Agencyphonics Agencynomics

Welcome back to another episode of Agencyphonics, we're talking today the secret sauce to profitability!  
In this episode, Cactus Managing Partners Joanne Reid & Alfie Wenegieme discuss strategies for profitability including increasing prices and cutting costs, including:

- Efficient resource management
- Understanding recoverability rates
- Rewards of proper project planning
- Achieving revenue targets without unnecessary expenses
- The importance of effective reporting 
- Managing scoping and costing 
- Rate cards and rate adjustments and proper pricing
Discover the essential strategies for boosting your agency's profitability and learn the insider secrets from industry experts in this episode – tune in now to supercharge your agency's success!
Episode Highlights:
- Two Aspects of Profitability: Overall and Project-Specific
- Profitability Strategies: Pricing, Cost Reduction, Billable Hours
- Efficient Resource Management
- Understanding Recoverability Rates
- Effective Project Planning and The Right Team Composition for Success
- Tracking Profitability via Specific Reports and Job Profitability Factors
- Setting Day Rates and Rate Card Adjustments and Regular Rate Revisions
- Approaching Clients About Rate Increases
- Key Takeaways for Agency Profitability
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Connect with our Host and Guests:

Host - Pete Hoole

Guests - Alfie Wenegieme & Joanne Reid
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This episode was brought to you by:
Cactus
The Agencynomics Community 
The Cactus Academy

In partnership with:
The Santé Group

Cactus Managing Partner, Alfie Wenegieme, took over for episode #79. Joined by Joe Walton, Co-Founder and Managing Partner of B2B Comms agency Fight or Flight.

As a former Managing Director of Weber Shandwick, Joe shared his story of leaving a big agency to set up Fight or Flight and how they grew it to 40 staff members across offices in London and New York in just 3 years.

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https://www.linkedin.com/in/joegileswalton/

https://fightorflight.com/

https://www.linkedin.com/in/alfie-wenegieme/

https://www.linkedin.com/company/agencynomicsbycactus/

https://www.linkedin.com/company/cact-us/

https://cact.us
   
https://agencynomics.com

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This episode was brought to you by:

Cactus, the Agencynomics Community and The Cactus Academy
https://www.cact.us/

Regular host, Pete Hoole, is in the guest's seat  for this episode, interviewed by Founder of personal branding agency Jago, Ryan O'Keeffe

In this episode, Pete & Ryan will delve into topics like reputation, insights from working with #agencyowners and top leaders, the significance of #emotionalintelligence in the capacity of an agency adviser and #M&A, and selling an agency.
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This episode was brought to you by:

Cactus, the Agencynomics Community and The Cactus Academy
https://www.cact.us/

https://community.agencynomics.com/

https://thecactus.academy/

In partnership with The Santé Group, leading independent specialists in Employee Benefit solutions and delivery.

https://www.nugentsante.com/

Gareth Healey returned, joined by Director and Founder of Tougher Minds and author of The Habit Mechanic, Dr Jon Finn.

Through his book and work, Dr Finn helps leaders promote positive change in their teams through better habits and encouraging them to fulfil their potential.

Gareth and Jon will be explored his approach, which is backed by cutting-edge neuroscience, behavioural science, psychology and world champions.

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https://www.linkedin.com/in/dr-jon-finn/

https://www.linkedin.com/in/garethhealey/

https://www.linkedin.com/in/spencergallagher/

https://gareth-healey.com/standout-or-die/

https://www.linkedin.com/company/agencynomicsbycactus/

https://www.linkedin.com/company/cact-us

https://cact.us
    
https://agencynomics.com

https://www.tougherminds.co.uk/

https://www.amazon.co.uk/Habit-Mechanic-Fine-Tune-Brain-Supercharge/dp/1544528965/

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This episode was brought to you by:

Cactus, the Agencynomics Community and The Cactus Academy 
https://www.cact.us/

https://community.agencynomics.com/

https://thecactus.academy/

In partnership with The Santé Group, leading independent specialists in Employee Benefit solutions and delivery. 

https://www.nugentsante.com/

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Are you claiming back R&D? Want to learn more? We recommend you speak with Forrest Brown R&D Tax Specialists to make sure you are getting all you deserve. https://bit.ly/3izdxMX

Are you automating those laborious HR processes? You could transform the way you work with Breathe.  Sign up for a free trial here: https://bit.ly/36kGDdT

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Agencynomics is a social enterprise dedicated to helping Agencies to adopt the practices they need to propel their Agency.

Agencynomics and Agencyphonics are not for profit.

Please follow us on Twitter, Instagram and LinkedIn @Agencynomics

Pete Hoole returned to the studio for episode #75, joined by Ryan Lisk, founder of Hybrid Legal.

During the show Pete told the story of setting up an agency with Ryan offering legal advice which would help maximise profits and minimise risk.

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https://www.linkedin.com/in/ryanmlisk/

https://www.linkedin.com/in/peterhoole78/

https://petehoole.com

https://www.linkedin.com/company/agencynomicsbycactus/

https://www.linkedin.com/company/cact-us

https://cact.us
    
https://agencynomics.com

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This episode was brought to you by:

Cactus, the Agencynomics Community and The Cactus Academy 
https://www.cact.us/

https://community.agencynomics.com/

https://thecactus.academy/

In partnership with The Santé Group, leading independent specialists in Employee Benefit solutions and delivery. 

https://www.nugentsante.com/

--------------------------------------------------------------------------------------------------------------

Are you claiming back R&D? Want to learn more? We recommend you speak with Forrest Brown R&D Tax Specialists to make sure you are getting all you deserve. https://bit.ly/3izdxMX

Are you automating those laborious HR processes? You could transform the way you work with Breathe.  Sign up for a free trial here: https://bit.ly/36kGDdT

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Agencynomics is a social enterprise dedicated to helping Agencies to adopt the practices they need to propel their Agency.

Agencynomics and Agencyphonics are not for profit.

Please follow us on Twitter, Instagram and LinkedIn @Agencynomics

Dan Archer takes the reins for episode #74, joined by John Keating, Founder & MD of Dark Horse, the no bulls**t digital marketing agency. 

John shares the story behind the Dark Horse brand, and how they built a strong brand positioning to stand out from their competition.

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https://www.linkedin.com/in/databroker/

https://www.linkedin.com/company/thisisdarkhorse/

https://www.linkedin.com/in/archerdan/

https://www.linkedin.com/company/agencynomicsbycactus/

https://www.linkedin.com/company/cact-us

https://cact.us
    
https://agencynomics.com

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This episode was brought to you by:

Cactus, the Agencynomics Community and The Cactus Academy 
https://www.cact.us/

https://community.agencynomics.com/

https://thecactus.academy/

In partnership with The Santé Group, leading independent specialists in Employee Benefit solutions and delivery. 

https://www.nugentsante.com/

--------------------------------------------------------------------------------------------------------------

Are you claiming back R&D? Want to learn more? We recommend you speak with Forrest Brown R&D Tax Specialists to make sure you are getting all you deserve. https://bit.ly/3izdxMX

Are you automating those laborious HR processes? You could transform the way you work with Breathe.  Sign up for a free trial here: https://bit.ly/36kGDdT

--------------------------------------------------------------------------------------------------------------

Agencynomics is a social enterprise dedicated to helping Agencies to adopt the practices they need to propel their Agency.

Agencynomics and Agencyphonics are not for profit.

Please follow us on Twitter, Instagram and LinkedIn @Agencynomics