How much of your day do you spend working ON your business as opposed to working IN your business? If you’re like most agency owners, you are too busy fighting fires day to day to even think about anything else, let alone focus on the visionary work needed to move your business forward. It’s important [...]
As an agency owner, there’s one thing you learn quickly: It’s not necessarily how much money you make, it’s how much money you keep. And much of that has to do with having a tax strategy that works for you, your family and your agency. “The money that matters most is the money you [...]
Keep it simple. Sounds easy, right? Not so much. It’s one of those things that’s so much easier said than done. But until you begin to simplify your business, as well as the way you think about your business, it’s really difficult to maximize your performance. Simplicity is the common thread that runs through [...]
What is your agency worth? How do you know? What’s involved in an agency valuation? Once you understand your agency’s value, you can decide what tactics you need to take to improve that number. Staffing, technology, training, expansion and compensation. These are just a few of the elements that play a role in the valuation [...]
Every agency owner believes that they’ll sell their agency some day. But the truth is, most agency owners are not doing anything to make their business sellable. 90% of all agencies just close the doors one day. There’s nothing wrong with that. You can make a good living and pull extra money out every year [...]
Start with the end in mind, as Stephen Covey taught us. But you’re not going to get there without intentionally putting together a plan and then measuring your progress along the way to make sure you are meeting or exceeding your own expectations. The key in all of that is being intentional. You teach your [...]
Running or owning an agency is not easy. And it seems that these agency problems and challenges are getting tougher to face every year. Many agencies are watching their workloads grow while their fees and profits seem frozen in time. My podcast guest Michael Farmer has been tracking the evolution of agency work for the past [...]
One of the goals of many agency owners is to build a business that has enough value that someone will want to buy it from them down the road. If you got a call with a cash offer for your agency tomorrow -- would you be ready? Would your agency be? That’s exactly what happened [...]
A lot of agency owners are accidental agency owners. Do you remember the day that you looked around and realized that you were running a business? For many agency owners, that wasn’t really the plan. And even if it was – we’re not prepared for it. We grew up in either the account service world [...]
As agency leaders, we’re as good as our last idea. So we’re always on the lookout for fresh thinking and emerging trends to take to our clients. But how do we do that in today’s overloaded information age where there is never enough time and so many other distractions? And how can we look into [...]
