Financial Confidence for Digital Agencies: A framework for building the business you've always wanted

by Paul Barnes

Overview

Are you short-changing your digital agency with poor financial management?

If you want to grow your profits, to be confident about your cashflow and ultimately to scale successfully, you need to become financially mature. And the bigger you become, the more this matters. But what does good financial management look like for your agency?

You have a distinctive vision for your business, which means you need a distinctive financial plan and benchmarks to get you there. And that means making finance a core part of your business, not a support function. Stop comparing yourself to other businesses, start getting clear on what results you want and confident about how to get them.

Paul Barnes has been helping digital agencies achieve this for years: discover his simple methodology and scorecard, and start your own journey to financial maturity.

“This book asks all the questions you need to consider as an agency owner” - Karen L Reyburn, CPA Owner of The Profitable Firm Ltd

Paul Barnes is the Managing Director of accountancy firm and outsourced finance function, MAP, based in the UK.

His award wins include Xero Most Valuable Professional, Manchester Young Financial Professional and Xero’s Most Innovative Firm.

He is regularly found at Digital Agency events in the UK speaking about Agency Maturity, Growth and Financial Management.

Product Details

ISBN-13:	9781788606394
Publisher:	Practical Inspiration Publishing
Publication date:	01/28/2025
Pages:	198
Product dimensions:	5.50(w) x 8.50(h) x 0.62(d)

About the Author

Paul Barnes is the Managing Director of accountancy firm and outsourced finance function, MAP, based in the UK.

His award wins include Xero Most Valuable Professional, Manchester Young Financial Professional and Xero’s Most Innovative Firm.

He is regularly found at Digital Agency events in the UK speaking about Agency Maturity, Growth and Financial Management.

Table of Contents

• Cover
• Praise for Financial Confidence for Digital Agencies
• Title
• Copyright
• Dedication
• Contents
• Introduction
  • The definition of confidence
• Part 1: The digital agency growth challenge: Do you still want this?
  • Chapter 1: Digital agencies are different
    • Do you still want this?
    • Coming to an informed decision
    • The key questions to ask from the data
    • Appetite to continue
    • Your decision to act
  • Chapter 2: Is your finance function fit for purpose?
    • Glass ceiling
    • The technician’s curse
    • Towards maturity
    • Financial maturity versus financial performance
• Part 2: The finance maturity curve
  • Chapter 3: Essentials: First steps in digital agency growth
    • Appropriate and effective data: The foundation for scalable financial processes
    • Compliance: Protecting your reputation through quality and timely delivery
    • Management accounts: Essentials: An accurate account of financial activity
  • Chapter 4: Enhanced: From numbers to narrative
    • Budget
    • Management accounts: advanced
    • Projections
    • Why and when to forecast cash flow
    • Enhanced: Bringing facts into the figures: Creating a budget for your digital agency – what not to overlook
  • Chapter 5: Extended: Mature financial thinking
    • Financial leadership
    • Mapping the strategy
    • Best and worst clients
    • Specialist services
    • Taking money and value out of your company
    • Research and development
• Part 3: Welcome to financial maturity
  • Chapter 6: Mapping strategy to figures
    • Client concentration
    • Lack of recurring revenue
    • Woolly proposition
    • Relying on expensive talent
    • Wrong shape and size
    • Distraction
    • Lack of process
    • Margin erosion
    • Appropriate investment
  • Chapter 7: Specialist services
  • Chapter 8: What next?
    • From ego to honesty
    • The curious mind
    • Growth versus fixed mindset
• Appendix 1: The MAP way
  • Should I hire an FD?
  • The finance partner
  • Elevate your finance function
  • Definitely NOT an FD
  • Free consultation
• Appendix 2: List of useful tools and resources
• Appendix 3: References
• Index

What People are Saying About This

From the Publisher

This book is like a comprehensive meeting with an accountant who asks you all the questions you need to consider as an agency owner - some you've been asking yourself already, some you've been avoiding, and some you didn't even know to ask. It's both detailed and readable in relation to your finances. Ultimately (and rightly) it prioritises the impact your agency has on you, the owner and leader. - Karen L Reyburn, CPA, Owner of The Profitable Firm Ltd

As an agency founder, I've spoken of the difference in the maturity of digital agencies versus other professional services firms such as PR companies, and legal or accountancy practices. It took many years to arrive at a set of structures and processes where my agency became consistently profitable. The result was not only a successful exit, but perhaps more importantly a very happy team, very happy clients, and a very relaxed and enjoyable experience for me running the agency. This book provides a blueprint for exactly this scenario. For agency founders and leaders, this book is gold. - Steve Brennan Co-founder & CEO Bespoke Digital Agency

I first met Paul, and MAP, back in 2015 when having invested in a Digital Agency, I found the financial recording and reporting to be missing some key aspects. To put it bluntly I needed to get more confidence in the numbers.

Over the following years I worked with MAP to provide me with what I needed to gain Financial Confidence in my business.

The lessons in this book come from 10 years of helping agency owners understand their finances that much better, building Financial Confidence in their businesses, and in many cases achieving better outcomes.

If you need to learn how to use finance as a tool to get what you need from your business, then I can't recommend this book strongly enough. - Stuart Brown,Chairman MAP. The Digital Agency Finance Function

The thing I love about this book is how it challenges you on why you're running an agency. It's a blueprint not just for a financially sound and sustainable businesses, but one that provides fulfilment and rewards well beyond numbers on a spreadsheet. - Andrew Armitage, Founder of Digital Agency A Digital

As an adviser to agency owners, I see a lot of different shapes and sizes but every single one is on a journey to their own goal. No matter where you are on yours, this book provides the insights and tools to accelerate your progress, guiding you toward achieving both your personal and professional goals. This book is your shortcut to a happier and healthier business. - Adam Downes FPFS Chartered Financial Planner, Pura Vida

A stimulating read for digi-agency owners looking to drive growth and scalability written from a hands-on, practical perspective of deep experience. Don’t be fooled by its easy-to-read style though, as it will challenge you to really self-examine and consider your ‘why’ before giving you a roadmap for the ‘how’. Get a copy for your entire leadership team and business book club. - Max Clark, Founder and Director, Upp B2B

Editorial Reviews

This book delivers a clear and actionable framework for improving financial management in a way that feels relevant and approachable...Rather than relying on theory, it offers real-world insights that resonate with the challenges of running a business. -Amazon 5*

If you’re looking to get the business you need to deliver the life you want, then this book sets you on the right path. -Amazon 5*

This completely changed how I think about managing my agency’s finances...If you’re serious about taking your agency’s growth to the next level, this book is an essential read. -Amazon 5*

Even after working in the digital agency space for the last 15 years, I found this book full of learnings and insights. I wish I'd found this book a lot earlier in my journey, it's essential reading -Amazon 5*

From the Publisher