Welcome back to another episode of Agencyphonics, we're talking today the secret sauce to profitability!
In this episode, Cactus Managing Partners Joanne Reid & Alfie Wenegieme discuss strategies for profitability including increasing prices and cutting costs, including:
- Efficient resource management
- Understanding recoverability rates
- Rewards of proper project planning
- Achieving revenue targets without unnecessary expenses
- The importance of effective reporting
- Managing scoping and costing
- Rate cards and rate adjustments and proper pricing
Discover the essential strategies for boosting your agency's profitability and learn the insider secrets from industry experts in this episode – tune in now to supercharge your agency's success!
Episode Highlights:
- Two Aspects of Profitability: Overall and Project-Specific
- Profitability Strategies: Pricing, Cost Reduction, Billable Hours
- Efficient Resource Management
- Understanding Recoverability Rates
- Effective Project Planning and The Right Team Composition for Success
- Tracking Profitability via Specific Reports and Job Profitability Factors
- Setting Day Rates and Rate Card Adjustments and Regular Rate Revisions
- Approaching Clients About Rate Increases
- Key Takeaways for Agency Profitability
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Connect with our Host and Guests:
Host - Pete Hoole
Guests - Alfie Wenegieme & Joanne Reid
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