VIDEO: 55:25 mins
AUTHOR: Robert Craven and Paul Barnes
In this GYDA Talks, Robert talks to Paul Barnes. Paul is Managing Director of MAP, who specialise in helping digital creative agencies to climb the maturity curve and grow more profitably. They do this by giving the agencies total visibility and understanding of their finances, so they can make better and more timely decisions.
An agency’s growth often outpaces the effectiveness of their finance function; while a well optimised back office can be an essential component in ensuring you are growing in the right way. The Agency Maturity Curve is a way in which digital agencies assess the strength of their operating model, by pegging the strengths and weaknesses of their finance function against a set of disciplines with clearly defined outcomes.
The more established the business, the further along the Agency Maturity Curve we would expect them to be, but this may not actually be the reality. Identifying areas for development shows where improvements can have the greatest impact, and how long it might take to get there.
Whether you are looking to scale, sell or just run a more operational slick agency, you will be held back if the finances don’t stand up to what the business needs. Ultimately you will not have access to the data you need to make informed decisions and you will leak profit.
Robert an Paul discuss:
Asking the right questions
Poor financial education is ubiquitous in many agency boards
You need to link strategy to the numbers and tell the full story