Team Not Staying Within Budget | #AskSwenk
Budget and time. In any digital agency or even business for that matter, these are a couple of aspects you need to always keep in the forefront of your priorities both internally and with clients. So here’s a question for you. Does your team understand the budget and it’s limitations that you set on a project?
Do you have a hard time getting your team to stick to the client’s budget and timing?
In this episode of Ask Swenk, I take you through a couple of key points of thing to do to get your team on board of maintaining budget limits that have been set. And most of all, ensure your agency can save time and make more money while doing so.
{0:21} Matthew asked: “We have trouble with the creative people on our production team staying within budget on projects. Any ideas on how to keep them accountable for budgets and timelines? I have tried everything I can think of with no luck.”
Pricing Correctly From the Very Beginning.
This can doom the project from the beginning if done incorrectly and this can be improved with looking at the time it will take to complete the project. By adding buffers to your time, it gives you that space to provide a better service and achieve it under budget.
Bad Processes
If you don’t have the correct processes and systems set in place with your different teams can cost the project for a client. Without clear communication systems between the client, the project manager and the team, this will add on time and cause you to go over budget.
Incentives
By providing the different teams and project managers within your agency a set goal of completing a project under time and under budget with the incentive of a percentage of that project profit or a salary bonus, this will encourage them to work within their limits and get the job done.
By using these points, your team will adapt how they work moving forward ultimately benefitting your agency.
Another one of my episodes in this series that relates to the topic of this of agency teams and finance can be found here.
You can also find more of my Ask Swenk series as well as my other videos by checking out my Youtube channel!
