By Vincent G. Dong, CPA, CA
When you decide to sell your agency, you can proceed immediately or take the time to prepare. Because quick sales usually bring lower prices, planning ahead will work to your advantage. It typically takes one to two years to prepare a business for sale. This allows time to prepare the details and address any issues.
Setting prices according to the value you are providing to your clients can boost your profit margin and improve the quality of your agency’s work.
Congratulations! You’ve built your agency from scratch and grew it into a business to be proud of. Now you’re getting ready to sell it. Of course, you’ll want to ask the highest price possible.
Is your agency scalable? Here are 3 things you can do to minimize increased operating costs while successfully growing your business.
The advertising industry is one of the biggest drivers of the growing freelance economy. Attracting the best creative, advertising and marketing professionals will boost the quality of your company’s work product and your brand. Here’s one strategy to attract the highest quality freelance workers no matter where your company is located.
When it comes to estimating, it comes down to one word: accuracy. Estimate too low and you’re committed to a situation that is unprofitable at best; too high and you probably won’t be awarded the job. Employing best practices will result in the best possible outcome.
Agencies are great at managing projects from initiation to completion. Why not apply the same methodology to onboarding employees?
When you understand your labor model, you can answer the following questions.
The Wayfair decision and its effect on advertising agencies
South Dakota v. Wayfair was a watershed decision in state sales taxation. Traditionally, a physical presence, such as a brick and mortar store, was required for a state to impose tax on sales of goods and services. The Wayfair decision shook things up by overturning previous rulings and upholding South Dakota’s law requiring...