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.
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!
What happens when a client doesn’t want to pay a deposit? You are there to help them succeed, but you also have a business to run. Here’s how to deal with client pushback on deposits—including what to say when they refuse to pay your usual deposit.