Creative Agency Success Show

Creative Agency Success Show

By Summit Virtual CFO by AndersBusinessEntrepreneurshipEducationHow To
Download on the App Store

Creative Agency Success Show episodes

  • Production Metrics: Effective Rate

    “Measuring something and then consistently looking at it really helps you understand exactly how you’re doing.” - Jamie Nau 

    The finer details of this episode 

    • Production metrics 101.
    • How to calculate your utilization rate.
    • Standard rate vs. average bill rate.
    • Where do service businesses fail?
    • What is an effective rate?
    • How to improve your average bill rate.
    • A Summit CPA client success story.

    Episode resources

    • Summit CPA website
    • Production metrics guide
    • Email us with questions/comments- [email protected]
    29 min
  • Does your business have enough cash? Here’s what you need to know about cash flow management.

    “If the client knows you're going to reach out every time a payment is due and you do it, there’s no question that it will improve your receivables process.” - Audrey Giannini

    The finer details of this episode

    • How much cash should you have in the bank?
    • Understanding client concentration and why it’s important.
    • The way Summit CPA looks at short term cash flow.
    • Penalties and incentives for collecting account receivables.
    • Suggestions for securing lines of credit.
    • How to calculate tax payment and set aside reserves.

    Episode resources

    30 min
  • What is a Virtual CFO and when should you hire one?

    “Many times, it’s the last thing they want to deal with, but they know things could go so much further if they had the proper staff. The back of the napkin doesn’t work anymore.” - Michelle Lesifko

    The finer details of this episode

    • How Summit CPA helped coin the term “Virtual CFO”
    • Traditional bookkeeping and accounting vs. Summit CPA
    • Should you hire a full-time CFO?
    • How Summit CPA uses forecasting to hit milestones and goals
    • Michelle takes a closer look into cash flow
    • The three types of services Summit CPA offers
    • When should business owners start reaching out for help?

    Episode resources

    28 min
  • How we help creative agencies grow

    “We’ve put together processes and deliverables for our clients. They’ve seen a big impact on their businesses, so there’s tons of value.” - Adam Hale 

    The finer details of this episode 

    • Adam’s shares his Jerry Maguire moment when leaving the previous firm
    • What made Summit CPA stick with creative agencies as a customer base since
    • The two types of ways Summit CPA works with creative agencies
    • How one client made an extra $800K on a deal by asking a simple question
    • The power of attending industry conferences and events
    • How Summit CPA is changing the industry by helping other firms

    Episode resources 

    29 min
  • The Summit CPA Backstory

    “The strategy, speaking with the clients weekly and making sure they have enough cash in the bank to survive the next eight weeks or 12 months, that’s really the differentiator and why we’ve grown so fast.”

    - Jody Grunden

    The finer details of this episode 

    • How Jody and Adam started their careers in accounting
    • What was Jody's philosophy when starting Summit CPA Group
    • How to value clients and build long term relationships with them
    • Fix-priced billing vs. billing per hour: how to price the clients in the right way
    • The difference between VCFO and fractional CFO services
    • Summit CPA group’s focus on creative agencies

    Episode resources

     

    29 min

About Creative Agency Success Show

From the publisher's feed

Has your business scaled beyond $1 million in annual revenue? Do you employ a staff of 20 or more people? If so, you've likely experienced a whirlwind of highs and lows that come with growth. You're…