E100: CFO Best Practices to Increase Your Agency Profitability Fast

CFO Best Practices to Increase Your Agency Profitability Fast

Agency owners understand that making a sale is easy but growing your profitability is insanely difficult. The numbers game will either make or break your agency and so there has to be a conscious effort in place to understand the financial aspect of your business. You may find it difficult if you are not into the numbers thing, but it will be worth your while to dig deeper into it. 

In this week’s Operation Agency Freedom podcast episode, Chris Martinez talks with Billy Gene Is Marketing’s CFO Daniel Flores. Daniel shares the tasks he focused on when he started working with Billy Gene. He also discussed the KPIs they measure specifically to determine profitability, tracking and measuring churn rates, and other red flags they monitor to ensure they are financially healthy. 

If you are determined to grow your agency’s profitability, no matter how unsexy the financial stuff is, this is an episode you’ll learn a lot from. Tune in to this episode today.

Discussion Points:

0:00 Introduction 
3:46  Why Daniel decided to work for Billy Gene Is Marketing 
5:51 What made Billy Gene decide he needed a CFO 
7:29 Net income of Billy Gene Is Marketing when Daniel came in first in 2017 
8:06 Tasks that Daniel focused on when he first started
10:38 KPIs that are measured specifically 
12:55 Does Billy look at the numbers every single day 
14:25 Things that go in to your Cost of Goods sold 
15:40 How Daniel handles scenarios where X amount is needed to fund an idea
18:26 Churn – unacceptable percentage and how to track and measure it
19:46 Other KPIs measured that have a positive impact on churn 
21:12 Red flags being monitored 
22:46 Where Billy Gene Is Marketing headed towards

Resources: 

Join our Newsletter!
f

Share:

Download Our Latest eBook

How to Hire Rockstar Employees...For Half the Price

More Posts

Attention Digital Agency Owners Who Are Looking to Scale!

Want to have us hand you a “dream team” of designers and developers so you can take on more projects and scale profitably?

If you’re tired of having “people problems”, fulfillment bottlenecks, and you want to make what you’re worth…

Schedule a quick chat and discover how we can help you grow your digital agency.