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Who are you learning from?

Agency people are lifelong learners. If you aren’t — odds are you will be “counseled” out of your role if you don’t own the joint and pushed out of the day to day, if you do. We can’t afford to stop learning in our world. It’s simply changing too quickly and to keep up, we have to make learning a priority. What I love the most about AMI is that in everything we do — you are learning from people who are actively involved in agency life. I’ve owned my shop for 25+ years and am still active there. Craig (who runs our Key Executive networks and the Virtual networks) also still has an agency and has been an owner for 27+ years. But that’s just the tip of the iceberg. The best aspect of AMI is that owners who attend our workshops, network meetings, webinars, etc. — are all both students and teachers. I love how owners are so quick to offer to share resources, forms, best practices, and connections with other owners. That spirit is the best of AMI and of our profession. If you don’t have a posse of other agency owners/leaders — I implore you to find one. If AMI works for you, great. If not, seek it somewhere else. But do not fight the fight alone. Looking for some places to learn from other agency owners/leaders? Build and Nurture your Agency's Sales Funnel— January 21/22 in Orlando on WDW property Running Your Agency for growth, profit & a little sanity — April 6/7 in Chicago Advanced AE Bootcamp –August 17/18 in Chicago AE Bootcamp — September 14/15 in Chicago Money Matters for Agency Owners — Dates TBD We’d love to help [...]

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A bad fit pinches

We have all bought clothes that weren’t quite the right fit. Whether too tight, too big or whatever the issue — they are uncomfortable and when you are wearing that misfit of clothes — you are very aware that something is not quite right. In fact, pretty soon, the pinching, sagging or snugness is all you can focus on. You either bought it without doing your homework (trying it on or moving around in it) or it was so cool/cute/dashing that you ignored the intial discomfort, thinking you could either fix it or get used to it. But we don’t. I think that exact same thing happens with clients. We either ignore the warning signs, think we can fix them or, if we’re honest with ourselves, we want their money and don’t care if the fix is off. You know it when you do it. There’s that nagging voice in the back of your head that you shhh every time it raises a concern. We’ve all done it. If you haven’t done it yet — you haven’t owned your agency very long. I get why we do it. But I also get the price we pay. I have never seen an agency turn that situation into a profitable one. In the short run — sure, you can make some money. But in the long run, you are going to lose money and even worse, potentially lose critically valuable team members. That’s why I wrote the article How to Find New Clients That Fit Your Agency Perfectly for Forbes. I not only believe we don’t have to settle for wrong fit clients but I think we’re fools if we do. Take the time to find the [...]

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Noticing the signs

A couple of years ago, when we were able to be out and about and travel the world, I went on a photo safari vacation to South Africa with my daughter. We spent the better part of a week in the bush, coming face to face with prides of lions, serene giraffe, wild dogs right after a kill, and even some mating leopards! I was fascinated to watch how our rangers and trackers scanned the dirt for tracks, examined the foliage to look for breaks, and even tested the temperature of dung to determine what animals were nearby and how long ago they had come through. The clues were so subtle that it was amazing when they spotted them. But the rewards that came from that attention to minute detail was the difference between an incredible game drive (or survival in different circumstances) and just a lovely drive in the woods. It made me think about our own business and all of the subtle clues that our clients, prospects, and employees give off. I wonder how many of them we blindly walk by, about to enter into a danger zone we’re not expecting? I think most agency owners are very astute at picking up the signs — unless we’re moving too quickly and are too distracted to be present. Which is pretty much every day. So what are we missing? One of the traits of the tracker and ranger that took me some time to get used to was the speed at which they worked. Slowly. Sometimes painstakingly slowly. As a Type A kind of guy, I was pretty antsy in the beginning. But then I began to understand the method to their madness and [...]

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Agency owners — no rest for the weary?

Owning, leading, or even just working in an agency is a fantastic gig. You get to be surrounded by wicked smart, witty, committed teammates, you get to save the day for clients on a regular basis, and let’s face it, the work is fun most days. We are lucky. Damn lucky. But we are also tired. Along with all of those privileges comes the worry of keeping the sales pipeline full, dealing with the human side of your team and clients (which can be both joyful and tragic as we all walk out our lives together), and long, arduous days. (and nights, and weekends....) We work at a pace that is fast and furious, shifting from one client to the next and often working weird and long hours. That is unsustainable without giving yourself some respite. But we’re not so good about giving ourselves that break. It’s not about taking a vacation or a long weekend or just not checking email for 24 hours — it’s about survival. Back when I was a kid in the business (call me 30 or so) I remember one of my mentors saying “this is a young man’s game, Drew. “ And that was before the 24/7 connectivity we have now. I think he was both right and wrong. Our chosen profession does require an incredible amount of energy and passion but that’s not about being young. It’s about recognizing that it’s an endurance sport and we have to train and plan for that. Here’s my challenge to you — when was the last time you didn’t check email for 24 hours? When was the last time you took 5 workdays off (in a row!) and played as hard [...]

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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 [...]

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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 [...]

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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. [...]

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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.

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What’s your zone?

You know those days or that meeting or event where, when it’s over, you think to yourself... “That was so awesome. I love days like today. We totally knocked it out of the park and I feel so energized and pumped. What a great day!” What makes a day that kind of day for you? Are you putting together a new service offering for the agency? Creating a financial dashboard for your leadership team? Tinkering with the code on a new site? Representing your agency by serving on a prominent board? Mentoring some young talent in your shop or are you developing a new brand for a client? Whatever it is, and it’s going to be different for each of you — that’s your zone. That’s the kind of work that fills your bucket and energizes you. And odds are, you don’t get to do it very often. Agency owners have a pretty long list of must-dos. But one of your must-dos should be getting into your zone. Don’t get me wrong — I’m not saying you get to spend all of your days doing client work. There’s plenty of work that only you can do and you have a responsibility to do it. But I do think you need to know what connects you to the business and what makes you fall in love with the business all over again — and be sure you don’t rob yourself of that experience. I’d love it if you’d take some time to identify your own zone. Once you know what it is — figure out how to get a taste of it once or twice a month. Plan for it. Calendar it if you can. Make [...]

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Count your blessings

Being an agency owner is tough in today’s world. Clients and employees are more fickle and demanding, the margins get tighter as you try to keep everyone happy and well cared for, and the learning curve is steep. I get all of that — both from my own reality as an agency owner and from working with 250 or so of you every year. But, on those days when you want to sell your shop for a nickel or as April 15th approaches and you’re writing the IRS a check for their pound of flesh, I want you to slow down and look at your world from a different perspective. First — I want you to remember all of the ways your agency funds your life. I’m a big fan of doing what I call a Total Compensation Report for our employees at the end of every year. This report adds up ALL of the ways your people get compensated from their salary, costs of benefits, time off, perks, etc. Many of your people have no idea how well they are being paid. The truth is the same for you. You think about the money you take home in a paycheck or dividend but you forget about all the other ways your business provides for you. One the tough days, I think it is a very healthy exercise to add up all the ways your agency pays you, from paycheck to travel to cell phone to all the other perks that come with the business. When you see that number (and for most of you, the salary part is one of the smaller components) — it makes the rough days a little easier. But, it’s [...]

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5 Mistakes that cost agency owners money.