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Search results for: agency management

What Your Agency Needs To Do To Charge a Premium in 2016, with Drew McLellan.

[easy-social-share buttons=”facebook,twitter,google,linkedin,mail” counters=1 counter_pos=”topm” total_counter_pos=”leftbig” style=”icon_hover”] Drew McLellan is the Top Dog at Agency Management Institute. For the past 21 years, he has also owned and operated his own agency. Drew’s unique vantage point as being both an active agency owner and working with 250+ small- to mid-size agencies throughout the year, give him a unique perspective on running an agency today. AMI works with agency owners by: Leading agency owner peer groups Offering workshops for owners and their leadership teams Offering AE bootcamps Conducting individual agency owner coaching Doing on-site consulting Offering online courses in agency new business and account service Because he works with those 250+ agencies every year — he has the unique opportunity to see the patterns and the habits (both good and bad) that happen over and over again. He has also written two books and been featured in The New York Times, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog “One of 10 blogs every entrepreneur should read.”     What you’ll learn about in this episode: Why the speed of change is the new normal and why you have to embrace that How what agencies sell has changed from the Mad Men days to today Why you need to tie marketing, sales, and customer service together to be a great agency in 2016 Why data analysis is more important than it ever has been Leads, sales, and retention: why you need to focus on these at a much higher level if you want to keep charging a premium price The importance of making real time decisions and adapting based on data Why we need to work with clients who may be resistant to [...]

October 24th, 2016|

Systemizing Your Agency Using Documented Processes with Andrew Dymski

“We were kind of just flying by the seat of our pants, to be honest. We weren't operating off of a tight scope. We were just out there creating stuff that we knew we should be making, but there was no structure or order to it at all. We aren’t sure how to streamline processes at work.”   Sound familiar?   That sounds like an agency in need of some processes and systems. My podcast guest Andrew Dymski was describing his own agency in the quote above. Fortunately, he realized that they had to stop reinventing the wheel with every new project or client. What he discovered is that by creating documented processes for each step of the client journey, they were able to become more focused and much more profitable. So many agencies know they need to systematize their agency but it’s a daunting task so the excuses are easier. As Andrew put it during our conversation, “you’ve got to put a firm date on the calendar when you're going to step back, pop the hood, and look at the agency and the way it's running.” Follow Andrew and I on his journey down the process and systemizing your agency rabbit hole and how his agency came out on the other side:   How Andrew and his business partner Gray MacKenzie started their agency while they were still in college and the transformation that GuavaBox has undergone since then How Michael Gerber’s “The E Myth” transformed how Andrew’s agency was ran Using blogging as a method for separating yourself Why clients will leave if communication is poor — even when you’re doing great work DoInbound: a tool for creating templates that power the delivery of services just [...]

October 21st, 2016|

Implementing Process Around Your Agency’s Deliverables, with Andrew Dymski.

[easy-social-share buttons=”facebook,twitter,google,linkedin,mail” counters=1 counter_pos=”topm” total_counter_pos=”leftbig” style=”icon_hover”] Andrew Dymski is a co-founder of DoInbound, a process and project management platform for inbound marketing agencies and GuavaBox, an inbound marketing agency. He is a lacrosse coach on the side and loves doing almost anything outside. He is also the co-host of Inbound Agency Journey, a weekly podcast for agency pros.     What you’ll learn about in this episode: How Andrew and his business partner Gray MacKenzie started their agency while they were still in college and the transformation that GuavaBox has overwent since then How Michael Gerber’s “The E Myth” transformed how Andrew’s agency was ran Using blogging as a method for separating yourself Why clients will leave if communication is poor — even when you’re doing great work DoInbound: a tool for creating templates that power the delivery of services just for inbound marketing agencies How creating DoInbound has helped the way Andrew works with his clients Why you need to figure out your vision and share that with your core team Listing and pruning your agency’s list of deliverables How to create processes with your employees and get them to actually follow the processes created How many processes are too many processes? Why you need multiple iterations of processes What meetings about processes with your employees should look like What you can do right now to put some of the ideas from this episode in place without freaking out your team   The Golden Nugget: […]

October 17th, 2016|

Hey agency owners — don’t damage your relationship with media partners

From the dawn of time, agencies have worked hand in glove with their media partners.  They are a vital part of how we serve our clients and the relationship we have with them is one we absolutely need to protect. When you/your client has a strong relationship with your media partners, you get: Added value placement Better pricing Sneak peeks at products, new pubs etc. Opportunities they don't offer others PR and media coverage (they say they are not related....but come on.  We know better) Better payment terms and grace when things get weird Referrals and recommendations (for PR stories, etc.) Here are some of the things agencies and clients do to their media partners that damage that critical relationship: Give them the run-around: Be accessible when they have questions about something you've asked them to spec out or prepare.  And don't ask them for 97 variations of every nuance of a media plan.  Be respectful of their time and expertise.  Ask for what you need -- not everything you can possibly think of. Pull the rug out from under them: I totally understand that changes happen but you need to follow the industry best practices (as cited by 4As, IAB and other agency networks and experts) if you need to modify or worse -- cancel a buy.  Here are the standard, acceptable cancellation time-frames. Broadcast:  31+ days if the contract does not specifically forbid any cancellations once the buy is placed, which is often the case. Check your contracts before you even call. Print: 31+ days Digital: 14 days (and honestly -- I disagree with IAB on this.  I think 31+ days is much more respectful) Out of home:  61+ days (remember, they are often printing [...]

October 15th, 2016|

Understanding Your Agency’s Value and What You Can Do to Boost that Value with Henry Corona

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 of your agency. My podcast guest Henry Corona has been providing agency valuations, consultation on M&A deals and coaching agency owners on how to increase the value of their shop for decades.  He has an extensive knowledge of agency value and helps owners focus in on what they need to be looking at if they want to sell somewhere down the road.   Henry and I help you make sense of it all with: Henry’s transition from the film business to the advertising business Mistakes agency owners make that hinder their ability to sell their agencies Where agencies need to be investing Why tracking hours is critically important What to do about employees that cost your agency money Why your agency should have a profit sharing system Understanding your agency’s value and what it means AGI numbers you need to know What diminishes the value of an agency Charging brain surgeon prices vs. charging nurse prices Training clients so they don’t feel like they’re getting the “B Team” What agency owners can do right now to improve on the ideas from this episode Henry Corona graduated from Grinnell College in Iowa, moved to Los Angeles, and earned an MA in Economics from UCLA. He worked as an Economist for the Rand Corporation, and while at Rand, Henry earned an MBA in Finance & Marketing from USC. Upon graduating, he joined [...]

October 7th, 2016|

How To Turn Your Agency Into An Asset, with Henry Corona.

[easy-social-share buttons=”facebook,twitter,google,linkedin,mail” counters=1 counter_pos=”topm” total_counter_pos=”leftbig” style=”icon_hover”] Henry Corona graduated from Grinnell College in Iowa, moved to Los Angeles, and earned an MA in Economics from UCLA. He worked as an Economist for the Rand Corporation, and while at Rand, Henry earned an MBA in Finance & Marketing from USC. Upon graduating, he joined the M&A department of a conglomerate. He went to work for Lucasfilm Ltd. in various financial management positions during the first Star Wars and Raiders of the Lost Ark film series. His experience included cash and investment management, comptroller for profit sharing, merchandising, publishing and music. Following Lucasfilm, Henry worked in various film and entertainment companies including 20th Century Fox and New Line Cinema. He went into the Advertising business by working for Dave Martin, founder of the Martin Agency, and has worked in financial and transactional management in marketing, advertising, communications technology ever since. His experience in marketing communications has included mergers & acquisitions, business valuation, and serving as CFO for ad agencies, tech start-ups, film and video production companies, and other communication technology businesses.     What you’ll learn about in this episode: Henry’s transition from the film business to the advertising business Mistakes agency owners make that hinder their ability to sell their agencies Where agencies need to be investing Why tracking hours is critically important What to do about employees that cost your agency money Why your agency should have a profit sharing system AGI numbers you need to know What diminishes the value of an agency Charging brain surgeon prices vs. charging nurse prices Training clients so they don’t feel like they’re getting the “B Team” What agency owners can do right now to improve on the [...]

October 3rd, 2016|

Selling Your Agency and Preparing Your Business for Sale with John Warrillow

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 and then when you’re done – lock the door on your way out. But if you do want to sell your agency, the time to begin prepping it for sale is today.  Even if you’re 10+ years away from retirement, the time is now.   Do you want to keep it? Pass it on to your kids? Sell it to your employees or maybe sell it to an outside buyer?  Each of these options requires you to prepare and be ready when the time comes.    My guest, John Warrilow helps business owners prepare for these options. Join John and I as we walk through the ways that you can get your agency ready for the future by discovering: John’s book “Built to Sell” The very easy path for agencies to follow that make it extremely hard to sell What services look like that make an agency sellable Why you can’t confuse the doing with owning a business When is it time to say no to business? What to do after selling your agency Things to avoid when exiting your agency Services agencies can offer on a subscription model Standardizing a process and giving that process or product a specific name Why you shouldn’t surround yourself with journeymen agency employees How to assess how sellable your agency is and what can be done to make your agency more sellable John [...]

September 2nd, 2016|

How to Build Your Agency So You Can Sell It, with John Warrillow.

[easy-social-share buttons=”facebook,twitter,google,linkedin,mail” counters=1 counter_pos=”topm” total_counter_pos=”leftbig” style=”icon_hover”] John Warrillow is the author of books “Built to Sell” and “The Automatic Customer” and founder of The Value Builder System™ where advisors help company owners increase the value of their business. Previously, he founded Warrillow & Co., a subscription-based research business dedicated to helping Fortune 500 companies market to small business owners. A sought-after speaker and popular Inc.com columnist, John lives in Toronto.     What you’ll learn about in this episode: John’s book “Built to Sell” The very easy path for agencies to follow that make it extremely hard to sell What services look like that make an agency sellable Why you can’t confuse the doing with owning a business When is it time to say no to business? What to do after you sell your agency Things to avoid when exiting your agency Services agencies can offer on a subscription model Standardizing a process and giving that process or product a specific name Why you shouldn’t surround yourself with journeymen agency employees How to assess how sellable your agency is and what can be done to make your agency more sellable   The Golden Nugget: […]

August 29th, 2016|

The 3 Kinds of All-Agency Meetings You Need to Hold, with Drew McLellan.

[easy-social-share buttons=”facebook,twitter,google,linkedin,mail” counters=1 counter_pos=”topm” total_counter_pos=”leftbig” style=”icon_hover”] Drew McLellan is the Top Dog at Agency Management Institute. For the past 21 years, he has also owned and operated his own agency. Drew’s unique vantage point as being both an active agency owner and working with 250+ small- to mid-size agencies throughout the year, give him a unique perspective on running an agency today. AMI works with agency owners by: Leading agency owner peer groups Offering workshops for owners and their leadership teams Offering AE bootcamps Conducting individual agency owner coaching Doing on-site consulting Offering online courses in agency new business and account service Because he works with those 250+ agencies every year — he has the unique opportunity to see the patterns and the habits (both good and bad) that happen over and over again. He has also written two books and been featured in The New York Times, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog “One of 10 blogs every entrepreneur should read.”   What you’ll learn about in this episode: The daily traffic / huddle meeting for discussing daily vital priorities and how to make this meeting work regardless of agency size The monthly all-staff meeting for informing and inspiring your team The twice a year to quarterly meeting for team building and planning   The Golden Nugget: […]

August 15th, 2016|

How to Create a Modern, Content-Driven Agency with Paul Roetzer

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 clients this every day. But when it comes to your own agency, many of you don’t really have a plan or aren’t actively working the plan you have. My podcast guest Paul Roetzer is nothing if not intentional. He created and built his agency with intention every step of the way. As a result, he now has an agency that is an industry leader when it comes to content creation, inbound marketing, performance and strategy. Paul and I cover pricing, content strategy, client fit and employee retention in this podcast. Listen in to see: Why Paul started PR 20/20 How to create a modern, content-driven agency Standardizing pricing to prevent scope creep Paul’s point system for pricing How to create a content strategy that works today Top of the funnel content vs. bottom of the funnel content Using the point system for professional development Where to find the great content writers that you will need to hire How PR 20/20 decides if a client is a good fit The Marketing Score Automated Insights Steps agencies can take right now How to keep employees around and enthusiastic Paul Roetzer is founder and CEO of PR 20/20, a Cleveland-based inbound marketing agency and HubSpot’s first Agency Partner. He is author of “The Marketing Performance Blueprint” (Wiley, 2014) and “The Marketing Agency Blueprint” (Wiley, 2012); creator of Marketing Agency Insider and Marketing Score; [...]

August 5th, 2016|

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