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The hidden challenge in client expansion
Before you push for expansion, you have to ask yourself: What risks exist with this account? Are there risks that we haven’t considered before? In other words, does it have a strong enough foundation to support more scope, more spend, and more stakeholders without wobbling?
We call this process de-risking.
A metric you should be tracking: Net Revenue Retention (NRR)
Net Revenue Retention is an important metric for creative and tech firms. It quantifies your expansion, contraction, and churn within client portfolios. Read how to calculate it and what you can do to positive impact a healthy NRR.
Does your client team know how to sell?
You absolutely need new business, but what if you could get more business from the clients you’re already serving? It’s typical to see agencies and consultancies leaving 10-20% of a client’s current revenue on the table simply because they aren’t paying attention or asking the right questions.
8 Drivers of Value for Your Firm
Around 165,000 U.S. creative and tech firms could be preparing to transition ownership within the next five years.
And owners that think their retirement is in the value of the company could be in for a big wakeup call.
Profit ≠ Company Value
Plenty of businesses show healthy profit and still struggle to sell for strong multiples. Why? Because buyers pay for durability, not just past profit dollars.
Value is built on systems that keep results coming when the owner steps out.