Accurate estimation is the foundation of an agency’s profitability. Without the ability to accurately assess how much effort it is going to take to get an outcome for a client, it is extremely difficult to maintain healthy margins and avoid late nights and weekend work.
In this episode of The Agency Blueprint, we have Marcel Petitpas. He is the CEO & Co-Founder of Parakeeto, a software company that helps agencies increase profitability by generating accurate, data-driven estimates in seconds using their existing time-tracking data.
If you want to learn more about how to generate accurate estimates for your agency's projects, join us in this episode for expert advice.
Key Questions:
- Why is estimation important for agencies? (1:33)
- What mistakes do most agencies make in estimation/scoping? (3:27)
- What are the 4 keys to an accurate and scalable project scoping process? (8:25)
- What do you do if you come in to help an agency and they are not tracking base data needed? (10:33)
- Can you use percentage of resource time to estimate when you do not have exact number of hours? (14:58)
- What is the “Agency Profitability Flywheel” and why it is important? (17:58)
What You'll Discover:
- How to get your financial statements to reconcile with sales budget and estimations. (5:27)
- The reasons creative agencies are not making assumptions about scope of work correctly, and how they can start doing it right. (6:56)
- What an agency can change if they are working on too many things to track efficiently. (16:47)
Links
Agency Profitability Toolkit
Agency Profit Podcast: https://agencyprofitpodcast.simplecast.com/
LinkedIn: https://www.linkedin.com/in/marcelpetitpas/
