Strategic questions in your agency need financial information to inform their answers.
With the right finance reporting in place, you will make better decisions for your business.
You know finance is important, but where do you start with reporting?
This post is here to help with the lack of time and know-how and provide some basic methods of financial tracking to help get you started.
Most micro-agency owners find themselves at the mercy of their agencies at some point.
If that's you, find out how to reset that relationship & get back on top.
Goal inversion is what happens when your personal goals for your agency are no longer driving your business goals but rather the other way around.
Reversing that relationship is critical to your agency's success.
"Sort agency finances" is one of the tasks that often gets bumped down the list of things of to do.
Using our list of 6 Fundamentals won't make it more fun(!), but it will make it easier to focus on the things that matter.
Most micro-agency owners are not finance experts & likely never will be.
So in this post, Stacey breaks down 6 finance fundamentals that will help you keep that side of your agency under control.
Generating Time is a core component to successfully implementing the Time + Money = Growth formula.
In this post we lift the veil on exactly how that can be done.
If you hire people who you cannot turn into independent workers, this will be the result:
Instead of spending Time doing work, you will trade it for spending Time explaining to others how to do work!
The money in your micro-agency funds your lifestyle, provides direct investment in your growth & de-risks the decisions that you make.
But not all types of money are equal & it pays to know the difference.
Everyone knows that money is vital to running a successful micro-agency.
But understanding the role that each different type of money plays is critical to growing above & beyond that £250k turnover level.
Running a micro-agency is hard. And a big part of that comes down to the sorts of people we are.
That’s not to place blame on ourselves for the challenges we face however.
The challenges faced by micro-agencies are almost always universal.
The solutions however, are very much bespoke.
Having accurate, up-to-date financial information for your business is an essential element in building sustainable, profitable growth.
So if you do not fully understand the numbers in your business, bring in someone who does.
When you set up an agency, you have to accept that bookkeeping will be a part of your life.
Learn how to make it work hardest for you...
Breaking out of micro-agency (<£250k turnover) status is hard. But to do it means following a very simple formula:
TIME + MONEY = GROWTH
As an agency owner, you need the time to work on business growth.
And you also need the money to make those dreams a reality.