Why Cash Matters as Much as Profit in Your Agency
The Real Deal about Profit and Cash in Your Agency
Cash Flow: The Oxygen for Your Agency
Keeping Track: KPIs to the Rescue
Practical Tips for Balancing Cash and Profit:
- Know Your Numbers: Keep your cash flow statement up-to-date. It’s like knowing the weather forecast before planning a picnic.
- Have a Safety Net: A cash buffer can save you from sleepless nights when revenue dips or payments are delayed.
- Be Real About Your Money: Love dreaming big, but when it comes to revenue, be as realistic as it gets. Adjust your plans based on what the numbers tell you.
- Clear Terms with Clients: Reducing non-payment risks starts with clear payment terms. And yes, automated reminders are your friends.
- Stick to Your Budget: Every dollar counts. Plan your expenses and hold onto that budget like it’s your lifeline.