Team structure, hiring, and equity: Agency Office Hours Q&A with Karl Sakas

Office Hours Recording from August 10, 2021

Get agency advice on project management, business development, hiring, value-anchoring, and more in the August 2021 episode of Agency Office Hours with Karl Sakas. Click to jump to a specific Q&A segment:

  1. TEAM STRUCTURE: What are the finances behind hiring a Project Manager? [starting at 2:11]
  2. MARKETING: Should we consider giving away services for free? [starting at 12:03]
  3. COMPETITION: How do we compete with free services? [starting at 14:37]
  4. NEGOTIATION: What should we say when a client wants a discount? [starting at 16:58]
  5. RECRUITING: How do we find the right employees in a tight labor market? [starting at 20:26]
  6. HIRING: What’s a sign that a job candidate is hiding something? [starting at 22:44]
  7. EQUITY: Should we consider selling shares to a key team member? [starting at 25:14]
  8. VALUATION: Do we need a formal company valuation? [starting at 35:00]
  9. INCENTIVES: How can we motivate key team members, beyond equity? [starting at 39:07]
  10. PHANTOM STOCK: What are the benefits of doing phantom stock? [starting at 40:57]
  11. BUSINESS DEVELOPMENT: What if we’re always the most expensive option? [starting at 44:27]
  12. SALES PROCESS: How do we get client decisionmakers to participate? [starting at 46:00]
  13. SELECTIVITY: How can we tell if a sales prospect is shopping around? [starting at 53:11]

Top resources from the live event:

  1. Here’s Karl’s article on the 3 hiring questions (why us, why this job, why now?).
  2. Be careful if someone *can* do the job, but doesn’t *want* to do the job you need them to do. They’re a “reluctant employee.”
  3. As a “thought exercise,” consider what would happen if you suddenly had to cut prices:
  4. If something is free, be sure it’s “strategically free” rather than “secretly free.”
  5. What’s different about a Project Coordinator, Project Manager, or Director of PM?

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