Building a profit culture to fuel your growth

She is Nikki Gatenby, an agency specialist, non-exec director, and author on the subject of engagement and cognitive behavioural coach. Nikki has led, owned, managed and grown agencies in London, Paris and Brighton.

Her last agency going from Brighton to Global, marketing services to two SaaS technology products (AnserThePublic and CoverageBook), whilst being named one of the best places to work in the UK for eight years running.

They had a very deliberate approach to balance people on a par with purpose and profit, because they wanted to run the business in a way that was really motivating for everybody and to throw off enough money to reinvest in the business. That’s the journey she is going to take you on in terms of building a profit culture.

Having taken her exit in 2019, Nikki now works with other founders to help make their good agencies great, building them into a highly valuable asset, and an unstoppable force for good.

Finally, to have a profit culture, know your Lighthouse Numbers to make your commercial data actionable, know where you’re headed, and help guide everyone to get there.

In summary:

1. Know your numbers and make them visible. Ensure your team knows them, too. One of my clients established a profit club as well; it’s a great idea.

2. Balance your business, visualise that shape you’re in, and know your client concentration.

3. Look out for profit vampires, with everyone knowing what they can do to fend them off and liberate them with love where you need to.

4. Share your leading indicators, your pipeline, discuss the Kraljic matrix and understand the leading indicators that matter to you. Create that motivation about the future with clarity on your pipeline and the pulse of the business.

5. Drive with the dashboard lights on, have lagging and leading indicators, and make sure that the Lighthouse Numbers are memorable.