Understanding the Finances of Your Business

Understanding key financial metrics of your firm is as important as staff development or client management. This day-long session will teach attendees how to understand and assess the firm’s financial health, as well as the ramifications of hiring, compensation and client investment decisions.

Developed for mid-level professionals who are new to managing account budgets, attendees will understand critical ratios, learn the important factors to consider when managing for profit, and how to handle difficult budget discussions with clients.
The program will cover such areas as:

  • Income Statements
  • Cash Flow
  • Managing for Profit
  • Managing Retainers
  • Client Interaction

Who Should Attend:

* Account team leaders with 6-12 years experience (at the Account Supervisor, Account Manager, and Vice President levels)
* Non-traditional hires (with no previous agency experience) who will be in a leadership position

What attendees have said:

“Every PR person should be required to go to this seminar. Darryl breaks down the complexities of agency finances in a clear and tangible way.”

“The day provided a great basis for building a profitable practice and also offered gems that could be immediately implemented to improve partnerships with clients and lift some of the stress on account teams.”

Course Instructor:

Darryl Salerno has spent more than 30 years in the management of Public Relations agencies. Currently he is President of Second Quadrant Solutions, an organization that specializes in working with professional service firms to improve their business performance, profitability, systems and management training programs.

Darryl has also served as Chairman and CEO at Magnet Communications, Chief Financial Officer at Edelman and Ruder-Finn and was a member of the board of directors at Burson-Marsteller. In addition to handling public relations activities for Merrill Lynch, Burger King and Johnson Wax, during his 18 years at Burson-Marsteller he served a variety of functions including Worldwide Director of Finance, Chief Administrative Officer/New York, Worldwide Director of Information Technology, President of BM Enterprises and Director of Creative Services.