For many agencies, for most agencies, Biz Dev has really been challenging in 23, and that’s going to continue, I think, for the next several months.
As we go into the summer, and it’s so easy to sort of take our eye off the ball, I want to remind you of three things that you need to be doing right now to make sure that you have opportunities for Biz Dev in the fall and winter.
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Hey everybody, Drew McLellan here from Agency Management Institute coming to you this week for my favorite non Disney City, the Big Apple. You know for many agencies, for most agencies, Biz Dev has really been challenging in 23, and that's going to continue, I think, for the next several months. So, as we go into the summer, and it's so easy to sort of take our eye off the ball, I want to remind you of three things that you need to be doing right now to make sure that you have opportunities for Biz Dev in the fall and winter. Number one, keep planting seeds. Whatever you're doing, creating content, reaching out, attending trade shows, however you are cultivating opportunities, keep it up. This is not the time to let our foot off the gas. We have to keep planting the seeds, knowing they're going to take longer to germinate and come to fruition. But if we want to have a bountiful harvest, we have to keep planting the seeds now, just have faith that it's working. It's just working slower. Number two, make sure you are running the business by the numbers. Do not allow yourself to get upside down because you are not earning as much business as you anticipated or you projected when you were doing projections for the year. Remember, you've got to maintain that 55, 25, 20, or whatever you decide the balance is. Maybe you're content with 10% profit. Some of you have told me you're content just holding your head above water. As long as you stay in the black this year, you're good. Whatever decision you've made, make sure you stay on top of the numbers and make decisions according to those numbers. And number three, we have to cultivate more business from our existing clients. So going out of your way to be super helpful to them and looking for ways to help grow their business that will also grow yours really critical this year. So we are, we just came out of the field with our agency Edge Research for 23, and the question we asked was, how, why and when do you give your current agency more money for more projects? So we're going to be, we're going to be announcing in the newsletter a webinar that we're doing, where we're going to walk you through all of that data so you can see exactly what clients said, prompts them to give us more money. So don't miss that webinar. It's going to be at the end of June and we will get you those dates. But meantime, keep planting seeds, run by the numbers, get more business from your clients. All right? That'll get you through the summer and the fall, and then hopefully things will loosen up a little bit. I'll see you next week.