E84: Leveraging Point Pricing for Marketing Retainers with Phil Lockwood

Show Notes:

Phil has been in the web business for over 17 years. During that time he has founded or led 11 different companies, including a 70-person agency. He currently runs the agency he started, Creation Chamber. He’s a favorite guest on the Digital Agency Show, and we’re welcoming him back to the show to discuss his experiences with creating culture… and with moving to a points-based billing system.

 

Highlights:

  • Why fun is Phil’s top priority.
  • What actually represents culture. (Hint: it’s not foosball tables.)
  • What the Fibonacci sequence has to do with billing.
  • How points-based billing could work for you.
  • Best advice ever received: “The way you do anything is the way you everything“ (see Tim Ferriss ‘s Tools of the Titans)
  • Habit that contributes to success: attention to detail (try drawing!)
  • Favorite tool: 15Five – automated OKRs
  • Book recommendations: Exceptional Service Exceptional Profit by Leonardo Inghilleri

 

Links:

 

Quotes:

  • “You’re our Alec Baldwin.”
  • “Past experience is not as valuable as you might think.”
  • “(Fun) really is my top priority.”
  • “No one can be more responsible outside of that CEO role.”
  • “I don’t think foosball tables represent culture.”
  • “The work itself should be fun.”

 

Takeaways:

 

  • Review the following documents to see if points-based billing is right for you.
  • Points billing article
  • Video Intro for the Google Sheet Assets: Video
  • Phil’s Retainer Tracker Google Sheet. Feel free to make a copy for use in your agency. Retainer Tracker Google Sheet
  • Phil’s Public Point-Based Services Menu (for clients, so that they don’t see your hours and multipliers). Note that you’ll need to update the formulas in both columns with the ID of your copy of the Retainer Tracker Google Sheet. The Public Point-Based Services Menu