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Profit & Growth Tips for Digital Agencies

How Resource Management Makes It Easier for Employees to Prioritise Their Work

Posted by Nicolas Jacobeus on Aug 10, 2016

Resource Management can provide valuable insights that help agency founders make important strategic decisions to facilitate the growth of their agency. But effective Resource Management is also useful for employees, providing them with a high-level view of the agency’s workload so they can prioritise their workload accordingly.

Today I’m looking at 5 ways a Resource Management tool, like Scale, can help your employees prioritise and balance their work.

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5 Ways Your Agency Can Diversify Its Revenue Streams

Posted by Nicolas Jacobeus on Aug 8, 2016

Most digital agencies have just one source of income: their client work. This makes your agency extremely susceptible to financial ups and downs depending on the number of projects you’ve got in the pipeline. In order to stabilise the agency’s financial situation, many digital agencies are starting to look at expanding their service offering in order to diversify their revenue streams.

Today I’m looking at five ways your digital agency can diversify its revenue streams to improve its financial stability.

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Why a Timesheet Tool Isn’t Enough for Your Digital Agency

Posted by Nicolas Jacobeus on Aug 3, 2016

For your digital agency to grow profitably and sustainably, time tracking is essential. But a timesheet tool alone isn’t powerful enough to provide all the insights you need to run a growing digital agency. Today I’m looking at 3 limitations of a simple timesheet tool, and the insights you’re missing out on by not expanding your agency management toolkit.

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How to Use the Project Management Triangle to Improve Agency Profitability

Posted by Nicolas Jacobeus on Aug 1, 2016

All of your agency projects are bound by three constraints: scope, cost and time. This is known as the Project Management Triangle (or Iron Triangle) and these three constraints directly affect the quality of your projects, as well as how profitable your projects are. Today I’m looking at how you can use the Project Management Triangle to improve your agency’s profitability.

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How Your Digital Agency Can Get Paid Faster

Posted by Nicolas Jacobeus on Jul 27, 2016

One of the major limitations of agency growth is unpredictable cash flow. Even when your agency is working at full capacity on billable work for your clients, if you’re not being paid promptly then cash flow will still be a problem.

Today I’m looking at 4 things you can do to encourage your clients to pay their invoices sooner, to improve your agency’s cash flow.

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How Your Digital Agency Can Survive Bad Customers

Posted by Nicolas Jacobeus on Jul 25, 2016

It’s inevitable that at some point you will work with customers who are a poor fit for your agency. These bad-fit customers can damage your agency in two key ways: financially, draining more resources than you generate from working with them; and emotionally, damaging team morale.

So what do you do when you find yourself working with a bad customer, in order to minimise the damage to your digital agency?

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How (and Why) Your Agency Should Run Project Retrospectives

Posted by Nicolas Jacobeus on Jul 20, 2016

Retrospectives are an important part of the agile project management process, and working in an agile way can help to improve your agency’s efficiency. Today I’m looking at how your digital agency can run retrospectives for your projects, and why they are a valuable use of your team’s time.

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How Detailed Does Your Agency Time Tracking Need to Be?

Posted by Nicolas Jacobeus on Jul 18, 2016

Time tracking is essential for maximising your agency’s profitability. But some companies track their time down to the minute, where others don’t break it down any further than their two-week project sprint.

If you’re just starting to track your agency time, how granular you go will depend on why you’re tracking time. Is it to work out your billing, or is it an internal-only process to ensure you’re charging appropriately for your work?

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7 Processes Your Digital Agency Should Be Documenting

Posted by Nicolas Jacobeus on Jul 12, 2016

Documenting and implementing processes are essential for making your agency more efficient, reducing the amount of time you spend on non-billable work.

Some of your agency’s processes can be automated, to make them even less time-consuming – anything a computer can do reliably and quickly like chasing invoices – but other processes require a high level of involvement from your employees. Today I’m looking at 7 important processes that involve the people in your agency, which you should document to improve efficiency.

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4 Tips for Keeping Your Agency Projects On-Budget

Posted by Nicolas Jacobeus on Jul 6, 2016

When your agency overspends on a project, or commits more of your employees’ time than you’d budgeted for, it damages your profit margins. With profitability so essential for growth, it’s vital that you work in a way that maximises the chance of your projects coming in on-budget.

So today I’m looking at 4 tips to help you run your agency projects more effectively to prevent them from going over-budget.

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