186. Financial Forecasting and Planning for Tomorrow, Today, With Ryan Watson

Summary

Ryan Watson, a partner at Upsourced Accounting, joins the discussion to highlight how financial forecasting before a crisis can actually help you avoid one. Understanding which metrics are important – and which ones are distracting – can help agency owners avoid the overwhelm and achieve forward momentum and progress.

Intro

In this episode of the Innovative Agency, we are looking ahead to 2023. If you’re like most agency owners, you have probably been planning for the new year and thinking a lot about metrics, numbers, money, and how to improve your profitability. As talks about a possible recession heat up, many have been wondering how they can prepare for tomorrow, today.

What You Will Learn in This Episode

• How forecasting, strategic planning, and KPI reviews can help you plan for the next 1, 3, or 5 years
• Why being financially responsible every day will set you up for success regardless of the economy
• The challenges many agency owners face when getting their finances in order
• What the “Million-Dollar Moment” is, and how that shifts an agency’s mindset around finances
• The “Hierarchy of Needs,” and the questions you should be asking to assess the financial health of your agency
• How to overcome overwhelm by focusing on the metrics that are relevant and deciding which ones are distracting

Bio

Ryan Watson is an experienced operations and finance leader for creative agencies and venture-funded startups. By day, he is a partner at Upsourced. Ryan helps scaling creative agencies see the future and drive profits. By night, he runs a tech startup and helps other startup founders avoid some of the mistakes he made in his career.

Previously, Ryan served as COO and CFO of Ahalogy, a venture funded influencer marketing agency, which exited to Quotient Technology, Inc (NYSE: QUOT) in June 2018. Prior to Ahalogy, he cut his teeth at Sqrl - a SaaS product incubated out of Upsourced that automated document collection for service firms. Sqrl received an Entrepreneur of the Year EDGE Award from Ernst & Young and 'Outstanding Emerging Innovation’ honors from the Cincinnati Business Courier.

Resources

• Websites:
  • https://ryankwatson.com/
  • https://upsourcedaccounting.com/
• LinkedIn:
  • https://www.linkedin.com/in/ryankeithwatson/
  • https://www.linkedin.com/company/upsourced-accounting/
• Facebook: https://www.facebook.com/upsourcedaccounting/
• Twitter: https://twitter.com/Upsourced?s=20&t=x1hKhOkI_oA2Z3Lhsyc_Bg
• Recession diagnostic:https://upsourced.typeform.com/to/DhjP6oh8
• Recession Guide: https://hubs.ly/Q01rFvjq0