Would You Do THIS For Money?

We had a really important meeting with the team recently. 4th quarter goals. Brandon and I, as owners, are constantly looking to involve the team when setting goals or making big changes in the business so that we can be sure that our team is on board, motivated, and ready to put out their best work for our clients & partners.

Usually our meetings are upbeat, positive, and forward moving. But this quarter, our team saw a side of us that they hadn’t seen before. The first day of our three day team time was cold…strict…straight to the point.

You see, we took a few major steps back in the company this year due to very simple mistakes that could’ve been avoided if each member of the team was producing better work than they had been doing during the second and third quarters.

We ultimately had to look at the company as a whole, find the source of the problem, and fix it in order to produce the highest quality of work for our clients.

The biggest “a-ha” that Brandon and I found was that we really had to take a look at our business… each system in place, every employee, our clients… and make a major decision. We had to figure out what each piece of the business was costing us to lose vs. costing us to keep.

We have been very good over the years at adapting to change and adding new systems to push the company to the next level, but this process was totally eye opening so I had to share it with you.

I suggest if you are looking to take your business to the next level and make more money (who doesn’t want that?!), than you try this process too.

It’s similar to a pros and cons list with a twist…you need to decide what something would cost to lose it vs. to keep it…

Here’s an example:

Take a look at your employees  

You may be like many of our clients in the sense that before working with us they depended on ONE entry level tech guy. This employee served a purpose at the time they were hired, and the client probably just needed some sites built and managed…work that any entry level developer could do.

But now the client has seen success, and the company is growing, but their employee isn’t growing as fast as they are. They’ve reached a point that in order to grow, they need someone more experienced and more diversified to join the team.

One big challenge though… the client’s main problem was they were too afraid to let go of that employee even though they knew in order to take the business to the next level they had to get someone new.

This could be for a number of reasons, but the main reasons we’ve seen clients hang onto employees too long are 1. They put too much emotion in their decision to keep the person around despite their skill level or 2. They think that getting someone more advanced will cost them a lot more money.

Here’s where the lose vs. keep process fits in:

What the client should really be thinking is this…

How much money is it costing to keep the employee around vs. finding someone new?

Think about it. This employee is LIMITING the amount of output for the client. How many sales, new campaigns, deals, etc has the client lost from keeping this employee on the books?   

Now, let’s take a look at the flip side…

What would a newer, more skilled, and diverse employee MAKE them?

**Warning…shameless plug**

In our business, it’s easy for us to show the client where they are missing out on money because we have a whole team of people that bring different skills to the table that their one tech guy isn’t able to do for them.

And the kicker, many times we find out that they are actually paying more for their one guy than our whole team.

The result:

The client can now clearly see that the cost to keep their tech guy is damaging to their success. It’s holding them back.

And even though they don’t always let their tech guy go, they realize that in order to make more money, they have to get more people on the team that can work with their guy and help them get to the next level.

Here’s another example:

Take a look at your systems

Our business relies on the systems it has in place in order to be able to service more than 10 clients at a time on a monthly basis. So, I definitely know a thing or two about systems.

One thing we are consistently doing is looking at the systems we have in place, and making changes as often as needed to improve on those systems.

One example would be our main channel of communication. We’ve used several systems over the years for internal communication, but if we turned a blind eye and thought we had it right 3 systems ago we never would’ve found Teamwork PM.

We are able to use this tool to manage all the projects for every client in one place. Each team member can see the tasks they have to complete, the timeline to complete it, and are able to leave comments in the tasks for other team members to view and stay updated.

This is by far the best communication tool that we have found for our company.

We still are always on the lookout in case there’s something better, and we are always researching better ways to utilize Teamwork to its fullest.

Our most recent example of this is using the “Unbillable Time” feature for team accountability. In order to stop the team from making mistakes on client’s projects and get back to producing kick ass, quality work we found this gem of a feature in Teamwork and implemented it immediately.

Now, we have a better accountability system in place to hold a higher standard of performance to the team. If they mess up on a task, they log their time to fix the problem as unbillable, on top of the original time they spent to work on the task.

The team was resistant to this system at first, and of course we knew why… no one wanted to admit they were messing up…and now there is nowhere to hide.

So far this system is working awesome!

The team knows that in order to keep their job, they need to be constantly stepping up their game. Checking their work. Producing quality work. If not, the cost to them is we will be able to see who is underperforming and costing the business money so we can make the appropriate changes to fix the problem.

Genius, right?

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So I encourage you to do the “cost to keep vs. cost to lose” process for your company. You can do it with your employees, or you can do it with systems so you can improve them, but ultimately it’s a great process that always produces insightful information to get you moving in a better direction.

See you on the next blog. 🙂

Category: Other Articles

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Sam measures the success of our clients and partners by focusing on the overall vision of the campaign.
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