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Seven steps to better biz dev

You have probably said or at least heard the agency-centric expression “new business cures all ills,” and it’s pretty accurate. Will it fix fundamental problems at your agency? Unfortunately, no. Those are still on you to solve. But it does fix a lot of cash flow challenges, too much time on our hands bickering, and morale issues. I believe that agency owners need to invest a significant amount of their time and attention to biz dev and yet, when I get into most shops, to say the effort is haphazard is an understatement. Most of you have a reactive new business program, which means you respond to what walks in the door through referrals, RFPs, etc. One of the areas where I see the least amount of prep is in that initial conversation. You go to all of that effort to get the meeting. I want to make sure you make the most of the opportunity. I wrote an article for Spin Sucks about seven steps you can take to improve that first impression, whether it’s a coffee meeting or a full RFP presentation. My guess is that some of them will just be a reminder but hopefully a few will inspire you and your team to tweak what isn’t working. Making some minor tweaks in how you show up may be all it takes to move you from being the agency that hears “we really liked you but we went a different direction” to “We can’t wait to work with you!” This was originally published in the weekly AMI newsletter.  To subscribe, click here.

November 30th, 2020|

What is going unsaid?

If there is an Achille’s heel for agency owners, it’s the ability to have candid conversations with members of their team. In our work with over 250 agencies a year, this is a pattern I’ve come to recognize all too often. A strong, charismatic owner is petrified to be honest with a member of their team. So they either avoid the topic altogether or they pussyfoot around the discussion, leaving the employee in the dark but feeling as though they can check it off the list. I have my own theories about why so many agency owners allow this weakness to paralyze their agency’s growth but whatever the root cause, it’s one of the biggest barriers to building the agency you deserve to own. See if any of these seem familiar: You don’t do regular reviews of your team You often find yourself talking (and repeating the same conversation) about an employee with your business partner or another employee that serves in a leadership role You have a love/hate relationship with a superstar performer who isn’t in alignment with your agency’s culture You tiptoe around conversations because you’re afraid of the repercussions You believe that having frank conversations that hold people accountable is not good for your agency’s culture You can be good at just about everything else, but if you can’t cultivate a culture of respectful candor — you’re going to hit a brick wall. Again and again. This is a leadership issue. This is a maturity issue, and this is a profitability and growth issue. If you want to attract and retain top performers — you have to be willing to rise above your discomfort and be candid with them. Beyond that, you [...]

November 23rd, 2020|

Successful business development strategies for agencies with Greg Jacobs

Successful business development strategies are always a hot topic when I’m talking with agency owners. That was true before the pandemic, so you can imagine how often we’re talking about it now! Business development for agencies has made a 180 over the past decade. Have you changed the way you sell to keep current? […]

November 23rd, 2020|

You still have time

I remember my parents lamenting how quickly time passed and, as a kid, I thought they were crazy. Every day seemed to crawl along. Now, I get it. A blink ago it was December and we were all planning our amazing 2020. Little did we know what 2020 had in store. Now, we’re almost to December again. How are you coming on those plans? If you’re a typical agency — you’re behind. Distractions, especially this year, (both worthy and the squirrel variety) have drawn your attention and your time away from your biggest priorities. It’s not too late but it is time to get serious about it. Here’s what I’d like you to do: Pull together any planning documents you developed for 2021 Schedule a 2-3 hour meeting with your leadership team A week ahead of that meeting, send them all the documents with your assessment of the agency’s progress on each goal Ask them to come prepared to discuss: Is this still a priority? (For each item) What do we need to do to get this back on track/keep on track? Who needs to own this goal/initiative? If we only accomplished one of these goals — which one matters the most? Have an open conversation around these questions and then revise your plan. Odds are, you were more ambitious than is reasonable. So get realistic with yourselves and get back on track. Note — if you don’t have any planning documents — that does not mean you should disregard this. You can still pull everyone together and create a plan for the new year. It’s time to build a rock-solid foundation for your agency. Think about how to strengthen your current client relationships, increase [...]

November 16th, 2020|

Finding and keeping good employees

One of the most frustrating things for agency owners is finding and keeping good employees. Before the pandemic, many agencies were having an amazing 12-18 months in terms of business development but those same agencies were actually choosing to tamp down their new business efforts because they were worried that they wouldn’t be able to staff for it. That’s a crazy position to be in. When a right fit client knocks on the door, you don’t want to say “thanks, but no thanks” because you’re afraid you can’t convince someone to work for you. I think it starts with having a very candid conversation with yourself. Given all the options out there, would you want to work for you? Many agencies (and corporate communications departments) are paying attention to what today’s employees value, especially given the pandemic, and modifying the work world. Here’s what you are competing against: Flexible work hours (everyone needs to be in from 9-4 but you can start earlier or stay later, based on your life’s needs) Permanent work from home options Unlimited PTO An AGI (or another metric) based bonus program Educational opportunities Student loan reimbursement 401K match A suite of insurances (health, dental, disability, life, etc.) and the agency provides at least partial payment Paid time off to serve the community or agency led community projects Bring your dog to work privileges A stocked snack room, with both healthy and not so healthy options Knowing that you can get some or all of that at the agency down the street (or from one of your clients) would you work for you? If you’re an old-school agency owner, I know you might be growling at that list. And if you [...]

November 9th, 2020|

How are clients being impacted by COVID and the recession with Susan Baier

How are clients thinking about and reacting to both COVID and the recession it triggered is on every agency owner’s mind. Will our clients go dormant? How are they approaching 2021 budgets and plans? Because we know this is vital intelligence for you, we decided to make that the focus of the 2020 Agency Edge research project. You’re going to find the data insightful and a relief. […]

November 9th, 2020|

When the going gets tough…

...you don’t go anywhere! I’ve spent the last several weeks with agency owners in our peer network meetings. As a part of that meeting, the owners have to present their financials (show P/L, Balance sheet, etc.) to the group. They also have to report sales progress, staff issues, and a host of other metrics. It’s always an interesting lens from which to see the agency owners. I am reminded of what a rare breed they are. We all get frustrated and discouraged sometimes. There have certainly been moments in time when I would have gladly sold my agency to you for a nickel. But not very many and that malaise never lasted very long. Because you’re an owner (if you are one) you forget how unusual you are. The risks you have taken are not risks most people are willing to accept. The emotional roller coaster you ride on a daily basis isn’t a ride most people can stomach. There is a blend of fortitude, resilience, and confidence in you that you take for granted but the truth is, it’s a very uncommon combination. Agency ownership is hard, even on the good days, but it’s relentless when things aren’t going your way (which, by the way, is inevitable). Your unflagging enthusiasm, “it will get better” belief and most of all, your willingness to be very uncomfortable for as long as it takes, is your secret weapon. Why am I reminding you of all of this? Because you think everyone is wired the way you are. But you are a rare breed. And that’s okay. But the misperception that everyone is like you can cause some trouble. It creates expectations that your employees often can’t meet. [...]

November 2nd, 2020|

Who are you?

I’ve been thinking a lot about origin stories lately. Each of us us a sum of the people and experiences that shaped us early on. It’s that combination of influences that create something unique. I’m a sarcastic, single malt Scotch drinking, Disney lover because of my Dad. I’m a music loving, bear hugging teacher because of my Mom. I’m a voracious reader because of an early teacher, Mrs. Vandiver. All of those (and many other) truths add up to make a one of a kind human being. A person I can’t really deny or hide. It’s just who I am. The more boldly I own that — the more authentic and unique I am to others. That’s true for our agencies as well. When we stop using the generic (full service, integrated agency) language that makes us sound like everyone else and really hone in on what makes us unique — we stand out. Every agency has a well-earned point of view that influences how they work and who they serve best. Unfortunately, many agencies don’t drill down deep enough to discover that point of view or unique position. I wrote a story for Forbes on how an agency can define what makes them different from all of their competitors. What’s keeping you from taking a stand? Why not embrace what your agency is truly all about? This was originally published in the weekly AMI newsletter.  To subscribe, click here.

October 26th, 2020|

The ROI of thought leadership with Susan Baier and Stephen Woessner

Thought leadership is one of those buzzwords that has been so overused, it has almost been rendered meaningless. But as Stephen Woessner and I preach to agency owners in our book, Sell with Authority, when done well for the right reasons, being an authority can drive significant revenue for your agency. Stephen’s agency, Predictive ROI, decided they wanted to quantify the value of thought leadership so they engaged Susan Baier (Audience Audit) to do some research to answer the question “is there an ROI to being a thought leader?” […]

October 26th, 2020|

The Ten Truths Of Thought Leadership

If you were asked to think of an authority on any subject, who would come to mind? What about them designates them as an authority? What’s true about them? And what does someone have to do to earn and keep the title of authority? Here are the Ten Truths Of An Authority. It isn't rocket science, but all of them are critical to be seen as a true authority in your space. And the impact of being an authority is huge! Command higher prices, have increased retention, improve your close rate, and reduce the length of your sales cycle. Download Your Copy

October 21st, 2020|

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