Posts Tagged ‘new business’

Is your agency stuck? Drew wants you to get moving!

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

Advice from Drew (McLellan of AMI Fame)

I’ve been talking to agency owners from every edge of the globe. I’m doing this to find out what’s going on in their part of the world and how the pandemic is impacting their agency. Throughout the course of these conversations, I often end up asking about what their plan is for the next 30-60-90 days. I don’t typically get a concrete answer. Or I get a very scattered answer of 153 different tactics. But the most dangerous response I get is when an agency owner tells me that they’re busy, making money, and they really should but they’re afraid to take the action they believe they should take.

The unknown of this pandemic has many agencies and their leaders frozen in place. So instead of hiring, expanding, pivoting or whatever they know they should do — they’re paralyzed. I don’t want to go all science-y on you but it takes more force to get an object at rest to move than it does to keep a moving object in motion. That inertia is harder to overcome than it is to change directions once you’re already in motion.

For many agencies, the financial aid that your government has provided has brought welcome relief. But I fear that it also brought you an excuse to hit the pause button. Under the guise of catching your breath, you’ve allowed the agency to slow down or maybe even stop moving. Take the moment that you need but do not let it stretch beyond a moment.

For the last several weeks I’ve been imploring you to put together 5 mini-plans to keep your agency pushing forward. Any one of those plans will force you to remove any inertia that is threatening to set-in. The combination of them will force you to keep moving. Once you’re in motion, you can shift directions as needed because you’ll already have momentum on your side.

In the next 30 days what is your agency doing to:

• Make sure you deliver every project on-time and on-budget so you don’t whittle away your profit margins?

• Get your team fired-up, better prepared/skilled, and focused on serving clients and delivering ROI every single day?

• Secure your current clients and help them grab marketshare while their competitors are stuck in place?

• Attract new clients who are hungry to take advantage of the opportunities that are found in every economic downturn?

And most important of all — what are you, the agency owner or leader, doing in the next 30 days to create a vision of your agency’s future that you can share with excitement and confidence so that your entire team can rally behind you?

Don’t let yourself get stuck. I’m not advocating you become reckless. But, I am advocating that you believe in yourself and the truth in front of you. For some of you that truth means you should be hiring right now. For others, it means you need to let someone go, regardless of your financial package. For yet others, it means becoming very focused and very motivated to go find the new clients who will appreciate and benefit from a partnership with you.

Get moving — you can adjust the plan as you go.

Where do you lay your head? Consider embedding.

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

Every spring, I put together a list of trends that I think agency owners need to track. I present this content at the spring meetings of the AMI owner peer groups and then later in the summer/fall, I share the trends with my podcast audience (2019 parts one and two). I just finished the deck last week and presented it for the first time today. One of the trends that we talked about in 2019 that has really gathered steam is the idea of embedding an agency employee into the client’s work environment. Many agencies initially offered it to keep a client from taking work in-house but what they’ve discovered is that it’s an amazing biz dev strategy. Remember that 60-70% of your new business goal should come from existing clients and this is a smart way to trigger some of that growth. I don’t have one agency in my world that has an embedded employee that isn’t reporting client growth, new opportunities with other divisions within the company, and a strengthened relationship. It’s definitely a winning strategy for the agencies that have implemented it.

Now that I’ve had a year of studying it from afar, I have some thoughts on best practices around this growing trend. It is not without its pitfalls, if you make some wrong turns.

  • This is a premium product — having your AE on-site in their environment — so price it accordingly.
  • Think long and hard about who you choose to embed. It’s easy for them to begin to feel more like your client’s employee than the agency’s employee. You want someone who is very committed to your agency’s success.
  • Do not allow them to work onsite at the client’s office more than 3.5 days a week. You need them to spend time back at the agency, staying connected to the team and being reminded where they actually work.
  • Have a very well-written non-compete and non-solicitation clause in your contract with the client so they cannot “woo” your employee away.
  • Have a very well-written non-solicitation, no stealing clients clause in your contract with the employee so they can’t branch out on their own or offer themselves to another agency with the promise of delivering your client in the deal.

There is a lot of upside to this idea but be mindful of the risks and protect yourself accordingly. In 2018, I saw a handful of these arrangements. In 2019 — it went up significantly. I am seeing agencies of all sizes, in both the B2C and B2B space, offering this to clients. It’s not going away anytime soon so you should probably decide how you feel about it and if it might make sense for your shop!

A contribution from our friend Drew McLellan at AMI

 

What Would Shakespeare Call a Sales Person?

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

I’ve always said and tried to explain that agency people are not necessarily or naturally “new business” people. Most agency folks are trained in creative disciplines and even to this day, seldom do university curriculums offer anything that even touches on sales or “selling.” Regardless of what someone says, even in this new age, selling is a dog-eat-dog business. Maybe it’s done with a little less angst; maybe it’s a bit more polite, but I would describe it today as misdirected and lacking in focus.

My business friend Blair Enns has been guiding agencies for years, and in his post today, and in his words, goes to greater detail in what I am referring to above. I doubt Shakespeare could do better. See if you agree.

A Target Audience of One

There is a woman. I see her clearly. She is an artist, a creator. It is her passion.

At some point she decides to make her passion her business. She opens a design firm. Owning a business demands other responsibilities of her. Now she must sell as well as create.

I see her standing in a room of people who are judging her work. Because her work is also her art, she is vulnerable. She does not see herself as a natural salesperson. Most of the advice she gets on this subject grates on her, or is laden with beguiling, debilitating conventions that cause her to feel even more vulnerable.

The business that is Win Without Pitching is built around helping this one person conquer this one situation. We teach creators how to sell. We empower them to stand up for themselves, to push back on the conventions that say they must first give their art away for free, and we help them to triumph in one of the most stressful situations in business.

Just as often, the woman is a man and the design firm will take a different form of creative practice, but I try to conjure in my mind a vivid image of the artist-business owner who must pass the test of selling in order to keep bringing her gifts to the world. I want to help her. I want my team to be heros to her.

I don’t know what other sales trainers or consultants see or even do. I don’t know or judge their motivations. All I know is, if, in our careers, we can help her and many more just like her then that will be enough for us.

In the Win Without Pitching program we have owners of other types of businesses beyond just creative firms, but they’re not with us because we pursued them. They’re here because, for reasons that are entirely their own, they identify with the artist-business owner and therefore our message resonates with them, too.

While I, too, identify strongly with this person I see so clearly, I am not her. You do not have to be your target audience of one, but you do have to have an enormous amount of empathy for her. I am not a designer, but I have huge admiration for all creators. I believe these people were born into their craft or called to it.

Let someone else help the natural salespeople, and let others help our artist with other areas of her business. This one thing for this one person we will do and we will do it better than anyone. If others find resonance in this they will be welcome, but we will stay resolutely focused on solving this problem for this person.

Against this certainty, this vivid picture, all of our big business questions become easy, their answers obvious and unavoidable.

How much confusion and inertia could you eliminate by simply answering the question, to whom are you going to be a hero?

There is a man. Can you see him clearly?

Blair Enns
Win Without Pitching
202 B Ave #454
Kaslo, BC V0G 1M0
+1.250.353.2591

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