Financial literacy isn’t just for the accountants. It’s for every agency owner who wants to understand their business better and set it up for long-term success.

Take the topic of Revenue Recognition. This might sound like financial jargon, but in simple terms, it’s about recognising the revenue your agency earns, at the correct time.

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Why do I have no cash?

If an agency makes less than 15% net profit and has debtor days above 45 days, as many do, it can lead to a situation where they never see the cash. Whatever comes in, soon goes back out again.

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Creative individuals often face a dilemma between pursuing work they are passionate about and meeting client demands. To grow a sustainable and profitable agency, it is crucial to strike a balance.

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STANDOUT agencies take on difficult work. What sets difficult work apart is its inherent complexity and the fact that not many people have the skills, expertise, or sheer will, to handle it. As a result, clients are more than willing to pay a premium for it.

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While your technical or creative skills may have brought you into the agency world, your ability to effectively manage and lead people is what will truly sets you apart.

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STANDOUT agency leaders collaborate.
STANDSTILL agency leaders abdicate.

As an agency owner, you must strike the right balance between empowering your team and providing guidance. While employees crave autonomy, they rely on your experience and vision to steer the agency towards success.

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