Episode Summary
Veronique James didn’t just overcome adversity, she used it as fuel to build The James Agency, a powerhouse of creativity and strategy. In this episode, she shares her journey from early struggles to scaling a successful agency, her leadership philosophy, and the game-changing decisions that shaped her business.
If you’ve ever wondered how to weather financial setbacks, grow an agency with intention, or implement open-book management for stronger team buy-in, this episode is packed with insights you won’t want to miss.
Episode Highlights
- How Veronique turned a financial crisis into the foundation for her success.
- Why transparency in finances can empower your team and drive growth.
- The simple yet powerful 10% Project that helped TJA stay lean and profitable.
- Pivoting in crisis, how her agency rebounded from a 62% revenue loss during COVID without layoffs or pay cuts.
Agency Info
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Company: The James Agency
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Guest: Veronique James
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Year Started: 2005
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Employees: 1-10
If people believe in me, then I have no right to be looking in the rearview mirror thinking I can’t do this.
Veronique James
Key Takeaways
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.
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