While it's tempting to take on any client that comes your way, not all clients are good clients. Some may be too big, demanding too much of your time and resources, while others may be too small, providing insufficient income to justify the effort. In this article, we explore the concept of customer concentration and how to find the right balance in your agency's client portfolio for long-term success and profitability.
Read MoreVenturing beyond traditional revenue models, this article discusses the necessity and tactics for agencies to diversify revenue streams. With the landscape of digital marketing continuously evolving, discover how your agency can not only adapt but thrive by expanding its financial foundations.
Read MoreFind out how to make a price increase request to your clients in a smooth, professional manner. Learn tips and tricks for delivering the news with sensitivity and respect.
Read MoreBefore offering equity to your team, make sure you understand the implications. Read on for advice and information about employee partnerships, so you can make an informed decision.
Read MoreThe financial management of your business is a critical aspect of its success, and having a competent bookkeeper by your side is essential.
Read MoreI thought it would be helpful to explore agency pricing models in a new series of articles, starting with how to establish your day rate. There are different approaches to setting day rates, and we will explore three common methods: cost-plus pricing, market rate pricing, and value pricing.
Read MoreUnderstanding financial statements and their metrics is crucial in making informed decisions and achieving your financial goals. Having the answers to these four key financial questions provides valuable insights into your financial performance.
Read MoreA guide for agency leaders that presents simple steps to manage cash effectively in a creative businesses.
Read MoreDespite its usefulness, the cash flow statement is often overlooked. It is an invaluable asset that details sources of cash, how its being used, and the additional cash needs (or surplus cash your business has on hand).
Read MoreMost agencies leaders rarely reference balance sheets; but despite this, they are one of the most important documents to assess the financial health of your business.
Read MoreA guide for agency leaders to understand how to read an interpret an income statement.
Read MoreGiving your employees the freedom to work from anywhere has resulted in decreased utilization of your office space. This trend (or new normal) has made you consider something you haven't given much thought to in the past: your real estate and office strategy.
Read MoreA guide to help agency owners deal with slow paying clients.
Read MoreAre you putting too much of your agency's eggs in one basket? Find out how to identify and manage customer concentration risk, so you can save your business time, money, and heartache.
Read MoreDon't leave your business vulnerable from an unexpected shift. Discover the importance of a buyout agreement and how it can help protect you and your agency's future success.
Read MoreOpen-book management can be a great way to communicate with your team and make them feel like a part of the agency's growth and success. But on the flip side, opening the books will put you in a position where you feel vulnerable.
Read MoreImprove your agency operations and maximize profitability. Learn how to calculate employee utilization with this simple guide from The Meade Company.
Read MoreIn the agency world, the price of a good mistake should be seen as the price of innovation. To minimize the chances of bad mistakes you must have systems and processes in place as safeguards.
Read MoreToo few agency owners compare cash flow scenarios between selling and keeping their business. The comparison is eye opening and should factor into your succession planning.
Read MoreA comprehensive list of the pros and cons of an ESOP for marketing agency owners.
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