Mistakes Agency Owners Make That Cost Money, with Drew McLellan.

By |July 11th, 2016|

Episode 40:

Drew McLellan is the Top Dog at Agency Management Institute. He has also owned and operated his own agency over the last 20-years. And all through the year, he straddles the fence of working in his agency and working with 250+ small- to mid-size agencies in a variety of ways.

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 a lot of 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:

  • Gross Billings vs. Adjusted Gross Income
  • How agencies lose money when pricing
  • Why scope creep leads to little or no profit
  • Why your agency needs to issue change orders and how to turn this into a process
  • Why you need to use the one page business plan
  • How to know if you need a better new business plan (hint: you probably do)
  • Why you need a tax advisor not a tax preparer

 

The Golden Nugget:

“Teach everyone in your agency what makes/costs the agency money every day.” – @DrewMcLellan Click To Tweet
“New business is like investing. You need to always be working on it.” – @DrewMcLellan Click To Tweet

 

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Ways to contact Drew McLellan:

We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

About the Author:

For almost 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 run) agency in 1995. Additionally, Drew owns and leads Agency Management Institute, which advises hundred 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.

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