Creative Agency Success Show

Quote “You know that it’s going to happen, but it’s not possible to predict exactly when, so the key is to prepare for it.” - Jody Grunden   The finer details of this episode  What is a recession?  What happens during a recession  Tips to prepare your business for a recession  Why you should start planning now for the next recession  The biggest tool you have against a recession  The advantages of...

Quote “Forecasting gives us the opportunity to reroute, so we can stay on track with the goal.” - Adam Hale     The finer details of this episode  The difference between budgeting, forecasting, and resourcing How Summit CPA began to implement forecasting with our clients How far ahead you should look when forecasting How forecasting can help you reach your long-term goals How to create a forecast...

“It’s important that the amount you have in your pipeline varies based on what your future outlook looks like.” - Jamie Nau   The finer details of this episode   How often you should look at pipeline metrics The different parts of the pipeline that can be measured and controlled The three inputs that should be evaluated regularly How to calculate Recognized Revenue and why that’s important Why loo...

“A service-based company should be making 15% net income, 10% is the break-even.” - Jody Grunden The finer details of this episode Why 10% is the new break-even How profit margins get smaller as your company gets bigger The sections of an income statement and why they are important How to calculate your actual gross profit and determine what it should be How much to invest in your employees outsid...

“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. Epis...

“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 coll...

“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...

“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...

“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 b...