In the next recession, some will survive while others will fail. Are you ready? See 5 steps you can take today to prepare your agency for the inevitable.
If you aren’t getting at least 20% net profit margins, your agency is “leaking” profits. Use my Agency Value Chain framework to help you systematically find those profit leaks so you can fix them.
Fight deadbeat clients by escalating your agency’s Accounts Receivable process. The squeaky wheel gets paid faster. See my agency A/R tips.
Should your agency accept credit cards? Probably, but you need to balance your profit margins against clients’ convenience. Let’s review options to help you decide, including how to handle fees.
Negotiate payment terms during the sales process instead of after. A client recently shared a success story from his agency—about how he negotiated a big prospect’s payment terms from Net 60 to Net 20. Let’s look at how he did it, since you can benefit, too!