Episode 369:

Fear is a familiar feeling in agency ownership. It’s easy to feel like you don’t know what you’re doing or might be missing something important, especially if you’re doing it all yourself.

In this episode, I’m delivering advice on how to conquer the biggest agency owner fears in a Collabs & Cocktails event hosted by Predictive ROI. Whether it’s imposter syndrome, money worries, figuring out how to manage employees, or learning how to collaborate with other agency owners, I have some advice that will help ease your mind and get you back to focusing on the important things.

For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops and more.

A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here.
agency ownership

What You Will Learn in This Episode:

  • The four biggest fears of agency ownership
  • How to eliminate money fears by running things by the numbers
  • Taking care of your employees so that they stick around
  • Why you shouldn’t operate on only referrals and word of mouth for biz dev
  • The importance of becoming an authority in your industry
  • Generating right-fit leads
  • Navigating imposter syndrome
  • The right way to collaborate with other agency owners

“The minute you understand agency math and how to think about your gross billings minus your cost of goods equals AGI, every agency on the planet can be profitable at 20%.” @DrewMcLellan Click To Tweet “If you have an area of expertise and you generously share that with content, being an active participant, and helping other people in the room, the minute you start doing that, you begin to build a reputation.” @DrewMcLellan Click To Tweet “No one has all of the answers. When you are clear about who you serve, how you serve them, and are trustworthy and transparent with your team and clients, you don't have to know it all.” @DrewMcLellan Click To Tweet “I will tell you that referrals and word of mouth are not a way to grow a business.” @DrewMcLellan Click To Tweet “I welcome a bit of nerves because it means I care and am committed to doing a great job.” @DrewMcLellan Click To Tweet

Ways to contact Drew McLellan:

Resources: