Latest Agency Business Advice from Karl Sakas

Agency profit margins: How much can you afford to pay freelancers?

A client in the UK recently asked: "I've been experimenting with outsourcing for the past few months and I've been unsure what a 'fair' profit margin/markup I need to be making. I was wondering if you had any thoughts on this." It's important to mark things up. You need the markup to cover administrative overhead---it's how your agency stays … [Read More...]

The “Agency Problem” at agencies

Many of your headaches as a business owner stem from what economists call the "agency problem." Investopedia defines this economics term as: A conflict of interest inherent in any relationship where one party is expected to act in another's best interests. ... The agency problem is also known as the "principal–agent problem." People Put … [Read More...]

15 Interview Questions to ask when you hire a salesperson

I've helped several clients hire salespeople for their agencies. Sales recruiting is tough, because salespeople are good at selling themselves---but may not be good at selling your agency's services. Asking good interview questions---and paying close attention to the answers---will help you find better salespeople. Use these questions to find … [Read More...]