Any growing business must maintain a firm grip on its finances. A digital marketing agency is no different. Chances are you approach your marketing activities strategically, but do you have a financial management system to match?
Growth comes with an increased administrative burden, a need to effectively manage your company’s cash flow and create a smart financial strategy.
If your digital marketing agency is on the up but you are puzzled by what your next steps should be, then this blog post is for you. Here’s a list of ten signs it’s time to consider hiring a financial controller:
1. You’re current priority is to generate new business – manage projects and deliver completed work to clients. There aren’t enough hours in the day and you are regularly behind on accounts related emails;
2. Suppliers are regularly chasing invoices, you have the capital to pay but don’t have an effective system to prioritise and get them paid;
3. Your agency is experiencing a period of growth, you are considering finance options available and need to present accurate applications that demonstrate you have well managed finances;
4. The current external accountant you are working with is not giving you enough hands on proactive advice tailored to your industry;
5. You want to make better strategic decisions relating to financial areas of your business;
6. You’re updating your business plan and creating new budgets – you need someone to present accurate forecasts and then analyse performance to ensure you meet the objectives which are part of your plan;
7. You value collaboration and are looking for an accountant who will get to know you, your business and become a part of your team;
8. You need financial assistance in all business areas, someone who is multifaceted and not just a number cruncher;
9. You currently have a good bookkeeper but need someone with stronger accountancy skills to manage them and make intelligent financial decisions;
10. You currently manage the financial admin yourself. You want to free up some time and use it to focus on other areas of your business such as sales and marketing.