As the New Year arrives, agencies are under tremendous pressure. Like many businesses, they need to be ready to respond to changes the next decade will bring (expected or unexpected). Here are seven steps to position your agency to thrive in the new decade.
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.
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.