Episodi
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Have you ever felt like abandoning your agency? Overwhelmed or insecure about the direction the agency is headed? If so, you're not alone. At some point, we all face moments of doubt and struggle to keep momentum. Todayâs guest is an agency owner who built his business over the past ten years. He recently experienced a downturn that led him to question whether he still enjoyed the work. It was a solid business plan and clear vision that helped him get the agency back on track. Learn more about why he needed clarity and communication to get his confidence back and what excites him about the new developments of generative AI and how itâs changing advertising.
Ed East is the founder of influencer marketing agency Billion Dollar Boy. He shares his journey into the agency world, creating a database connecting blogs with brands and agencies. Ed also discusses the low point that made him question his commitment to the agency, the realization that helped him rebuild his confidence, and the new tech that is already revolutionizing advertising and brand-audience connections.
In this episode, weâll discuss:
How clarity builds new momentum for agency growth.
Leveraging generative AI to elevate the creative process.
How agencies can use creator advertising.
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Sponsors and ResourcesWix: Today's episode of the Smart Agency Masterclass is sponsored by Wix, an intuitive way to design exceptional sites and a smart addition to your agencyâs toolkit. With this flexible tool, your team will be able to take on any project at any scale and focus on the work that matters the most. Check out wixstudio.com and break free from growth bottlenecks.
Turning a College Hobby Into a Legitimate AgencyAlthough heâs an accidental agency owner, Ed was always keen on starting a business which is why he took his first entrepreneurial steps during university. Back then, he started a blog with some friends focused on lifestyle, music, and sports that quickly got up to 50,000 views a month. However, they soon realized that page views alone weren't enough to generate an income.
Luckily, with so many views it was just a matter of time before they started to get offers to promote brands on the blog. This development led to a new idea: building a database where agencies and brands could find the right blogs to place their ads. As they worked on that database, YouTube and Instagram started to surge as a new way to advertise content. This changed the plan a bit; it wouldnât be a database just for blogs but also include social media accounts.
How Clarity Builds New Momentum for Agency GrowthOver the past decade, Ed's journey in the agency world has been a rollercoaster of experiences, teaching him valuable lessons about perseverance and adaptability. Reflecting on his original business plan, he's come to appreciate the importance of balancing a clear vision with the flexibility to navigate unexpected paths.
Interestingly, he has only recently questioned his commitment to the business. Although the thought of giving up has never crossed his mind, Ed did start to question the enjoyment he got from the work he was doing.
The catalyst for this soul-searching was the challenging economic climate, which saw marketing budgets slashed. This has added a lot of pressure to agencies that saw their growth slow down while client expectations rose.
It all took a positive turn once Ed created a well-defined plan and shared it transparently with his team. And even though the agency is not out of the woods yet Ed's renewed sense of purpose and his team's alignment have positioned the agency to face the future with confidence.
When all team members understand the agencyâs overarching goals and their roles in achieving them, they are more likely to feel empowered and energized. This newfound confidence can lead to innovative solutions and a more robust pipeline of opportunities. Ultimately, clarity acts as a catalyst for action. Without it, you wonât be able to build a strategy that youâll follow to success.
Leveraging Generative AI to Elevate the Creative ProcessBeing in influencer marketing, Ed has seen the integration of Generative Artificial Intelligence (Gen AI) emerge as a transformative force. Although very new this use of AI can work very well when done correctly and is reshaping the creative collaboration paradigm. This technology not only streamlines creative processes but also enhances collaboration between brands and creators, leading to innovative and impactful campaigns.
One of the most striking revelations from his experiences is the shift in perception regarding the role of Gen AI in creative campaigns. Traditionally, brands viewed Gen AI as an add-onâa supplementary tool to enhance existing creative strategies. However, Ed sees the response from brands during presentations led by his CMO are markedly different. Brands expressed a desire to leverage Gen AI as a core component of their creative vision, allowing it to drive the lead creative piece of their campaigns. This shift signifies a broader understanding of Gen AI's potential to elevate the creative process rather than merely augment it.
Redefining the Brand-Audience ConnectionThe landscape of advertising is undergoing a profound transformation. Ed believes creator advertising, powered by generative AI, is at the forefront of this revolution. This shift represents more than just a passing trend; it's a fundamental reimagining of how brands connect with their audiences in an increasingly competitive digital marketplace.
Creator advertising places creators at the center of marketing strategies. Traditionally, advertising has been structured around established media channels, such as television and print, where brands dictate the narrative. However, the landscape has shifted dramatically with the rise of social media and digital platforms, where creators wield substantial influence and have cultivated dedicated followings. This shift necessitates a rethinking of how brands engage with their audiences, leading to the adoption of creator-led advertising strategies.
Agencies are now hiring creative strategists and media planners from various backgroundsâespecially those with experience in traditional advertisingâto work alongside influencer marketing teams. This collaborative approach allows for the repurposing of content across multiple channels, extending the reach and impact of creator-driven campaigns. As we look to the future, the evolution of creator advertising is poised to redefine the marketing landscape.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Has your agency reached a growth plateau? Have you thought about narrowing your focus to enhance your marketing efforts? In this interview, you'll hear from an agency owner who relied on referrals for years until the post-pandemic landscape shifted. While his business thrived during the early pandemic, it faced challenges as larger clients began consolidating. In response, he strategically pivoted to specialize in the biotech sector. Tune in to explore his initial hiring challenges, the transformative effects of niching down, and his ongoing refinement of the sales process to secure more clients.
Daniel Lofaso is the owner of Digital Elevator, a marketing agency focused on helping helps emerging biotech companies with full-circle marketing campaigns. He discusses challenges he found in building the right team, the reason he decided to niche down and the impact it has had on his agency, his approach to selling, and more.
In this episode, weâll discuss:
Trading short-term profit for long-term success.
Striking a balance between niche marketing and client diversity.
Is honesty a problem in sales? Being Sales-centric vs. Solution-focused
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Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
From the Skies to the Agency PathThough he earned his pilot's license after college, Daniel realized his heart wasn't in aviation. Instead, a connection with a fellow flight school student who had agency experience sparked a new direction. T together, they launched an SEO agency targeting the legal sector. This was a pioneering move at a time when digital marketing agencies were just beginning to explore the potential of SEO and social media platforms.
Eventually, his entrepreneurial spirit emerged from years of reading his fatherâs business books which led Daniel to venture on his own. It seemed like the logical move for someone who always knew he just wouldnât be happy as somebodyâs employee. However, he admits it was probably too early and needed support from his parents until he could get his footing, but ultimately the early start proved to be a valuable learning experience.
Fourteen years later he has grown his business to a successful agency that made it past the post pandemic struggles and managed to successfully pivot to a new niche.
Trading Short-Term Profit for Long-Term SuccessLike many agency owners, initially struggled with early hesitation to invest in talent due to the immediate financial implications. He was accustomed to a certain income and the prospect of hiring new talent meant a temporary setback in monthly earnings.
However, a realization changed his perspective: scaling wasn't just about acquiring more clientsâit required building a capable team that could deliver exceptional results. Daniel came to understand that strategic investment in talent wasn't merely an expense on the balance sheet, but rather a catalyst for long-term growth and personal freedom. This investment would allow him to step back from day-to-day operations and focus on what truly mattered: strategic planning and nurturing client relationships.
In the end, itâs not just about the money but also about saving time. Agency owners tend to make decisions based on short-term cash flow rather than time, which inevitably leads to burnout and missing important moments with family.
Of course, concerns about maintaining consistent revenue to support employee salaries weighed heavily on his mind. Yet, the decision to invest in human capital ultimately became the defining factor between stagnation and success. By overcoming his initial hesitation and embracing the power of a skilled team, Daniel discovered the key to unlocking his agency's potential. This shift in mindset not only fostered a culture of innovation but paved the way for sustainable growthâproving that sometimes the biggest leaps forward require taking a calculated step back.
Finding the Right Balance Between Niche Marketing & Client DiversityAfter experiencing significant growth during the pandemic, the agency faced a plateau as some big clients were acquired by larger entities post-Covid and no longer required their services.
This setback forced Daniel to pivot and reassess his business strategy, ultimately leading him to specialize in the biotech industry. The agency already had clients in this niche that had historically accounted for a large percentage of their income. This meant they already had experience and the case studies to attract more clients, which made it a great strategic move to redefine the agencyâs positioning.
Nonetheless, Daniel also emphasizes the importance of not limiting oneself strictly to the chosen niche. Fortunately, he got the right advice at the time to maintain relationships with existing clients outside of the primary focus area, an approach that can prevent the pitfalls of overspecialization. Many agency owners mistakenly believe that in order to grow, they must eliminate all clients that fall outside their niche. This, according to Daniel, is a significant misstep. By continuing to serve diverse clients while marketing primarily to a niche, agencies can create a more stable revenue stream and mitigate the risks associated with market fluctuations.
Niching down, he learned, was more about making it easier to market the agency. This way, he would be talking to one buyer persona and spend less on ads, avoiding competition with big agencies with many more resources.
Is Honesty a Problem in Sales? Shifting from Sales-Centric vs. Solution-FocusedAt some point, most agency owners choose to build a well-trained sales team and exit operations. This was the case with Daniel, after an expert reviewed his agencyâs sales process and found Daniel too honest in setting expectations.
However, being transparent and genuine with clients not only fosters trust but also positions the agency as a reliable partner for problem-solving. Clients donât want to be sold to; they seek solutions to their problems. This paradigm shift from a sales-centric approach to a service-oriented mindset is crucial for any successful sales team.
Consumers are weary of insincerity. They are often on guard, anticipating a sales pitch that prioritizes profit over their needs. By contrast, when a salesperson approaches a client with genuine intent to help, it changes the dynamic. Clients feel valued and understood, leading to a more open dialogue.
By openly discussing budget constraints and advising potential clients on what they truly need, you can demonstrate that authenticity can disarm skepticism and create a collaborative atmosphere. This approach not only builds trust but also establishes a foundation for long-term relationships.
The Unchanging Pillars of SuccessDanielâs advice for agency owners is to always look ahead, not just at how things may change some months or years from now, but also at the things that are not going to change.
Clients, regardless of the industry, consistently seek solutions to their problems. They want quick resolutions and cost-effective options. These needs are not fleeting; they are the bedrock of client relationships and the driving force behind business operations. By honing in on these constants, agencies can position themselves as indispensable partners in their clients' journeys, rather than merely service providers chasing after temporary market trends.
Ultimately, success in digital marketing hinges on understanding and meeting the unchanging needs of clients.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Episodi mancanti?
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Are you searching for innovative ways to supercharge your agencyâs lead generation? Whatâs your number one source of leads and how can you scale it? Leveraging partnerships is one of the most effective lead generation strategies for agency owners. This is something todayâs featured guest understands very well, as someone who understands the powerful role a good partner plays in growing an agencyâs business.
His approach goes beyond mere networkingâit's about creating a web of mutually beneficial relationships that naturally drive growth. His success stems from a simple yet powerful principle: help others succeed, and your own success will follow. Discover his philosophy on building relationships before asking for favors and how podcasting can enhance professional development and foster meaningful connections in business.
Jeremy Weisz, is a seasoned podcaster, entrepreneur and the co-founder of Rise25, an agency that helps companies launch and run podcasts profitably. Through his podcast Inspired Insider, Jeremy has been amplifying voices and building bridges for small entrepreneurs for over fifteen years. He talks about his work helping businesses launch and manage their own podcasts and reflects on the incredible guests he's interviewed, including notable figures like the co-founder of Pixar and the founder of Atari, highlighting the invaluable insights gained from these conversations.
In this episode, weâll discuss:
A strategic approach to scaling your agency.
Ensuring mutual benefits and shared values in partnerships.
Building relationships before asking for favors.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesWix: Today's episode of the Smart Agency Masterclass is sponsored by Wix, an intuitive way to design exceptional sites and a smart addition to your agencyâs toolkit. With this flexible tool, your team will be able to take on any project at any scale and focus on the work that matters the most. Check out wixstudio.com and break free from growth bottlenecks.
Leveraging Partnerships for Sustainable Agency GrowthAgency growth often begins with referrals, a crucial element in pushing past the first million in revenue. However, referrals alone aren't scalable and typically have limitations. When Jeremy thought about a way to create a predictable referral pipeline the only logical answer seemed to be partnerships.
Business partnerships are collaborative relationships between two or more entities aimed at achieving mutual benefits. These partnerships can take various forms, including joint ventures, strategic alliances, and referral partnerships. The primary goal is to leverage each partner's strengths to create a synergy that enhances value for all parties involved.
To find your ideal partners, Jeremy recommends building a list of the best companies in your industry who share your audience. Who are those organizations and people that could be great referral partners and how could you give as much as possible to them? After all, the best way to get a referral is to give a referral.
Next, think about how you could help them. It could be referring clients, writing a LinkedIn post recommending their services, hosting them on your podcast, or even commenting and sharing their post on social media. This way, youâll not only be showcasing the partner's expertise but also reinforcing your commitment to supporting their success.
Itâs very important for Jeremy that this referrals are given without expecting something in return. If the company holds the same values as you, theyâll also be givers and return the favor, thus solidifying the relationship.
By forming strategic alliances with other businesses, companies can access new markets, share resources, and amplify their reach and adopting a giving-first approach will help you build strong, lasting partnerships that contribute to their overall success and resilience in the marketplace.
Reciprocity in Partnerships: Ensuring Mutual Benefits and Shared ValuesHow do you know when a partner is not the right fit after a while? The giver mentality is commendable but you should be looking to align with partners who share similar values and are equally committed to the relationship.
If a partner consistently takes without reciprocating, it may be time to reevaluate the partnership. Successful collaboration requires a balance of giving and receiving; thus, businesses must remain vigilant in ensuring that their partnerships are mutually beneficial.
Maybe youâve referred numerous clients to a partner, only to receive little acknowledgment in return. This lack of appreciation can lead to dissatisfaction and, ultimately, the dissolution of partnerships. In contrast, when appreciation is expressed, it fosters goodwill and encourages continued collaboration. A simple thank you can go a long way in reinforcing these connections. Mutual respect and acknowledgment can enhance loyalty and commitment.
Who Are Your Agencyâs Ideal Partners?What is your ideal partner profile? Depending on your needs, it may be associations, publications, conferences, technology, other agencies, or even competitors. For Jeremy, the ideal partner itâs someone serving B2B businesses with a high client-lifetime value. For businesses operating in the B2B sector, focusing on high-value partnerships can be a game-changer, driving growth, enhancing credibility, and creating a sustainable competitive advantage.
At the heart of successful B2B partnerships is the concept of high client lifetime value. Businesses that cater to clients with substantial lifetime values are particularly well-suited for referral partnerships.
One effective strategy for identifying potential partners is to explore industry-specific conferences and associations. These events serve as fertile ground for networking and establishing connections with key players in the industry. For instance, a business targeting dentists could benefit immensely from forming relationships with major dental associations or attending relevant conferences. Such interactions can lead to valuable partnerships that amplify visibility and credibility within the niche.
Build Relationships Before Asking FavorsOnce you've compiled your list of ideal partners and identified where to find them, the next step is to initiate relationship-building. The key is to start by "making deposits" before expecting anything in return.
What does this mean? When reaching out to potential partners, always do so from a place of wanting to help rather than seeking out what they can do for you. By offering assistance, insights, or resources without an immediate ask, you will build trust and rapport. This strategy significantly increases the likelihood that partners will reciprocate in the future.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Do you need guidance in your agency journey? Could a coach be the game changer your agency needs? Maybe so, but maybe not. Many agency owners naturally turn to a coach for support and growth advice. And, while coaches excel at addressing specific challenges, their impact often plateaus after a few months due to the inherent limitations of single-perspective coaching.
Todayâs featured guest is our scale specialist who has closely observed the growth trajectories of numerous mastermind members. Through his unique vantage point, he's witnessed how the most valuable exchanges often occur organically â outside of scheduled meetings â when members freely share experiences and insights. These connections flourish during in-person events, where authentic relationships take root.
He sees the way these relationships foster trust and create a dynamic environment for growth that transcends what any single âbusiness coachâ provides.
As Agency Scale Specialist on our team, Darby Copenhaver regularly meets with all our members and connects with them at our in-person events. He sees just how much those events make a difference in the ways which members engages with the community. The live events foster the community element so each member receives guidance and advice for their particular challenges while also having fun and connecting with peers in a way they wouldnât if stuck in a conference room all day. This conversation highlights the difference between what agency owners think they need and the actual support they might benefit from.
In this episode, weâll discuss:
The limitations of 1:1 coaching for agency growth.
3 benefits of an agency owner community.
The power of in-person connection for professional growth.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
Why Coaching Alone Isn't Enough to Scale Your AgencyOne of the challenges of scaling past a certain point is the vision you need to get there often necessitates some outside help. At this point, most agency owners figure they need a âcoachâ to get them to the next stage of growth.
This is undoubtedly the right approach for many people. However, while coaching can provide valuable insights and strategies, there are inherent limitations that come with relying solely on individual coaches. As many agency owners find out, coaching has a finite perspective. Despite the expertise and experience of a coach, their ability to offer solutions is ultimately constrained by their unique viewpoint.
Darby and Jason agree, coaching has a very important role in addressing specific business challenges. Coaches bring a wealth of experience and knowledge instrumental in helping agency owners navigate obstacles. A coach can provide tailored strategies, accountability, and a sounding board for ideas, â all incredibly beneficial, especially for those who are just starting or facing particular hurdles.
Each coach has their own set of experiences, beliefs, and methodologies that inform their approach. While this individuality can lead to innovative solutions, it also means that the coach's insights are inherently limited to their own understanding of the industry and the challenges faced by agency owners.
In light of these limitations, Darby advises agency owners to seek a more diversified array of resources and perspectives. Relying solely on a single coach creates an echo chamber, where ideas and strategies become repetitive and lack the innovation necessary for sustained growth. Instead, they should consider leveraging a combination of coaching, peer support, and community engagement.
3 Main Benefits of an Agency Owner CommunityAgency owners are always navigating an industry that is both highly competitive and ever-evolving. Often this leads to them feeling isolated in their role as the leaders who set the vision and direction for the agency. In this sense, few things make as much difference as connection among peers to foster a sense of belonging and understanding.
Community: When agency owners come togetherâwhether at events, workshops, or informal gatheringsâthey create a community that transcends individual experiences. This connection aspect is vital as it allows members to share their stories, challenges, and triumphs, support one another and encourage vulnerability and authenticity. This open exchange of experiences cultivates an environment where each owner feels heard and valued, setting the stage for deeper insights and learning.
Clarity: A natural byproduct of these connections is clarity. When agency owners engage with one another, they can step back from their daily grind and gain fresh perspectives on their challenges. This clarity is not merely about understanding their business metrics; it encompasses a broader awareness of their goals, values, and the strategies needed to achieve them.
Confidence: Along with clarity and insights from community, owners gain a sense of purpose and a plan. While plans may not be foolproof, having a frameworkâshaped by collective wisdomâsignificantly increases the likelihood of success: Simply put, camaraderie can embolden individuals to take risks, experiment with new ideas, and ultimately pursue their unique definitions of success.
The Power of In-Person Connection in Professional GrowthThe importance of in-person connections cannot be overstated. While technology has enabled us to connect with others across vast distances, it is in-person experiences that often lead to deeper bonds and a sense of community, as mastermind members have been able to see during our annual events.
In a mastermind setting, such as Agency Mastery, monthly virtual meetings offer valuable insights through structured calls focused on topics relevant to all members. However, Darby sees the most meaningful connections emerge outside the formal meetings, when members take their conversations offline and share personal stories. These initial bonds then strengthen significantly during our in-person events.
Members consistently highlight the relationship-building aspects of these face-to-face gatherings are what they value most. These events provide a unique space for personalized feedback and collaborative growth among successful agency owners. Rather than being confined to conference rooms, the Agency Mastery team incorporate engaging activities like horseback riding, allowing members to connect authentically while enjoying themselves away from the usual distractions of phones, clients, and daily business challenges.
The success of these events largely stems from our careful approach to group composition. By maintaining small, exclusive groups and setting high standards for both business achievement and cultural fit, Jason and team have created a tight-knit community of professionals who genuinely support each other's growth and success.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Do you feel along or isolated in your agency leadership journey? Wonder how it feels to have people who âget youâ and understand the unique challenges of owning an agency? Todayâs featured guest faced numerous insecurities and challenges on her growth journey. Ultimately, the pivotal moment came when she joined a peer community, which encouraged her to adopt a new mindset and explore various solutions and strategies. Discover her unexpected journey into entrepreneurship and how the support of her peer community empowered her to confidently remove misaligned talent and pursue strategic partnerships, alleviating the burdens of ownership.
Andi Graham is the CEO and founder of Big Sea, a marketing agency that began its journey as a web development firm in 2005. She shares her unique educational background, her interest in the intersection of communication and behavior change, and discusses her self-taught journey into graphic design and how realizing her vision was bigger than her skills paved the way for starting to build a team and eventually starting an agency.
In this episode, weâll discuss:
The role of community in embracing a different approach to agency challenges.
Learning the importance of due diligence in an agency merger.
Lessons on the high price of misaligned talent.
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Sponsors and ResourcesJoin us in Feb 2025 to ELEVATE YOUR AGENCY! You donât know what you donât know. But you can learn a ton and get connected with a small group of like-minded agency owners plus me and some game-changing speakers at our exclusive event. Weâre meeting in Phoenix, AZ for two days of transformative insights where you'll make meaningful connections with top-tier leaders, master inbound and outbound strategies, and elevate your agency to achieve 10x growth. Check out ElevateMyAgency.com and grab your spot!
Accidental Agency Owners: Embraces Your Strengths and Delegate WeaknessesAlthough Andi graduated with a bachelor's degree in Sociology, her true passion was advertising and understanding the connection between communication and behavior change. She also taught herself design and had fun creating menus for the pizza shop where she was working at the time.
Later on, in her first professional role, she got to dive into other marketing activities like starting the companyâs first email newsletter. To enhance her skills, she learned coding to implement more visual modifications than the newsletter platform could offer. Eventually, she started building websites and taking freelance clients and realized she had built something more lucrative than her full-time job.
When the time came to intentionally start growing her business, Andi knew her strengths are copywriting and project organization but lacked in design and web development skills. It was time to start hiring people with expertise in these areas to improve the quality of her services. She recognized she was more of a jack of all trades but lacked the patience to get really good in a particular area. It was the right combination of skills to become a business owner, as running a business requires learning a little bit about every part of the business.
The Importance of Community in Agency LeadershipOne of the most significant challenges Andi faced while launching her own business was the struggle to balance financial realities with her desire to cultivate a positive workplace culture. Yes, she wanted her team to have fun and like her but she also needed to run a profitable business.
However, finding a community of peers who understood the unique difficulties of agency ownership proved to be a game-changer for her. She quickly learned that, although her peers faced the same challenges, they were approaching them with a different mindset. This highlighted the importance of perspective in business and the need for a supportive community that encourages open dialogue and shared learning.
This camaraderie was not just about commiserating over shared challenges; it became a platform for exchanging solutions and strategies and helped Andi appreciate the value of having a âtribeâ who not only validate your experiences but also inspire you to adopt new approaches to your work.
The Significance of Due Diligence in an Agency MergerBy 2016, Andi found herself feeling overwhelmed by the demands of running her agency alone and yearned for more quality time with her daughter. She had connected with various agency owners, which enabled her to build relationships with peers whose skills complemented her own. This collaboration led to a partnership that resonated with both her personal and professional goals.
Each partner brought unique strengths to the table, whether in sales, operations, technology, or marketing and creative projects. This division of labor allowed everyone to concentrate on their passions, ultimately enhancing job satisfaction and productivity.
However, the journey was not without its challenges and Andi regrets not conducting thorough due diligence on her partners prior to the merger. As a result, she encountered unexpected friction due to undisclosed ownership stakes that created tension in decision-making processes. Fortunately, there was a positive outcome, with a successful buyout of the problematic partner handled with care and mutual respect.
Collaborative partnerships are not merely transactional; they are rooted in shared values, trust, and open communication. As Andi learned, prioritizing alignment in partnerships is essential for fostering a healthy, productive, and fulfilling business environment.
Lessons on the Hidden Cost of Misaligned TalentAnother significant challenge Andi encountered was the difficulty small agencies face in attracting and retaining talent that not only possesses the necessary skills but also aligns with the team's dynamics and values.
At one point, she struggled to let go of a highly skilled developer whose negative attitude was detrimental to the work environment. This is a common pitfall for agency owners who often become overly reliant on individuals with specialized skills, overlooking the importance of interpersonal dynamics and team cohesion. Recognizing that technical expertise does not automatically translate to a good cultural fit is a vital lesson for leaders.
Ultimately, Andi faced several situations that taught her the importance of recognizing early signs of misalignment and getting over the fear of disruption and the perceived challenge of replacing a key player can lead to prolonged periods of dissatisfaction within the team. She is now much more confident in her teamâs potential for resilience and adaptability in the face of personnel changes.
Embracing the Long Game in Agency GrowthHaving run her agency for almost twenty years, Andi has learned the value of patience as it become clear that success is not merely a product of quick actions or rapid changes, but rather the result of sustained effort and the ability to endure challenges over time.
Although agency owners are usually fast-movers and very action-oriented, her recent agency rebrand has taught her the importance of building momentum through consistent actions and understanding that the efforts put forth today will yield results in the future, sometimes months or even years later. This long-term perspective is essential for entrepreneurs who may feel disheartened by the slow pace of progress.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Have you ever questioned your effectiveness as a leader? What steps have you taken to enhance your leadership skills and empower your team to independently address challenges? Todayâs featured guest experienced significant growth and had to learn to evolve her leadership skills. She has grown a team of now 110 people and built a business that can run without her, all while maintaining the necessary work-life balance. Hear how she went from executive assistant to paving her way as an agency owner in an unconventional niche.
Lauren Von is the founder and CEO of Quintessa Marketing, a unique agency that connects individuals who have been injured in accidents with personal injury lawyers. She shares her unexpected journey into the world of personal injury law, starting as an executive assistant and evolving into a pivotal role in sales and SEO for a company serving lawyers. She discusses the challenges and insights she gained while working closely with legal professionals and how these experiences laid the groundwork for launching her own business.
In this episode, weâll discuss:
Hiring for cultural fit.
Becoming the type of leader you wish youâd had.
Team empowerment - building confidence.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
How Corporate Experience Can Shape Agency SuccessWorking with personal injury lawyers wasnât exactly Laurenâs dream. She started as an executive assistant working in sales for AT&T, where her skills quickly shone through. One day, she successfully persuaded a hesitant customer to retain his phone instead of returning it, leaving such a lasting impression that he invited her to join his team.
Transitioning into the realm of personal injury law, Lauren honed her sales abilities over six years, ultimately spearheading the development of the companyâs SEO division. Her proactive approach led to a significant increase in sales, transforming SEO into a cornerstone of the business. After gaining valuable agency experience, Lauren returned to Oklahoma as a new mother, figuring it was the perfect moment to start her own business.
She credits her time as an executive assistant and her gradual ascent within the company for equipping her with the insights necessary to run her own business. If somethingâs going wrong in the business, sheâs probably seen it happen before at her previous workplace so she appreciates the experience that made her a better owner when the time came.
Scaling Without a Roadmap: A Key to Agency ExpansionOne aspect of ownership that presented the biggest learning curve for Lauren was bringing on outside leadership to help scale and grow her business. Since she built her agency on a relatively new niche, she couldnât just go to a competitor and pluck out their leadership. There was no blueprint so she needed to figure it out.
There was also a constant battle between allowing her team to make mistakes and giving them time to learn while running a profitable business.
Ultimately, Lauren needed to acknowledge the need to ask for help. No leader has all the answers and a key element of getting beyond a certain point in your growth will be accepting that and having the humility to seek guidance and advice from others.
Aligning Values: Hiring for Agency Culture FitLaurenâs hiring strategy relies on hiring individuals who align with her agencyâs values. To this effect, she clearly defines her core values and conducts survey assessments that explore candidates' innate characteristics.
These assessments provide insights into candidates' personalities and their suitability for specific roles, particularly in a sales context. For instance, a potential hire might have all the best traits to fill a position, but if they donât care about the companyâs philanthropic values their motivations will not resonate with the agency's mission. This nuanced understanding of individual capabilities allows Lauren to make informed hiring decisions that prioritize long-term success over immediate financial gain.
Becoming the Type of Leader You Wish Youâd HadLauren has felt like a bad leader many times during the agency's growth process, but she never stopped striving for improvement. As the business grew, she instated an open-door policy to encourage employees to have open communication with her and the leadership team and make herself more approachable.
As she tried to become the type of leader sheâd wanted to have in the past, she realized that she needed to be a different leader for each worker. For instance, she believes the way she leads her accounting team should be different than how she leads her sales team. In this sense, she strives to really understand them to be able to inspire and lead them naturally.
Nowadays, Lauren is proud to say her company continues to thrive and grow, even when she is not physically present. This autonomy is crucial; it demonstrates that the organization is not solely reliant on the founder for direction. Instead, it cultivates a sense of resilience and adaptability, allowing teams to navigate challenges effectively. With this, her role has now evolved to be someone who removes obstacles, solves problems, is a subject-matter expert, and leads their philanthropy mission by investing in the community.
Team Empowerment: Building Confidence for Problem-SolvingWith her team now equipped to address 99% of potential issues in her absence, Lauren is now able to enjoy more time with her family, promote the agency brand on podcasts, and meet clients in person.
For agency owners who have yet to reach this level of operational autonomy but aspire to empower their teams, it's essential to train them in a way that encourages independent problem-solving. This is something you can achieve using the one-three-one approach. Instead of coming to you with a problem and expecting you to provide a solution, have them already come up with three possible solutions of how they would personally solve this problem and why, and ask them which of these three solutions they would recommend. Eventually, theyâll stop coming to you because they have internalized that they are capable of coming up with an effective approach.
Although agency owners usually dream of accomplishing this level of agency autonomy, it can be hard to adapt to not being needed anymore. In these cases, agency owners should remember that they donât have to let go of the part of the business they truly love doing. If you love being a part of a clientâs first call then continue to do that. You donât have to be part of the entire process. Just stick to the part of the business you truly enjoy and where you can have the biggest impact.
The two-week audit. The easiest way to figure out what you truly want to continue doing in the agency and what you want to delegate is to do a two-week audit. Take a screenshot of the past two weeks in your calendar and highlight each activity in either red â for the activities that drain you, or green â for the ones you truly enjoy. If you do this while being truly honest with yourself, you can start building the business around you.
Mastering the Art of Balance and Reclaiming Your TimeAs a mom of five and an entrepreneur, Lauren manages to balance her personal and professional lives by having clarity and alignment. Together with her husband, she establishes clear goals and daily priorities, which allows them to effectively share responsibilities. She is intentional about her time at home, implementing boundaries that enable her to fully engage in family moments.
This principle extends to her business as well. When entrepreneurs and their teams engage in work that aligns with their core values, they tend to feel more energized and motivated. Such alignment not only boosts productivity but also cultivates a sense of purpose within the organization.
By figuring out how much time you need to focus on your agency to feel fulfilled yet have enough energy to dedicate to your family life, youâll be able to have the proverbial âbalanceâ entrepreneurial life promises and experience the luxury of buying back your time.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Would you like to remove yourself from the day-to-day agency operations? Do you have an effective hiring process to attract top talent for agency roles? In todayâs discussion, our featured guest explains how failing to secure the best candidates often stems from a poorly designed hiring process, starting with the job advertisement. She shares essential strategies for crafting an engaging job ad, fostering self-managing teams, and identifying the qualities of an outstanding operations manager. Join us to discover how to effectively find, hire, and train the right operations professional to elevate your agency.
Mandi Ellefson is the founder of Hands Off CEO, a company dedicated to helping busy CEOs drive sustainable growth without sacrificing their lifestyle and family. Mandi shares her journey of building a business that allows for true freedom, discusses the importance of creating an effective hiring funnel to attract the right talent, and provides insights on and crafting job ads that resonate with top candidates. Learn how to effectively delegate responsibilities and build a business that supports your lifestyle.
In this episode, weâll discuss:
The importance of a compelling job ad.
Cultivating self-managing employees from day one.
Key traits of an exceptional ops manager.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesJoin us in Feb 2025 to ELEVATE YOUR AGENCY! You donât know what you donât know. But you can learn a ton and get connected with a small group of like-minded agency owners plus me and some game-changing speakers at our exclusive event. Weâre meeting in Phoenix, AZ for two days of transformative insights where you'll make meaningful connections with top-tier leaders, master inbound and outbound strategies, and elevate your agency to achieve 10x growth. Check out ElevateMyAgency.com and grab your spot!
Hiring and Training for Success: Build an Agency That Thrives Without YouMandi started Hands Off twelve years ago when she ran into a big problem as she was about to take maternity leave: her business could not run or grow without her. Her search for a solution led her to accidentally start a consulting company to prevent other business owners from getting to the stressful point she found herself in years ago.
Most agency owners are not hands-off and canât even say they own their agency, more like it owns them. This is why they need strategic hiring practices and methodologies to ensure they recruit individuals who can truly add value to their operations.
The crux of the hiring process lies in identifying candidates who not only possess the requisite skills but also align with the companyâs culture and vision. For Mandi, this all hinges on putting together the right hiring funnel, which starts with the right ad that outlines the responsibilities of the role and highlights what makes the agency an attractive workplace.
An ineffective hiring funnel usually leads to:
Hiring a person that is well below the level you need.
Not knowing how to effectively train this person you hire.
Even if you do find someone who is the right fit for the job and your agency, they could end up failing without the right structure to learn how to operate your business.
The Importance of Compelling Job Ad to Attract the Right CandidatesTo create a well-structured hiring process start with a compelling job ad that clearly outlines the responsibilities for the role and resonates with potential candidates. A great ad emphasizes the company culture, growth opportunities, and the impact they can have within the organization.
A strong ad serves as the first filter, ensuring only those who are genuinely interested in the position apply. Add small âmousetrapsâ, like asking them to email you with a specific subject or with the CV attached, and watch as many of the candidates get themselves out of the race just by not following directions.
In terms of experience, Mandi recommends looking for people who not only have relevant operational experience but also possess the ability to adapt and grow within the role. This includes assessing their problem-solving skills, their capacity to manage teams, and their understanding of the agency's specific goals and challenges.
Additionally, Mandi recommends assigning candidates a detailed project plan. This exercise allows them to demonstrate their proficiency with project management software and their grasp of the complexities involved in juggling multiple tasks. By engaging candidates in practical assessments, agency owners can effectively distinguish between those who may be skilled at talking the talk but cannot walk the walk. This method of assessment is crucial for identifying genuine talent and reducing the risk of hiring individuals who may not deliver on their promises.
Finally, itâs normal to find a failure point during the hiring process. It doesnât necessarily have to be a deal breaker but something that concerns you enough to be unsure about the hire. It could be that theyâre too shy or a people-pleaser. If you encounter this type of risk, assess it and find out if it can be retrained.
Cultivating Self-Managing Employees from Day OneOnce the right candidates are onboarded, it is crucial to establish a structured training plan that reinforces their proactive engagement in their roles. Mandi advocates for empowering operations managers to create week-by-week plans that outline their responsibilities and milestones. This approach not only fosters accountability but also encourages managers to take ownership of their projects. Agency owners play a supportive role by regularly checking in on progress, asking questions, and providing assistance as needed.
Agency leaders need to shift from a traditional management style to a more empowering approach where they recognize their role is not to micromanage but to create an environment where team members can thrive independently. You want them to be self-managing. This perspective is crucial; when team members are given the autonomy to take ownership of their work, they become more engaged, motivated, and accountable. Empowering individuals to manage their own tasks not only alleviates the burden on leaders but also cultivates a culture of trust and collaboration.
Eventually, the implementation of key pieces, such as client health scoring, project management, and communication protocols serve as critical tools to exit the agency owner out of account management and operations management and ultimately have a right-hand employee who will be in charge of driving growth.
Key Traits of an Exceptional Ops ManagerWhen it comes to hiring the right Operations Manager youâll need to be handing off control to someone with a keen eye for detail, who is assertive, and can question decisions.
Impeccable attention to detail and follow-through is not merely a desirable trait; it is essential for ensuring that tasks are completed accurately and efficiently and serves as the foundation for operational excellence.
Additionally, this person is different from the typical Visionary/ CEO. Essentially, they adopt a more structured and perhaps serious approach, which is perfectly acceptable since ops managers operate in a very different way than a CEO does. Just make sure thereâs good chemistry with this person and that they are not only skilled but also proactive in seeking efficiencies and cost savings.
This mindset is crucial in an operations role, where the ability to identify and eliminate waste can significantly impact the bottom line. However, the focus should not solely be on minor cost savings; rather, it should be about understanding where the greatest impact can be made.
Delegating Results, Not ProcessesEntrepreneurs often fall into the trap of trying to dictate how tasks should be accomplished, which can stifle creativity and initiative. Instead, a true leader should clearly articulate their desired outcomesâsuch as improved profitability or streamlined operationsâand empower their teams to devise the methods for achieving these goals. This shift in mindset allows team members to take ownership of their work, fostering a sense of responsibility and encouraging innovative problem-solving.
When your operations staff is empowered to take the lead in optimizing systems and processes, youâll be able to redirect your energy toward strategic initiatives, such as sales and market expansion. This delegation not only enhances productivity but also maximizes the return on investment for your business.
First and foremost, effective leadership in operations starts with providing a clear strategic direction. CEOs must articulate the organization's vision and objectives to their operations leaders instead of merely assigning tasks and expecting results. This clarity allows operations leaders to align their efforts with the broader goals of the organization.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Do you use storytelling to connect with prospects and clients? Many agency owners know how to share great stories but use them to talk about their agency capabilities. Instead, todayâs guest says we should use stories to connect with potential clients, creating content that resonates and engages them. Todayâs featured guest is a creator of powerful brand stories who helps his clients understand the value of starting with a strong story framework. He believes clarity beats creativity when it comes to standing out in todayâs market. Tune in to learn about his transition from agency life to consulting, teaching, and speaking on the power of story.
Park Howell is an EMMY award-winning business storytelling coach at The Business of Story. He is also a story strategist, keynote speaker, and podcaster known as the world's most industrious storyteller. He started as an agency guy, founding his agency Park & Co. in 1995, and then the digital era compelled him to transition to storytelling and the creative arts.
He discusses the valuable lessons learned while working with small and midsize agencies and how his unique background and insights into the power of story have shaped his career and approach to creativity.
In this interview, weâll discuss:
How clarity beats creativity in todayâs marketing.
The ABT Framework.
Selling to emotion, not logic.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
Embracing Storytelling in a Noisy Digital WorldPark always knew he wanted to use creativity to make a living and advertising seemed like the perfect vehicle to access what he calls the commerce of arts. After studying music theory and communications at Washington State University, he worked for several small and mid-size agencies in different roles including writer, account executive, media planner, and more.
At the time, he believed that the key to financial success was working for the big agencies. However, in hindsight, it was working at these smaller agencies and learning from so many sides of the business that gave him the experience he needed to launch his own agency in 1995.
Park opened a traditional advertising agency, which is what he knew, and found himself at a loss once the digital era kicked in and changed everything. The traditional way was no longer working and Park started to look for ways to communicate in the new, noisy, digital world where the masses were becoming the media.
His search for effective communication strategies led him to delve into the principles of storytelling, as taught in film schools. He discovered that Hollywood had mastered the art of engaging audiences in ways that traditional advertising had not. Seeing the power of storytelling, he realized very few people knew how to use these proven frameworks and started teaching his clients how to master this skill.
As his clients experienced success, new opportunities arose, including a teaching position in storytelling at the University of Arizona. Over time, Park realized that he had evolved beyond his identity as an 'ad guy' and was embarking on a new journey as a teacher and coach.
Clarity Beats Creativity in Todayâs MarketingMost agencies never really get storytelling and stick to exposing their audiences to death. According to Park, the emphasis on creativity in advertising no longer suffices now that it is not as exclusive as it used to be. Nowadays, creativity has become democratized as users create hysterical and clever memes all the time, which makes it harder for agencies to stand out on creativity.
Instead, clarity has taken precedence, offering a more effective means of connecting with audiences. If youâre not using the proper frameworks in communication then youâre not creating the clarity to stand out and really move the needle.
Clarity in storytelling means distilling complex ideas into digestible and relatable narratives. Every sale is a fictional story you get the client to buy into and then are expected to deliver on. Many agencies claim to be great storytellers, yet they often overwhelm their audiences resorting to an endless stream of exposition, failing to create a meaningful connection.
Park advocates for the use of narrative frameworks that enhance clarity. Personally, he prefers to use the "and, but, therefore" structure, which helps simplify storytelling process and ensure that the message resonates with the audience.
What is the ABT Framework?And - a statement of agreement, the setup or act one of any message. This statement of agreement should be written from the audienceâs point of view and demonstrate you understand them and appreciate what they want.
But - after establishing agreement, the narrative must introduce a conflict or problem knows as the âbutâ. This element serves as a plot twist that captures attention and resonates with the audience's frustrations and challenges.
Therefore - this presents a solution or a vision for what life could look like if the audience addresses the identified problem. This part of the narrative not only inspires hope but also encourages action, whether that means purchasing a product or engaging with a service.
Many brands fail to connect with their audiences because they focus too heavily on their own narratives and offerings, rather than positioning their messages from the audience's perspective. By shifting the focus to the audience and employing the ABT framework, brands can create narratives that resonate on a personal level, fostering a sense of connection and loyalty.
Simplifying Storytelling for Maximum ImpactPark believes people often fall into the trap of selling to logic when instead they should be selling to emotions. Consumers often make purchase decisions driven by emotion, so appeal to that first and foremost and then justify the purchase using logic and reason.
To create compelling narratives that resonate on an emotional level, ask yourself:
1. What does the client want?
2. What do they want to avoid?
3. Why should they listen to you?
For instance, rather than starting with a statement about the brand's greatness, the narrative should begin with the audience's needs and challenges. Agencies like Venable Bells Partners and companies like Patagonia and Nike exemplify using storytelling to highlight customersâ pain points and highlight an experience or an outcome instead of a product to great success.The truth is people mostly donât care about your agency or your offering. They care about whatâs in it for them, which should serve as a wake-up call for marketers who may be overly invested in their own narratives. While there is certainly a place for showcasing your expertise and credentials, framing the conversation around your audience's desires and challenges will foster a more engaging and relatable message.
Good Problems vs. Bad Problems: Redefining Agency FocusHaving recently read The Subtle Art of Not Giving a Fuck by Mark Manson, the main takeaway for Park and what he advises agency owners to do is to look at life as a series of problems and focus on the "good problems" while minimizing or eliminating the "bad problems." This distinction is crucial for agency owners and professionals seeking to thrive in their respective fields.
To effectively get the bad problems out of your life takes real focus on what you do, what youâre good on, and what you like to do. Bad problems arise when youâre not focused, have clarity and try to be too many things at once, which likely leads to burnout. On the contrary, when youâre solving good problems aligned with your agency's strengths and market niche youâll feel a sense of flow and the work becomes not just a job, but a fulfilling endeavor.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Are you currently utilizing AI or fear it will replace digital agencies? Most agency owners fall into one of these two categories. However, those open to exploring this technology's potential and maintaining a sense of curiosity will lead the way in innovation. Todayâs featured guest lost some clients who opted for in-house ChatGPT services over his agency's offering.
Instead of staying fearful of losing all his clients to this technology, he was prompted to explore how AI could be leveraged to enhance his services. Through experimentation, he created what has become a very effective foot-in-the-door to showcase good results with very little investment. Tune in to discover valuable lessons about creativity, collaboration, and the evolution of marketing strategies.
Abraham Bree is the founder of Brand:Whatever, a full-scale, small-sized branding agency based in Brooklyn, New York. With over 15 years of experience in the marketing, branding, and advertising landscape, Abraham shares insights into his journey from traditional ad agencies to becoming an agency owner.
He discusses the creative processes learned in the agency world and highlights the challenges of navigating interactions outside the creative bubble, particularly with non-creative roles like accounting.
In this episode, weâll discuss:
Why success in marketing requires more than creativity.
Creating value-add AI-powered solutions.
Leveraging relationships to sell your high-impact low-budget solution.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesJoin us in Feb 2025 to ELEVATE YOUR AGENCY! You donât know what you donât know. But you can learn a ton and get connected with a small group of like-minded agency owners plus me and some game-changing speakers at our exclusive event. Weâre meeting in Phoenix, AZ for two days of transformative insights where you'll make meaningful connections with top-tier leaders, master inbound and outbound strategies, and elevate your agency to achieve 10x growth. Check out ElevateMyAgency.com and grab your spot!
Forging Agency Leadership Through Diverse RolesAlthough owning an agency was not originally part of Abraham's career plan, he began his journey in advertising, dedicating eight years to traditional ad agencies where he refined his creative abilities. However, he soon discovered true success in marketing requires more than just creativity. It demands understanding of how to work with diverse teams and navigate corporate structures. In his view, creatives operate in a bubble without ever interacting with people outside the client who have different ideas and opinions.
This realization came as he transitioned from the creative agency life to a corporate role as a marketing director. In this role, Abraham not only had to deal with his creative team but also the accounting, sales, and HR departments. This experience taught him the importance of cross-departmental collaboration, as he strived to align everyone with his vision while allowing them the autonomy to pursue their own initiatives.
Following this successful transition, Abraham continued to ascend the corporate ladder, seemingly reaching the pinnacle of his career until the onset of the pandemic. The ensuing uncertainty around the lockdowns and the impact Covid would have on different companies ultimately affected his standing. His new employer could no longer sustain his role as Chief Marketing Officer and he was offered to continue as a consultant. It was the pivot he needed to launch his own agency.
Turning AI Anxiety into an Agency AdvantageBy now, companies are either embracing the use of AI or fearing it. Abraham had chosen to embrace it, even before a client dropped his agency and brought their content creation in-house using Chat GPT. He had been toying with ChatGPT himself, but now felt worried he was starting to lose clients to this innovation. How could he use AI to sell more marketing campaigns?
Abraham understood that effective marketing is not just about promoting a product or service; it is fundamentally about solving problems for clients. He decided he could use this technology to help people with their pain points and create innovative solutions that added value.
In his first venture using AI in this way, Abraham created an app designed to assist families in planning their Passover vacations. This not only addressed the immediate concern of families looking for vacation ideas but also opened up avenues for marketing partnerships with kosher food companies. It effectively addressed consumer needs while presenting these businesses with an opportunity for direct engagement with clients, offering more value than a traditional print ad campaign.
The app attracted over 40,000 users in a one-week span. Although the number of users dropped after the first week, but it was still a success for a high-impact low-budget campaign made with AI. By leveraging AI to solve pain points, Abraham was able to enhance strategies, foster meaningful connections with clients, and ultimately drive impactful results.
Creating Value-Add Using AI for Agency ClientsOne of his best strategies with this project was coming to companies with an idea they could easily adopt. To gain support for this initiative, he targeted existing relationships, leveraging connections he had nurtured over the years and asking for just five minutes to explain his project.
Companies quickly recognized the potential to get in front of clients with little cost and signed on. Abraham then utilized this platform again on several similar projects and continued to drive results with these short and impactful campaigns.
These projects offer an excellent chance to demonstrate value to potential clients without the need for substantial retainers. This way, Abraham was able to generate buzz while also establishing a foundation for ongoing relationships.
For agency owners who want to try this approach to AI, Abraham recommends using it as a tool. Donât go and try to build your own language model and become the next Open AI. Instead, focus on the many ancillary services you can bring to the table using AI. Figure out how you slice off a piece of your current offering and use it as a foot-in-the-door â that is where youâll find your goldmine.
Overall, Abrahamâs advice to agency owners is to stay curious, a good guiding principle for anyone aspiring to grow in their field. The moment you think you have figured everything out is the moment youâll cease to progress. Let your curiosity fuel innovation, push you to explore new ideas, and seek out diverse perspectives, and youâll ultimately discover new avenues for success.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
How can you grow your agencyâs client list beyond referral clients? Would you sacrifice price or length of contracts in order to attract new business? Todayâs featured guest has successfully established his agency by prioritizing higher prices and maintaining a clear vision of his offerings. He emphasizes the importance of being selective with the opportunities that arise. He shares the challenges and strategies involved in growing his agency, as well as how he prioritized long-term relationships over new business.
Seth Odell is the founder and CEO of Kanahoma, a performance marketing agency specializing in the education sector. With over 15 years of experience in marketing and education, Seth shares his journey from being a chief marketing officer at a university to launching his own agency during the pandemic.
He discusses the pivotal moment when UCLA became his first client, propelling him to leap into entrepreneurship and the strategies he used to secure more clients and start managing the agencyâs growth.
In this episode, weâll discuss:
Getting your agency on its feet with a clear strategy from day one.
Tactics for landing long-term contracts and increasing client retention.
Getting the agency owner out of sales.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
When CMO Isn't the Final DestinationSeth had dedicated fifteen years to marketing in the education industry before starting his agency, working in-house in roles like Chief Marketing Officer at a university system in San Diego.
Initially, becoming a CMO seemed like the pinnacle of his career. However, after achieving this position, he realized he could keep pushing himself and decided to take the leap into entrepreneurship.
Sethâs first client at his agency was UCLA, an amazing opportunity for a starter agency and a great chance to launch his business to success. It was a consulting agreement that covered Sethâs salary, his mortgage, and most of his expenses.
3 Strategies for Long-Term Agency GrowthBuild Relationships
After landing UCLA as his first client, Seth formed a plan to send personalized letters and small gifts to fifty industry contacts who had influenced his career over the past 15 years. It was a sincere acknowledgment of the relationships he had built throughout his career and a good way to announce his new venture.
This tactic had a tremendous impact and his agency secured two additional clients through referrals generated by this strategy. It led to immediate business opportunities and also laid the groundwork for long-term relationships.Strategic Hiring
Seth was also very intentional about his service offering right from the get-go, being very selective with the opportunities he pursued, and handling things himself whenever possible. Once he started to hire, Seth took the risk of over-hiring for some positions. It couldâve backfired, but he trusted the move of hiring people he trusted and who could quickly grow into their role and make it their own.Price on Value
Tactics for Landing Long Term Contracts and Increasing Client Retention
Seth recommends charging as much as you reasonably can right from the start. He made the decision to position on premium and be both the new agency around and the one that charged the most. It seems counterintuitive, but he was willing to turn down work to keep his prices up. To him, losing work over price is an indicator that youâre pricing correctly and he was willing to lose up to 20% of new business with this strategy. He knew people were paying for more than just performance, they were paying for the confidence in future results. This way, he could hire better teams, drive better performance, and build a better reputation.Whenever possible, Seth likes to start client engagements with a twelve-month contract. If itâs not an option, heâs willing to do a six-month pilot. Recently, he has also introduced paid media audits, where his team conducts a thorough analysis of the client's account and provides consulting services.
His agencyâs growth strategy focuses primarily on client retention, aiming to maintain relationships for five to ten years rather than solely pursuing new business. There have been a couple of occasions where Seth wished he tested a client before committing to a year-long relationship. Consequently, his team is trained to assess each potential client with the mindset of determining whether the engagement is a âwinnable game.â They also donât hesitate to turn down clients who come in with unrealistic expectations.
More recently, he has been able to move some of his paid media clients to three-year contracts by offering a discount and an offer to exit the contract with a 90-day notice. This alleviates the fear of being locked into a long-term commitment without recourse. While clients might feel a sense of freedom with this provision, the reality is that a 90-day notice period is substantial enough to encourage open communication about any concerns that may arise during the engagement.
A successful collaboration begins with understanding the clientâs needs and challenges and a great way to achieve this is through a collaborative project. Jason suggests a foot-in-the-door project where theyâll participate in identifying their biggest challenges and creating an action plan. Itâs a great way to create a sense of ownership in the outcomes and help build trust as clients see their input being valued and integrated into the final product.
Shifting Focus and Getting the Agency Owner Out of SalesSeth has come to recognize the importance of distinguishing between promoting himself and advocating for the solutions his agency provides. Like many agency owners, he was deeply involved in the sales process, leading clients to believe he would also be heavily engaged in product delivery. While he initially played a significant role in sales, as the agency grew, he began to step back, which resulted in some mismanaged expectations.
He has since adopted a new approach, positioning himself as the product architect and his team as the driving force behind the product. By surrounding himself with a team that excels in their respective areas, he has shifted client focus away from his involvement. This allows the client space to appreciate the capabilities of the team.
Additionally, Seth was taken aback by the extensive responsibilities that come with ownership. Running a large in-house agency was a challenge, but it paled in comparison to the diverse duties associated with owning a business. From managing human resources and legal obligations to overseeing finances and IT, the vast array of tasks can be overwhelming.
This realization has highlighted the need to delegate responsibilitiesânot only to alleviate his workload but also as a vital strategy for ensuring mental clarity and operational efficiency.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
-
Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
How can you step away from daily operations and embrace the role of the agency visionary? Is there a team member who could take over the things you donât love doing? If so, how would you begin to prepare them for this transition? Todayâs guests built a relationship with a key employee that most agency owners dream of when they think about delegating and reclaiming their time.
It took a lot of work, investing in growth, and trusting that someone who started as an employee could evolve into a partner in the agency, but they managed to do it in a way that has only benefitted the agency and the team. Join them for an engaging conversation filled with insights into delegating and slowly transitioning from being a hands-in agency owner to being the visionary and face of the agency.
Tiffany Sauder is CEO and Kyler Mason is president of Element Three. They run a full-service marketing agency that modernizes go-to-market strategies for manufacturers with complex distribution channels.
Tiffany and Kyler discuss their journey in the marketing industry and the dynamics of running a business, how their open communication gave way to a lasting partnership, and the balancing act of successfully adopting new roles at the agency while ensuring its continuous growth.
In this interview, weâll discuss:
Learning to pivot in an economic crisis.
Turning short-term hires into long-term assets.
Rewarding the ownership mentality.
Moving beyond the founderâs shadow.
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Sponsors and ResourcesJoin us in Feb 2025 to ELEVATE YOUR AGENCY! You donât know what you donât know. But you can learn a ton and get connected with a small group of like-minded agency owners plus me and some game-changing speakers at our exclusive event. Weâre meeting in Phoenix, AZ for two days of transformative insights where you'll make meaningful connections with top-tier leaders, master inbound and outbound strategies, and elevate your agency to achieve 10x growth. Check out ElevateMyAgency.com and grab your spot!
Turning a Struggling Agency Into a Career CatalystThere are very few stories of people who start their agency on purpose and Tiffany is one of them. She grew up in a heavily entrepreneurial-focused household and, coupled with her dissatisfaction with the bureaucratic environment of a large pharmaceutical company, compelled her to try something different. She convinced her father to invest in a small marketing agency, where she took on the role of a ânaive sweat equity partner.â
According to Tiffany, at that time the agency was a dysfunctional project shop with one major client that accounted for most of its business. However, it provided her with an environment where she was exposed to the work and learned about the industry. Although the journey was challenging, Tiffany felt very confident in the unknown, excited to learn, and worked to transform her initial ignorance into knowledge and competence by seeking mentorship and asking questions.
Despite its imperfections, the agency served as a crucial platform for her development, allowing her to learn, experiment, and connect with industry professionals who would have otherwise been difficult to reach.
Ultimately, her willingness to step into the unknown led to invaluable learning opportunities, developing resilience, and significant achievements.
Pivoting During Changing Times and Economic CrisisThe agencyâs rapid growth and success during the first few years gave Tiffany a false sense of confidence. However, she faced a rude awakening during the economic downturn of 2008-2009. This period was not only financially devastating for many businesses but also coincided with the birth of her first child, both equally significant.
During this time, she saw larger agencies struggling to adapt to the digital landscape, grappling with the unfamiliarity of new business dynamics. Lacking robust analytics capabilities, they found it difficult to pivot.
Coming from a finance background, Tiffany recognized an opportunity to get ahead of the curve, particularly as e-commerce began to emerge. She was able to invest strategically in the future without facing the cultural resistance that established agencies encountered. This unique position, combined with her willingness to embrace risk, provided her with a distinct advantage.
Turning Short-Term Agency Hires into Long-Term AssetsWhen Kyler first came to work at the agency he was the first digital marketing hire. He was excited to learn and gain a more well-rounded experience in taking a company to market. He initially thought heâd stay at the agency for a few years, learn as much as he could, and then start his own business.
For her part, Tiffany appreciated Kylerâs honesty about his future plans and recognized the potential in his aspirations. She chose to embrace his ambition rather than view it as a threat. She figured both parties could succeed without diminishing each otherâs potential. Hence, she invested in Kylerâs growth.
This commitment, coupled with the open communication that defined their relationship, encouraged Kyler to extend his tenure beyond his initial expectations. He became actively involved in shaping his growth trajectory within the agency and felt valued when voicing concerns about the direction set by executive leadership.
To retain key employees, agency owners must be in tune with their aspirations and show them a clear path for success. They need to feel significant and heard. When they donât, thatâs when they leave.
Rewarding the Ownership MentalityThrough their ongoing dialogue, Tiffany and Kyler managed to build a strong relationship based on trust, aligning interests, and creating a motivating environment that contributed to the agencyâs collective success.
As Kyler stepped into the role of president, Tiffany sought assurance that even in her absence, he would consistently prioritize the agencyâs ownership and make long-term decisions that reflected its best interests. To foster this alignment, she decided to offer him shares in the business, ensuring he would be as invested in the agency's success as she was.
Kyler had already demonstrated an ownership mentality prior to his official role, and his behavior remained unchanged after the transition. This was very important to Tiffany who didnât want to create handcuffs of loyalty, but rather to reward exemplary behavior and encourage him to keep acting in the best interest of the business.
This transition also allowed Tiffany to redefine her role within the agency, providing her with the opportunity to step back from certain responsibilities. She now describes her position as still being front and center in their marketing, as well as offering mentorship and support, where her experience and insights serve to guide Kyler and the team. By positioning herself as a synthesizer and communicator, she creates a space for collaboration, allowing team members to thrive and develop their skills. This approach not only enhances individual capabilities but also strengthens the overall fabric of the organization.
Growing the Agency Beyond the Founder's ShadowKylerâs role has also changed significantly as he now wears many hats, running the account services team, being very involved in new business sales, and balancing that with his primary role of growth and strategy. Heâs been trying to build an agency that does not need Tiffany, which requires a well-defined strategy, targeting the right clientele, and implementing effective marketing initiatives.
Going from relying on the agency owner's reputation to successfully promoting the agency's services without their direct involvement is quite challenging. Sharing the spotlight and highlighting the talents of your team is key to achieving this. Focus on enhancing the overall performance of the agency and explain why your team will do a better job than youâd do on your own. Furthermore, build a transparent process where the client understands whatâs going on at every step of the process. This way, they wonât constantly reach out to try to get you involved.
Transition Slowly for Lasting SuccessFor many agency owners, transitioning out of day-to-day tasks and watching their team solve things without them can leave them feeling redundant. Thankfully, Tiffany already had other projects lined up by this point and was able to pour her energy into those endeavors.
She did, however, feel a sense of loneliness. For so long sheâd been the heart of the team and knew exactly what everyone was working on and now suddenly she didnât feel like part of a team. It took some time to adapt to this new reality but eventually, she adopted a new mindset where she recognized the contributions she could only make from her new role as the agency visionary.
Moreover, she believes a slower and more intentional approach to the transition helped get the best results. It took approximately three years of careful planning for Tiffany and Kyler to lay the necessary groundwork and ensure that when changes were implemented, they were met with clarity and cohesion.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Have you ever rushed your hiring process out of eagerness to fill a position and delegate responsibilities? Did you later regret the decision to hire fast? There is a reason they say hire slow, fire fast. Finding the right people to fill the roles on your growing team is an integral part of growing. In this interview, learn from one agency owner who takes immense pride in cultivating a core team that shares his vision. However, getting there has not been without its challenges. One of the most valuable lessons he learned is that hiring takes patience and a well-structured process. Check out this thoughtful discussion on the importance of having the right people in the right positions to ensure success and peace of mind as the agency expands.
Bryant Walker is the founder and CEO of Tavo Media Group, a growing full-service agency with team members scattered around the country. He discusses the challenges and excitement of growing his agency and talks about the balance between intentional growth and losing control, emphasizing the importance of investing in the right talent for the right roles. Bryant shares insights on past hiring mistakes, particularly in account management and design roles, and highlights the ongoing learning process of finding the perfect fit for his team.
In this episode, weâll discuss:
The costly results of rushed hiring.
A hiring process that guarantees better results.
Investing in team building to cultivate commitment.
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Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
The Costly Mistake of Rushed HiringOne of Bryant's early missteps in his agency was an overreliance on individuals who were ultimately not right for their roles. He has since learned that hiring is an exercise in patience and that acting impulsively leads to poor hiring decisions.
For instance, he hired senior designers based on their impressive portfolios without delving deeper into their actual roles and responsibilities in previous projects. This led to subpar results and a disconnect between the work he saw in the portfolios and the work being produced by the team.
In his eagerness to delegate responsibilities and focus on the agency's growth, Bryant granted too much autonomy while also delaying necessary corrective actions, which negatively impacted the quality of the agency's work.
After addressing this issue and making more informed hiring choices, Bryant has shifted his perspective on recruitment. He advocates for a more intentional approach, taking the time to find the right fit for the role and ensuring that the candidate has the necessary skills and experience to excel in the position and avoids making rushed decisions just to fill a position quickly.
When to Cut Ties: Addressing Underperformance QuicklyIn cases like what Bryantâs senior designer situation, reluctance to fire quickly is a common reaction based on the fear of disrupting the team. Nonetheless, this can often lead to holding on to underperforming employees for longer than necessary.
Despite his efforts to foster productive discussions with these team members, Bryant ultimately found himself reverting to their tasks. In spite of this, he held on to those workers hoping it would eventually get better. Many times agency owners delay these decisions fearing that firing the wrong hires would result in more work for themselves and the rest of the team. However, letting go of the wrong talent sooner rather than later is essential for the growth and success of the agency.
Changing Your Hiring Process to Guarantee Better ResultsTo attract the most qualified candidates for a position, Jason recommends implementing a deliberate and strategic hiring process right from the job posting stage. When you advertise the position on any platform, include specific instructionsâessentially "mouse traps"âthat only attentive candidates will notice. For instance, leave instructions to email you with a specific subject line and send a video explaining why they want to work with you. This way, youâll be able to quickly dismiss the applications that donât meet these standards.
Next, focus solely on the applications from candidates who submitted a video and, after selecting the best ones, ask them to complete a paid test project. Only the candidates who submit that test get to move onto the following stage of the actual interview.
Normally, Bryant can get up to 800 applications for one job, which is already too many and will only fill up his inbox. Instead, by building a hiring process with strong and strict criteria, youâll greatly reduce the number of applicants to those who truly deserve your attention, ultimately leading to interviews with candidates who are a better fit for your agency.
Once youâve interviewed the candidates, have your preferred choice prepare a 90-day success plan. Will they truly make an impact in your agency in 90 days? Not really, but you can track their activity based on the plan. If they canât even follow through with their own plan then theyâre not the right choice for your team.
Investing in Team Building to Cultivate CommitmentTo some business owners, investing in a team sounds like an unnecessary headache when they can just find freelancers to do the job. However, a dedicated and motivated team can have a huge impact on the overall success of a business.
Bryant has never taken more pride in growing his agency than now that he has found a core team that believe in his vision as much as he does. To him, the difference is evident in the work thatâs put out compared to before when he was doing it alone.
Once he overcame his freelancer mentality, Bryant saw real change in the agencyâs growth. By prioritizing the recruitment, development, and support of talented individuals who are aligned with the company's values, agency owners can build a strong foundation for growth and sustainability.
Setting Your Sales Team Up for SuccessImplementing the Entrepreneur Operating System (EOS) as an organizational and accountability tool has greatly helped Bryant track employeeâs road to success with a lot more intention.
He realized that having everything leading back to him made it impossible for the agency to scale so he hired new salespeople last year. However, it seemed none of them could close as many deals as Bryant could while he was still handling sales by himself.
In the beginning, salespeople need a lot of handholding and support, so having a system to share success stories and experiences can motivate and inspire them to perform at their best. Create a framework categorizing each story based on relevance so your team can something to draw from while developing their own stories and improve their sales techniques.
Moreover, managers can also debrief their teamâs sales calls to step them up for success. Ask them to send you their best and worst sales calls of the week and provide helpful advice while also pointing out what they should keep doing. This hands-on approach not only helps in the initial training phase but also in continuously developing and refining the sales team's capabilities. Eventually, youâll get them to a place where youâre no longer needed.
Hot to Stop Waiting for the Perfect Moment and Take ActionFinally letting go of sales has also helped Bryant embrace his âF*ck It, Letâs Do Itâ mode, which has become his mantra. With this mindset, he aims to be proactive and not wait for the perfect scenario to present itself before taking action. Instead, it stresses the need to make quick decisions, execute them, and learn from the results.
Looking back on his agency journey, Bryant mostly regrets the things he didnât do and moments where he took too long to make a decision.
He now embraces the fact that indecision is the worst decision and strives to trust his instincts, make decisions confidently, and be willing to learn from both successes and failures. Thereâll never be a âperfectâ time to do something but there will always be a possibility to learn from something that didnât go as planned.
Similarly, heâs also learning to say no to certain opportunities in order to protect the time and focus he dedicates to business growth.
By taking action, being intentional with your time, and surrounding yourself with the right people, you can set yourself up for success in both your personal and professional endeavors.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Do you want to sell your agency someday? Can you imagine a profitable sale and exit agency in the future? Do you feel an acquisition is the mark of business success? Selling your agency shows youâve built a robust and profitable business, which is a noteworthy achievement. Todayâs featured guest helps his clients get ready to find a perfect buyer and reach a deal that withstands the test of time. Heâll discuss why the common reasons to sell are not necessarily the best reasons as well as why undervaluing yourself could hurt your valuation. He also shares common deal killers and deal makers. He highlights the importance of considering personal fulfillment and financial objectives when deciding to sell an agency.
Jonathan Baker is the co-owner of Punctuation, an all-in-one advisory practice that helps marketing firms position themselves with lead-generation plans. In particular, Jonathan helps small to medium-sized companies get ready to sell.
He discusses the process of selling marketing services firms and challenges the idea that selling is always the pinnacle of success, emphasizing that success should be what truly drives individuals.
In this episode, weâll discuss:
What does the $1 million mark communicate?
Deal killers and deal makers.
The true cost of undervaluing yourself.
What if you donât want to sell?
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Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
Why Do Most Agency Owners Choose to Sell Their Digital Agency?Many people build agencies with the ultimate goal of selling them at some point. Thereâs an innate drive to sell and, to most people, selling seems like the pinnacle of success. However, selling is not always the right answer. According to Jonathan, success should be defined as whatever drives an individual.
Common reasons to sell an agency include lack of enjoyment, approaching retirement, financial goals, burnout, or desire for a career change. Overall, selling should not be the default option and itâs most advisable if you know exactly what you want to do after selling. However, if you just want to sell in order to have a ton of money or because you feel burnout, maybe itâs time to start looking into some key hires to take over the tasks that are most draining for you while also increasing profits.
In some cases, owners that are growing too much or too fast choose to sell. They may have started their business to do work they love and can continue to do so with a small team of employees However, when it comes to further scaling the agency and reaching maybe 100 employees, it seems impossible to manage.
Burnout and frustration are scenarios that could be solved without necessarily selling and still guaranteeing youâll be able to continue to do the work you love while enjoying more free time. In the end, giving up too soon can prevent you from reaching your full potential and achieving greater success.
Why the $1 Million EBITDA Translates Into a Sellable AgencyHow do you know when youâve reached your full potential? When you build an agency with at least $1 million in EBITDA, youâre definitely doing something right and most likely just inches away from greater success. Most owners encounter many obstacles in this stage, but once you start focusing on the problems and the things you donât have you start to give up.
The $1 million in EBITDA goal is a common measure for a sellable agency since itâll open up the pool of buyers interested in your business. It also says something about the way you run your agency, which will create more competition among prospective buyers and, in turn, increase your multiples and price.
Ultimately, itâs a mark that will communicate that youâre not as integral to the business as when youâre running a 10-person firm.
Maximizing Your Agency's Value: Key Considerations Before SellingItâs important to understand that your agencyâs worth is not guaranteed as it is contingent on a variety of factors such as client concentration and employee retention.
The way a purchase deal is usually structured is youâll get a percentage of the valuation paid upfront and the rest is earned based on hitting performance targets over the next few years. However, earnouts are also seen as a potential pitfall, as they can be designed in a way that makes it difficult for the seller to succeed. Usually, the higher the client concentration the lower you can expect to get upfront.
Selling your agency means losing control over it and your performance post-acquisition could be impacted by the new owners. Hence, it is crucial for sellers to carefully consider the terms of the deal and ensure they have a level of control until the earnout is paid in full.
As a seller, your primary focus should be on negotiating a deal where youâre happy with the money you get upfront, since it may be the only money youâll see.
Agency Acquisition Deal Killers and Deal MakersEven if youâre financially sound and get a good offer, several things could still be potential deal killers. From a sellerâs perspective, culture plays a significant role in the success of a deal. The transition from being the boss to having a boss again can be a deal breaker if the cultural fit is not right. The earn-out period, where the seller continues to work for the buyer for a few years, can be challenging if the culture clash is too great. This can lead to the seller walking away from a potentially lucrative deal in favor of maintaining their autonomy.
Additionally, the buyerâs long-term plans for the agency can either make or break the deal. Even though they say all the right things at first, as negotiations progress their true intentions may become clear. Sellers need to be strategic and discerning in their interactions with potential buyers to ensure that their agency is in good hands.
On the other hand, from a buyerâs perspective, having clean books and transparent financial practices will be key in securing a successful deal. Buyers will scrutinize the financials of the agency to ensure that they are making a sound investment. Sellers need to be honest about their expenses and factor in any non-essential costs that may not transfer to the new owner. Itâs a step that can help sellers increase their EBITDA and make their agency more attractive to potential buyers.
The True Cost of Undervaluing Your AgencyAgencies often overestimate their financial position, which is why it is essential to seek professional guidance rather than relying solely on QuickBooks. A financial expert can analyze your numbers and pinpoint areas for improvement. A lot of agency owners think their profit is higher than it really is because theyâre not paying themselves enough. Once the buyer comes in and takes a look at the numbers, theyâll realize replacing the agency owner will cost much more than what theyâre currently paying themselves.
How much should you be paying yourself? Itâll of course depend on a number of factors including the number of employees; however, if your agency has reached $1 million in EBITDA, that number should be above $200K. This will not only be important for the negotiations, but it will also be relevant if you sell with an earnout. If you sign up to be an employee for the next three years while a certain goal is reached, do you really want your salary to be $100K? Itâs a lot easier to argue for a higher salary if youâve been paying yourself a higher salary all along.
Navigating the Post-Sale Period with Agency ClientsOnce a deal is reached how long should you wait before letting clients know youâre selling? It depends. Most of the time you want to wait at least six months before telling them. You donât want them to jump ship and itâs better they get the news once they can see the service quality has not declined during that time and hopefully has even improved. However, if one of your clients accounts for 70% or more of the business then youâll probably want them to be on board from the get-go.
It also depends on the way the buyer wants to handle the transaction. Are they trying to get the agency under a brand name immediately after purchase? Are they comfortable with not making drastic changes right out of the gate? In that case, waiting a couple of months could be the best course of action.
To safeguard your interests, include a clause in your contracts that allows for the transfer of clients with written notice. This way, youâll minimize the need for client cooperation and wonât risk losing the deal.
What if You Donât Want to Sell Your Agency?Most agencies will never sell. If this is your case, then make the right moves to build a profitable agency that will give you the quality of life you want. A lot of the adjustments youâd have to make to attract buyers are the same things that make a good business, even if youâre not selling it.
If you built a profitable business, love the work, and delegate enough so you have the time to enjoy the fruits of your labor, then youâve already created a fulfilling business and life.
Many business owners end up selling because they feel isolated and hope being part of a bigger firm will solve this problem. However, more often than not they end up creating more problems than theyâre solving.
Instead of selling, try finding a competent number two employee you can trust. Having a strong second-in-command can make it easier to delegate tasks, make important decisions, and ultimately, grow your agency. Itâs not easy but once you find the perfect fit growing the agency will go back to being a fun experience.
However, in case you really canât find this person, maybe itâs time to question whether youâre managing and incentivizing people the right way.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
What would you do to keep growing your agency if new leads dried up? How would you guarantee increased business? How would you ensure continued success? Our guest today emphasizes the importance of revisiting your CRM as a vital tool for driving business expansion. After years of collecting contacts for her database, a new CRM system revealed previously overlooked opportunities. Rather than seeking new leads, she realized the value of delving deeper into her existing contacts. Learn how this agency owner transitioned into building a scalable subscription-based agency model.
Wendy Lieber is the CEO and co-founder of ContentBacon, a leading content subscription service that provides resources for clients to tell their unique stories and establish themselves as experts in their field with custom content. Wendy shares her journey from running a traditional boutique agency to founding a successful content-as-a-service company. She reflects on her entrepreneurial experiences and discusses how agency owners could use personalized human connection to maximize their CRM potential.
In this episode, weâll discuss:
Mining your CRM for overlooked gold.
Maximizing your CRMâs potential without new leads.
Effective agency leadership strategies to help your agency grow.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
Choosing Content Over Traditional Agency GrowthContentBacon is Wendyâs second company venture. Her initial venture was with a more traditional boutique agency, where she worked with private equity groups and created customized solutions.
By the time she grew that agency to $500,000, Wendy joined a program called Entrepreneur Accelerator designed to grow companies over $1 million. Even though she highly enjoyed the work for a while, she realized she wasnât very interested in continuing to scale that particular model past what theyâd already reached.
Around that time, she had been testing a content subscription-based model with her clients and had seen a great response. With the rise of social media and having a social presence becoming more and more important, Wendy saw the value of a service like this for struggling businesses. This was the model Wendy wanted to grow.
Mining for Gold in Your Agencyâs CRMThrough doing their own inbound and outbound marketing, Wendyâs agency has been collecting a lot of contacts to their database over the years. Once they moved to a more sophisticated CRM with HubSpot, they started to analyze and utilize the data they had and found they didnât need anything new, rather they needed to go much deeper into what they had.
Thereâs a tendency in the marketing industry to always chase after the next new thing or shiny object. Wendy cautions against falling into the trap of constantly seeking out new technologies or strategies without fully utilizing the data and resources already available. Instead, she advocates for going back to the basics and focusing on simple, effective strategies that can drive growth and success.
Try to identify the low-hanging fruit you can leverage to your benefit and understand and segment those contacts. This way, you can identify high-value leads, personalize your marketing efforts, and drive better results rather than constantly chasing after new trends.
Maximizing Your CRM Potential Without New LeadsIf you feel like youâve invested a lot in a good CRM system but are not seeing the benefits of your investment, take a look at the work being done. Is there a CRM champion on the team? Is there at least one person who owns it and develops a strategy around it? A CRM is a tool, but you should really build a strategy around it.
As a helpful exercise, Wendy suggests thinking about what you would do if you couldnât get a new lead for 90 days. How would you generate new business with what you have? Ask yourself this question and use it to challenge yourself to find the gold thatâs probably in your CRM.
Check your contact list and reach out to old clients and prospects. You may uncover valuable opportunities that have been overlooked. To this point, Wendy suggests trying to establish a real conversation instead of just using automation. This way, youâll be able to build stronger relationships, foster trust with your audience, and ultimately achieve greater success in your marketing efforts.
From Putting Out Fires to Effective Agency LeadershipAfter running two businesses, Wendy continues to be surprised by the challenge of keeping both customers and employees satisfied. Balancing the needs of her clientele and her team while simultaneously focusing on business growth is an ongoing endeavor. Despite her extensive experience, just when she believes everything is on track something will happen that throws her back to working on the business instead of in the business.
Ultimately, a big part of business management revolves around continuous problem-solving. Those naturally inclined to navigate these challenges are probably better suited for the role. However, the best way to stop constantly putting out fires is to train and empower your team to make decisions based on the overall goals and directions set for the agency.
A clear leadership that sets the course for the business will lead to a team that is better equipped to make decisions and take initiative without constantly seeking approval from the leader, leading to a more efficient and effective work environment.
At the end of the day, most agency owners started a business not only looking to have more money but also to gain more time and freedom. Once you start to find the right people to take over the tasks you hate and form a team that works well together, things will flow naturally. This is why Wendy doesnât believe in coaching and developing a person to fit in with the culture. If things are right, she says, itâll flow. Sometimes if it feels too hard for someone to adapt to the team, youâre just trying to put the wrong person in the wrong seat.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Have you ever fired a client? If you could do it without repercussions on cash flow, would you? Most agency owners have horror stories about toxic clients who created an unhealthy environment for the team. Deciding to cut ties can be particularly daunting, especially when the client in question represents a significant portion of your revenue.
Todayâs featured guest decided to prioritize herself and her team's well-being by firing a client before the situation escalated. She looks back on a long and successful career in marketing and highlights how she came back from losing major clients and how she learned to advocate for herself and her team.
Susan Finch is a seasoned entrepreneur, writer, and podcaster with nearly four decades of experience in the advertising and marketing industry. She began her career as a teenager at a recreational boating company and eventually transitioned to an agency in the 1990s, during the transformative rise of the internet.
After a few key clients parted ways with the agency she was presented with the chance to start her own firm and continue to work with the remaining clients. With thirty years of industry experience under her belt, she is eager to share valuable insights, discuss the challenges of losing significant clients, and explore the strategies sheâs been using to focus on working on the business rather than in the business.
In this episode, weâll discuss:
Susaâs early mistake and learning to build a sustainable agency.
Cutting ties with tosic clients.
On impactful networking.
Love, hate, delegate.
How Early Success Can Mask the Need to Build Systems and ProcessesIn 1996, when the web was still very new, Susan started to work for an agency where she had the opportunity to work with clients like the City of Anaheim on interesting projects and fell in love with the work.
However, the agency took a big hit once this client moved their work in-house. The agency owner suggested that Susan establish her own agency offering to become her first client. At the time, she was nine months pregnant, and the idea of launching her own business felt overwhelming. Nevertheless, she embraced the opportunity and never looked back.
The transition to building her own agency was relatively smooth, with introductions being made, clients satisfied, and the work continuing without much fuss. However, looking back, Susan realizes this made her too comfortable. She was late to create her own prospecting processes to keep the pipeline full when referrals dried up.
Having landed on a business, Susan failed to plan for the future and have the different pieces in place to guarantee its proper functioning. Without those pieces in place, an agency will scale for a while but ultimately crash. The lack of vision, goals, and processes led her to work on the business all the time.
Longterm Benefit to Cutting Ties with a Toxic ClientThe breaking point that led to the ultimate change for Susan was getting rid of a toxic client. This specific client was causing her and her team immense stress and draining their creativity and joy. It came down to making the difficult decision to fire them, despite accounting for 40% of the agencyâs business, to guarantee a healthy and abuse-free work environment.
The immediate aftermath of this decision was a rough patch where thankfully Susan was not shy about calling up all her contacts and being very open about looking for small and big projects alike and the type of client she wanted to work with.
She began working as a fractional CMO with several companies and sometimes became the full-time solution they were looking for. Before long, Susan secured a new high-profile client, whose esteemed reputation gave her the confidence she needed to network effectively in her industry, having conversations with big-time CEOs and CMOs. Ultimately, firing her toxic client was a painful decision but the right one in the long run.
Rebuilding Your Agencyâs Momentum & Bouncing Back from Firing a Major ClientFiring a client is intimidating, especially when they account for a significant part of your revenue. However, Susan knew it was time to stand up for herself and her team. Every agency owner has stories about difficult clients but itâs important to advocate for yourself and your team.
Donât wait too long to raise the issue once you notice the problematic behavior is affecting the team and set clear boundaries This assertiveness can foster a more positive working relationship or lead to a necessary separation. Regardless of the outcome, your team will appreciate your commitment to their well-being, reinforcing the standards of treatment you expect.
In the end, the problematic individual at that old clientâs company left and the company approached Susan to continue the working relationship months later. By standing up for herself, Susan was able to maintain her integrity, build stronger relationships, and create a more positive work environment.
Lessons on the Power of Personal Touch for Impactful NetworkingNetworking provided Susan with the opportunity to meet new people and make a lasting impression. She credits this to the fact that sheâs not afraid to pick up the phone or schedule an in-person meeting.
People nowadays tend to rely on emails and social media to start conversations and donât realize this can create a sense of detachment. By picking up the phone, meeting for coffee, attending events, and engaging in real conversations, agency owners can establish genuine connections that can lead to new opportunities, collaborations, and friendships.
In-person interactions allow for spontaneity, creativity, and a deeper level of understanding that may not be achieved through digital communication alone.
Consider your agencyâs email list. If you have a few high-engagement contacts who are yet to become clients, why not reach out with a simple phone call to express your gratitude for their engagement? They will likely be pleasantly surprised to learn that your sole intention is to thank them, leaving a memorable impression.
Making that phone call demonstrates your commitment to going the extra mile to connect, engage, and show genuine interest in others. This approach can lead to stronger relationships, enhanced trust, and a profound sense of connection among individuals.
The Love, Hate, Delegate Approach to LeadershipJust like choosing to work with the right clients will help you create the type of work you love to do and motivate you to do great things, Susan advocates for the âlove, hate, delegateâ approachâan effective method she's learning to use to regain focus on her business operations. This system involves categorizing tasks into three distinct groups: those she loves to handle personally, those she can eliminate, and those that can be delegated to others.
At the end of the day, agency owners donât just want to scale their business, they want to get to a point where they can build a team that can take over and get their time back. Time is irreplaceable so find ways to keep building your business while still doing the work you love. Get your ego out of it and allow other people to come in and make you look better.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
How often do you take time off simply to rest? Do you carve out moments to recharge and find stillness before the daily whirlwind begins? If youâre a successful entrepreneur who doesnât prioritize rest, you may be heading toward burnout. Todayâs featured guest is an entrepreneur whoâs created several noted frameworks for business owners, empowering countless individuals to elevate their businesses.
Gino Wickman is an entrepreneur, content creator, and most notably the founder of Entrepreneurial Operating System (EOS). Through the years heâs noticed highly accomplished entrepreneurs tend to feel unfulfilled in what should be the highest point of their success. This happens when they forget the fundamental purpose behind building a successful business: to create a fulfilling life. In this episode, you will gain insights into achieving success while maintaining fulfillment in both your professional and personal life.
Gino has created many business frameworks but EOS is what heâs best known for and is used by hundreds of thousands of companies around the world. In his new book, "Shine," Gino explores the idea of achieving success while maintaining balance and fulfillment in life. This is something many entrepreneurs often struggle with and may not even realize it.
In this episode, weâll discuss:
Why business success isnât enough.
Breaking work cycles.
3 discoveries to free your true self.
The ten disciplines.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
The Missing Piece: Why Isnât Business Success Enough?
Check out Gino Wickman on the 2 disciplines every agency owner needs.With a track record of thirty years working with entrepreneurs, Gino realized that, even though he has been helping them create thriving businesses, many of his clients continued to feel unfulfilled. This is something Gino himself can relate to and what led to him to creating his latest framework centered on helping entrepreneurs master both their inner and outer worlds.
Many people achieve remarkable success but continue to feel unfulfilled or unbalanced, even if they have more money than they know what to do with. Attaining external success and continuing to struggle with finding purpose and feeling empty on the inside is common for business owners. This underscores the need to nurture our inner selves in addition to focusing on external achievements.
In our fast-paced and achievement-oriented society, itâs easy to get caught up in the pursuit of external success and validation. However, without a strong foundation of inner fulfillment, external achievements can feel hollow and unsatisfying. Thatâs why prioritizing self-reflection, self-care, and personal growth is essential to cultivating a sense of inner peace and fulfillment.
Breaking the Work-Hard and Hustle CycleAfter selling EOS Worldwide, Gino found himself in a remarkable position, engaging in work that he genuinely loved. This newfound contentment revealed to him he had been operating under a belief system based on non-stop work since age fifteen. Back then he committed to work hard and build an empire around what he thought would make him happy.
Now, years later, it finally hit him that he had been enduring the unhappiness created by his work obsession and the feeling of safe and contentment after the sale is what helped reveal this pattern. He realized it was time to work on his inner struggles and find true fulfillment.
Just like Navy SEALs commonly experience trauma once they are safe at home, entrepreneurs often find that their inner demons come to the surface when they are not focused on a task or goal. These moments of stillness and introspection present an opportunity to confront our fears, insecurities, and past traumas, and ultimately free ourselves from the burdens that have been holding us back.
To deal with this, Gino recommends meditation, which many people reject fearing that the moments of quiet will evoke past trauma. Nonetheless, Gino believes there is a need to let this stuff come up, to shed the layers of armor youâve built up, and to free yourself. Achieving this freedom is what will allow individuals to make a real impact on the world and become much more creative.
3 Discoveries to Free Your True SelfSome people think that growing and selling your business brings freedom. However, Gino presents a different perspective, advocating for three transformative insights that can help you unlock your authentic self while enhancing your energy, impact, and inner peace.
Recognize and accept that being driven is part of an entrepreneurâs DNA and wiring. Acknowledging this helps you navigate the ups and downs of that drive and recognize the impact it has on your mental, physical, and emotional well-being.
All decisions are made out of love or fear. Understanding the motivations behind your actions will help you make more conscious choices that align with your true self rather than your ego. This awareness can help entrepreneurs break free from patterns of fear-based decision-making and move towards a place of love and authenticity.
Know it is possible to be BOTH driven and have peace. This may seem contradictory at first, as many driven individuals equate drive with a constant state of hustle and striving. However, finding peace does not mean losing drive; in fact, it can enhance it. At this stage of his life, Gino has everything heâll ever need; nonetheless, heâs more motivated than ever. By letting go of the need to constantly be in motion and finding a sense of inner calm, driven entrepreneurs can tap into a deeper source of motivation and creativity.
The Ten DisciplinesThe next step after embracing these discoveries is how to implement them into your life. In this sense, Gino emphasizes the transformative power of shedding everything that isnât the real you. He encourages entrepreneurs to let go of societal expectations, comparisons to others, and unnecessary tasks or responsibilities that do not resonate with their core values and passions.
The 10 disciplines outlined by Gino provide a roadmap for achieving this state of authenticity and include:
Tenure thinking
Taking time off
Knowing oneself
Being still
Knowing one's 100%
Saying no often
Avoiding low-value tasks
Preparing nightly
Organizing one's life
Practicing humility
Following these disciplines, anyone can begin to strip away the layers of conditioning, false beliefs, and distractions that prevent them from living in alignment with their true selves.
For instance, knowing your 100% is a step that will help you pinpoint the perfect amount of effort youâll need to create something amazing as an entrepreneur. Also known as the work container, this measure should answer how many weeks of the year and hours per week you can work to reach your maximum output without going over or under that measure. One extra hour over that measure may lead to burnout while one hour less might mean youâll start to get bored.The key to finding this magic number is to start experimenting with how you manage your time. Instead of deciding youâll only work three days of the week as of tomorrow, start reducing your working hours little by little and see how you feel, how your energy levels change, and whether or not youâre still able to handle your workload. The perfect balance will allow you to manage your energy while making as big of an impact as possible.
Learning to Sit Still Without GuiltDo you find it challenging to sit still? If so, you may struggle because your mind is preoccupied with tasks and responsibilities that are piling up, making it difficult to take a moment to reset and recharge.
What does âstillnessâ mean in this scenario? It means four things: meditation, prayer, contemplation, or journaling. The idea behind this daily exercise is to set aside time to just stop and let your soul catch up to be present and aware.
For his part, Gino recommends dedicating thirty minutes each day to simply sit in silence. As simple as that sounds, itâs hard for driven entrepreneurs. If this is your case, just try starting with 10 minutes every day and slowly work your way up to 30 minutes. Being constant with this practice will allow you to feel more present, aware, energized, and creative, which will benefit every aspect of your life, not just your performance as an entrepreneur.
Why 130 Days Off Could Boost Your BusinessJust like sitting still can be a challenge for entrepreneurs, taking time off can be even harder. However, Gino recommends business owners take at least 130 days off a year, which may seem like a lot if youâre used to working long hours and prioritizing productivity above all else.
Personally, Gino has taken the month of August off for the last twenty-five years and is a big believer in the power of a sabbatical. He insists these days off must be days when you do not think about work at all.
By taking time off, we allow ourselves to rest and rejuvenate, which can lead to increased creativity, productivity, and overall well-being. It allows us to step back from our daily routines and responsibilities, gain perspective, and come back with a fresh outlook on life.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Do you find it hard to remember the name of someone you just met? Do you struggle to recall the details of last weekâs meeting? Busy agency owners are constantly juggling countless responsibilities which is overwhelming and leaving you feeling like you're losing your edge. But what if you could sharpen your mind and tackle daily challenges with confidence?
Todayâs featured guest has transformed his remarkable journey as a record-holding memorization expert into a powerful business dedicated to helping entrepreneurs enhance their memory skills. By harnessing effective visualization techniques, he empowers individuals to project themselves into a future filled with success. In this episode, learn more about his inspiring story and insights on memorable marketing and memorization.
Dave Farrow is the founder and CEO of Farrow Communications, a full-service public relations and digital marketing agency with a reputation for creating âmemorableâ marketing and publicity campaigns. Dave shares his incredible journey from being diagnosed with ADHD and dyslexia to becoming a Guinness World Record holder in memorization and building his business around his passion for helping people understand the brain's workings.
His most recent book âBrain Hackerâ is another step in his mission to show that the brain can change and be trained to improve memory.
In this episode, weâll discuss:
Supercharging your memory with visual associations.
The super learnerâs toolkit to remember everything.
The use of visualization techniques in business.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
Using ADHD to Transform a Talent into a MissionAs a child, Dave was often led to believe that his ADHD would hinder his chances of achieving success. This conviction ignited a profound curiosity about the workings of the brain and the concept of neuroplasticity. Dave became passionate about the idea that the brain is capable of change, adaptability, and training, embarking on a mission to demonstrate this potential.
Through dedication and hard work, he broke the Guinness World Record for memorizing the order of 59 decks of cards, an accomplishment that showcased his exceptional memory skills and brought him a lot of publicity and recognition. However, he realized memorization alone was not enough to guarantee success. He needed to find ways to leverage his memory skills to create opportunities for himself.
His time as âthe memory guyâ gave him access to several media outlets, including appearances on The Today Show and features in The New York Times. Leveraging this exposure, Dave began to pivot the narrative from a personal focus to a broader missionâpromoting effective learning strategies to enhance memory and combat memory loss. Through this approach, he aims to provide valuable solutions that can benefit others.
Visual Associations as the Secret to Supercharging Your MemoryHuman beings are naturally good at remembering peopleâs faces. However, weâre not as good at connecting those faces to names. Throughout his career, Dave has used memorization to teach people to improve their memory. Specifically, one of the main techniques he uses is the Costume Party Technique, where people associate the name with a costume and imagine the person wearing it. Creating visual associations with names can be a powerful tool in improving memory retention.
By creating these visual associations with something we want to remember, we engage different parts of our brain and make the information more memorable. This technique can be applied to various aspects of life, not just remembering names.
The Super Learner's Toolkit: Combining Organizational Strategies and Purposeful MemorizationWhen it comes to greater amounts of information, like remembering key points from a meeting, Dave looks at it as organizing information rather than just remembering it.
Much like creating a grocery list before shopping, one can utilize the âmethod of locationâ to construct a mental map. This technique involves associating each piece of information with specific objects or items within a familiar spaceâlike an office or a roomâ, making it easier to remember and access important details.
Organizing information can help us avoid confusion and errors that may arise from simply memorizing without a clear structure. Moreover, understanding context is equally important to effective memorization. Learning out of context can hinder progress significantly. By combining organization and purpose-driven learning, you can become a super learner and collect skills like others collect stamps.
Using Visualization Techniques in Client PitchesWhen pitching clients for a big opportunity like appearing on ABC, Dave and his team try to choose words that help visualize the experience. For instance, theyâll try to get the producer to picture that client in their studio. This is a powerful technique that taps into the brain's ability to believe what it sees. In this sense, using visual language and asking questions can help potential clients imagine themselves in a specific scenario, increasing the chances of closing a sale.
To take this experience to sales, focus on what the client is looking for rather than just presenting the problem. If you can articulate this the fastest, then youâll get the biggest response. Incorporating questions enhances the visualization process when done correctly, prompting the client to imagine themselves in a specific scenario or consider their past experiences. This approach is particularly effective on websites or marketing materials, where asking questions like "Do you want X" or "Do you think this is X" prompts visitors to visualize themselves using the product or service being offered.
Using Visualization to Empower Aspiring EntrepreneursEven someone like Dave, renowned for his exceptional memorization skills, dedicates time each morning to hone his abilities. Drawing from his past experiences with Buddhist practices, he incorporates meditation into his routine, visualizing his goals and aspirations for the day ahead.
This method of visualization serves as a powerful way to concentrate on your desired outcomes and maintain motivation in your pursuits. Dave envisions himself as already successful, effectively training his brain to identify innovative strategies for achieving his objectives and overcoming challenges.
For aspiring entrepreneurs, he recommends reframing their mindset. Rather than perceiving their venture as something they are merely starting, which can evoke feelings of overwhelm about the journey ahead, they should visualize themselves as having already succeeded. This shift in perspective prompts the brain to generate actionable ideas and solutions, ultimately serving as a crucial catalyst for progress.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Have you clearly defined your service offering to the extent that you can productize it? Or do you prefer to customize your approach for each clientâs needs? Which strategy aligns better with your agency's objectives and overall success? Today's featured guest transitioned from providing highly customized services, which impacted his team's ability to meet deadlines and adhere to budgets. He has since adopted a productized model and is currently exploring how to effectively present differentiated pricing tiers. Join us as we delve into invaluable insights on launching and scaling a creative agency, optimizing your service offerings, and gracefully managing a co-founder's exit.
Matthew McIver is the founder and CEO of Commence Studio, a B2B brand and e-commerce agency with a proven track record for helping purpose-driven companies build widely-known brands. He shares his journey from graphic designer to agency owner and offers insights for those considering buying or selling a business.
In this episode, weâll discuss:
The hidden costs of customization.
Learning the value of processes and standardization.
Two paths to agency growth
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
Navigating an Agency Partnerâs ExitEver since high school, Matt envisioned a future where he would own an agencyâan aspiration he regarded as the pinnacle of success for a graphic designer. After honing his skills in design and photography at art school, he made the transition into the agency world, where he worked as a freelance designer and web developer at several firms.
Eventually, Matt partnered with a like-minded individual to embark on the ambitious venture of starting their own business, pooling together just $500 to kickstart their dream. Matt quickly learned that building a successful business requires immense perseveranceânavigating through growth, setbacks, and the resilience to rise again.
After years of building the agency together, Matt's partner experienced burnout and lost his passion for entrepreneurship. The split was amicable, characterized by mutual respect and a buyout agreement that allowed both parties to prioritize their respective futures without ego interference.
Reflecting on this pivotal period, Matt notes the buyout agreement they drafted through LegalZoom served its purpose in outlining the terms of their separation. However, he recognizes that a more tailored agreement crafted by a legal professional would have provided additional benefits and advises having a comprehensive and detailed agreement in place when entering a partnership.
The Hidden Cost of Customization and Not Having SOPsLooking back at his experience building the agency with his partner, Matt reflects on how the agency saw rapid and significant growth. However, he recognizes their journey was largely improvised, resulting in various shortcomings, the most notable being the lack of processes. As they scaled, they inadvertently constructed a business model centered around their craft and talent, leading to a portfolio that lacked distinction among brands.
The agency found itself specializing in a singular type of design, which necessitated training every new hireâboth designers and developersâin the same approach. No documented SOPs were in place, as each product was custom-built for new clients. This absence of structured processes led to several oversights, not necessarily diminishing quality, but causing them to miss deadlines and exceed budgets. Matt realized he was essentially forfeiting potential revenue by not understanding the value of the ideas they were providing for free.
More recently, they moved into a productized format that helped take their sales cycle from 88 days to just 8 days. They have packaged their services into standardized offerings that can be easily replicated and sold to multiple clients by creating a catalog of three tiers of services.
The Power of Standardization & Learning the Value of ProcessesMoving into a more productized format poses the question of how much to charge for each of their serviceâs tiers and whether or not they should make those prices public on their website. On one hand, having value-based advisory emphasizes the importance of providing personalized, strategic advice to clients. Rather than treating clients like a commodity, their approach is based on the individual needs and goals of each client. On the other hand, research indicates that clients like to know the options available to them.
After refining their sales process, Matt is now able to ask the right questions to find out what kind of business the leads are in, and their size, and position their product catalog quickly accordingly. He then presents all three options in their catalog and highlights the one he recommends for that specific client. However, this has sometimes created confusion among clients who feel overwhelmed by the options.
Ultimately, clients seek to engage with an industry expert they can trust to provide effective solutions to their challenges. They donât want to make decisions but rather have someone take care of the problem and present solutions that make it a no-brainer. Itâs important to position yourself as a trusted advisor to clients, which is why presenting the right price offering based on the clientâs needs and budget after the initial meeting might be the best option.
High-Touch vs. High-Efficiency: Two Paths to Agency GrowthThe key to value-based advisory is the ability to guide clients through complex decision-making processes and offer expert recommendations based on their unique needs. Itâs an approach that involves actively listening to clients, understanding their pain points, and presenting solutions that align with their goals. However, thereâs no one-size-fits-all approach to scaling an agency and while some entrepreneurs may choose to focus on offering high-end, personalized services at premium prices, others may find success by adopting a more streamlined and cost-effective approach.
For instance, some agency owners have found success in "creating a factory", a powerful and thought-provoking idea that challenges traditional notions of pricing and service delivery. This is the case of David, who built a successful agency by offering low-priced services in a streamlined and efficient manner.
By focusing on efficiency, simplicity, and scalability, David was able to attract a large number of clients and ultimately sell his agency for a substantial sum. His approach of offering standardized services at a low price point may seem counterintuitive to some, especially in an industry where high prices are often equated with quality. Ultimately, the key is to understand your target market, identify their needs and preferences, and tailor your business model accordingly.
Building a Strong Culture that Prioritizes Flexibility and Growth OpportunitiesMatt is very conscious of the fact that his team is his greatest asset and is committed to treating them with respect while providing compelling reasons for them to remain with his agency. He feels a profound sense of gratitude for the loyalty shown by some employees who have been with the agency since its inception, even amidst various challenges and transitions. His vision has always been to cultivate a close-knit team of around fifteen members, and although recent difficulties necessitated a downsizing, he is now focused on rebuilding.
He takes pride in building a strong culture that values time and freedom, especially as a new father. He also recognizes the importance of offering flexibility and a supportive culture for their team. By focusing on transparency, open communication, and providing tools for retention, he has been able to create a positive work environment where employees feel valued and supported.
In addition to offering competitive benefits such as health and wellness benefits, gym benefits, and paid time off, Matt goes above and beyond to support his team through personal challenges and difficult times. His dedication to prioritizing employee well-being reflects a genuine commitment to investing in his team members, recognizing that they are more than just assets or sources of income.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
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Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
How much automation should be integrated into your agency's processes? When is automation a good idea, and when isnât it? Are your agency services diverse enough to withstand a shifting market? In this interview, learn from one agency owner who has grown her agency making very conscious decisions about what sheâll need to build a business that stands the test of time. From avoiding heavy automation to building a team based primarily in the US while living in Romania, she considers all angles before making long-term plans and has pushed against some trends to find her path. In this episode, we delve into her journey and gather valuable insights on scaling an agency in the dynamic world of e-commerce.
Alina Vlaic is the owner of AZRank, an e-commerce agency that offers tested and successful solutions for launching products across all e-commerce platforms. Alina shares her journey of starting her agency from scratch in 2018 and growing it to a 20-person team dedicated mostly to Amazon sellers, e-commerce businesses, and online entrepreneurs. She discusses the decisions sheâs made from the start, to do what felt best for the success of her agency.
In this episode, weâll discuss:
Choosing flexibility for long-term success.
A global vision with a local agency approach.
Expanding your agencyâs toolkit to survive market shifts.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
An Unexpected Journey from Amazon Seller to E-Commerce Agency OwnerAs an Amazon seller alongside her husband, Alina experienced firsthand the rollercoaster ride of e-commerce - including a devastating low that nearly derailed their dreams. It was during this time that she identified a gap in the market for services that were not being offered in the way she wanted. She saw some things were still missing in the 2017 Amazon landscape and set out to create a service that would address these needs for clients.
After slowly building up her clientele from just a couple of friends to a full team to continue providing services, she found herself having created a business around Amazon sales. It was time to transition from a one-woman show to a structured business and start growing a team.
Bucking the Trend: Choosing Flexibility for Long-Term SuccessWhile her peers rushed to embrace every new technology promising lightning-fast results and the industry pushed for automation at increasingly higher rates, Alina took the opposite stance. Although automation could have helped her grow tenfold, she's made the conscious decision to pump the brakes on this high-speed approach.
The soul of her service lies in its flexibility - a quality she fears would be sacrificed on the altar of full automation. She's not willing to trade the ability to adapt and tailor her offerings for the sake of rapid expansion. Without flexibility, she would not be able to offer efficient services.
Executing a Global Vision with a Local Agency ApproachWhen Alina set out to build her dream team, she knew that the human touch would be her secret weapon. She needed to ensure her clients received top-notch attention in their own time zones while avoiding the pitfalls of language barriers. If clients werenât receiving the right answers to their questions or didnât understand the agencyâs survey and processes, nothing would be ultimately accomplished. This is why she made the unusual and daring decision to hire a US-based team run remotely from Romania.
Furthermore, she was also very conscious about empowering her team from the very beginning. One of the smartest decisions Alina has made was letting her current COO and first hire handle the hiring process of the rest of the team. After that, sheâs been âin the back seatâ as she lets her team take over operations.
It's a transition that many agency owners dream of but few achieve, often finding themselves trapped by their own need for control.
Expanding Your Agencyâs Toolkit to Survive Market ShiftsAlina started her agency with a focus on Amazon-dedicated services, but she quickly realized the need to expand into other areas like press articles and content generation. More than a response to market demand, this diversification was a strategic move to mitigate risks associated with relying on a single service offering.
Her decision to diversify her services highlights the importance of staying agile and responsive to changing market dynamics. In today's fast-paced digital landscape, agencies need to be able to pivot and adapt to new trends and technologies. Alina had in mind after seeing many agencies have to completely reinvent themselves once the market changed and their entire business model went down the drain.
By diversifying their services, agencies can not only capture new opportunities but also protect themselves from sudden shifts in the market that could potentially shut down their business overnight.
Do You Want to Transform Your Agency from a Liability to an Asset?Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.
-
Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training
Are you thinking about an eventual exit from your agency? Curious about how to prepare for selling your agency down the road? Preparing for a potential sale well in advance can be beneficial, even if you ultimately decide to retain your business. Our guest had a clear vision of his goal: to grow his agency while waiting for an opportune moment to sell. He shares valuable lessons on how coaching accelerated his growth and why he wishes he had joined a mastermind group sooner to establish the necessary systems for a successful sale. He shares insights into building a thriving agency and navigating the industry with a strategic approach.
Ronik Patel is the founder of UnlimitedWP, a white-label WordPress Development company recently acquired by the white-label agency and longtime friend of the Smart Agency podcast, E2M Solutions. He shares his journey in the agency space, from starting Unlimited WP to its recent merger with E2M, and discusses the unique approach of productizing white-label services for digital agencies and the inspiration behind it.
In this episode, weâll discuss:
Building a sellable agency from scratch.
The impact of agency peer groups.
Preparing for an agency sale.
SubscribeApple | Spotify | iHeart Radio
Sponsors and ResourcesE2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.
Building a Sellable Agency from ScratchRonik has been in the agency space for eight years, when after completing his masterâs degree in entrepreneurship, he faced the challenges of a failed startup and recognized the need for a venture that required minimal initial investment. While operating an agency is not without its complexities and uncertainties, it offered him the opportunity to launch a business independently and with no capital, allowing him to gradually develop it into a lifestyle enterprise.
However, Ronik's ambitions extended beyond merely creating a lifestyle business; he aspired to build an enterprise with the potential for future sale. To achieve this, he engaged with agency coaches to explore alternative models that would allow for rapid scaling and eventual sale. Inspired by design firms that successfully productized their services, Ronik noted the absence of similar strategies within the agency sector at that time. Determined to innovate, he set out to implement this approach in his own agency.
Accelerating Success: The Impact of Agency Peer GroupsReflecting on his personal journey, Ronik believes that one of the most impactful decisions he could have made earlier was to seek out a mentor and join a mastermind group. His experience has shown that being part of an agency group and learning from industry experts can dramatically accelerate growth and success.
By being part of a community of like-minded individuals, a step he took during his third year of owning an agency, entrepreneurs can gain valuable insights, advice, and support that can help them navigate challenges and make informed decisions.
However, changes donât happen overnight. It took Ronik a couple of years to learn and implement what he learned, so he could have potentially achieved his goals in half the time if he had joined sooner. Ultimately, engaging with others and sharing experiences, helped him gain the confidence to try different things and improve his business strategies.
Moreover, things wonât just happen unless you challenge yourself to actively participate in these communities to reap the full benefits of membership. Ronik stresses the importance of showing up, asking questions, and seeking help when faced with challenges. Being proactive and engaging with other members is the best way to leverage the collective knowledge and expertise of the community to overcome obstacles, find solutions, and achieve their goals.
Building Value for Buyers: Lessons in an Agency Exit StrategyWhen it came time to sell, Ronik didnât have one particular reason to take this step. The timing was right, the offer was just right, and he had always envisioned he would sell at some point.
Outside of just waiting for the right moment, he does recommend preparing for that moment by making a shortlist of potential buyers and initiating conversations with them to understand what they are looking for in a buyout, as well as actively seeking out potential buyers and making introductions early on in the process. By building relationships with potential buyers and understanding their criteria for a buyout, entrepreneurs can better position themselves for a successful sale when the time comes.
Ronik also highlights the importance of understanding where the weightage will go in a potential buyout. He shares his experience of not knowing initially that factors such as the team, revenue, brand, and marketing channels would be crucial in the eyes of the buyer. By knowing this information ahead of time, entrepreneurs can tailor their efforts and focus on strengthening these aspects of their business to make it more attractive to potential buyers.
Ultimately, itâs always good to set up your agency for a possible future exit even if you donât end up selling because it creates freedom either way.
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