If your agency’s leaking profits during Client Delivery, you need good data to fix this. Start by defining the right time tracking categories for your firm.
Do you ban your agency’s employees from doing freelance work? That’s probably a bad idea. Here’s why to consider a moonlighting policy instead (including some samples).
If you aren’t getting at least 20% net profit margins, your agency is “leaking” profits. Use my Agency Value Chain framework to help you systematically find those profit leaks so you can fix them.
Avoiding something important at your agency, or frustrated your team isn’t getting things done? You need all three of these factors: Desire, Competence, and Capacity.
Keep having problems with an employee? If your verbal warnings aren’t fixing things, it’s time to put them on a Performance Improvement Plan (PIP). Let’s look at when to use a PIP, how to write a PIP, how to introduce a PIP to the employee, and what to do if the PIP doesn’t work. You’ll also get a free template.
Do your non-billable people need to track their time? Maybe… or maybe not. See the pros and cons of time tracking to decide at your agency.