There's always a delta between how much your agency could earn and how much you actually do earn. There are some very straightforward reasons why this delta exists and some fixes to close that gap. In this video, I'll share some ideas on both.
There's a delta between what your agency could be earning and what you earn today. If you don't know what that is -- how can you solve for it so you can close the gap. This is an example of agency math that every agency owner should understand and be applying to their shop. Download a copy of the step-by-step math and how it can change lives! https://agencymanagementinstitute.com/wp-content/uploads/2021/08/AMI-OpportunityLost.pdf
It's a seller's market out there for agencies looking to hire. Candidates are having a heyday using one offer to negotiate against another and many agencies are being "scooped" by faster moving employers. So how do you win?
Trading for services sounds like a great idea but in most cases, the end results are a broken relationship and work that isn't what you needed or wanted. Would you ask your doctor to trade services? Maybe we shouldn't do it either.
You have worked your tail off as an agency owner. Blood, sweat, tears and a lot of late nights sweating payroll in the beginning. And yet -- you are way too quick to give it away. Many agency owners think that a gift of stock will keep a key employee. I'm here to tell you why that is rarely the right choice. For you or the employee.
I love agency owners. They're smart, funny, creative and generous. They're also the most optimistic pessimists I've ever met! If you own an agency, and despite how well things are going, find yourself knocking on wood and looking over your shoulder -- you are not alone. I have some ideas on how to shake that nagging worry.
When most agencies sent their employees home last year, there were additional expenses that cropped up. Bigger monitors, cell phones, internet, etc. Now that agencies are heading back to the office (or even if they're staying remote) they're deciding which of those expenses are the agency's responsibility and which are the employees? Here's how agencies are approaching this additional cost.
I received a lot of questions from last week's video on the potential costs of hiring someone who lives in a different state than your agency is located or in agreeing to allow an employee who is moving out of state to keep their job. In this week's video -- I get into more detail about how you find out exactly what that out of state employee is going to cost you BEFORE you hire them or agree to keep them on staff.
At first glance, it's an attractive idea to source employees from anywhere. And, when one of your team tells you they're moving and assumes they get to keep the job...what would be the harm? Unfortunately, there's a lot of painful and costly realities under the surface of these decisions. Don't say yes until you've done your homework.
Many agencies make this classic mistake when pitching for new work. Just remember -- give them dessert first!
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