The Agency Leadership Podcast provides insights for agency owners and executives. Co-hosts Chip Griffin and Gini Dietrich share practical advice and industry news relevant to PR and marketing agency leaders.
Subsidizing agency pricing by overworking employees
Agency employees consistently complain about being overworked. Many of us started out in the agency world with our managers expecting us to work 60-hour weeks.
This culture of overwork doesn’t come about because owners and managers are sadistic. It’s because too often agencies fail to price their services correctly.
If agencies price work fairly, then there is no need for team members to work excessive hours. If agencies set reasonable client expectations, all-nighters should be the exception, not the rule.
In this episode, Chip and Gini discuss this challenge and why it is so important for agencies to improve their ability to estimate costs and set prices correctly to avoid burning out employees.
Beware of the experts
Chip and Gini are experts at growing PR and marketing agencies. But you should take everything that they say with a grain of salt.
No expert has all of the right answers all of the time. Not every piece of advice is a good one for you to take — even if it may work for 99% of other people.
When you’re looking for ideas and perspective, experts can certainly help. But you need to evaluate everything through your own lens. How closely does that person’s experience and outlook reflect your own?
As a general rule, any time you hear some piece of advice that sounds too good to be true (4-hour work week, anyone?) … it probably is. Even in bad advice you can still take away nuggets, but if you think that someone has the silver bullet to solve your challenge or maximize your opportunity, you’re probably going to be disappointed.
So continue listening to the Agency Leadership Podcast to get some wisdom from Chip and Gini. But be prepared to toss it out if it doesn’t make sense for you and your business. And do the same with every piece of expert advice you get anywhere.
Skinny jeans, delegating work, and leading business development
This episode is a simulcast of a recent Small Agency Talk Show segment featuring Chip Griffin and Gini Dietrich. The show airs at 12 PM ET every Friday on YouTube at SmallAgency.TV.
Chip and Gini take a brief detour on the topic of skinny jeans before getting into the meat of the show.
They talk about how an agency owner can transition themselves out of day-to-day client work, as well as who should be in charge of business development in a small agency.
Ideas for agency lead generation
Many agency owners tell us that they can close business as long as they get in the room with the right prospects. They’re confident in their abilities and the skills of their teams.
But how do you get those right prospects in the room (or on the Zoom)?
That’s what Chip and Gini tackle in this episode.
Handling inherited activities with new clients
When your agency starts working with a new client, chances are they have some existing activities already underway. They have a way of doing things that you need to become part of — or change to make it more to your liking.
In this episode of the Agency Leadership Podcast, Chip and Gini talk about what happens when you find something that goes against your strategic and tactical judgement.
They look at a real-world example of an agency who found a contractor using a content and social media strategy that seemed nonsensical on the surface. But what might the new agency learn from the existing practices that might help them work more effectively for the client?
What to do when you are preparing to sell your agency
Most PR and marketing agency owners have thought about the possibility of selling their business someday.
But what should you be thinking about today if that’s an outcome you might want to achieve?
Chip and Gini talk about some of the things to focus on, as well as the potential pitfalls on the road to a sale.
* Exiting Your Business the Right Way by Rick Gould* Five Ways to Prep Your Agency for Sale (Spin Sucks article by Drew McLellan)
* 0:00 Intro * 2:58 Resources * 3:50 When to sell * 5:25 Earn-out and owner’s role * 8:15 Make yourself less essential* 9:18 Positioning your agency * 11:12 Client concentration problem * 12:30 Agency finances * 19:05 Expect surprises * 22:45 Timing of the sale * 24:50 Life-changing money? * 26:25 Post-sale control * 28:50 Outro
This is a program I look forward to each week. With each episode I'm learning new things or being reminded of things I know but should be paying more attention to in my day-to-day. It's a terrific guide for any agency owner looking to grow revenues and build stronger businesses.
The Insight You Need To Run an Agency
I'm biased, I've followed both of the hosts' work so I know what they bring to the table. Worth listening to.
This podcast really fills a void. There are so many best practice marketing & comms podcasts out there. Great to see a show that focuses on the business side of running an agency. This will now be one of my must listen to podcasts.