Besides being an ineffective way for agencies to capture the tremendous value they create for their clients, the billable time system actually inhibits agencies from internal collaboration, professional development, and innovation. It creates a system where efficiency reigns at the expense of effectiveness. And if marketing isn’t effective, nothing else matters …

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The U.S. Army has a policy of doing After Action Reviews (AAR), which take place after every training event. The Army has a saying they never want to build the same bridge twice. Professional knowledge firms should adopt that same practice at the end of every major assignment or client relationship. This is a particularly useful practice if your firm has a Chief Value Officer or Value Council …

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Some of the biggest stars take the biggest risks when it comes to compensation by taking a percent of the box office. A good film makes more than a bad film, and the leading actors get paid accordingly …

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