What’s a good profit margin for my digital agency?
Wondering if your digital agency’s profit margin stacks up? Find out what your profit margin should be – and how to get there.
Why your digital agency is hard to scale
Agency and service-based business models don’t scale like software or product-based business do. But why is that?
How to calculate your digital agency’s charge-out rate
You did it! You branched out and started your own digital agency. No more working for the man – you’re the boss now, and one of the first things you’re going to need to figure out is how much you charge your clients for the services you offer. In this article, I discuss the all-important…
When can my agency afford to hire my next employee?
For owners and operators of service-based businesses, growing pains are inevitable. But there are tried and tested formulas for understanding the right triggers or actions to take to ensure the growth in your agency is sustainable from both a workflow perspective and a cash flow perspective. In this article, we tackle the important question of…
eBook: The Business Cashflow Guide for Agencies
Want to know what a CFO of a digital agency would do to manage the current economic conditions? We’ve created a comprehensive guide for agency owners and managers with strategies to weather this storm. If you do this work now, you’ll prepare your business in the event of an economic downturn, putting you in the…
The 3 step process to improving the productivity of your Digital Agency
Our recent digital agency whitepaper showed that the average productivity rates across digital firms in Australia is 83%. Yet among firms we talk to, it is not uncommon to see productivity as low as 60%. This observation brings about several questions which I will answer below, including what exactly is a productivity rate? What does…
Lesson learnt #2: Know your customer. The 3 step process we used to determine our target market
Niching for a Startup is critical. It levels the playing ground between small and large businesses. The challenge is however, when you start a new venture or develop a new product, you say yes to anything and everything. You take every meeting, every phone call, every bit of work that comes your way. Even if…
The MOST important metric professional services businesses fail to capture
ATTENTION: Lawyers, accountants, architects, creative agencies, recruiters, financial planners, consultants…any other business in the business of ‘buying and selling’ time… …this applies to you. Some seasoned entrepreneurs may say revenue growth, profitability, lock up – amongst others – are the most important metrics to your business. Of course they are important, however I believe one…