Teamwork.com’s Post

Positioning, niching down, value pricing - that's the drum we've been banging as an industry for the last decade or so as we've tried to fight back on our eroding margins. But what do we do now that those things have become table stakes? My thesis is that the next era of specialization for agencies has to do with "Internal" specialization. That is, looking at the operations of the business, recognizing where our strengths are as a team, and focusing on doing more of those things while outsourcing the rest.

You don't need to track time! That's the last thing you'd expect to hear from me, but it's true. The juice probably isn’t worth the squeeze if you fall into one of these categories: - You want to keep your firm small and run a lifestyle business - You're embracing a "hustle" culture and have a team that doesn't mind working a lot of overtime - You have a results-oriented compensation model and only pay people based on how much revenue they bring in - You plan to almost exclusively staff projects with freelancers who are paid a flat rate for that work However, if you don't fall into one of those categories, and want to scale a firm that has good margins and doesn't burn your people out - time-tracking data will be your best friend. It's the only way to truly understand if your projects and clients are actually profitable and protect your team from being consistently overworked. Keep in mind that time-tracking data doesn't mean using timesheets. Timesheets are a common way to get that data, but not the only way (leave me a comment if you want to learn more about alternative methods to tracking time without asking your team to fill out timesheets) If you're struggling with time tracking, or are worried about it feeling like a burden to your team, here's my advice on how to get started: 1. Start with just delivery time. Internal/non-billable time is a "nice to have", but not a "need to have". Focusing on the time spent doing client work will be the most important data set to focus on first, and can help reduce the scope of time tracking to make it easier on the team. 2. Include your team in the feedback loop. The best way for your team to understand why you track time is to be involved in the conversations that happen around that data. Sit down with them to review where estimates vs actuals aren't lining up and ask curiosity-based questions to get them sharing their perspective on why those gaps exist, and how to close them. Discuss utilization rates and capacity forecasts and show them how you make decisions about staffing and resourcing. There's nothing I've seen that organically addresses all the issues agencies face around time tracking (compliance, resentment, bad data, etc) quicker than this. If you want more resources on how to successfully implement time tracking, let me know in the comments!

For this month's team highlight, get to know SUM's resident Growth Specialist, Arjen Schipper! We’re proud to have dedicated and talented individuals like Arjen on our team. Check out what's his SUM superpower, biggest win and favorite SUM memory 🌟 Stay tuned to get to know the rest of the SUM Digital team! #SUM #employeehighlight #gettoknowSUM #scaleupsuccess #scalablegrowth #growthmarketing

Get ready for an insightful chat on Kaya Cast this week with Ryan D'Wolff Munro from Dutchie! From aligning values to managing resources, we cover it all. Get your business cannabis-ready! 🎯🌱 Learn more here: web.kayapush.com/4cAhrA1  #BusinessInsights #Business #KayaCast

There has to be thoughtfulness and strategy when it comes to how you hire, coaching your team and empowering key leaders to level up. Ryan D'Wolff Munro, thank you for the topics you covered on our recent episode of the Kaya Cast. Super high value nuggets for all entrepreneurs and management. If you haven’t yet subscribed, honestly, your missing out. Check out the latest episode that we just dropped. Knowledge is Power. What’s more powerful is what you choose to do with it. 🎙️🎧🔥🔥🔥👇✅

📣 ANNOUNCEMENT! 📣 Things are changing at We Are Tabono… or should I say at Anna Verghese Consulting… 🥳 Watch the video below to find out more, and check out my shiny new website! www.annaverghese.com

Excited to share how Roitels' Revenue Management Service Packages are transforming businesses! 🚀 Check out our latest reel and unlock unparalleled growth opportunities. Explore now! #Roitels #RevenueManagement #ServicePackages 🎥🌟

Here’s a winter holiday gift from Couranto ~   An informative newsletter featuring management insights, real case studies, personal invitations to our events, and much more.   Couranto has been helping corporate clients manage their information budgets since 1989, and we have a wealth of experience to share.   Join true experts now: https://lnkd.in/d9bhyV2K   #couranto #realexperts #datamanagement #businessintelligence

Boost your firm's revenue potential to meet those EOY goals! 🙌 Check out Insightful Accountant’s recent webinar featuring our CEO, Hamed Abbasi and Michelle Felip from Jade Consulting Inc., to discover the powerful revenue-boosting potential that AP services can provide. Watch the replay to explore the advantages of incorporating AP services into your portfolio and how to unlock sustained success for your business. https://lnkd.in/eb8xZCb2

📧 📧 📧 It was a pleasure to speak with GCEO and GCFO of Singapore Post, Mr. Vincent Phang and Mr. Vincent Yik yesterday on Securities Investors Association (Singapore) Corporate Connect supported by SGX Group. In its latest Strategic Business Review announcement, SingPost's GCEO and GCFO outline their plans to transform SingPost from a "National Postal Service Company" to a "Pure-play International Logistics Enterprise". SingPost will be regroup into 3 Business Units: Singapore, Australia and International. This will help the group realise its potential market value which the board recognise that the “current share price does not appropriately reflect the intrinsic value of the company.” And this is apparent considering the value of the SingPost Centre which is unleveraged, and has a higher value then SingPost’s Market Cap. But in my opinion, the group’s Australia Business is where SingPost’s Growth Potential is. Looking at its unaudited financials with Border Express Pty Ltd, the Australia Business revenue would be more than 5x that of Singapore! Making SingPost no longer just a Singapore Postal Company. The acquisition and merger of Border Express Pty Ltd and CouriersPlease will make SingPost a Top 5 Logistics Player in Australia! where its integrated logistics market forecast is expected to reach US$129bn by 2028. Investors should now look at SingPost as an established Leading International eCommerce Supply Chain and Logistics Operator with 85% of its revenue generated overseas and this would make you rethink what kind of value SingPost can bring with its Strategic thrusts over next 3 years! Since the announcement, SingPost's share price has risen close to 10% this week and that's a testament to the positive reception the market is giving to the group's strategic plans. I would like to thank Mr. Vincent Phang and Mr. Vincent Yik for taking time out of their busy schedule to share SingPost's Strategic Plan with us and do look out for their latest business initiatives which they will be rolling out in the coming months. Special thanks to Selena Chong for helping us to arrange this webinar! 💌 💌 💌 #SingPost #SIAS #CorporateConnect #SGX #Singapore #Australia #International