We often pour tons of resources into acquiring new clients. I like to call it the “New Client Syndrome” — that dopamine rush we get from landing someone new. It’s a thrill, no doubt, but it blinds us to a goldmine: our existing clients. Reality Check Experience has shown that existing clients…

Running a marketing agency is an adventurous journey filled with exhilarating peaks and daunting valleys. One of your essential tools for navigating this journey is your sales pipeline, as it offers vital insights into the health of your business. While many metrics can monitor the health of your sales pipeline…

I’m sharing a study from ANA, the 4A’s, and AP on the ‘Cost of Pitching.’ Often, we only think about the financial burden agencies shoulder during a pitch, but this study highlights the costs involved for both agencies and clients. Here’s a link for you to download and review at…

Part of being successful in business is knowing when to ask for help. There are plenty of places to get insight and advice if you know where to look. My podcast, Creative Friction, and my newsletter are a great starting point. However, since they’re free, they may not always cater…

I’ve wrestled with this question, and I’ve engaged in open discussions with other agency owners about it. The real issue lies in how to allocate your agency’s limited time and resources to achieve its goals. So, what priority should we assign to agency awards? We all proudly display our awards…

Originally, I wanted to title this article “Ten Cash Flow Commandments” to pay homage to my favorite MC: Biggie Smalls. His song “Ten Crack Commandments” breaks down what a drug dealer must do to stay successful and keep making money. Fun fact: Lin-Manuel Miranda actually did a remix of this…

Keeping an orderly cash flow is essential to running a sustainable marketing agency. Without sufficient cash flow, it is nearly impossible to keep your business afloat. In fact, I would argue that the greatest financial challenge you face is managing an uneven cash flow. Recently, we reviewed income statements to…

As an agency leader, thinking creatively about new ways to diversify your revenue streams beyond your core services is vital. Through diversifying revenue streams, your agency can reduce its dependence on any single source of revenue and better weather economic downturns. …

Let’s talk about balance sheets. Most agencies leaders rarely reference them; but despite this, they are one of the most important documents to assess the financial health of your business. A balance sheet is a snapshot of what your business owns (assets), what it owes (liabilities), and the difference between…