Profitability should be an agency business’s focus from the outset. The challenge, however, is that a lot of agency owners struggle with maximizing profits especially with their website projects.
One of the biggest reasons for this dilemma is undercharging. And we’re not just talking about undercharging by a couple of bucks, but by the thousands of dollars. But just like any other problem this has a solution.
In this podcast episode, Chris teaches how agency owners can start charging for website projects appropriately. He talks about the reason why website work is difficult and gives practical steps to resolve those difficulties. He also shares a tool you can use to create quotes on these projects.
If you believe that you deserve to run a profitable business starting today then this episode is definitely for you.
Discussion Points:
- 0:00 Introduction
- 3:53 Profitability allows you to accomplish your life’s mission
- 5:35 Chris’s take on losing money on websites
- 7:13 Why is website work difficult? You don’t have the correct data
- 8:20 Chris’s experience working at Chuck E. Cheese
- 16:24 An agency’s biggest expense is PRODUCTION, LABOR, TIME
- 17:26 Sell on value
- 18:09 Look at the cost of goods
- 19:04 Formula to evaluate if something is worth your time or not
- 20:10 Track your time to maximize profitability
- 21:39 BLOOM2go and how it works