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For creative agencies, cash flow is often unpredictable. One month, you’re swimming in cash; the next, you’re scrambling to pay your team. This “lumpy” cash flow is caused by the project-based nature of the work and the all-too-common issue of late payments. Here’s how you can smooth out the bumps and get better control over […]
Scope creep is a common challenge in creative agencies, often resulting in unplanned work without additional payment. For a digital agency owner managing tight deadlines, pricing concerns, and cash flow—this can be especially frustrating. Here are the types of scope creep we typically encounter and how we can set clearer boundaries to prevent it. Types […]
Many Digital Creative Agency owners worry about cash flow. But sometimes, what looks like a cash problem is really something else. Let’s break it down and see what might be going on with your business money. What’s a Working Capital Cycle? First, let’s look at how money moves through your business: 1. […]
When I talk to agencies about growth, one of the main topics we discuss is growing the revenue line and finding new clients. However, one key aspect to growing revenue profitably is often overlooked. That aspect is……….. Increasing your prices! About a third of the agencies I’ve spoken with this year didn’t increase their […]
I’m often asked what KPI’s you should be measuring in your business. There are two types of KPI’s and a good measurement system will use both types Lagging KPI’s These measure things that have happened already. Things like, Number of new customers signed up Average Project value Gross profit Margin Wage costs to Revenue Not […]
Cash & cashflow have become the main focus for agencies during 2020….and rightly so! We do still meet a lot of agency owners though who still have really manual processes and systems and that makes it really difficult to get a good handle on their current cash position and potential future cash flows. Those of […]
As more and more people are working away from the office, providing employees with mobile phones can be a wonderful, tax-free, benefit that you can offer. However, there are a number of pitfalls that you need to avoid. Here’s how to do it right! WHAT PHONE CAN I PROVIDE? HMRC’s definition of a mobile phone […]
Looking to reduce your carbon footprint, get fit or just avoid over-busy public transport?, then buying a bike through your Limited Company, might be the solution for you! The cycle to work scheme was introduced in 1999, to encourage employers to lend bikes to employees, with no tax implications, or to allow employees to buy […]
Can you afford to give your employees a pay rise? This is more than just a financial decision; it’s about valuing your team, fostering loyalty, and investing in your business’s future. Let’s dive into how you can approach this important decision. Assessing Your Financial Health Before considering a pay rise, it’s crucial to evaluate your […]