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What is undersharing costing you?

We spent the weekend in Dallas as I completed a bucket list goal of seeing a baseball game in every ballpark in North America. After pursuing that goal for 15+ years, just walking into the final ballpark was going to be pretty exciting. But I couldn’t have imagined just how amazing the weekend would turn out to be. Danyel and I could have just gone to the game, and it would have been awesome. But I’d been sharing this goal with people for years. Odds are, even if we’ve never met, you probably know I’ve been chasing this dream for a long time. As a result of sharing that goal, people wanted to help or participate. They’d ask which parks I had left. I got invited to games or people offered to get on a plane and meet me at the final ballparks. They were cheering me on and felt engaged. As a result, for my final ballpark — we were surrounded by 30 family and friends who were very invested and wanted to celebrate the milestone with us. Their participation made it so much more than just a checking of the box. At AMI we are constantly reminding you that we learn faster and better when we learn together. That’s true inside our shops as well. One of the things we hear from your employees over and over is “I wish we understood the agency’s/owner’s goals so I could help us get there.” I know you think you share the goals. But most of you don’t do it often enough, with enough detail or context so they get excited about helping you get there. This has been a tough year for many of you [...]

August 11th, 2023|

How do you eat an elephant?

(Or a HUGE zucchini if you’re a vegetarian)   When I was a kid, my mom kept a vegetable garden. I’m not going to disparage her abilities but let’s say that we still bought a lot of vegetables every summer! Which made my mom’s crowning achievement as a gardener all the more amazing. One morning, while she was weeding, she discovered a ginormous zucchini. Like the size of your thigh level zucchini. In fact, it was so big the local TV news did a story on it. (Imagine a camera crew in our backyard while my mom hoists this monstrosity of a vegetable in her arms — clearly a slow news day!) We ate that zucchini for days. In a vast number of different ways. There’s no way we could have consumed it all in one meal, even if we’d invited the entire neighborhood. It was definitely a one bite at a time task. Whether you’ve owned your agency for 20 years or 20 months... it’s a work in progress. I don’t know about you, but I find that both incredibly frustrating and equally exhilarating. After many years of facilitating our agency specific version of Traction, I can tell you one of the biggest obstacles to improving your agency is that you are overly ambitious. You bite off more than you and your team can possibly chew and when it gets overwhelming (which it does pretty quickly) you abandon all of the efforts. It takes a lot of patience and discipline to recognize that the ONLY way you can create sustainable, meaningful change in your agency is to eat the elephant (or zucchini) one bite at a time. An agency cannot focus on more than [...]

August 4th, 2023|

What if you didn’t…

Are you feeling pressed for time? Does your To Do list feel overwhelming? Do you wish you had more time to just chill with your family this summer? In the process of writing my keynote for this past year’s BABA Summit, I spent some time researching how we can all create some margin in our lives. Margin for reading. Margin for enjoying sunsets. Margin for digging into a deep conversation. Margin for doing work that matters. Margin for just catching your breath. Some of these numbers blew me away. The average American spends 4.9 hours a day watching TV. And we watch reality TV garbage like Selling Sunset as opposed to watching something inspiring, educational, or redeeming in any way. Americans spend almost 4.5 hours a day on their mobile devices. In contract — Americans spend 15.6 minutes a day reading, 14 minutes a day exercising, and only sleep 6.8 hours. We spend less than 8% of our time outdoors and a whopping 37 minutes of quality time with our family a day. I’m not suggesting you stop watching TV or smash your cell phone and I’m guessing most of you live a life that’s more balanced than these stats would suggest. But when someone tells me there’s not enough time in the day and they can’t possibly accomplish all they want to do — I have to call foul. Our lives are a collection of our habits. Which of your habits are serving you? Which help you be the best version of yourself? Which feeds your soul, your mind, your creativity, and your body? Here’s my challenge for you. First — if you magically had an extra hour a day, how would you spend [...]

July 28th, 2023|

In a blink

Our oldest daughter Kelsey turns 30 today. 30. As in years of existence. How in the heck did that happen? In a mere blink ago she was banging her head on the coffee table as she learned how to walk. (A baby bike helmet seemed like a good idea at the time!) Another blink — her first day behind the wheel of a car. In what felt like half a blink — I was walking her down the aisle. Time has a way of catching us off-guard, doesn’t it? And we don’t get it back. It’s very difficult to go backwards and undo something we did or even tougher... do something we should have done a long time ago. The consequences of not being mindful of time’s fleeting nature can be painful and costly. I don’t have a lot of regrets in my life but if there’s a theme around the regrets I do have it’s often “I wish I’d done XYZ sooner.” I’m looking at the calendar and feeling time’s hand on my shoulder. We only have five more months in the year. I have a small handful of To Do items, changes in our business, relationships to invest in, and new ideas to explore that I keep saying...”later this year.” It’s NOW later this year and honestly, I haven’t touched most of them. I have all the ready excuses. Super busy, full calendar of meetings, calls, and coaching, lots of travel days, got married, etc. etc. Time doesn’t care about my excuses. It just keep marching on. And my “after in the year” window keeps getting smaller. Not only that — but my back of the napkin math suggests I’ve probably left $50-100K [...]

July 21st, 2023|

The peaks and pitfalls of AI innovation with Paul Roetzer

AI has been at the top of everyone’s minds this year, particularly with the birth of ChatGPT in November 2022. We’re currently in a renaissance where AI innovation and creativity are fusing to push the limits of what we ever thought was previously possible. […]

July 17th, 2023|

Member only webinar archives

2020 Creating a growth culture - Doug Austin Watch the replay here Discover your leadership superpowers - Chris Tieri Watch the replay here AMI Agency Edge Research (member only data)  Watch the replay her 2021 Tax Strategies - Craig Cody Watch the replay here Building your agency’s strategic chops — Adam Pierno Watch the replay here Signs that your account is in trouble — Stacy Singer Watch the replay here Cash flow management  — Doug Kauffman Watch the replay here AMI Agency Edge research  (member only data) - how are clients feeling post pandemic? Watch the replay here 2022 Building your wealth outside your agency — Adam Carroll Watch the replay here How to increase your agency’s value - Drew McLellan and Danyel Newcom McLellan Watch the replay here 2022 Agency Edge research - how are agency employees feeling about agency life? Watch the replay here 2023 Keeping and growing your clients -  Emma Watt  Watch the replay here Profit leaks in your agency - Juliana Marulanda Watch the replay here AMI Agency Edge research (member-only data) - how, when, and where do clients give their agencies more money Watch the replay here The legalities of AI - Sharon Toerek Watch the replay here  

July 15th, 2023|

Bend or you’ll break

We just got home for a whirlwind family vacation that included NYC, Paris, and Portugal. I was very familiar with the first two destinations but none of us had been to Portugal before so it was fun to explore a new place. One of the many things that surprised me about Portugal was finding bamboo growing in the less urban areas. It was unexpected and when we discover something unexpected today — we google it! As I was reading about how bamboo was brought into Portugal because its warm and windy climate is the perfect growing conditions for the plant, I was also reminded of bamboo’s strength. Bamboo, it turns out, is designed for strength, unlike other woods. Because of it’s internal microbiological structure, each stalk can withstand more stress and can bend with the pressures, giving it a higher tensile strength than steel! In my decades (ouch!) of working with agencies, I’ve come to believe that the ability to bend or flex as needed is one of the most vital core skills for a successful agency owner or leader. The reality is — our industry is often on the forefront of change and our clients look to us to herald in that change and help them adapt to it. We did it during the great recession, COVID and now we’re doing it with AI. An agency owner or leader has to naturally be flexible or if that’s not your strong suit, you need to develop the ability to bend. I believe it’s more of a mindset than anything else. Once we recognize and either accept or ideally embrace the concept that change is a natural part of our work and honestly — can be [...]

July 14th, 2023|

Cynthia Goodwin

Cynthia Goodwin | Client Service Specialist & Executive Assistant Cynthia Goodwin is a seasoned Executive Assistant with over 15 years in the field. She has extensive experience with all administrative tasks, especially scheduling, and correspondence. She has a proven track record with high-volume and high-pressure environments and is excited to skillfully manage administrative duties and clients for AMI. As Client Service Specialist and Executive Assistant for AMI, she ensures the smooth operation of the agency, as well as helps make Drew and Danyel’s lives a little easier, freeing up their time, and allowing them to ensure AMI is always your go-to for support in running your agency. In addition to her duties at AMI, Cynthia is very active in her Army family community, volunteering with many different spouses’ clubs and organizations, as well as activities within the school district. When she is not working, she is spending time with her beautiful family, her husband Dan, their 4 boys, and 3 fur babies.

July 12th, 2023|

Don’t count your chickens too early

Whether you prebill for media or you bill half upfront on a job for services or strategy, no matter what when you bill a client and it's prebilled, meaning you're billing it before the work is done. That should not show up on your P&L at all. That is not income to you. It's actually a liability and should show up on your balance sheet. And here's why? If the client changes their mind and asks for the money back, you haven't earned that money yet. You have to give them back their money. And so that's why, number one, all agencies need to work on an accrual basis. And number two, how you book that income and when it's income is very important in terms of tracking your AGI, your growth, your revenue, etc. Let's say you prebill a client for $100,000 of a media spend, and 15% of that is going to be commissioned to you. All $100,000 should be booked as a liability. So you want to show that it came into the company. But it sits on your books as a liability until you actually do the work or place the media buy, until you spend the money in one way or another, then you bring it over to your P&L. 15% becomes income and the rest becomes a cost of goods expense and an equal amount of income on the client's invoice side.

July 12th, 2023|

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