Overcoming a Lack of Clarity to Create 1.7x Revenue Growth Year Over Year
Robert Patin
? Creative Agency Growth Partner ? Marketing Agency Expert ? Consultant ? 2x International Best Selling Author - The Agency Blueprint & The Practical Agency ? Contract CFO ? Forbes Contributor
The Challenge
The agency was doing well.
It was just shy of seven-figure revenue before the brakes seemed to get put on its growth.?
The chief challenge was the owners now faced the typical founder’s dilemma. They were used to being in control of everything inside the agency. There was even a hint of the mindset that it wouldn’t get done correctly if they didn’t do the work. The two partners needed to escape this mindset to put people in place to handle the day-to-day operations inside the agency for them.
The owners no longer had the time to manage everything.
If the agency was to grow, they needed to relinquish some control.
Their Goals
For this agency, the goal was simple:
Break through the glass ceiling they’d hit to enable continued growth. After accomplishing so much in a short period, the client needed clarity and a team that could take them further.
Our Solution
First, we confronted the clarity issue.
We conducted a vision workshop with the clients, which we designed to help them determine their goals for the coming years. For example, where did they want the agency to be in three years? What about five? What did they want from the agency in a decade, and what did they need to put in place to make that vision a reality?
Answering these questions helped the owners to create a clear vision for the business going forward.
Piece by piece, we created an organizational structure that would allow the owners to grow the business into what they envisioned it to be.?
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Then, with that structure in place, we were able to ask the owners another question:
What do?you?want in?your lives?
They told us they wanted to remove themselves from the business's day-to-day operations, creating the time freedom that so many agency owners lose when they're mired in their work.
Knowing this, we worked with the owners to bring new people into the business, developing roles and creating training processes to ensure the new hires were up to speed and capable. This freed up the owners to spend their time working on the things they love doing, leaving them feeling more energized in their work.
The Result
The client set a goal of 30% year-over-year growth.
They smashed that goal, creating 1.7x in growth.
This created some aspects of economies of scale within the agency. The owners were able to create and implement new processes while bringing new people on board. The quality of these processes also allowed them to spend less money on these new hires, which boosted profits further.
Today, the agency generates $5 million in yearly revenue, which they achieved amidst the pandemic. We’re sure that further growth lies in its future.