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Business owners, do your numbers drive action or confusion?
Let's navigate the landscape of essential financial metrics every agency should monitor, guided by our digital marketing veteran guest, Jon Morris. With a rich background founding EngineBI and Fiscal Advocate, Jon brings a wealth of experience to the discussion.
Dive into his insights on how he steered his initial one-man startup to a 250-employee success story, utilizing a financial framework known as the BASE scorecard. He breaks down the core metrics of cash, profit, revenue, renewals, and gross margin.
Jon also discusses how agencies can use these metrics to make tangible improvements through strategies like reducing churn, optimizing sales & marketing spend, and focusing R&D.
Don't let your agency's financial data be a source of perplexity. Tune in to gain insights and empower your business with a clearer understanding of the crucial metrics that drive success.
Specifically, this episode highlights the following themes:
✅ Importance of financial planning, alignment, and execution in a business.
✅ The necessity of reducing churn and investing in sales and marketing.
✅ Success stories from using Jon's financial scoring system
Links from this episode:
✅ Know more about Jon Morris: https://www.linkedin.com/in/jonmorrisramsayinnovations
✅ Learn more about EngineBI: https://enginebi.net
✅ Learn more about Fiscal Advocate: https://fiscaladvocate.com
00:00 - Introduction
00:35 - About Jon Morris
00:28 - Podcast on financial strategies for business success
04:50 - Focused on planning, budgeting, investments, and alignment
08:13 - Core differentiator was leveraging robust, granular data
11:58 - Business planning and BASE framework
13:35 - Plan for a 30-60 day sales cycle efficiently
16:56 - Invest in sales and marketing for success
22:10 - Keep two times monthly expenses in cash
25:20 - Challenges of being a business owner
27:22 - New CPR score simplifies agency performance assessment
33:23 - Data organization crucial for accurate reporting timelines
34:51 - Connect with Jon Morris
36:12 - Takeaway
At Honest Podcasts, we strive to help value-driven companies launch successful podcasts because we have the drive to help others succeed.
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