How We Manage Our Agency’s Money | Episode 226

[Cold open [ChatGPT shopping fees and profit margins.] ends at 06:55.] The money in your agency’s bank account isn’t all yours to spend. This week, we walk through how we manage finances at Evergrow and how that system has changed as we’ve grown. We cover collecting payments, keeping business and personal money separate, and getting an accountant before your books become a mess. We also explain how we adapted Profit First to give payroll, operating expenses, savings, and profit their own accounts. Those boundaries help us decide whether we can afford a new tool or hire without treating every dollar as available money. Then there’s paying ourselves. We’ve gone from taking home $12,000 each in a busy month to less than $1,000 in winter. We talk about what changed and why your personal income shouldn’t swing with your agency’s seasons. ----- MENTIONS IN THE EPISODE: ChatGPT 5.6 has transformed Shopping mode: https://www.tryprofound.com/blog/chatgpt-5.6-shopping-transformation#smaller-merchants-must-integrate-through-shopify-to-combat-this Reddit post shared by Jake: https://www.reddit.com/r/agency/comments/1wavilk/agency_owners_how_do_you_manage_your_finances/?solution=d6ced175b39ca535d6ced175b39ca535&js_challenge=1&jsc_token=2824be10929bdc604753c70a67a1c3311f738478fbc50c003b1beb425da34512&jsc_orig_r= Agencies Need the Profit First™ System (ft. Mike Michalowicz): https://www.agencygrowthpod.com/episodes/agencies-need-the-profit-first-system-ft-mike-michalowicz-150 The Tax Strategies Most Agency Owners Never Consider (ft. Emily Bowie): https://www.agencygrowthpod.com/episodes/the-tax-strategies-most-agency-owners-never-consider-ft-emily-bowie-w-thorne-advisors-222 ----- PREMIUM: Join the Patreon and get exclusive content from this episode with more in-depth advice and hours of bonus content each month: https://www.agencygrowthpodcast.com/premium ----- RESOURCES: Want the tools and resources we recommend for agencies? Check them out here: https://www.agencygrowthpod.com/tools ----- NEWSLETTER Want the show in your inbox? Sign up for the newsletter! https://www.agencygrowthpod.com/newsletter ----- COMMUNITY Looking to join a community of agency owners? Join our Discord! https://discord.gg/uvHRRRFVRD ----- CONTACT Got something to say? Send us a message: https://www.agencygrowthpod.com/contact