Financial Management of a Marketing Firm - David C Baker
Financial Management of a Marketing Firm
How much should I pay myself as an owner? How much profit should my agency be making? What does good profit look like for my business? This week we reviewed David C Baker’s Financial Management of a Marketing Firm to shed some light on the stuff no one ever teaches agency owners.
Transcription
0:00
This week 62nd book review is the Financial Management of a Marketing Firm by David C Baker. It's a hundred pounds or a hundred dollars for an ebook. It's by far the best $100 you'll ever spend on your agency.
0:13
It tells you all the stuff that you don't learn when you're starting and growing your agency. It tells you all the stuff that we don't learn when we've been working at other agencies.
0:23
How much profit should we be making? What does good profit look like? How much money should we have in the bank? When should we spend our money?
0:27
How much should we pay ourselves? How should we pay our team? The ratios between salaries and the rest of the costs in our business, all that kind of stuff.
0:35
It is by far the biggest ROI or the greatest ROI I think you can do with a hundred dollars. My advice, just go and buy it, follow it like a Bible for a year.
0:46
And if your agency isn't in a better place financially, by the end of the year, I leave my hat.
Financial Management of a Marketing Firm by David C Baker, 10 out of 10.
