Feb 29, 2024
In today's episode of Operation Agency Freedom, we have a VERY special guest, Oyuki Gallegos, who is an expert in agency finances and happens to be my wife. With nearly 20 years of experience in bookkeeping and accounting, Oyuki shares invaluable insights on agency finances, best practices, and common mistakes made by agency owners.
The episode covers the concept of profitability per client, emphasizing the importance of tracking the cost of goods sold and ensuring a healthy margin on each client. Oyuki breaks down the essential financial reports that agencies should be doing on a regular basis, such as capacity and cash flow. She emphasizes the significance of maintaining a sound financial practice, even if it's uncomfortable, and stresses the need for agency owners to stay on top of their numbers and cash flow.
Join us as Oyuki shares her wisdom and practical tips to help understand and improve YOUR agency finances, ultimately leading to a more profitable and sustainable business. So, if you're ready to gain practical advice on managing your agency's finances, you don't want to miss this episode!
Discussion Points:
00:00 Intro.
06:19 Track profitability per client for business success.
10:10 Keep cost of goods to 30-35%.
13:03 Understanding business finances = profitability and sustainability.
16:32 Improving efficiency, raising prices, making tough decisions.
20:02 80% productivity value.
27:56 Outro.
Resources:
• Connect with DUDE on the following social channels
• Facebook / dudeagency
• Instagram / dudeagency.io
• Visit our YouTube channel / @dudeagency2093
• Check out our website and see how we can help you run a profitable agency https://bit.ly/3RPh4Zn