The Agency Roadmap: Growth - There’s a Right Way to Get There
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Getting your agency’s operations dialed in, smoothly integrated and optimized to achieve optimal profitability are the goals of any forward-thinking leadership team. What’s often overlooked, however, is the follow-up and follow-through. Your shop has been working to get the most out of its talent and technology, but the work doesn’t stop once that ideal performance state is achieved. In fact, it’s really just the beginning. It’s imperative that you plan to sustain your success so that advantageous strategies evolve in step to support your continued growth. And perhaps more importantly, now you can dedicate some focus to building that robust new-business pipeline!
When it comes to enviable agency growth, many think speed is the priority. Everyone wants to get big, fast. But be cautious about that kind of haste drive without a smart plan. Rushing forward without establishing your identity within your target industries, under- or over-estimating your pricing, or ensuring the establishment of a strong portfolio can mean an unstable marketplace presence -- one that is likely to be short-lived. Taking care to thoroughly think through your potential pipeline and forge strong partnerships, however, is a recipe for sustained success.
As the great minds of your agency assemble, they need to think about long-term success as much as winning business today, specifically:
- Projects: Bring in the right business for your agency. Land work in your wheelhouse.
- Talent: Know your pipeline and you know who you’ll need. You’ll staff up, outsource, and hire freelancers with maximum efficiency and effectiveness.
- Profitability: Smart use of resources and building effective client partnerships means real financial success.
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With those three internal priorities understood and getting the required energy and attention, agency leadership can then concentrate on the six critical factors that must be addressed to ensure growth that is truly sustainable. This ensures agency health for the long-term as much as for today.
Deltek’s Agency Roadmap identifies these factors, our Six Pillars of Growth, as:
What sets your agency apart from the competition? What ensures you stay focused on what you do best? Find that balance between doing great work and delivering standout value.
Regardless of your pricing model, prepare for the unexpected beyond your scope of work. Don’t hesitate to charge accordingly to keep over-servicing and scope-creep in check.
The right mix of clients should line up well with your agency’s positioning. This sharpens your industry “sweet spot”, letting you pass on prospects that don’t fit, and picking up projects that play to your strengths.
A picture of revenue potential lets you make more timely hires while keeping you up to speed on the agency’s financial trajectory. Remember to factor in future revenue such as backlogged projects and incoming orders.
Seeing what’s on deck means you can manage your agency’s future. Get visibility on the total value of potential incoming orders and potential opportunities to shape your new business strategy.
Transparency is the rallying cry of today’s business relationships. A culture of openness and collaboration forges trust, illuminates budget and timelines, and reinforces your credibility.
If you’re ready to learn more about solutions that will support this enlightened growth strategy, be sure to download Deltek’s Agency Roadmap today.
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