Brighton Summary - October 2024

Agency Business Growth

Key Takeaways

  1. FIMO-PC Framework:

    • Finance: Focus on key financial metrics (Turnover, GP/NP/EBITDA, Cash in Hand, etc.)
    • Marketing: Monitor advertising spend, customer retention, brand perception, etc.
    • Operations: Track utilization, processes, staff turnover, NPS, etc.

  2. Reasons for Underperformance:

    • Saying 'yes' to all requests
    • Not having the right people in the right roles
    • Lack of strategy, leadership, or effective marketing/sales
    • Delivering too many services for the agency's size

  3. The Four Rules for Growth:

    1. Simplify the Strategy and Business Model
    2. Stand Out and Just F***ing Do Marketing (JFDM)
    3. Adopt a Systems Mindset
    4. Be Profitable on Purpose

  4. Simplifying Strategy:

    • Use a one-page strategy document
    • Review daily (15 mins), weekly (30 mins), monthly (½ day), quarterly (1 day), and annually (2 days)

  5. Standing Out:

    • Develop a unique value proposition
    • Focus on brand, positioning, and clear messaging

  6. Just F***ing Do Marketing (JFDM):

    • Combine proactive processes (referrals, events, outbound) with inbound marketing
    • Create sense-making content (case studies, testimonials, social proof)

  7. Systems Mindset:

    • Develop templates, processes, and accountability measures
    • Think 'franchise' for repeatability and consistency at scale

  8. Being Profitable on Purpose:

    • Aim for 18% EBITDA and 50% Gross Margin
    • Review financials regularly and forecast

Action Items

  1. Create a one-page strategy document and implement regular review cycles.

  2. Conduct a differentiator analysis: identify your unique selling points and how they align with customer desires.

  3. Develop a comprehensive marketing plan that combines proactive and inbound strategies.

  4. Implement a 'sense-making' content strategy to help customers navigate complex decisions.

  5. Audit your current systems and processes; identify areas for templating and standardization.

  6. Set clear profit targets (e.g., 18% EBITDA) and implement regular financial reviews.

  7. Simplify your service offerings to focus on core competencies and profitability.

  8. Invest time in developing your agency's brand and positioning.

  9. Implement a daily 30-minute 'systems development' session for 6 weeks to gain efficiency.

  10. Conduct regular profitability analyses and be prepared to adjust your business model or positioning if necessary.

Remember: Focus on simplification, differentiation, systematic approaches, and intentional profitability to drive agency growth. Regularly review and adjust your strategy to stay ahead in a competitive market.

For more resources: Visit https://www.gyda.co/landing-brightonseo for the "Hitting The Glass Ceiling Audit"