers, navigating industry changes, setting performance fees, conducting client audits, and balancing client satisfaction with agency profitability.

Join Pete Everitt, a multi-agency owner and coach, as he discusses the evolution of agency models, the importance of providing value over cost-cutting, and the shift towards becoming a trusted advisor for clients. Learn how understanding and solving clients' core problems can lead to better retention and expansion opportunities, ultimately driving business growth through strategic client engagement and recurring revenue models.

David Jenyns, a trailblazer in building business systems, shares his insights on systems thinking. He discusses his journey and the inspiration behind his book, SYSTEMology. The conversation dives into the challenges small businesses face when scaling and the importance of identifying key processes. Jenyns introduces the concept of a systems champion to enhance team culture and discusses practical leadership tips to maintain effective systems. Listeners are encouraged to embrace systemization for sustainable growth and efficiency.

Points of Interest00:01 – 00:40 – Introduction to the Episode and Guest: Marcel introduces Michael Wark and his expertise in finance for agencies.00:40-01:00 – Michael’s Background and Passion for Agency Finance: Michael shares his excitement for the topic and his background in financial services.01:00-01:45 – The Role of a Virtual CFO for Agencies: Discussion on how Michael serves as a virtual CFO for agencies worldwide, blending operations with finance.02:10-03:18 – Why Michael Started Trimline and Focus on Agencies: Michael’s journey from corporate to entrepreneurship, focusing on creative agencies.04:15-05:15 – The Importance of Management Accounting Over Tax Accounting: Insights on how focusing on management accounting can better support growth and strategic decision-making.05:15-06:41 – Stages of Agency Growth Towards $5 Million: Michael discusses the growth stages agencies face on their way to $5 million and beyond.06:59-08:00 – Common Financial Pitfalls for New Clients: Challenges new clients face, such as mixing personal and business finances.10:38-11:29 – Restructuring P&L for Operational Profit: Strategies to clean up the P&L for a true look at operational profit, separating out non-operational expenses.14:03-15:42 – Accrual Accounting in Agencies: The complexity of accrual accounting for agencies and the importance of accurate revenue recognition.19:19-22:08 – Investing for Growth and Understanding Unit Economics: The investment mindset required for sustainable growth and the significance of understanding unit economics.33:11-37:02 – Building Real Value and Preparing for Exit: Focusing on building a business that’s attractive to buyers by systemizing operations and documenting processes.Show NotesLink to E-book: https://jo.my/qr/trimline-growthLinkedIn: https://www.linkedin.com/in/michael-wark-18627628/Website: https://trimline.co/

Discover tax efficiency strategies for marketing agencies with expert Craig Cody. Explore proactive tax planning, entity selection, retirement plans, and maximizing tax benefits. Learn about the importance of clear communication and documentation for tax efficiency.

00:00 – 00:18 – Introduction and background information on Rob’s 25 years of experience in the agency industry.03:15 – 05:05 – Rob shares his experience transitioning into the digital industry and the challenges faced in the early years.08:22 – 13:02 – Rob shares two crazy experiences from his time in the digital industry, including a major website launch mistake.13:05 – 18:05 – Rob discusses the challenges of maintaining agency profitability and creativity and his transition into consulting.19:18 – 21:17 – Discussion on the challenges of balancing creativity and agency operations, and resistance to introducing processes.21:20 – 24:23 – Discussion on the need to introduce strategic consulting and the fear of process impacting creativity.24:23 – 29:20 – Discussion on the importance of feedback loops and creating a culture of feedback within the agency.29:20 – 34:00 – Addressing resistance during the implementation of processes and the need for organizational restructuring.34:00 – 36:17 – Final advice on taking incremental steps and involving the team in the process to create a harmonious work culture.36:17 – 38:00 – Conclusion and contact information for further follow-up.Show Notes:Rob Sayles LinkedIn ProfileLove our Podcast? Leave us a review here!

This podcast episode delves into the importance of utilization rates for agency profitability. It discusses the historical context and challenges in measuring utilization, emphasizes the impact on agency profitability, and introduces the Parakeeto framework for calculating utilization. The episode also explores the formula for utilization, the distinction between delivery hours and billable hours, and the significance of a consistent metric aligned with a broader management framework.

Karl Sakas, agency owner and leadership expert, discusses four stages of agency involvement, clarifying swim lanes for roles and responsibilities, values, goals, and resources for decision-making, developing high-functioning leadership, hiring strategies, trust and feedback, effective communication, the power of meetings, and leadership training.

Tim Burke, Agency success through 3rd party partnerships. Importance of shared values and relationships. Agency as an extension of the client. Setting proper expectations. Results-focused communication. People and infrastructure in agency success. Recognition of external expertise. Retaining a team with shared vision. Shift in agency focus and pricing models. Delivering and receiving value. Call to re-evaluate pricing models.

Melissa Morris, agency operations expert, discusses the importance of operations in agency success, common challenges agencies face, the issue of scope creep, team clarity and training, integrating operations early, starting with a conversation when dealing with agency owners, focusing on the desired output and quality of project management tools, documenting processes, her DISCO framework for refining workflows and processes, the right time to create SOPs, team training, and the importance of the tool stack and addressing team training.