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Why Agencies Are Not Profitable - The Pathway to 30%+ Net Profit with Robert Patin
Manage episode 397535078 series 2819363
Το περιεχόμενο παρέχεται από το Rob Da Costa. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Rob Da Costa ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Are you struggling to maximise your agency's profitability in today's competitive market?
Discover the foolproof strategies for achieving 30%+ net profit with Robert Patin in this week’s Agency Accelerator podcast.
In this episode, you'll learn how to shift from time-based selling to value-based selling, analyse client profitability, and make strategic business decisions that drive your agency's success.
You'll gain insights into increasing your agency's profitability, building value-based client relationships, and making strategic decisions for long-term success.
Tune in now to uncover the secrets of achieving 30%+ net profit and revolutionise your agency's profitability!
Time Stamp
[01:34] A definition of net profit
[03:00] What are typical agency net profits?
[05:00] Why are so many agencies at the lower end of net profit (10%)?
[06:34] Stop measuring your hourly rates and start measuring average earnings or effective bill rate
[09:00] Stop selling time to clients!
[12:48] What are the first steps to increasing profit margins?
[15:32] Are there alternative ways to measure capacity and efficiency besides using time recording?
[17:55] Why you should increase your prices (taking a value-selling approach)
[22:50] Steps to increasing profits
[27:35] When we are in an investment phase, how long should it be and how do we know we are making the right investment?
Quotations
“The thing I want to do most is often right behind the thing I want to do the least!” - Robert Patin
“When we sell time to clients we focus on the wrong thing and disregard our years of experience and our strategic insights” - Rob Da Costa
“Make decisions that are not emotionally based - hence the importance of a plan” - Robert Patin
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Useful links mentioned in this episode:
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