Do You Have a Handle on Your Marketing Agency Financials?

<p>Do you use your bank balance to gauge how well your agency is doing? Do you know and understand your key marketing agency financials? Or are you making business decisions blindly? A solid handle on financials and forecasting is one of the best things you can do not only to see where your agency is at but also to make decisions for the future.</p> <p>In today's episode, we'll cover:</p> <ul> <li>Does your agency make proactive decisions?</li> <li>5 financial benchmarks every agency should maintain.</li> <li>How to use benchmarks to plan for the future.</li> </ul> <p>[smart_track_player url="https://traffic.libsyn.com/secure/jasonswenk/Do_You_Know_Your_Key_Marketing_Agency_Financials_.mp3" ]</p> <p>Today I sat down for an informative discussion with two men who really have a handle on agency finances. Adam Stoker is the president and CEO of <a href="https://www.relicagency.com" target= "_blank" rel="noopener">Relic</a> and EKR. Nate Jenson is partner at an outsourced CFO agency and the founder of <a href= "https://agencydad.money/" target="_blank" rel="noopener">Agency Dad.</a> Agency Dad is an accounting solution focused on helping marketing agencies make better decisions based on their financials.  They're here to talk about the key numbers your agency should be looking at and how you can use this data to help your agency grow.</p> <h2>Does Your Agency Make Proactive Decisions?</h2> <p>When Nate started working with Adam, his agency was struggling. He had a revolving door of bookkeepers who could barely keep the books straight, let alone help him <a href= "https://jasonswenk.com/agency-plan-for-success/">plan for the future</a>. Nate says one of the biggest flaws agency owners have is making reactive decisions instead of being proactive. He says when you understand finances and what you are actually looking at, you can make better decisions. You have to establish benchmarks. This way you know what you should be spending, where you are actually spending, and where you have room to make cuts.</p> <p>In the same