Company: DIGITAAL
Industry: Social media full service digital agency
Size: Small, Small to Medium
Managing director: Jiri Kratochvil
(testimonial follows below the article)
We collaborated with Jiri on his digital advertising agency DIGITAAL in 2021, focusing on personal coaching and business mentoring. We delved into various aspects of the company, including finance, HR, branding, marketing, and product portfolio, with a surprisingly relevant focus on the businessman's health.
Our initial meetings were focused on DIGITAAL's fundamentals, examining finances, management style, and products and services. We provided Jiri with homework exercises to enhance his understanding of the company, colleagues, customers, products, and the market.
During the first eight meetings, we meticulously analyzed DIGITAAL's eight foundation stones:
Business Strategy: We evaluated DIGITAAL's current business landscape and devised a tailored strategy. This involved identifying growth opportunities, optimizing existing processes, and providing strategic direction for achieving DIGITAAL's business objectives.
Product Strategy: We collaborated with DIGITAAL's team to assess product offerings, identify areas for improvement, and develop a product strategy that aligns with Jiri's business goals. This included evaluating product life cycles, market positioning, and identifying opportunities for innovation.
Positioning and Pricing Strategy: We refined DIGITAAL's market positioning and pricing strategies. This involved conducting a thorough analysis of market dynamics, competitors, and consumer behaviors to optimize company's position in the market and determine effective pricing strategies.
Branding Strategy: We developed a branding strategy that aligns with DIGITAAL's business objectives and resonates with the target audience. This included defining brand identity, messaging, and implementing communication strategies to enhance brand visibility.
Sales Strategy: We enhanced DIGITAAL's sales strategy. This involved evaluating sales processes, identifying areas for improvement, and implementing strategies to increase sales effectiveness and revenue generation.
People and Human Resources Strategy: We assessed DIGITAAL's current human resources practices and collaborated with the internal team to develop a human resources strategy that fosters employee engagement, talent development, and ensures that all internal processes are aligned with your business goals.
Legal and Company Protection Strategy: While legal services are excluded, we provided guidance on developing a comprehensive legal and company protection strategy. This included risk assessment, compliance reviews, and recommendations for protective measures to safeguard DIGITAAL's interests.
Finance Strategy: We analyzed DIGITAAL's financial structure, evaluated budgeting processes, and collaborated with Jiri to develop a robust finance strategy. This included optimizing financial processes, managing cash flow, and enhancing financial decision-making on a scale of small to medium-sized agency.
Following a comprehensive analysis, we embarked on a mission to craft a detailed brand strategy for DIGITAAL, culminating in the creation of a comprehensive Brand Book. This invaluable document encapsulates the company's core values, mission, target consumer profile, and positioning within the industry. As a guiding beacon, the Brand Book serves as a benchmark for all internal and external communications, product development, and overall business strategy decisions.
The second phase of our engagement focused on refining DIGITAAL's product portfolio, ensuring that each offering aligns seamlessly with the company's brand identity and market positioning. This meticulous process involved defining product specifications, optimizing pricing strategies, and crafting compelling messaging that clearly communicates the unique value proposition of each product. The result was a revitalized product lineup that resonated deeply with customers, leading to a surge in sales driven by newfound product appreciation.
In parallel with these efforts, we delved into the realm of Human Resources, crafting a comprehensive strategy for onboarding and managing DIGITAAL's small but dynamic team of marketing specialists. This involved establishing standardized onboarding procedures, developing performance management frameworks, and fostering a culture of collaboration and innovation within the team. The implementation of these HR initiatives empowered DIGITAAL's marketing team to excel in their roles and contribute significantly to the company's growth trajectory.
Throughout this transformative journey, we have have enjoyed the process of aligning DIGITAAL's brand, products, and human capital with its overarching business objectives. Our personalized approach and deep industry expertise have been instrumental in driving DIGITAAL's success, positioning the company as a leader in its field.
Jiri's unwavering dedication as a manager and his visionary leadership have been instrumental in DIGITAAL's remarkable journey. His ability to inspire and motivate his team has fostered a culture of success and happiness, propelling the company to new heights. Under his astute guidance, DIGITAAL has transformed from a stable small company into a thriving enterprise, consistently exceeding expectations with its innovative and impactful solutions.
Jiri's managerial prowess is evident in his ability to effectively manage resources, optimize processes, and navigate market challenges with a calculated approach. He possesses a keen understanding of the strengths and weaknesses of his team, leveraging individual talents to achieve collective goals. His commitment to fostering a positive and supportive work environment has created a sense of camaraderie and belonging among DIGITAAL's employees, driving their motivation and productivity to new heights.
As a visionary leader, Jiri has demonstrated an uncanny ability to identify emerging trends and opportunities in the ever-evolving digital landscape. His strategic thinking has enabled DIGITAAL to stay ahead of the curve, consistently delivering cutting-edge solutions that address the evolving needs of its clients. His willingness to embrace change and adapt to new challenges has been a driving force behind the company's success.
Under Jiri's leadership, DIGITAAL has achieved remarkable growth, expanding its client base and solidifying its position as a market leader. His dedication to his team and his unwavering commitment to excellence have created a culture of innovation and success, propelling DIGITAAL towards even greater heights in the years to come.
Testimonial of Mr. Jiri Kratochvil, owner and managing director, DIGTAAL agency:
I had the privilege and opportunity to use Richard's know-how in about 120 hours of business as well as personal mentoring in 2021, and I am still drawing on his insights today. Throughout our collaboration we have focused on the following main pillars: finance / management / marketing & HR and health.
I would like to start by highlighting that Richard is not a theorist but a great practitioner. Everything he tells you, he has experienced and tried. And he is not afraid to share it whether it was a positive or negative experience. At the same time, with him everything is complemented by a very human and friendly approach.
In our initial meetings we discussed our company from the basics, finances, management style to products. Right from the start I was given homework exercises to help me clarify my thoughts, build products and position DIGITAAL in a certain position in the market. That in itself has been a great benefit because you subconsciously know you have to do it, but working with a mentor, you get to do it and something is created under your hands that you know from the start will move you personally and as a company.
The foundation that defined what we did for the next few years was creating and properly naming specific products we offer our customers. This led to a significant increase in revenue for our company, the same was true for a marketing definition of exactly who we are and what we do.
The definition of specific products for me was something I rate as a turning point. We were no longer offering "everything and nothing" but a specific marketing product that had niche and deep expertise. This subsequently made the business process much easier and simpler and set up the sales processes for the next 2-3 years.
What was very close to my heart and had a big effect on the whole company were the changes in HR. We managed to set up a number of small improvements and system changes that took hold in the company right away due to the quick implementation and, most importantly, it was perceived positively by colleagues. I still use a number of these to this day, such as the “8 weeks team reviews”, even though our team structure has changed considerably.
At the beginning of our cooperation we were a stable small company. Today, three years down the line, I can assess that we have grown threefold in turnover thanks to the processes and innovations we deployed in 2021, with the same number of employees or colleagues. Indeed, this was something that Richard as a mentor emphasised after a thorough analysis of our business. Namely, that as a team we had the capacity to grow roughly fivefold and as always he backed this up with accurate analysis.
I am also particularly proud of the creation of our "Brand Book," which captures the essence of our product, mission, and people. A strategic material that is timeless and defines who we really are. It is still valid after three years and we are in a phase right now where we are revisiting it for the change projects we are currently implementing.
We have also defined very clearly the performance KPI's and value-based remuneration system which are a key elements of our organization.
Working with Richard has been a transformative milestone for DIGITAAL, accelerating our growth and enabling us to achieve our objectives fast. While we might have reached these goals eventually, the rapid pace of our progress is a testament to the value of his expertise and the effectiveness of our collaborative approach within such a short time frame.
A summary of the key milestones we were able to implement during the advisory:
Business Strategy and Positioning
Branding and Brand Book
HR Processes
Remuneration system
Product pricing
Work-Time Efficiency and Effectiveness of the team and the company
Employee and Customer Survey
Product Definition and Positive Impact on our Sales
Sincerely
Jiri Kratochvil
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