Author name: cfoforgrowth

take care of your finances - cfo for growth

Take Control of Your Finances: Actionable Strategies for Agency Owners 

As an agency owner, you have the power to transform your business’s financial performance and secure a prosperous future. However, to achieve this, you must shift your mindset and recognize that organized and well-structured financials are not merely a “nice to have” but a “need to have.”   By treating your agency’s finances with the importance […]

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bookkeeping firm

Why Partner with a Specialized Bookkeeping Firm to Grow Your Agency

As an agency owner, your passion lies in delivering exceptional services to your clients, not in managing financial intricacies. By partnering with a bookkeeping firm that specializes in the agency industry, you can unlock a world of benefits that will give you financial clarity and more time to run your business.    In this article, we’ll

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phone calculator with graphs in the background

The Essential Role of Revenue Recognition in Measuring Agency Profitability 

Agency success doesn’t just hinge on delivering outstanding projects but also on how effectively an agency can monitor and report true profitability.  To calculate agency profitability, revenue recognition principles must be applied and used in monthly and annual management reporting. This rule ensures that every milestone and completed work is accurately reflected in your books.   This

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mobile phone with finance rates on it

How To Boost Your Agency’s Bottom Line by Improving Recovery Rate  

Among many KPIs at your disposal, there’s a vital metric that often goes unnoticed yet is crucial for your agency’s financial health: the recovery rate.  Recovery rate provides a clear lens through which you can view how effectively your team’s time and effort are being translated into revenue-generating activities. A strong recovery rate means you’re

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computer and hand from above

How to Improve Utilisation Rates: A Practical Guide for Agency Owners 

Welcome back to the second instalment in our series on mastering utilisation rates within your agency. In our previous article, we uncovered why utilisation rates are the heartbeat of your agency’s financial and operational health. Now, let’s roll up our sleeves and dive into the practical steps to improve utilisation rates, ensuring your agency thrives. 

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Overcoming Financial Challenges: A Blueprint for Thriving Marketing Agencies

Growing your marketing agency is an exhilarating journey, filled with new opportunities, clients, and revenue streams. However, just like any growth spurt, it can be accompanied by growing pains. In this article, we’ll delve into the financial challenges that growing marketing agencies in the UK commonly face and provide practical solutions to overcome them. From

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The Power of Outsourced FD for Growing Marketing Agencies 

As an agency owner, have you ever contemplated enlisting the services of an Outsourced FD (Financial Director) to manage your finances? If you haven’t, it’s time to consider the potential benefits and drawbacks. Outsourcing financial expertise can be a game-changer for your growing agency, but understanding the pros and cons is crucial to making an

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How To Master Your Finances and Fuel Your Agency’s Growth in 2024 Mastering  

As we open the calendar to a new year, it’s crucial for agency owners to focus on fortifying the financial health of their business. In the fast-paced and competitive world of marketing and creative services, having a solid financial foundation isn’t just beneficial – it’s essential. Start with a firm commitment to meticulous, up-to-date bookkeeping.

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Boosting Your Agency’s Financial Health with a Virtual FD 

If you’re running a marketing, digital or creative agency, you’re probably all about crafting campaigns and shaping brands, not crunching numbers. Yet, it’s no secret that financial savvy is crucial for agency growth. Enter the Virtual Finance Director (VFD): your behind-the-scenes support for everything from cash flow to profitability.  Why Partner with a Virtual FD,

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