FIR Podcast Network

For Immediate Release: Podcasts for Communicators

  • Home
  • Shows
  • Episodes
  • People
  • Blog
  • Subscribe
  • Sponsors
  • Contact Us
    • Join the FIR Podcast Network
  • Archives
You are here: Home / The Agency Leadership Podcast / ALP 38: P&L’s and other financial report basics for agency owners

ALP 38: P&L’s and other financial report basics for agency owners

July 25, 2019 by Chip Griffin Leave a Comment

https://traffic.libsyn.com/fir/alp-0038.mp3

Podcast: Play in new window | Download (Duration: 25:48 — 27.4MB) | Embed

Subscribe: Google Podcasts | Email | RSS | More

Chip and Gini discuss the basic financial reporting that every agency owner should have ready access to and systematically review on at least a monthly basis.

Knowing the numbers may not be the most exciting part of being an agency owner, but it is essential to understanding the business and positioning it for profitable growth.

In this episode, the hosts explain various financial terms and why specific reports may be useful. They also describe what to look for when reviewing these documents.

Resources

  • Spin Sucks Community
  • FreshBooks
  • QuickBooks
  • Bench

Quotes

  • Gini: “I will admit that when I started my business, and people were talking about P&Ls, I had no idea what they meant. I’ll admit that.”
  • Chip: “If you’re in business long enough, as an agency owner, you’re effectively getting an on the job MBA.”
  • Gini, on creatively getting around big companies’ payment policies: “Some of the pushback I get from other agency owners is well, I work with big companies such and such, and they won’t work that way. That’s baloney.”
  • Chip, on the importance of getting started using accounting tools: “…a lot of agencies do not have their houses in order with these reports. The important thing is to start getting at least the basics correct. And then you can bite off more and perfect it.”

[read the transcript]

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to email a link to a friend (Opens in new window)

Related Posts

  • CWC 46: Key financial metrics for agency owners (featuring Darryl Salerno)
  • ALP 30: Agency profit margin basics
  • ALP 62: The value of coaching for agency owners

About Chip Griffin

Chip Griffin is the Founder & CEO of the Small Agency Growth Alliance (SAGA) and a longtime agency owner and executive. He helps PR and marketing communications agencies build better businesses. Full bio

Filed Under: The Agency Leadership Podcast

Share Your Comment on The Agency Leadership Podcast

Share your comments or questions about this podcast, or suggestions for future podcasts, in the online FIR Podcast Community on Facebook.

You can also send us instant voicemail via SpeakPipe, right from the FIR website. Or, call the Comment Line at +1 415 895 2971 (North America) or Skype: fircomments. You can tweet us: @FIRpodcast. And you can email us at fircomments@gmail.com. If you wish, you can email your comments, questions and suggestions as MP3 file attachments (max. 3 minutes / 5Mb attachment, please!). We’ll be happy to see how we can include your audio contribution in a show.

Leave a Reply Cancel reply

Social connect:
Login Login with facebook
Login Login with twitter
Login Login with google

Your email address will not be published. Required fields are marked *

Connect with FIR

Support FIR

Become a Patron

Pledge as little as $1 per month to help support the existing stable of shows, make new shows possible, and be part of the growth of the FIR Podcast Network.

FIR Podcast Network Shows

FIR SPONSOR

The FIR Podcast Network is made possible by the generous support of our sponsors, of which we currently have none. Please reach out to us if you are interested in sponsoring FIR. Contact us at fircomments@gmail.com.

Looking for Older Episodes?

Visit the FIR Podcast Network Archives at forimmediaterelease.biz.

Join Our Facebook Community

Facebook Group Icon

FIR Podcast Network on Twitter

My Tweets

We Want Your Feedback

Email comments with or without audio attachments (5 MB/3 minute limit) to fircomments at gmail dot com.

North America Comment Line:
+1.415.895.2971

Europe Comment Line:
+44.20.3239.9082

Skype: fircomments

Promote FIR!

Let your readers and colleagues know about FIR by adding a logo to your blog or web page. Get it here!

FIR Podcast Network Logo

Help Spread the Word about FIR!

GaggleAMP: spread the word about FIR!

License

Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

FIR Podcast Network website © 2023 Shel Holtz and Neville Hobson | Community Guidelines | Privacy Policy

Website development by WP Fangirl. Album art and design by Effective Edge Communications.