Hands-Off CEO

In this episode of Hands-Off CEO, Mandi Ellefson interviews Liz Elting, author of “Dream Big and Win” and founder of TransPerfect, which she built into the world’s largest language solutions company. Starting from an NYU dorm room at age 26, Liz shares her journey of scaling a business while maintaining exceptional service quality.

Liz discusses how she transformed her company by implementing innovative strategies to empower employees to think and act like owners. She emphasizes the importance of building world-class sales and production teams early, with compensation structures that align employee incentives with company goals. Rather than traditional fixed salaries, she advocates for arrangements that offer lower base pay but significant upside potential tied to performance.

A key insight from the conversation is Liz’s approach to fostering innovation within her organization.
She regularly asked employees: “What would you do differently if you owned the company?” and, importantly, gave them the authority to implement their ideas. This created a culture of ownership and continuous improvement.

The discussion also tackles the challenges of stepping back as a CEO. Liz candidly shares her early mistakes, including working through maternity leave due to lack of proper delegation systems. She stresses the importance of establishing succession plans early, noting that it becomes more difficult to step away as the company grows larger.

Throughout the interview, both Liz and Mandi emphasize that scaling actually makes business easier when done right, challenging the common assumption that bigger means more complicated. Liz’s parting advice: “Don’t think small – it can be easy to run a small or big company. It actually got easier over time because we had more options.”

The episode provides practical insights for business owners looking to scale while maintaining quality and creating a sustainable organization that doesn’t depend solely on the founder’s involvement.

Listeners can find Liz’s book “Dream Big and Win” on Amazon and major retailers, and connect with her on various social media platforms including LinkedIn, Instagram, and X (Twitter).

Want to transform your agency from a resource-heavy operation to a streamlined, profitable machine? This episode provides the blueprint for making that transition while actually increasing client satisfaction and results.

Ready to become a true Hands-Off CEO?

Grab your copy of “The Hands-Off CEO” at handsoffceo.com/book and unlock the proven framework that’s helped countless agency owners triple their fees while working less. Get the audiobook, PDF version, and valuable bonus materials – all for just $4.99.

Don’t wait to start your journey to freedom and scalable growth!

Resources: 

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Instagram | Executive Briefing

Liz Elting on LinkedIn | Instagram | Website

Elizabeth Elting Foundation – Website | LinkedIn

TransPerfect – Website

How Digital Agency Increased Profits by Doing Less - with Ralph Burns and Ryan Hodges of Tier 11 - E112How Digital Agency Increased Profits by Doing Less - with Ralph Burns and Ryan Hodges of Tier 11 - E112In this strategic conversation, Mandi interviews Ralph Burns and Ryan Hodges of Tier 11, a digital marketing agency managing over $105M in annual ad spend. They discuss their journey of transforming from a chaotic 70-person agency to a streamlined, more profitable operation with 40 team members.

Key Topics Discussed:

[00:00-03:45] Introduction

• Overview of Tier 11's business model
• Introduction to Ralph Burns (CEO) and Ryan Hodges (COO)
• Discussion of their podcast "Perpetual Traffic" with 12M+ downloads

[03:46-09:30] Growth Stages & Breaking Points

• Every time you 2-3x your size, everything breaks
• First milestone: $100K/month revenue
• Second milestone: $300K/month revenue
• The importance of finding complementary talent

[09:31-15:45] Acquisition Strategy

• Using acquisitions to gain talent
• Converting contractors to full-time employees
• Building strategic partnerships within the industry
• Importance of relationships with competitors

[15:46-24:15] Operational Transformation

• Reducing headcount from 70 to 40 while maintaining output
• Implementing standardized systems and processes
• Focus on the 80% fundamentals of business operations
• Discussion of operational efficiency improvements

[24:16-32:30] Client-Centric Model

• Transition from accepting any client to selective partnerships
• Doubling revenue per customer
• Improving client retention dramatically
• Creating strategic partnerships for referrals

[32:31-39:45] Profitability & Team Optimization

• Increase in gross margins from 50-55% to 65%
• 15-20% productivity increase through aligned purpose
• Discussion of team motivation and culture
• Implementation of standardized processes

[39:46-44:15] Vision & Leadership

• Importance of clear vision communication
• How to handle team members who don't align
• Creating a legendary brand in the agency space
• Building operational excellence

[44:16-50:02] Key Insights & Closing

• Finding complementary leadership
• The importance of saying no to wrong-fit revenue
• Focus on metrics that matter to clients
• Discussion of ideal client profile

Notable Achievements:

• Doubled revenue per customer
• Increased gross margins by ~10%
• Improved team productivity by 15-20%
• Successfully transitioned from 70 to 40 team members while increasing efficiency

Key Business Insights:

1. Focus on running the business properly (80%) versus just delivering services (20%)
2. Importance of clear vision and purpose alignment
3. Value of complementary leadership skills
4. Need for operational excellence and standardization

Actionable Takeaways:

1. Systematize vision communication
2. Focus on operational excellence
3. Create strategic partnerships
4. Implement proper management systems
5. Align team with company vision

Resources Mentioned:

• The "Hodge Wheel" - Vision, Journey, Culture, Results framework
• Rocket Fuel by Gino Wickman
• Client Experience Engine methodology

Perfect For: Agency owners generating $1M-$5M+ in revenue who want to transition from chaos to operational excellence while increasing profitability and reducing personal involvement.

Want to transform your agency from a resource-heavy operation to a streamlined, profitable machine? This episode provides the blueprint for making that transition while actually increasing client satisfaction and results.

Ready to become a true Hands-Off CEO?

Grab your copy of "The Hands-Off CEO" at handsoffceo.com/book and unlock the proven framework that's helped countless agency owners triple their fees while working less. Get the audiobook, PDF version, and valuable bonus materials - all for just $4.99.

Don't wait to start your journey to freedom and scalable growth!

Are you playing it too safe with your agency's growth? In this thought-provoking episode, Mandi Ellefson challenges agency owners to think bigger about transformation. Drawing from her experience helping agencies scale, Mandi explains why staying "safe" might be the riskiest strategy in today's market. This episode explores:

• Fear of Business Transformation [00:00:00] Learn why many successful agency owners resist making changes that could unlock massive growth, fearing they'll "blow up" what's already working.
• Market Pressures and Competition [00:01:48] Understand the current challenges facing agencies, including AI disruption, increasing competition, inflation, and changing buying patterns.
• Case Study: Ralph Burns' Success [00:02:42] Discover how one agency doubled their revenue per client and achieved a $50 million valuation by making bold strategic changes.
• The Growth Journey Reality [00:04:39] Why getting from $1M to $3M is one of the hardest transitions, and why aiming for $5M or $10M might actually be easier.
• Playing to Win vs. Not to Lose [00:06:28] Explore the mindset shift needed to achieve exponential growth, illustrated by a client who increased minimum rates from $30,000 to $100,000.
• Creating a Self-Running Agency [00:08:43] Learn about the upcoming "90 Days to a Self-Running Agency" program and what it takes to build a functional, profitable, and enjoyable business.

Don't miss this opportunity to understand why playing it safe might be holding your agency back from its true potential. If you're ready to transform your agency, this episode provides the inspiration and strategic insight you need.

This episode is essential listening for agency owners who want to break free from the "safe" path and create transformational growth in 2024-2025.

Mandi invites you to reach out for more information on scaling your business, and mentions her new book 'The Hands-Off CEO'. With insights to help you rethink your approach to growth in 2024-2025, this episode is essential for ambitious owners, founders and CEOs of 8-figure agencies.

Resources: 

• The Hands-Off CEO Book [00:07:52] Available HERE
• Scale Your Agency Assessment [00:09:31] Book a Scalable Growth Session HERE
• NEW 90 Days to a Self-Running Agency Program Podcast [00:08:43]

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Executive Briefing

Are agency owners feeling trapped by their own success? In this insightful episode, Mandi Ellefson explores how CEOs can scale their consulting agencies to new heights. Drawing from her experience with thousands of agency CEOs, Mandi breaks down critical elements for exponential growth. This episode is packed with actionable insights, including:

• Setting Ambitious Growth Goals [00:01:46]
  Discover why basing future success on past performance limits potential, and how to set more expansive targets.
• Investing Ahead of Growth [00:04:23]
  Learn why investing in your company's growth before you have the cash flow is crucial for rapid scaling.
• Repositioning Your Offer for Higher Fees [00:06:58]
  Uncover strategies for creating irresistible offers that allow you to dramatically increase your fees, illustrated by Mark's success story of increasing fees by 600%.
• Breaking the Cycle of Unprofitable Growth [00:09:39]
  Explore why simply bringing on more clients with your current model won't solve underlying profitability issues.
• Making Strategic Investments [00:11:33]
  Understand the importance of making calculated investments in your business, even when it feels uncomfortable.
• Learning from Mistakes [00:13:24]
  Hear Mandi's personal anecdote about the costly mistake of trying to solve the wrong problems instead of seeking support.

Don't miss this opportunity to learn how you can transform your agency into a scalable, profitable powerhouse. If you're ready to see exponential growth, this episode is your roadmap to success.

Mandi invites you to reach out for more information on scaling your business [00:15:31], and mentions her new book 'The Hands-Off CEO' [00:15:54]. With insights to help you rethink your approach to growth in 2024-2025, this episode is essential for ambitious agency owners.

Resources: 

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Executive Briefing

Are you a 7-figure agency owner feeling trapped by your own success? In this eye-opening episode, Mandi Ellefson reveals how top CEOs are scaling to $10 million and beyond by stepping away from day-to-day operations.

Drawing from her extensive experience consulting with over 1000 agency CEOs, Mandi breaks down the critical stages of scaling and the mindset shifts necessary for exponential growth. This episode is packed with actionable insights, including:

• The Three Stages of Scaling from $1M to $10M [00:55]

Discover the unique challenges at each growth stage, from the chaotic $1M-$3M phase to the "rinse and repeat" $5M-$10M level.

• Developing Leaders Who Drive Growth [05:28]

Learn why investing in your team's growth is crucial for sustainable scaling and how to avoid the pitfalls of outgrowing your leadership.

• Creating the Right Offers for Scale [09:40]

Uncover strategies for designing premium offerings that attract ideal clients willing to pay significantly more for your expertise.

• Building Systems for Consistent Delivery [11:11]

Explore how to create scalable processes that deliver bold outcomes without your constant involvement, allowing your business to grow beyond you.

• Real-World Success Stories [14:41]

Hear inspiring examples of CEOs who have implemented these strategies, including one who tripled their pricing and company size after attending a Hands-Off CEO retreat.

Don't miss this opportunity to learn how you can transform your agency into a scalable, profitable powerhouse that runs and grows without you. If you're ready to join the top 1% of consulting agencies seeing exponential growth, this episode is your roadmap to success.

Mandi also shares details about the upcoming Hands-Off CEO Retreat [16:14], where you can experience these transformational strategies firsthand. With limited spots available, act fast to secure your place among elite agency owners who are scaling to 8-figures and beyond.

Resources: 

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Executive Briefing

If you're like most entrepreneurs, you already know that the journey to success is a long and arduous one. You've poured in your sweat, tears, and countless sleepless nights to get where you are today. But despite all your hard work and dedication, there comes a time when you hit a roadblock and find yourself unable to grow any further. 

You become the bottleneck of your own growth. 

This is exactly what Ricardo Perez, CEO of OneRhythm, encountered while running his agency. But he didn't let this setback defeat him. Instead, he took charge of the situation and found a way to scale his consulting agency in a better way. 

And now, he's sharing his insights to overcome the same obstacle and achieve the success you know is possible. 

The conversation touched on insightful topics like: 

• Importance of having an Irresistible Offer [03:11]

Learn why having an irresistible offer is critical to success in today's highly competitive business environment to attract world-class clients and top talent. How Ricardo’s team is able to deliver exceptional million dollar services that are 90% repeatable and process driven. Proof that it’s possible!

• Refining the companies you work with to command higher fees [08:02]

Discover how refining the companies you work with impacts the overall size of engagement and the fees you can command for your services.

• Talk about results [11:49]

Understand the difference it makes when you focus on talking about results and projections with new clients to generate more engagement instead of talking about what they will spend on your services.

• Essential factors for scaling a consulting agency [24:27]

Explore the critical factors for scaling your consulting agency with maximum profitability.

• Don’t be a bottleneck, delegate [32:30]

Hear out Ricardo Perez's spot-on advice, that all consulting agency CEOs should learn from and take into consideration for scaling their business as a true Hands-Off CEO. 

Key Quotes:

• Focus on Results: “We focus on what they're going to get, not what they're going to spend. And I think that's a huge part of how when you look at it that way, and you focus on those results; then it's less about nickel and diming on what your professional fees are.” [12:08]

• Letting Go: “To the extent that you are the bottleneck and to the extent that that is something that you feel can't change, then you need to rethink that. You really think that that thing is that there's no way that anyone else can do what I do. You can't; you have to let go of that.” [32:42]

Resources: 

Ricardo Perez on LinkedIn

OneRhythm

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Executive Briefing

Two and a half years tend to be the sweet spot where consulting agencies come knocking on Hands-Off CEO’s door. Usually, those two and a half years are the point when CEOs can feel like they are stuck in a never-ending cycle of hard work and stress that is preventing their growth.

But there's a better way to scale your company while avoiding those stagnant periods and growth plateaus.

Don't fall into the trap of getting ready to get ready. In this solo episode, I'm here to guide you through the steps of preventing and overcoming any obstacles preventing your growth. Let's break free from the cycle of stagnant growth and take back control of your business growth.

Some key ideas in this episode are:

• What is holding you back as a CEO? [01:04]

Learn what is the number 1 thing that's actually keeping you, the CEO, stuck in the day-to-day, even when you have hired a trusted team to support you.

• What are the 2 reasons for a Growth Plateau? [03:54]

Understand the two main reasons for growth plateaus and how they can lead to stress, lower profits, and an unhealthy work-life balance.

• Maximize your growth to make 2024 your best year ever [11:08]

Discover what you need to focus on next to make 2024 your best year ever and how having an inspiring vision is critical to scaling your company and encouraging you and others to take massive action. 

Key Quotes:

• The Right Mindset: “Whenever you're trying to create a new change, you must have the right mindset, system, and approach. If you focus on the mindset, you could get further because your mindset will. When you are fully stepping into your vision, you're saying: ‘I'm willing to do whatever it takes. This is my vision. I'm standing in my future right now.’ Then what happens is that you are open to a whole new set of actions that you were not able to see and have access to before.” [06:07]

• Getting Ready to Get Ready: “One of the things that I see a lot of times, and our teams see this with our clients, is there's a lot of getting ready to get ready. And this is definitely something that once our clients are in our community and ecosystem, they are transforming just simply by really taking a stand for the growth that they're creating and taking actions aligned with that.” [04:52]

Resources: 

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Executive Briefing

When managing a consulting agency, there's always a constant feeling that our current methods for measuring profitability just aren't giving us the whole story.

Marcel Petitpas, CEO and Co-Founder of Parakeeto, experienced this very issue while running his own agency. Luckily, he didn't just sit back and accept the status quo. Instead, he set out to find a better way. 

Get ready to discover what he did to streamline their operations and reporting systems to improve profitability. He found a better way to help agencies double their profits and simplify their operations by providing the financial insights that Ops leaders need to make informed decisions. 

The conversation touched on insightful topics like: 

• Power of tracking operations data [09:15]

Learn why tracking data from your operations is much simpler and more valuable to make decisions on for capacity, hiring, and profitability than the financial data you get from your accountant.

• What metrics do you need? [16:54]

Discover which metrics you need to track to get a clear picture of your performance if you use value-based pricing or T&M.

• A deeper understanding of your P&L and operational metrics [21:02]

Exploring the 3 pieces of operational metrics to track gives you many more insights than just your P&L. 

• Automated utilization and capacity management [24:56]

Find out the issues agencies and consultancies encounter when tracking capacity and utilization. And you can implement a much simpler way to track utilization immediately.
Streamline your business with a tool for tracking the operational metrics [30:48]

Learn how to maximize the efficiency of your business by implementing a powerful tool for tracking your operational metrics. Streamline your processes and easily make data-driven decisions, leaving no room for guesswork or wasted effort. 

Key Quotes:

• Revenue and Profits: “You want to keep at least 50% of every dollar that you are responsible for earning from a client. If you get to keep less than 50%, it's going to be really hard to be profitable because usually you're going to spend another 30 on overhead.” [35:45]

• Average Cost Per Hour: “The way to lower your average cost per hour is to standardize what you do, create better documentation, create better processes so that you can lower the level of judgment that's required, which generally lowers the level of experience that's required, which generally allows you to access lower cost labor to do more of the work on a client engagement. ” [37:03]

Resources: 

Marcel Petitpas on LinkedIn | Instagram | Facebook

Parakeeto - Agency Profitability Toolkit

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Executive Briefing

Have you ever thought about looking at agencies from a new perspective? Get ready to discover the concept of the "Alt Agencies" - where specialization and specific outcomes for niche clients are favored over the traditional agency model. Our Guest Greg Hickman shares his journey on how to deliver a repeatable sales and onboarding process. 

The conversation touched insightful topics like: 

• Power of productizing services [04:56]

Understanding the concept of "productizing" services, which involves packaging a repeatable service with fixed problem-solving, turnaround time, and price. Discover the benefits of standardizing packages and systemizing processes to scale a business effectively.

• Importance of specializing and finding a niche [06:50]

Find out the challenges and benefits of specializing in a specific area, what realization can working nights and weekends bring you and ultimately understanding how to divorce your time from your income.

• Role of webinar funnels in scaling a business [08:26]

How focusing on webinar funnels and becoming experts in that area changed the game for Greg’s agency and what are some common plateaus experienced by many service providers.

• Evolving agency model and additional revenue streams [15:58]

Exploring the term of “Alt Agency” and discussing the changing landscape of agency models, such as tech-enabled, strategy-focused, or platform discipline-focused agencies. 

Key Quotes:

• Unique Skills: “If you can position yourself as the engine builder, you can charge a premium. You're more valued because you know how to do this unique thing. And that is kind of how I see how we were able to make the shift to only working on the stuff that we enjoyed. And that was, I think, the true value to the client.” [12:53]

• Understanding Nuances:: ”Nobody understands that a person who's at 3K a month and a million a year could actually be experiencing the exact same thing and need almost the exact same solution. But there's still these little nuanced differences. It's fascinating to me. We're a unique breed.”  [34:15]

Greg Hickman on LinkedIn | Facebook | Twitter | YouTube 

Alt Agency - Free Training

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO – Executive Briefing