4 Client Profitability Myths That Can Harm Your Own Business’ Profitability
Even if it’s hard to track, client profitability is vital information to have to optimize your own business performance. If you don’t know which clients add to your bottom line and which are dead weight, you’re potentially hemorrhaging dollars to service clients that aren’t worth the resources. Even worse, you’re missing out on major business […]
A Comprehensive Guide to In-House Accounting vs. Outsourced Finance Teams
You’ve been debating which type of accounting solution best suits your needs for some time now, and may have experienced your fair share of trial-and-error already. If so, you’re ahead of the curve. Most business owners launch with no plan for a finance solution. Or a haphazard combination of in-house resources with an outsourced bookkeeper. […]
New Year, New You? Here’s How Your Finance Team Should Set You Up for Success in the Coming Year
The end of the year for your business isn’t just about tying up loose ends and closing the books. It’s an opportunity to reflect on how your business performed, and what you can do to improve in the new year. But hang on—some of you don’t even know how to close the books properly. If […]
Forget Gross Revenue: Here Are The 6 KPIs Marketing Agencies Should Be Tracking — But Aren’t
Like most owners of marketing agencies, you’re the one who feels the most responsible for tracking your business’s performance and profitability. Maybe you even hired a bookkeeper and a tax accountant to tag team the job. But do they know what to look for? Rarely, as it turns out. You may assume that the professionals […]
Does Your Agency Have Lots of Cash But No Profit? You’re Likely Measuring Profitability Wrong.
See if this sounds familiar: your agency’s bank account is flush with cash, but your accountant tells you at the end of the year that you haven’t made any profits. Something doesn’t add up. “But we’ve had so much business this year!” you think. Not only that, but when you looked at your sales and […]