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Hands-Off CEOThey said getting started was the hardest part, but no one told you how hard it is to scale a custom service business. Author: Mandi Ellefson
They said getting started was the hardest part, but no one told you how hard it is to scale a custom service business. Its time for your team to step up, but your clients want YOU. Discover how to scale to 7 figures and beyond by freeing up time and getting your team to run whole parts of the company so you can focus on scaling profits. That means more income, more time with your family, and more ability to make impact in the community and beyond. This is the Hands OFF CEO Podcast with Mandi Ellefson. Language: en Genres: Business, Management Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
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How Digital Agency Increased Profits by Doing Less - with Ralph Burns and Ryan Hodges of Tier 11 - E112
Episode 112
Friday, 15 November, 2024
How Digital Agency Increased Profits by Doing Less - with Ralph Burns and Ryan Hodges of Tier 11 - E112How Digital Agency Increased Profits by Doing Less - with Ralph Burns and Ryan Hodges of Tier 11 - E112In this strategic conversation, Mandi interviews Ralph Burns and Ryan Hodges of Tier 11, a digital marketing agency managing over $105M in annual ad spend. They discuss their journey of transforming from a chaotic 70-person agency to a streamlined, more profitable operation with 40 team members.Key Topics Discussed:[00:00-03:45] IntroductionOverview of Tier 11's business modelIntroduction to Ralph Burns (CEO) and Ryan Hodges (COO)Discussion of their podcast "Perpetual Traffic" with 12M+ downloads[03:46-09:30] Growth Stages & Breaking PointsEvery time you 2-3x your size, everything breaksFirst milestone: $100K/month revenueSecond milestone: $300K/month revenueThe importance of finding complementary talent[09:31-15:45] Acquisition StrategyUsing acquisitions to gain talentConverting contractors to full-time employeesBuilding strategic partnerships within the industryImportance of relationships with competitors[15:46-24:15] Operational TransformationReducing headcount from 70 to 40 while maintaining outputImplementing standardized systems and processesFocus on the 80% fundamentals of business operationsDiscussion of operational efficiency improvements[24:16-32:30] Client-Centric ModelTransition from accepting any client to selective partnershipsDoubling revenue per customerImproving client retention dramaticallyCreating strategic partnerships for referrals[32:31-39:45] Profitability & Team OptimizationIncrease in gross margins from 50-55% to 65%15-20% productivity increase through aligned purposeDiscussion of team motivation and cultureImplementation of standardized processes[39:46-44:15] Vision & LeadershipImportance of clear vision communicationHow to handle team members who don't alignCreating a legendary brand in the agency spaceBuilding operational excellence[44:16-50:02] Key Insights & ClosingFinding complementary leadershipThe importance of saying no to wrong-fit revenueFocus on metrics that matter to clientsDiscussion of ideal client profileNotable Achievements:Doubled revenue per customerIncreased gross margins by ~10%Improved team productivity by 15-20%Successfully transitioned from 70 to 40 team members while increasing efficiencyKey Business Insights:Focus on running the business properly (80%) versus just delivering services (20%)Importance of clear vision and purpose alignmentValue of complementary leadership skillsNeed for operational excellence and standardizationActionable Takeaways:Systematize vision communicationFocus on operational excellenceCreate strategic partnershipsImplement proper management systemsAlign team with company visionResources Mentioned:The "Hodge Wheel" - Vision, Journey, Culture, Results frameworkRocket Fuel by Gino WickmanClient Experience Engine methodologyPerfect For: Agency owners generating $1M-$5M+ in revenue who want to transition from chaos to operational excellence while increasing profitability and reducing personal involvement.Want to transform your agency from a resource-heavy operation to a streamlined, profitable machine? This episode provides the blueprint for making that transition while actually increasing client satisfaction and results.Ready to become a true Hands-Off CEO?Grab your copy of "The Hands-Off CEO" at handsoffceo.com/book and unlock the proven framework that's helped countless agency owners triple their fees while working less. Get the audiobook, PDF version, and valuable bonus materials - all for just $4.99.Don't wait to start your journey to freedom and scalable growth!
