In this week's AgencyHabits Podcast, Peter and Sei-Wook go deep on working capital: the timing gap between when you pay your team and when clients pay you.

The core insight: two agencies can have identical revenue and identical margins, but completely different financial realities. One has $300K in cash. The other has $300K in receivables. Same P&L. Very different stability.

They cover:

• Why moving upstream to enterprise clients (net 60, net 90 terms) can create a liquidity crisis disguised as success
• The difference between cash and accrual accounting, and why distributions based on cash accounting empty your reserves
• The "prepaid service trap" of selling hour bundles with no expiration date
• What healthy working capital actually looks like: billing in advance, auto-pay, tight AR management

If your P&L looks great but you're constantly stressed about cash, this episode explains why.

Want to continue the conversation?

Our next FREE AgencyHabits Knowledge Share is happening on March 25 at 12:30 PM ET, and we're diving into a topic that shapes how agencies grow, get referred, and win work: Your Agency Ecosystem.

We'll break down:

• Where your agency actually exists in conversation
• How to map the networks, platforms, and communities that drive your referrals
• The difference between a contact list and a true ecosystem
• When to go deeper vs. expand to adjacent spaces

The right ecosystem compounds. The wrong one wastes your time.

Who are we?

Hi, we're Peter and Sei-Wook, co-founders of Barrel Holdings, a portfolio of agency businesses. We also run AgencyHabits, a resource for agency operators featuring lessons learned from our various agency businesses.

Thanks for being a subscriber. If you or anyone you know is interested in selling their agency business, please check out what types of agencies we're looking for and email hi@barrel-holdings.com.

Also: Peter posts a lot of agency content on LinkedIn, give him a follow!