Search results for: advanced ae bootcamp

Before we dive into today’s topic — I first want to say thank you for your listenership and loyalty! We are downloaded in over 85 countries and I’m grateful for every listener. This solocast is Episode 150 of Build a Better Agency and I’m grateful for your time and the conversations we’ve had over the last three years. Way back in Episode 35 (in early 2016), we talked about the employee shortage and the challenge the shortage was creating for agencies and agency owners. If anything – things have gotten tougher. As you know, I see the financials for about 120 AMI agencies a year. I review their P&Ls, balance sheets, ratios, and some other information. And I will tell you that even though agencies may have had a good year financially in 2017 — they didn’t actually get to keep a lot of the money they earned. And the reason why they didn’t is because their employees are taking more and more of that money. This is happening because of scarcity. The truth of it is…scarcity wins. And right now, your employees are in control. There are fewer good agency employees than there are agency needs and jobs. And I don’t think this is going to change any time soon. I thought it might be helpful if I shared how some agencies are addressing this challenge. I will walk you through some creative benefits employees consider to be brag-worthy, as well as the benefits that scored at the top of our research with over 1,000 agency employees. The truth is, 401k programs and insurance coverage no longer differentiate you from your competitors — they are table stakes. Here’s the reality — we [...]

It’s a bit of a milestone episode here, episode 155. It seems like an odd number to celebrate, but it means this podcast has been going strong for three years now! (52 weeks = 156 episodes) So thanks for listening, whether you’ve been around since the beginning, or this is your first time here! As I speak with agency owners and decision-makers every day about their agencies and their business development efforts (or lack thereof!), we talk about the value of niching their agency. It’s the old brain surgeon versus general practitioner and the relative value proposition of each. Your niches (note the plural) can be industry-specific, a certain methodology or in some limited cases – a specialty (PPC, etc.). But what do you do when you’ve narrowed down the niches you want to serve? That’s what this solocast is all about. How do you actually walk out your talk and live/sell and profit from your niches?   What you’ll learn about in this episode: Why establishing niches for your agency is so important How many niches should an agency have and why? How do you promote your agency’s special sauce/niches and expertise How sweet spot clients intersect with your niches The business development process to sell to your niches Why helping your clients be better at their job is the heart of your biz dev plan What to do with those clients outside your niches that you don’t want to fire Drew McLellan is the CEO at Agency Management Institute. He has also owned and operated his own agency since 1995 and is still actively running the agency today. Drew’s unique vantage point as being both an agency owner and working with [...]

One of the challenges for all of us as agency owners and leaders is finding the balance of creating a relationship with our employees, but also being the leader and helping them recognize their blind spots, areas of growth and when they’ve messed up. This requires the courage to have candid conversations with your team members. It’s never easy or all together comfortable, but to truly be a leader in our agency – this is not an optional skill. I see the avoidance of these conversations when I’m on site with an agency, when I’m on a coaching or and when I’m with a group of owners, talking about their employees. We don’t address behaviors that we know are unacceptable or not up to par. We may joke about it, or hint at it, or even deal with it passive aggressively – but we don’t tackle it head on. We hide behind silence, email exchanges, and even through text messages – all to avoid that face-to-face conversation. I get it — you’re afraid of what your employees’ reaction will be, or what it would do to the agency if they quit. You feel as if you’re between a rock and a hard place. So you tolerate the behavior. You make your staff and clients suffer from the behavior. You risk losing employees and clients rather than addressing it. And worst of all — you greatly diminishing your reputation as a leader because everyone around you is wondering why you’re letting it continue. And quite honestly — they’re wondering why they should follow the rules if others don’t. The skill of having difficult conversations and course correcting your team is vital. And we as [...]

Back in my early days of agency life, there was a production or traffic manager in every agency. Their job was to make sure all of the work was in the pipeline and delivered on time and on budget. Somewhere along the way, as agencies streamlined, that position went away. But now it’s back. And it’s making a huge difference in agencies client retention and profitability. […]

It’s something we all dream about – retirement. Selling our agency for big bucks so we can sip Mai Tai’s on the beach. The agency’s name and reputation carrying on with another generation. […]

When I talk with agency owners, there’s one topic that often comes up in conversation. They say, “I wish my employees would think and act more like owners!” […]

Agencies have an accountability problem and it starts at the top. Every day, as owners and team members we make promises to our team. I’ll get the copy to you by 5.” Or, “I’ll have my part of the RFP done by Tuesday.” […]

For almost two decades, AMI has been conducting an annual salary and benefits survey. The 2019 results are in and they are quite telling. 2018 was clearly a good year to be an agency employee. […]