Do you struggle with the cash reserves for your digital agency or worried what could happen if you potentially lose a major client?

These concerns aren’t unusual and understanding cash reserves for your agency is not only important for your business but makes you a better agency owner when you have all your finances organised. Being concious of the cash reserves you have within your agency prepares you for potential risks, no matter what they may be.

Some of these risks can be clients and having a clear understanding of why clients, major or small, might leave and how to avoid it will help your agency in the long run. This also falls into one question we received about how you should respond when prospects ask for a success story that you don’t have yet.

{3:01} Alina asked: “How much money should we have in reserve for a rainy day to run our agency successfully?”

{6:12} George asked: “We just lost a major long term client. We never saw this coming because we’ve won a lot of awards on their work and they’ve seen traffic and sales growth every year we’ve worked together. Why do you think they left and what could we have done differently?”

{9:11} Phill asked: “When you’re pitching for that first big project that you have not done for anyone yet, what is a good approach when the prospect asks, “Do you have an example of this that has been successful for another client?” And this being your first pitch for this type of project, you don’t have any examples to give them. So, what’s a solid comeback?”

Related:  http://jasonswenk.com/askswenk50

You find more of my Ask Swenk series by clicking here or why not visit my Youtube channel for more of the series and lots more videos that can help you as an agency owner improve your business.