CASE STUDY: AGENCY
Smaller agencies that want to remain lean and competitive are taking advantage of outside services (like fractional accounting) to allow them to meet the ever changing demands of the market. We understand the unique needs of a start-up and have the financial and operational expertise to advise these founders through their own launch. Read on to learn how having a financial partner in place gave this small agency the competitive edge they needed from day one.
The Client
The client is a creative agency that opened in 2022. Founded by two industry vets with a clear business strategy and several loyal clients, they are primed for success. The only thing missing? A trusted partner who can offer clarity and support around the company’s financials while helping to put the right financial systems in place that can scale and not need to be reworked when the business grows.
The Beginning
Before working with SYZYGY the client had engaged a fractional CFO, but felt that this person did not understand their business. The lack of clarity around communication was frustrating and the founders ended up handling many of the day-to-day tasks themselves. With a busy schedule and a business to build, they would catch up on accounting tasks every few weeks. Sometimes they got things right and other times, not so much.
“The hardest thing for us was balancing the short term needs like paying freelancers on time with the long-term financial planning. We just didn’t have a partner that would give us the realities of the business, but also give gut reactions to the questions we had.”
The Process
The client wanted to take advantage of their clean slate and put systems in place that would sustain their business and grow with them. When it came to technological tools, they felt confident deciding which systems were working. As they dug into financial tools, that confidence waned, and they knew they needed a financial partner to help them get organized.
“At the beginning we spent a lot of time making undereducated decisions on the best tools, vendors, and partners to go with. From a tech stack standpoint it is easier to decide which tools feel right. When it comes to finances it is not just one thing, there is a variety of different tools. SYZYGY was able to provide guidance on how to build a finance ecosystem of tools and vendors that was really helpful.”
Systems and processes are something we love to advise clients on. Whether that is meeting with their freelance production team to talk through best practices on set or advising them on which staff payroll service best suits their needs, we are here to make sure the start-up phase is just that: a phase.
The agency is rounding out their one-year anniversary and feels confident in making financial and strategic decisions that previously felt too risky. We could not be prouder to be a small part in their journey and successes.
“Just last week we had a question about hiring a new employee. We know we are doing fine, but it is scary as business owners to make those decisions. Having someone confirm to us ‘Yes, you are fine. You are doing better than you think’ allowed us to make that call with confidence. To be able to make strategic decisions with rigor and guidance was a huge missing piece.”
The Results
So often new clients come to us feeling dejected after a bad experience with an accountant or CFO. It is not uncommon for owners to pay nearly double what we charge for our services to only receive a few opaque financial reports a year. We started SYZYGY because we knew leaders in the production and advertising industry were missing a strategic partner that could empower owners to take charge of their businesses with confidence.