How Agencies Can Diversify Income and Avoid Cash Flow Issues
When we agencies were just starting out and had a single client for our new agency, that was a perilous position. And even later when we added more clients, many of us still found ourselves with just one or two who are bringing in the majority of the revenue. If ever they left, our agency would be in a world of hurt.
Along the same lines, having just a single source of revenue keeps our income and our livelihood at risk. Offering different kinds of services or establishing other sources of revenue sounds like a good idea, but it’s harder than you think. How do you figure out which income streams to pursue? How do you balance it or find options that can complement each other? How can agencies diversify income?
That’s exactly what Phil Pallen is going to talk to us about in this episode of Social Pulse Podcast, hosted by head of Strategic Partnerships at Agorapulse, Mike Allton. Listen to the full episode below or read on for the transcript.