{"id":2921,"date":"2023-11-14T06:43:28","date_gmt":"2023-11-14T06:43:28","guid":{"rendered":"https:\/\/gothrive.uk\/?p=2921"},"modified":"2023-11-15T08:36:39","modified_gmt":"2023-11-15T08:36:39","slug":"growing-up-business-foundations-agency-growth","status":"publish","type":"post","link":"https:\/\/gothrive.uk\/index.php\/2023\/11\/14\/growing-up-business-foundations-agency-growth\/","title":{"rendered":"Growing up: The fourth and final critical hurdle on the way to \u00a35m income"},"content":{"rendered":"\n
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Growing up: The fourth and final critical hurdle on the way to \u00a35m income<\/strong><\/h2><\/div>\n\n\n\n
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14th November 2023 – by Paul Muggeridge-Breene,<\/a> Thrive CEO<\/em><\/p><\/div>\n\n\n\n

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Your agency may have taken years or even decades to pass \u00a33 million of income. It will surely have been the most extreme of rollercoaster rides, with countless ups and downs along the way. You\u2019ll have overcome all manner of challenges – some of them personal to you<\/a>, the founder, and some of them about how your agency is structured<\/a> and managed<\/a>.<\/p>\n\n\n\n

Now, as you continue your journey to achieving \u00a35 million income<\/a>, you have one more critical hurdle to clear.<\/p>\n\n\n\n

The challenge<\/strong><\/p>\n\n\n\n

Put simply, to successfully pass the \u00a34 million income mark, your agency needs to grow up. It\u2019s now a mature business, regardless of its actual age, and it needs to behave accordingly. What this means is that the kinds of gaps that exist in the foundations of many smaller agencies, for example around policies and processes, are no longer acceptable. Both your employees and your clients have much higher expectations of this size of agency, and are far less forgiving of any problems.<\/p>\n\n\n\n

If these gaps aren\u2019t filled, you\u2019ll find that recruitment and winning new business will suffer. The kinds of experienced team members you need to employ at this stage of growth will look elsewhere, and procurement teams at potential new clients will simply rule you out of processes to win new business.<\/p>\n\n\n\n

The solution<\/strong><\/p>\n\n\n\n

To clear this hurdle, you need to manage a thorough review of your agency\u2019s business foundations to make them fit for purpose – not just for the current situation, but also for the foreseeable future.<\/p>\n\n\n\n

As you\u2019d imagine, this should be considered a priority activity to ensure it receives an appropriate level of attention and focus. One way of doing this is to give one of your senior managers ownership of the process, setting clear expectations and an ambitious timeline for delivery.<\/p>\n\n\n\n

Although every agency is different and will be starting from a different place, here are some key things to keep in mind:<\/p>\n\n\n\n