We believe so strongly in developing deep, trust-based relationships with every one of our clients, that we're going to share with you some inside knowledge. Below, are our Guiding Beliefs that every marketing organization should hold dear to their collective hearts. Understanding the importance of each of these - and insuring that your management staff understands them as well - is an important first step to managing and planning for your company's growth and securing its long-term profitability. We will promise you, however, that they are not as easy to implement as it may seem.
Guiding Beliefs:
- Monitoring the results of your business is just as important for the agency as it is for its clients
- Track Utilization and Realization of your agency’s billable time
- Give managers authority commensurate with their responsibilities
- If you expect to grow the agency, employees must be able to grow professionally. Otherwise they will leave just when you need them the most
- Hold firm on salaries and increase bonuses when rewarding employees. Salaries are like ratchet wrenches, they only go in one direction
- Be open about job profitability and closed on the agency’s profitability
- Delegate invoicing as you grow
- Allocate a portion of profits to be distributed among all employees — not just the stars
- Using small amounts of cash to reward good performance throughout the year does more to improve morale than paying bigger bonus checks at the end of the year
- Owners’ salaries should be in line with 15% of the agency’s Gross Income
- Calculate sales commissions on sales and agency profitability
- Allocate at least 10% of your Operating Profit to self-promotion every year