EP39: Maximising agency cash | Michelle Cook

Over the past six weeks I’ve been speaking to lots of agency leaders. Those one-on-one conversations have highlighted to me, just how many variables there are determining how agencies are able to weather this extraordinary storm.

Aside from agency size and structure, services, client sector focus, and the deeply personal experiences of managing pipeline, clients and teams whilst either squashed together with, or isolating without family, there is the issue of cash.

In almost every case it is the agency’s cash position going into this crisis that determines how able they will be to emerge. Cash provides time. Time to think, to adapt, to respond.

So as we move into this next phase, and negotiate anew with clients and prospects, how can we maximise our cash? How do we make sure we still get paid for our ideas and solutions?

In this episode, I talk to Independent Financial Director and cash flow specialist Michelle Cook. We learn how Michelle has harnessed Just-In-Time methodology used in manufacturing to revolutionise cash management and her top tips for invoicing, negotiating terms and avoiding payment delays.

This is another perfect example of how small changes in our processes can deliver marginal gains.

We’ll be giving away a copy of Michelle’s recommended read The Innovation Book: How to Manage Ideas and Execution for Outstanding Results by Max Mckweown. Listen in to find out how to win.

You can find Michelle on LinkedIn here. And if you want to discuss a new business challenge, you can book into my diary here.