Company: The James Agency
Owners: Veronique James
Year Started: 2005
Employees: 50 – 99
What It Takes to Scale an Agency Through Challenges and Change
Growing an agency is never a straight path—but what happens when you’re forced to navigate massive setbacks right from the start? In this episode of An Agency Story, we sit down with Veronique James, Founder and CEO of The James Agency, to uncover how she built and scaled her agency despite financial struggles, industry challenges, and an unpredictable market.
Veronique’s journey is one of resilience, adaptability, and smart business strategies. From weathering a personal financial crisis in her early 20s to leading a thriving agency today, she shares the hard-won lessons that agency owners can apply to their own businesses.
Inside This Episode:
- How Veronique transformed financial hardship into a launchpad for her agency’s success
- The power of open-book management and why financial transparency empowers teams
- How The James Agency pivoted during COVID and rebounded from a 62% revenue loss
- The 10% Project – a simple but effective strategy for cutting unnecessary expenses and maximizing profitability
- Why maintaining an in-person culture still matters in an increasingly remote world
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How Veronique Built a Thriving Agency
Turning a Crisis into an Opportunity
Before starting The James Agency, Veronique faced an unexpected financial crisis…$250,000 in debt from a failed marriage. With no outside funding and no choice but to move forward, she began freelancing to make ends meet. That side hustle quickly evolved into an agency, and through sheer determination, she turned adversity into the foundation of her success.
Her story proves that grit and resourcefulness are just as important as talent when building a business.
The Power of Open-Book Management
One of Veronique’s most impactful leadership strategies is open-book management, a transparent approach where employees have access to financial data and understand their role in the company’s success.
“The decisions our employees make affect the agency at large. When they see the numbers, they take ownership, and that’s where real accountability happens.” – Veronique James
By openly sharing financials, Veronique has built a culture of trust, responsibility, and high performance at The James Agency.
Surviving and Thriving Through Crisis
In 2020, The James Agency lost 62% of its revenue in just one hour as COVID devastated the hospitality and entertainment industries. But instead of downsizing, Veronique doubled down on strategy, client relationships, and internal efficiencies.
How did they recover? By:
- Refining financial processes – Using granular, day-to-day cash flow tracking to manage expenses
- Diversifying revenue streams – Reducing client concentration to avoid over-reliance on any one industry
- Maintaining 100% of staff – Prioritizing team morale and engagement instead of layoffs
By the end of 2020, the agency had closed the year with only a $100,000 loss, a remarkable recovery that set them up for record-breaking years in 2021 and 2022.
The 10% Project: Cutting Costs Without Cutting Corners
One of the game-changing strategies Veronique implemented was what she calls “The 10% Project”…a simple but highly effective way to reduce overhead without sacrificing quality.
Her approach? Audit every expense, subscription, and service, then negotiate or cut at least 10%.
“We went through every line on our P&L, negotiated better terms, eliminated excess spending, and optimized our cash flow. Most agencies don’t realize how much money they’re leaving on the table.” – Veronique James
This disciplined approach allowed The James Agency to stay lean, profitable, and prepared for future economic uncertainties.
Resources & Show Notes
- Learn more about The James Agency
- Read The Great Game of Business – a must-read on open-book management
- Follow Veronique on LinkedIn
Don’t Miss This Episode
Veronique James’ story is an inspiring reminder that resilience, smart financial management, and a strong team culture can set an agency up for long-term success.
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