Unless you work for glory (or the civil service), every business owner knows that being profitable is the sine qua non (an indispensable requirement) condition for survival… Even better than that, improving profitability is essential to stay in the game in a growing market.
Intentions are good, but having a strategy to achieve your objective is better.
Then how can you improve the profitability of your consulting firm or ESN?
Here are 9 tips to apply on a daily basis:
Calculate the time employees are working
We know it sounds obvious, but when in doubt, we’ll share with you our previous article on how to effectively track your projects over time.
Calculate the time spent on your pre-sales
Indeed, sometimes the pre-sales item is rather like a dustbin where you put everything you don’t really know where to put it. Or the competition where you spend 30K euros to win 10K… do you know how to measure the cost of your last pre-sale?
Have a profitability dashboard per customer
In a project, it is normal to win or lose (as little as possible, of course), but when it becomes regular and recurrent from project to project, you have to know how to do without the client! Furious helps you to see clearly so that you can put the emphasis where it is profitable!
Offer incentives for project profitability
If you motivate your employees to follow these indicators, you will quickly see that the challenge to do better will take over and it will be a win-win situation for everyone! With Furious, it’s simple and entertaining, try it!
Set up systematic project debriefing meetings
And with all project stakeholders at the end of each project with negative profitability. It is important to highlight this and to hear everyone’s perspective on the reasons for the loss of profitability.
Share out the purchases over your projects
Ask yourself this question: are you able to get a clear cost accounting to allocate a purchase to a specific project? Furious allows you to allocate a purchase to several projects in one click. This is very useful for managing a freelancer who works on 4 or 5 projects for example!
Analyse the projected profitability
Too often (when it is done) we vaguely know at the end of the project whether we have earned money or not. This is good for the historians of the project, it is of no use in fact because it is not decisive Knowing in advance the net profitability that a project will generate, it changes everything!
Furious enables you to visualise very clearly the gross and net profitability of your projects, and ultimately of your company.
Standardise the processes on the items you mostly sell
In other words: do you have an industrial process that saves your time on the projects you sell the most? Example: you regularly sell press releases or landing pages, do you have a process that guarantees that whoever or whatever team is working on it, it will take the equivalent time? This is a must-have that will boost your profitability!
Furious supports its clients in optimising and automating their processes and efficiently manages all the project phases.
Structure your management
To ensure that profitability monitoring frequencies are implemented, ideally on a weekly basis.
The objective is to quickly stop or refocus projects that are getting out of control. Furious is the virtual assistant of the manager who will automatically alert your executives well in advance of any project risk. Thanks to the anticipation engine! This avoids the “why is my project not profitable when I’m giving it my all?
In short, as you may have understood, no wind is favourable to those who do not know where to go. Furious is a control tower that allows you to manage your production and profitability simply and in advance.
No more excuses for not gaining in profit next year. 😉
