The Agency Profit Podcast

Points of Interest00:01 - 00:21 - Introduction: Marcel introduces the episode and guest Chris Rudolph, a business coach specializing in helping agency owners grow their businesses and improve their lifestyles.00:21 - 01:05 - Chris’s Background: Chris shares his journey from starting in the fitness industry to coaching agency owners, emphasizing his accidental entry into the agency space.01:05 - 02:41 - Why Agencies?: Chris explains his focus on agencies, driven by their unique challenges and his passion for helping agency owners develop CEO skills they typically lack.02:41 - 03:11 - Changes in the Agency Landscape: Discussion on how COVID-19 and economic changes have affected agency pricing, scoping, and client retention strategies.03:11 - 06:17 - Opportunities from Disruption: Chris highlights how disruptions can open up opportunities for agencies ready to adapt, especially in terms of performance retainers.06:17 - 09:18 - Hybrid Retainer Model: Chris introduces his hybrid model combining flat fee retainers with performance-based components to balance risk and reward.09:18 - 11:09 - Determining the Base Retainer: The conversation dives into how to calculate a base retainer that covers costs and a margin, ensuring agencies don’t lose money on performance-based contracts.11:09 - 18:59 - Setting Performance Fees: Tips on simple and effective ways to structure performance fees based on net sales, ROAS, or cost per lead, depending on the agency’s services.18:59 - 27:09 - Audit Process for Client Acquisition: Chris describes the process of conducting audits for potential clients to assess fit and demonstrate value before proposing a retainer model.27:09 - 35:26 - Retaining Clients Through Transition: Strategies for transitioning existing clients facing churn or cancellations to the hybrid performance-based model as a way to retain their business.Show NotesConnect with Chris through his profile: Chris Rudolph on LinkedInFreedom Agency CoachLove the Podcast?Leave us a review here.

Points of Interest00:01-00:23 – Marcel kicks off the podcast by introducing Pete Everitt, a friend of the show, multi-agency owner, and coach specializing in helping agency owners with client acquisition and retention through recurring revenue.00:24-02:04 – Pete details his professional journey, from agency work in the UK to launching SEO Hive during the pandemic, and his coaching role for agency owners.02:04-02:25 – Discussion on the unique insights Pete offers by managing firms and coaching simultaneously.02:25-03:31 – Pete shares his career trajectory, including his start in agencies post-university and the eventual launch of his own agency in 2016.03:31-05:50 – The conversation shifts to Pete’s motivation for starting his own agency, spurred by a desire for more autonomy.05:50-08:56 – The evolution of agency models over the last decade, contrasting traditional firms with modern digital agencies.08:56-11:22 – The importance of providing value over simply reducing costs, especially in a post-COVID context, is discussed.11:22-13:57 – Pete emphasizes moving from an order-taker to a trusted advisor by closely understanding and evolving with clients' needs.13:57-17:16 – Marcel and Pete discuss how deep client understanding and problem-solving lead to better retention and expansion opportunities.17:16-34:39 – The final segment covers steps for agencies to become more strategic with clients, underscoring the role of account management and the necessity of adapting services to client needs continuously.Show NotesConnect with Pete through his profile: Pete Everitt on LinkedInAccount management ResourcesProduct Management Resources:Lean Customer Development, BookJobs to be doneLove the Podcast?Leave us a review here.

Points of Interest00:01-00:46 – Marcel kicks off the podcast by introducing David Jenyns, the genius behind a global agency that specializes in building business systems.00:47-02:12 – David opens up about his journey in the business world and what inspired him to pen down the book SYSTEMology.02:13-03:07 – Marcel and David get real about the struggles small businesses face when trying to grow, and how SYSTEMology swoops in to save the day.03:08-06:33 – David shares his own rollercoaster ride of running a digital agency, tackling hurdles like delegation and scalability head-on.06:34-08:27 – They dive into the telltale signs that scream, “Hey, it’s time for SYSTEMology!”08:28-09:57 – David lays out the initial steps for busting through bottlenecks systematically.09:58-11:37 – They discuss the importance of nailing down the top 10-15 systems in a business as the first step towards embracing SYSTEMology.11:38-14:26 – Tackling the challenges of getting your team onboard with new processes and systems becomes the focus of the conversation.14:27-16:14 – David unveils the concept of a systems champion and how it can transform your business’s culture.16:15-18:45 – Practical leadership tips for cultivating systems thinking and ensuring system maintenance take center stage.18:46-19:01 – David wraps up by pointing listeners towards more SYSTEMology gold, including his book and other resources.Show NotesLinkedIn: https://www.linkedin.com/in/david-jenyns/Twitter/X: https://twitter.com/davidjenynsWebsite: https://www.systemology.com/profile/Amazon link to book: https://www.amazon.ca/SYSTEMology-Create-profits-business-systems-ebook/dp/B08CDY993GLove the Podcast?Leave us a review here.

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/

Points of Interest0:00-1:20 - Introduction to Craig Cody, a tax strategy expert focused on helping agencies pay less tax.1:21-2:12 - The unique focus of tax planning for marketing agencies.2:13-3:04 - The role of business model in tax planning for agencies.3:05-4:29 - Understanding the tax code and the importance of tax planning.4:30-5:45 - The importance of proactive tax planning and thinking year-round.5:46-6:50 - The importance of tax efficiency and its impact on building wealth.6:51-7:30 - Thoughtful decisions and tax efficiency for agency owners.7:31-8:31 - The tension between making business tax efficient and the reality of business costs.8:32-9:45 -The impact of entities and location on tax planning.9:46-10:53 - Retirement planning as a key tax strategy for agency owners.10:54-12:18 -The value of documentation and proper planning for tax efficiency.12:19-14:00 - Strategies for maximizing tax benefits and expenses within the boundaries of the law.Show Notes12 Biggest Tax Mistakes Book: https://craigcodyandcompany.com/ (form on homepage)5 Simple Ways to Save Thousands on Taxes Course: https://craigcodyandcompany.thinkific.com/courses/5-tax-strategiesLinkedIn: https://www.linkedin.com/in/craigcodycpa/LinkedIn Business: https://www.linkedin.com/company/craig-cody-and-company/Facebook: https://www.facebook.com/CraigCodyandCompanyWebsite: https://craigcodyandcompany.com/Agency Research Report: https://craigcodyandcompany.com/agency-tax-research/Re-launching The Progressive Agency Podcast: https://craigcodyandcompany.com/agency-podcast/ - Date TBDEmail:  craig@ccodycpa.comLove the Podcast?Leave is a review here.

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!

0:00-2:00  –  Introduction to the solo cast episode focusing on utilization rates, emphasizing its significance for agencies.2:00-6:00  –  Historical context of utilization, highlighting its relevance in the billable hour era and its evolving role in the modern agency landscape.6:00-11:30 – Challenges in measuring utilization, emphasizing variations in defining billable hours and capacity, hindering benchmarking efforts.11:30-15:00 – Emphasis on a comprehensive management framework and the interconnectedness of utilization with financial metrics.15:00-18:00 – Discussion on the impact of utilization on agency profitability and the absence of a universal benchmark.18:00-22:30 – Introduction to the Parakeeto framework and its consistent approach to calculating utilization within a broader context.22:30-26:00 – Insight into utilization as a lever affecting delivery margin, with examples highlighting potential discrepancies in profitability.26:00-30:00 – Exploration of the formula for utilization, defined as delivery hours over capacity, with detailed explanations of each component.30:00-34:00 – Importance of considering delivery hours over billable hours in the context of utilization, using examples to illustrate profitability discrepancies.34:00  – End Conclusion on the significance of a thoughtful and consistent metric aligned with a broader management framework, with a focus on the flexibility of the Parakeeto framework.Show Notes:Capacity Planning 101: Strategies, Benefits, and Challenges: https://parakeeto.com/blog/capacity-planning-101-strategies-benefits-and-challenges/Toolkit: https://parakeeto.com/toolkit/Calculator: https://parakeeto.com/blog/utilization-rate-calculator/Utilization Rate & Capacity Forecasting: Marketing Agency’s Guide: https://parakeeto.com/blog/resource-utilization-capacity-planning-for-marketing-agency-2/

Points of Interest0:00-0:22 - Intro & background of guests and their expertise 0:21-1:22 - Four stages of day-to-day involvement in an agency1:23-1:18 - Six agency roles to consider delegating 2:20-5:05 - Clarifying swim lanes to define roles and responsibilities5:08-10:10 - Values, goals, and resources for decision-making10:11-11:00 - Developing high-functioning leadership within an agency 11:01-14:13 - Hiring strategies and delegation considerations 14:14-17:04 - Encouraging trust within the team and ongoing feedback17:05-18:13 - Importance of assuming positive intent and effective communication18:14-22:15 - The power and effectiveness of meetings, and leading by example22:16-23:13 - Resources and training for leadership development23:13 - 34:33 - Clarifying Swim Lanes and Evolution 34:33 - 48:41 - Leadership Coaching and Feedback48:41 - 49:56 - Conclusion and Additional ResourcesShow NotesBook Link: https://sakasandcompany.com/lp/work-less-earn-more-book/Website: https://sakasandcompany.comNewsletter: https://sakasandcompany.comLeadership Training:Home | Manager Tools (manager-tools.com)https://sakasandcompany.com/training-programs/Bureau of Digital Link: https://bureauofdigital.com/Free resources from Sakas & Company (including hundreds of articles, a newsletter for agency leaders, and more)Agency Leadership Intensive (eight-week virtual leadership development program for agency owners and execs)Work Less, Earn More book (including Amazon links, free sample chapter, and companion workbook)Audible edition of Work Less, Earn More

Points of Interest00:00 - 00:15: Introduction00:43 - 01:17: Significance of shared values and building relationships beyond transactions.01:17 - 01:37: Agency's role as an extension of the client and factors contributing to successful partnerships.15:03 - 15:54: Critical aspects of successful engagements and the role of expectations in sales relationships.15:54 - 16:48: Warning against agencies making unrealistic promises and the importance of setting proper expectations.16:48 - 17:25: Focusing on results through key performance activities and performance-based communication with clients.18:21 - 19:26: Importance of people in agency success, team longevity, and functional infrastructure.19:26 - 20:13: Recognition of external expertise impact and gratitude for positive collaboration.21:19 - 22:46: Retaining a team through proper hiring and the importance of shared vision and goals.22:46 - 26:15: Profiling jobs before hiring and developing team buy-in with shared goals.26:18 - 28:34: Shift in agency focus - efficiency vs. strategy and the importance of pricing models and valuing agency work.28:34 - 30:05: Delivering and receiving value in relationships and opportunities existing regardless of economic climate.30:05 - 31:01: Call to re-evaluate pricing modelsGuest LinksTim Burke's LinkedIn Profile Conduit Digital's Website Conduit Digital's LinkedIn Page Conduit Digital's YouTube Channel 

Points of Interest0:00 - 2:26 - Introduction: Marcel introduces Melissa Morris and her background.2:26 - 4:48 - Importance of Operations: Discussion about the role of operations in agency success.4:48 - 8:21 - Common Challenges: Melissa talks about common challenges agencies face.8:21 - 11:30- The Scope Creep Issue: Marcel discusses the issue of scope creep.11:30 - 13:45 - Team Clarity and Training: Melissa emphasizes the importance of team clarity and training.13:45 - 15:27 - Integrating Operations Early: The conversation touches on integrating operations early in an agency.15:27 - 16:02 - Starting with Conversation: Melissa talks about starting with a conversation when dealing with agency owners.16:02 - 17:37 - Importance of Output: Discussion about focusing on the desired output and the quality of project management tools.17:37 - 19:23 - Documenting Processes: Marcel transitions to discussing the timing of documenting processes and the potential pitfalls.19:23 - 22:20 - Framework - DISCO: Melissa introduces her DISCO framework for refining workflows and processes.22:20 - 28:01 - SOPs and Training: Discussion on the right time to create Standard Operating Procedures (SOPs) and the importance of team training.28:01 - 32:55 - Additional Tips: Melissa suggests focusing on the tool stack and addressing team training.Show NotesLink to youragencyauthority.comLink to Melissa's LinkedIn Profile

00:00 – 00:32: Introduction and background of the guest, Mandi Ellefson.00:32 – 03:42: Discussing the challenges faced by service-based businesses, especially agencies, in scaling beyond $1 million.03:42 – 07:38: Importance of creating an “irresistible offer” to enhance scalability and overcome common obstacles.07:38 – 12:12: Exploring the concept of crafting a compelling value proposition and aligning it with client needs.12:12 – 16:35: The significance of pricing strategy, client positioning, and delivering exceptional value to boost scalability.16:35 – 17:21: The role of mindset in scaling a business and embracing the concept of “thinking bigger.”18:56 – 19:15: Reflecting on the pivotal moment that transformed Parakeeto and the impact of reimagining the ultimate solution.19:15 – 19:38: Overnight transformation in deal size and business growth by focusing on solving bigger problems with more value.19:38 – 20:19: Zooming out to identify substantial problems, creating more value, and building a substantive process for better solutions.20:19 – 22:02: Recognizing the importance of transitioning from services to software and standardizing processes for scalability.22:02 – 22:49: Sharing experiences of intentionally under-engineering processes and the necessity of maturity in business decisions.22:49 – 23:23: Discussing the process of scaling a service firm and the service product positioning matrix.23:23 – 23:51: Emphasizing the impact of an irresistible offer on increasing prices and achieving a 300% or more price point increase.23:51 – 24:39: Introducing the client success map as a sales tool and developing the service management blueprint for scalable outcomes.24:39 – 26:50: Leveraging traffic light systems for internal evaluation, improving product quality, and enhancing client outcomes.26:50 – 29:22: Progressing through the five exits for scaling: project/account management, operations management, client strategy, sales, and executive leadership.29:22 – 30:39: Insights into the role of operations management in freeing up the CEO for growth and connecting operations with finance.30:44 – 31:50: The order of exits and the significance of separating client strategy from account and project management.31:50 – 32:51: The sequence of exits: sales as exit four and executive leadership as exit five, with a focus on building a scalable sales team.Show Notes/LinksMandi’s Scalability ChecklistLink to the book on AmazonLink to Mandi’s Agency “Hands Off CEO”Link to Mandi’s Linkedin Profile

Robert Patin is the founder of Creative Agency Success, a consulting firm dedicated to helping creative agencies scale. Robert is known for being a deeply inquisitive and analytical leader with a distinct ability to devise solutions that elevate companies and lifestyles.He is a two-time international best-selling author and is passionate about sharing his next-level strategies so that creative agency leaders will find fulfillment and growth.Find his books here:The Agency BlueprintThe Practical AgencyPoints of Interest00:01:06 – 00:01:26Meet Robert PatinMarcel highlights Robert’s background and accomplishments, emphasizing his expertise and experience in operations, finance, and consulting for creative agencies.00:03:38 – 00:03:43Introduction to Client Lifetime ValueMarcel initiates the discussion on Client Lifetime Value (CLV) and its importance, setting the stage for the main topic.00:04:01 – 00:05:17Importance of Increasing CLVMarcel and Robert discuss the significance of increasing CLV, especially in the context of expensive client acquisition, and outline key levers to maximize its impact on agency profitability.00:06:01 – 00:06:22The Churn CeilingRobert introduces the concept of the “churn ceiling,” highlighting the critical role of client retention in agency growth.00:08:18 – 00:08:54Strategic Client RelationshipsMarcel and Robert delve into the importance of building strategic relationships with clients, emphasizing the value of being a trusted advisor.00:10:04 – 00:10:32Undermining Factors in Client RetentionThe discussion uncovers factors that undermine an agency’s ability to retain clients and improve CLV, focusing on delivering value and adapting to client needs.00:12:45 – 00:13:00Expanding Revenue without Operational DragMarcel and Robert explore strategies to expand client revenue without adding operational complexities, emphasizing understanding client needs and navigating opportunities wisely.00:14:21 – 00:16:23Quality vs. Quantity of RevenueThe conversation deepens into the tension between client lifetime revenue and gross profit, highlighting the importance of careful balance and considering long-term impact.00:17:53 – 00:18:18Creating Value through AdaptationMarcel and Robert emphasize the value of adapting agency operations to facilitate problem-solving for clients, creating goodwill and trust.00:18:55 – 00:19:15Value vs. Short-Term GainsThe discussion reveals the pitfalls of contrived efforts to inflate CLV without providing genuine value, emphasizing the importance of solving customer problems.00:22:59 – 00:23:40Balancing Revenue and ProfitThe podcast concludes with insights into balancing revenue and profit, stressing the importance of reconciling price, scope, and cash flow for long-term agency success.

QUICK LINKS:• The Agency Profitability Toolkit - Get the templates, formulas, and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free• For more information on our Agency Profitability Systems and Consulting, check out parakeeto.com• Love the podcast? Leave us a review on the platform of your choice at this link• Want to see/read more about this episode? Then do make your way to parakeeto.com/blogGUEST LINKS:GoWPQuickly HireGoWP FaceBookABOUT: Emily is the Chief Operating Officer for GoWP, a company helping agencies grow through their dedicated staffing and via white-label WordPress service development.

QUICK LINKS:• The Agency Profitability Toolkit - Get the templates, formulas, and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free• For more information on our Agency Profitability Systems and Consulting, check out parakeeto.com• Love the podcast? Leave us a review on the platform of your choice at this link• Want to see/read more about this episode? Then do make your way to parakeeto.com/blogGUEST LINKS:Chris's InstaChris's YouTubeLinkedInDealmaker ConciergeDealmaker Wealth SocietyABOUT: Chris Moore is an entrepreneur, investor, full-stack digital marketer, best-selling author, and business growth specialist. He has a strong background in business development, customer experience design, and business growth strategy. 

QUICK LINKS:• The Agency Profitability Toolkit - Get the templates, formulas, and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free• For more information on our Agency Profitability Systems and Consulting, check out parakeeto.com• Love the podcast? Leave us a review on the platform of your choice at this link• Want to see/read more about this episode? Then do make your way to parakeeto.com/blogGUEST LINKS:Jason's author pageAgency MasteryJason's Blog Jason's PodcastLinkedInYouTubeABOUT: Jason is one of the prominent thought leaders and coaches for digital agencies in the space. He's literally written the book for growing an agency from nothing to two eight-figure agencies.

Check out the full blog post for this solocast here!  ** FREE DOWNLOAD** The Agency Profitability Toolkithttps://parakeeto.com/toolkitGet the templates, formulas and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free.For more information on our Agency Profitability Systems and Consulting, check out https://parakeeto.comLove the podcast? Leave us a review on the platform of your choice!https://lovethepodcast.com/AgencyProfit

QUICK LINKS:• The Agency Profitability Toolkit - Get the templates, formulas, and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free• For more information on our Agency Profitability Systems and Consulting, check out parakeeto.com• Love the podcast? Leave us a review on the platform of your choice at this link• Want to see/read more about this episode? Then do make your way to parakeeto.com/blogGUEST LINKS:Alife’s LinkedInAlfie’s FacebookCactusInstagramTwitterABOUT: Chartered accountant and Managing Partner at Cactus, Alife helps small to medium-sized agencies to achieve profitable growth organically through Mergers and acquisitions. He also trains agency staff to be more commercially aware.

QUICK LINKS:• The Agency Profitability Toolkit - Get the templates, formulas, and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free• For more information on our Agency Profitability Systems and Consulting, check out parakeeto.com• Love the podcast? Leave us a review on the platform of your choice at this link• Want to see/read more about this episode? Then do make your way to parakeeto.com/blogGUEST LINKS:Ryan's LinkedInUpsourced LinkedinYoutubeTwitterInstagramUpsourced AccountingAgency Lifecycle blogABOUT: Ryan is an experienced operations and finance leader for creative agencies and venture-funded startups. As a partner at Upsourced, he helps scaling agencies build better plans, see the future, and drive profits.

QUICK LINKS:• The Agency Profitability Toolkit - Get the templates, formulas, and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free• For more information on our Agency Profitability Systems and Consulting, check out parakeeto.com• Love the podcast? Leave us a review on the platform of your choice at this link• Want to see/read more about this episode? Then do make your way to parakeeto.com/blogGUEST LINKS:Corey's LinkedInCorey's WebsiteVertical Go-To-Market podcastABOUT: Corey helps agencies break the cycle of flat sales by becoming a vertical market specialist. Host of the Vertical Go-To-Market podcast, Corey is also the author of Focus Vertical (Q3, 2023) and the former CMO at Scorpion (which he scaled from $20-$150M in 6 years).

QUICK LINKS:• The Agency Profitability Toolkit - Get the templates, formulas, and frameworks we've used with our consulting clients to help them double their profitability in under 60 days, absolutely free• For more information on our Agency Profitability Systems and Consulting, check out parakeeto.com• Love the podcast? Leave us a review on the platform of your choice at this link• Want to see/read more about this episode? Then do make your way to parakeeto.com/blogGUEST LINKS:Ilia's TwitterIlia's LinkedInThe Toggl BlogToggl's Anti-Surveillance StatementAgency Profit Margins blogABOUT: Toggle might be well known for their time tracking software, but they also offer project management/resource and capacity management tools (Toggl Plan) plus hiring software (Toggl Hire) used by over 70,000 teams across the world.