Did you know that working closely with your accountant can really help you grow your business?
If you are scaling up, or making plans to sell your agency, but are still using spreadsheets to run it, then now is the time to consider moving away.
Foreign exchange rates are becoming increasingly volatile in a world where barriers to international markets are reducing. Has your agency business suffered as a result of factors outside your control? Managing foreign exchange risk is emerging as a critical business issue.
It goes without saying (but I’ll say it anyway) that a basic principle of doing good business is being profitable. At a very simplistic level for an agency this comes down to ensuring that projects are priced in a way that delivers an appropriate profit margin and then delivered on budget.
If you’ve not set a budget for your agency before, or if you have but you want to check that it’s realistic and is actually going to help your agency successfully grow, then this post is aimed at you. Building a budget is like building a three-dimensional Sudoku puzzle, there are so many moving parts that all need to fit together to make sense. In this blog, we have focused on building a profit and loss budget.