Tag: Services Business
Profitability Growth
How’s Your Profitability Growth? Profitability Growth is a constant challenge for all agencies especially given ongoing price competition. All agencies struggle with how best to preserve their margins. Why? Because of the constant tendency to exceed estimated budget hours. Why? Because aligning expectations between the agency and the client is difficult. Most clients aren’t sure […]
Funding Your Agency
Funding Your Agency Key Funding Strategy Issues Getting funding of any kind can be troublesome. First, let me say that service-based agencies have low valuations unless they a proprietary technology or process, or have a specific niche or vertical market expertise like pharmaceutical, healthcare, education or auto. Geography may also be a benefit. This is […]
Enterprise Strategies
Enterprise Strategies and Agency Growth The foundation of any agency is having a Financial Plan and an Operations Process you can rely on. Together, these represent your enterprise strategies. All things come back to money and as an agency you must strive for operational excellence. The Financial Plan informs all decisions you make. It should […]
Customer Strategies
Customer Strategies and Agency Growth Every agency wants more business – new business development is dependent on your VISIBILITY, CREDIBILITY, and a USP. These are the core elements of your customer strategies. Start With Your Current Customers I always recommend starting with current clients. It is far easier to sell to people who know you […]
Mergers and Acquisitions For Growth
Mergers and Acquisitions For Growth – A 3rd Approach to Achieve 20% Growth for Your Agency In previous posts, I’ve discussed various alternatives to growing your agency using an organic growth strategy and/or a partnering for growth strategy. Now let’s have a look at a third scenario: Mergers and Acquisitions for growth – the third […]
Partnering For Growth
Partnering For Growth Is Another Approach to Achieve 20% Growth for Your Agency Partnering For Growth is the second of the three key pathways to achieving a 20% rate of growth for your agency. Here’s the challenge: Your agency does better if you stay highly specialized But… your client has full-service needs And, your client […]
Organic Growth
Organic Growth Is One Approach to Achieve 20% Growth for Your Agency Organic Growth is one of the three key pathways to achieving a 20% rate of growth for your agency. What is Organic Growth? It’s all internal and relies heavily on people resources and strategies. As a service business, people are your primary asset. […]
People Strategies
People Strategies and Agency Growth In any service based business, PEOPLE (your staff) are your primary asset and your biggest expense. Unless you have a proprietary product or tool, it’s your People that make the difference/make you special! For your agency to grow or scale, it has to be more than just you. I constantly […]
