How Agency Owners Can Work Less and Earn More with Karl Sakas

“When you start the agency, everyone expects you to be the contact. But you probably don't want to do that forever. Maybe initially you delegate implementation work, the subject matter expert stuff, or project management. Then you probably want to delegate account management stuff. Usually you're still doing client strategy, at least in the early to mid-days. The idea here is you're like, ‘Hey, so-and-so is great. They are your account manager. They're your day-to-day contact.’ They're running the, say, the monthly call or every other call. But you're still the client strategist. You're involved at the beginning of the engagement, and then things pass over to the account manger. Maybe you're making a quarterly or a semi-annual or annual appearance with those higher-level insights that only you could provide. But importantly, you are not the client’s day-to-day contact. You're not the one getting every single email or call. You just show up and share the magic. Your team is taking it from there.” – Karl Sakas   The finer details of this episode:Delegation and streamlining processes Understanding time management within an agencyMarketing agency operationsPreparing for an agency owner exit strategy    Episode resources:Summit Virtual CFO by Anders website: https://www.summitcpa.net/Love our content? Sign up for our newsletter: https://vcfo.summitcpa.net/ddc https://www.summitcpa.net/summit-newsletterDigital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddchttps://sakasandcompany.com/https://www.linkedin.com/in/karlsakas/     Timestamps: The Creative Agency Success Show (00:00:00) Introduction to the podcast and its purpose.   The title of the book (00:00:14) Discussion about the book "Work Less, Earn More" by Karl Sakas and its relevance to agency owners.   Workshop during team retreat (00:00:36) Praise for the workshop conducted by Karl Sakas during a team retreat and its impact on the team's perspective on creative agencies.   Introduction of Karl Sakas (00:01:30) Introduction of Karl Sakas as a guest on the show and a brief overview of his background and expertise.   Starting point of reading the book (00:04:03) Discussion on the reasons why people tend to read the book "Work Less, Earn More" and the relevance of the concepts in the book to agency owners.   Equity vs. Lifestyle continuum (00:05:45) Exploration of the continuum between running a lifestyle agency and an equity agency, and the importance of knowing where one wants to go in their business.   Financial considerations for business owners (00:10:31) Discussion on the financial aspects of running an agency, including the importance of earning a certain amount as a business owner and the considerations for selling the business.   Dealing with day-to-day tasks and responsibilities (00:13:53) Exploration of how agency owners spend their time, their preferences, and strategies for delegating tasks to improve efficiency and effectiveness.   Impact of team members on the selling process (00:15:54) Discussion on the role of team members in the selling process and their influence on potential buyers.   The buyer's perspective (00:16:26) Discussion about the role of an owner in the sales process and the impact on the buyer's perception.   Acquirer's goals (00:17:12) Insights into the goals and motivations of acquirers when purchasing agencies and the impact on the owner's involvement.   Top-down approach to planning (00:19:16) The benefits of starting with an ideal future vision and working backward to involve the team in achieving goals.   Involvement in client calls (00:22:37) Strategies for owners to participate in client calls without overshadowing the team or affecting the credibility of other team members.   Delegating account management (00:27:06) The process of transitioning account management responsibilities from the owner to the team and maintaining client relationships.   Reality TV show preferences (00:29:29) Discussion on favorite reality TV shows and the appeal of reality television.   Personal experiences with reality TV (00:32:10) Sharing personal experiences related to reality TV, including auditioning for shows and participating in game show tests.   The book and its formats (00:33:42) Karl discusses the availability of his book, "Work Less Earn More," in various formats and the recent release of the audible version.   Planning for the unexpected (00:33:48) Karl emphasizes the importance of planning for the expected to have time to improvise the unexpected, tying it to operations and enlisting the broader team.   Feedback on the book (00:34:50) An unnamed individual shares positive feedback on the book, emphasizing its easy readability and practicality.   Contacting Karl Sakas (00:35:37) Information on how to access the book and get in touch with Karl Sakas for further assistance.   Recommendation to start with the book (00:36:31) The co-host recommends starting with the book for practical applications and suggests that it serves as a good starting point for many.