In this episode, Dominic Monkhouse delves into the challenges faced by CEOs of leading agencies with fewer than 30 employees. Drawing from his extensive experience, he shares his approach to building a high-performing team that can drive company growth.
Dominic emphasises the need to hire 'A players'—the top 10% of available talent for any given role—as these individuals are five to ten times more productive than average employees. He explains why creating a compelling vision is crucial for attracting such talent and how this vision can be a magnet for high achievers looking to make an impact.
He also discusses the art of delegation, advising CEOs to focus on their strengths and outsource tasks they don’t excel at or enjoy. This not only boosts productivity but also ensures leaders are spending their time on activities that truly move the needle.
Dominic doesn’t shy away from the tough conversations either. He highlights the importance of confronting underperformance head-on and setting clear expectations to prevent ambiguity. According to Dominic, 85% of employee engagement is driven by the relationship they have with their direct supervisor or manager, making regular check-ins and honest feedback essential for maintaining a motivated and productive workforce.
The episode also explores how agencies can successfully transition from a small team to a scalable operation. Dominic outlines the necessity of having a strategic plan that prioritises profitability and how regular reflection and adjustment are key to navigating growth challenges.
