Closing Out Properly

I’m curious.?

What do you do when a project comes to an end?

Usually, there's a sense of completion that follows - you've done the job to the best of your ability, wrapped things up, and now it's time to move on.

But here’s something you might not realize…

The job isn't done if you don't close out the project.?

You may have fulfilled your obligations, but there's more that you can do to prepare your company for the future. Closing out is the best way to do just that.

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Closing Out Projects The Right Way?

Whether it was a success or not, you'll want to organize an internal meeting where you can review all aspects of the project once a campaign ends.?

Why?

Recognizing the achievements and failures is vital, as every agency should be able to determine processes that went well and those that didn't.?

Plus, closing out projects is critical for value pricing. It gives you lots of insight that you can use to structure your billing correctly.?

So how do you close out your projects?

First, you should wrap up everything related to shared items or assets.

• Do you have to store, return, or deliver any assets to the client?
• Are there any additional activities you should charge your client for, such as storing items?
• Do you need to save, archive, or return any digital assets to the client?

Next, it’d be best to review project details.?

• What's the state of your budget and expenses?
• Did you reach the project goals, both as set by the client and internally? If not, why?
• If you’re to work on the same project again, how could you improve to achieve better results?
• What kind of impact did the project make on your team?

Finally, once you've gathered the relevant data, you should have a wrap-up meeting with your client. The additional feedback and insight gained from that meeting could be invaluable for filling out any missing information. It is also an opportunity for new business.?

If you aim to grow your company's value and quality, the closing-out process will prove to be a powerful tool.?

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If you want to gain more valuable insights and map out your business strategy,?apply to our accelerator program today.