Are you an agency owner looking for ways to grow your business and increase your profits? If so, you'll want to check out The Agency Hour Podcast hosted by Mavericks Coach Johnny Flash, featuring Virtual CFO Chris Hervochon. In this episode, Chris shares his expertise on forecasting financial hurdles, increasing profit margins, outsourcing marketing, staying on top of accounting, and the importance of creating a cohesive growth strategy.
Some of the key learnings from the podcast include:
- Forecasting your financial hurdles: This is important because it helps you plan for the future and avoid any financial surprises. By having a clear understanding of your financial situation, you can make informed decisions about how to allocate resources and invest in your business.
- Increasing your profit margins: Profit margins are essential for any business, as they determine how much money you make on each sale. By increasing your profit margins, you can generate more revenue and reinvest that money into your business.
- Outsourcing your marketing: Marketing is a crucial component of any business, but it can be time-consuming and difficult to do on your own. By outsourcing your marketing, you can free up more time to focus on other areas of your business and ensure that your marketing efforts are effective.
- Keeping your finger on the pulse of your accounting: It's essential to have a clear understanding of your finances at all times. By keeping your finger on the pulse of your accounting, you can identify any issues or areas for improvement and make informed decisions about your business.
- Creating a cohesive strategy for growing your agency: Having a clear strategy is essential for any business, but it's especially important for agencies. By creating a cohesive strategy, you can ensure that all aspects of your business are aligned and working together towards a common goal. This can help you to achieve faster growth and greater success over time.
Topics Covered on The Agency Hour Podcast
- How Chris helps business owners
- Why you probably shouldn’t be doing your own marketing
- When should I get a bookkeeper?
- When am I ready for Fractional CFO services?
- Keeping your finger on the pulse when it comes to your accounting
- Forecasting your financial hurdles
- Where accounting ends and finance (CFO) begins
- The difference between a budget and a forecast
- The importance of creating a cohesive strategy for growing your agency
- What questions should we be asking ourselves?
- Is it worth paying for tax planning?
By implementing these key learnings, you can take your agency to the next level and achieve greater success. Whether you're just starting out or you've been in business for years, there's always room for growth and improvement. So take the time to listen to The Agency Hour Podcast with Chris Hervochon and start applying these strategies to your business.
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