Build a Better Agency Podcast

Most agency owners hope to sell their agency someday down the road. If that's you, understanding how agencies are valuated today will help you maximize that opportunity whenever it comes. Even if you aren't interested in selling, you can and should still be beefing up your agency's value. Gina Cocking joins us for this episode to provide an investment banker's perspective on the valuation and sales process. She'll walk us through the key items investment firms look for in your agency's valuation and explain the technical numbers-side. She'll also help us identify ways you can add value in advance. Gina is managing director and partner at Colonnade Advisors, a boutique investment banking firm that specializes in mergers and acquisitions in the business services industry. Colonnade has helped many agencies buy and sell, so Gina understands what it takes to help agency owners get the most out of their purchase deals. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: A glimpse inside the process of selling your agency How Colonnade Advisors represents business owners selling their companies The importance of enterprise value, recurring revenue, and client relationships when you sell your agency How your key employees factor into a purchase deal The various elements that increase or diminish an agency's value in the marketplace How to approach the numbers-side of selling your agency Ways to Contact Gina Cocking: Website: www.coladv.com LinkedIn: https://www.linkedin.com/in/ginacocking/ https://www.linkedin.com/company/colonnade-advisors-llc_2/ Facebook: https://www.facebook.com/pages/Colonnade-Advisors-LLC/308550405834700

Maybe it's my age, but there's a lot more talk about the importance of strengthening my core, to improve balance and stability. The same is true for our agencies. Our reality is always a bit unstable and we often expend a lot of energy anticipating the next storm. But if your agency's core is strong, you can rest a little easier, knowing you can weather whatever comes. Just like you have for years. We forget how much we've already accomplished and survived when we're heads down all of the time. Recently, there has been a bit of an undercurrent of worry and tension in some of my conversations with agency owners, so I want to tackle that. In ep. 210 we talked about how even on our worst days, life as an agency owner is pretty darn good. In ep. 215, I gave you some action steps to take to recession-proof your agency. And in this episode, I walk you through some ways to strengthen your agency's core so you can approach 2020 with confidence and courage. You and your agency are survivors. Let's set you up to take full advantage of whatever rocks the boat – good news or bad. Because if there's one given in agency life it's that there will be a bit of both! A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in this Episode: How to deal with your worries so you can approach 2020 with confidence and courage How to strengthen your agency's core How to take full advantage of the gratitude you have for being an agency owner The importance of mentorship and one-on-one time with your employees How to love your clients in bigger, bolder ways Why your agency should serve your life, not the other way around AMI works with agency owners by: Leading agency owner peer groups Offering workshops for owners and their leadership teams Offering AE Bootcamps Conducting individual agency owner coaching Doing on-site consulting Offering online courses in agency new business and account service Because he works with those 250+ agencies every year, Drew has the unique opportunity to see the patterns and the habits (both good and bad) that happen over and over again. He has also written two books and been featured in The New York Times, Forbes, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog "One of 10 blogs every entrepreneur should read."

There was a time when you spent most of your time learning your craft. Whether it was account service or art direction or biz dev – you had to develop the skills to do your job well. There's no doubt that our world demands on-going education so we can continue to serve our clients. But at this point in your career, you have the luxury of focusing on something a bit deeper — developing yourself as a leader, professional, and human being. That's why I love John Jantsch's new book The Self-Reliant Entrepreneur so much. It invites us to do just that. John has always been about teaching small businesses how to do marketing. His previous five books were all how to guides for everything from selling, using referrals to grow your business, and SEO. But this latest book offers no step by step instructions. In fact, it's sort of the opposite. It's a book about you discovering answers to bigger questions that can't come with an instruction manual. Each of the 366 chapters is comprised of a quote from a literary great, a reflection by John on the day's topic (anything from limited beliefs to seizing risk) and then a thought-provoking question. You can consume the book in one big gulp or you can sip it throughout the year. In this episode of Build A Better Agency, John and I chat about why he made the dramatic shift in writing purpose and style, how he got the book done and how he recommends readers squeeze the full value from the book. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: About John's new book and why he chose to write a "why to" rather than another how to How to invest in yourself and how that growth can serve your agency The book writing process for "The Self-Reliant Entrepreneur" How to use John's book to become a stronger, more centered agency leader Subscribe to Build A Better Agency! Book: https://www.amazon.com/Self-Reliant-Entrepreneur-John-Jantsch/dp/1119579775 Website: www.ducttapemarketing.com Facebook: https://www.facebook.com/ducttapemarketing LinkedIn: https://www.linkedin.com/in/ducttapemarketing/ Twitter: @ducttape

Have you ever wished that you had a team member dedicated to helping manage your day, your email, your commitments, and your goals? When we have someone in the office, they often get usurped by other teams or the crisis of the day. That's one of the many advantages of working with a virtual assistant. Many agency owners are enjoying added productivity and peace of mind that comes with someone always having their back thanks to their VA! My guest Jess Tyson takes a people-first approach to virtual assistant matchmaking. She facilitates the connection and establishes a professional relationship so you can start delegating and focusing on your highest priorities.. Jess is also the author of Panic Proof: How the Right Virtual Assistant Can Save Your Sanity and Grow Your Business, a speaker, and the Director of Calm at Don't Panic Management. In this episode of Build a Better Agency, we talk about how virtual assistants can help you get your calm on. VAs are a flexible commitment that ebbs and flows with your agency. Most agency owners I know use VAs to increase their efficiency and effectiveness, and VAs can become trusted members of your team if you approach the relationship the right way. It's an option worth considering and my goal with this episode is to broaden your sense of what's possible with a VA by your figurative side! A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: How Jess's new operations audit can help people figure out where to best spend their time and relegate, automate, or delegate the rest How VAs work and how the relationships are structured What Jess looks for as she searches for a client's VA The advantages of hiring a virtual assistant over a traditional admin Why agency owners need to delegate How a VA can manage your biggest time-suck; emails Ways to Contact Jess Tyson: Website: https://www.dontpanicmgmt.com/ Twitter: @jessostroff LinkedIn: https://www.linkedin.com/company/don't-panic-management-llc/ Facebook: https://www.facebook.com/dontpanicmgmt

Like every other consumer, your prospects go on a wild and winding journey as they consider whether or not they want to hire an agency and then go about finding that perfect partner. It's amazing to me that many agencies teach their clients about buying journeys and yet don't really understand what their prospects go through as they go to market. Robin and Steve Boehler are the principals at Mercer Island Group and every day, they help brands find that perfect agency partner. They have a unique lens into the emotional roller coaster that prospects ride on their way to hiring an agency. They've spent the last few years documenting this journey and now they're ready to share it with all of us so we can win at each of those milestones. That's why I've asked Robin back to the podcast, as my first three-peat guest! The Boehlers are just that smart! Take a listen and get a taste of what Robin and Steve have learned through their work with many clients, all on unique but similar journeys that will give us clues on how to win our next sweet spot prospect. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: The importance of understanding and anticipating your prospects' buying journeys The emotional elements in the prospect's buying journey How to help a prospect mitigate the risk they face when switching to a new agency How to get visibility with your prospects before they're ready for a change How to make a lasting impression that helps your agency stand out Ways to Contact Robin Boehler: Website: Website: www.migroup.com Phone: 206.236.0447 Twitter: @mig_robin

There are very few agencies today who aren't trying to solve the content challenge. The content creation process is complicated and it's often difficult to demonstrate the ROI to clients so they will pay you what it takes to actually create something worthwhile. Clients want high performing content but aren't excited about paying for it. And it can be tough for us to document and demonstrate what's working and what isn't. At this summer's MAICON (Marketing AI conference) conference, I met Jeff Coyle, the co-Founder and Chief Product Officer for MarketMuse. Jeff and his team are doing incredible work with AI to help agencies and brands better understand how content is performing, what content is missing and how to fill those gaps in a way that is SEO and visitor friendly. Technology and traditional content production methods are merging, and that's creating a whole new level of measurability, predictability and performance metrics that can justify the spend. What would take us hours to number crunch and calculate can take tools like MarketMuse mere seconds. Join me as I explore the possibilities with subject matter expert Jeff Coyle. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: The evolution of content marketing How Jeff Coyle is bringing AI and traditional content production methods together New tools and insights that agency owners can leverage to create more impactful content Creating content that has direct conversions Why you should be updating your content Ways to Contact Jeff Coyle: Website: https://www.marketmuse.com/ Twitter: @jeffrey_coyle

For the last decade, I have been living in the perfect home. I love everything about it— from the size and layout to its waterfront location. I thought I would never move again. But everything changed when I adopted my charcoal lab puppy, Heather. Heather is about four months old right now and she already exceeds the 30lb weight limit for pets, according to our homeowner's association. It's safe to say she's not getting any lighter, so we don't have any choice but to pack up and move. Change is a part of life and yet even though it keeps happening, it's uncomfortable. We don't seem to get used to it. We get settled into a direction or path. And suddenly, an unanticipated event triggers change that we weren't prepared for or can't control. In my case – this is change I triggered and I can control. But it's still unsettling and disruptive. I know most of you are feeling unsettled right now too – because of the economy, which is out of all of our control! Many agency owners are feeling stuck in a state of flux right now, when it comes to the economy. Every day an agency owner brings up the potential economic downturn and admits that they're anxious because we don't know if it's coming, when it's coming, or how bad it will be. Let's take control of this uncontrollable situation by adopting the best offense is a strong defense stance. In this solocast episode of Build A Better Agency, I am going to walk you through some things you can do to protect yourself IF a downturn or recession is coming. And even if it's not – this will make you stronger as you enter the new year. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in this Episode: How to prepare yourself and your agency for change How to balance your client roster during an economic downturn How to manage your agency finances during a recession How to strengthen your biz dev program for an economic downturn Drew McLellan is the CEO at Agency Management Institute. He has also owned and operated his own agency since 1995 and is still actively running the agency today. Drew's unique vantage point as being both an agency owner and working with 250+ small- to mid-size agencies throughout the year gives him a unique perspective on running an agency today. AMI works with agency owners by: Leading agency owner peer groups Offering workshops for owners and their leadership teams Offering AE Bootcamps Conducting individual agency owner coaching Doing on-site consulting Offering online courses in agency new business and account service Because he works with those 250+ agencies every year, Drew has the unique opportunity to see the patterns and the habits (both good and bad) that happen over and over again. He has also written two books and been featured in The New York Times, Forbes, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog "One of 10 blogs every entrepreneur should read." Ways to contact Drew McLellan: Email: drew@agencymanagementinstitute.com LinkedIn: www.linkedin.com/in/drewmclellan Website: https://agencymanagementinstitute.com/ Tools & Resources: Manual Time Tracker: https://timeular.com/ Mini Audit: https://www.dontpanicmgmt.com/mini-audit/ Billing Utilization Calculator: https://agencymanagementinstitute.com/onthetable/ Workshop Calendar: https://agencymanagementinstitute.com/advertising-agency-training/workshop-calendar/ AGI Forms: https://agencymanagementinstitute.com/agiforms/

You are agency owners, not career keynote speakers. But that does not mean you don't earn your living as a presenter. You present every day of your professional lives. You hold one-on-one meetings in your office and lead all-agency meetings. Some of you are speaking at conferences and tradeshows as well. By sharing your expertise, teaching, and demonstrating that you know your stuff, you will create biz dev opportunities that start deeper in the funnel. It doesn't matter if public speaking is a strength or a source of anxiety, it is a learnable skill where craft outranks natural talent. My guest Michael Port has written six best-selling books including Book Yourself Solid and Steal the Show. He has spent the last several years developing and honing the company he co-owns with his wife Amy, Heroic Public Speaking (HPS). HPS conducts training programs for speakers of all walks of life. When I think about great public speakers that are commanding top fees for keynoting, almost all of them have gone through some level of training with Michael and Amy. But they also train people who will never step on a formal stage, but just want to present their ideas in a more compelling way. The people who go through the HPS program develop confidence and the ability to command an audience. Michael joins us on this episode of Build a Better Agency to talk about the art and science of presentation. He explains how we can use it to serve our agencies, our teams, and our clients in bigger, better ways. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: You are presenting and public speaking every day Why speeches are an unrivaled biz dev opportunity Michael Port's story, and the work he and his wife Amy are doing with Heroic Public Speaking Why presenting is a combination of art and science How mastery of public speaking will enable you to become a more effective agency owner Ways to Contact Michael Port: Website: https://heroicpublicspeaking.com/ Twitter: @michaelport

With so many people that have yet to join us on the show, I very rarely ask someone to come back on. But Tamsen Webster is an exception. You may remember episode 61, where Tamsen joined us to talk about speaking at conferences and tradeshows as a biz dev strategy. This time, we are going to take a different tack because Tamsen has been pretty busy since we last spoke. Every day, I talk to agency owners who struggle to see what differentiates them from their competitors. They fail to recognize their unique reflection in the mirror. Tamsen has developed a methodology for identifying what sets you apart, which is one of many things that we cover in this episode of Build a Better Agency. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: Why it is difficult for agency owners to recognize what makes them unique Tamsen's methodology for identifying what sets your agency apart How to use Tamsen's process internally and with clients How Tamsen designed her system and why it works Ways to Contact Tamsen Webster: Website: www.tamsenwebster.com Twitter: @tamadear

Every business is struggling to be seen and heard. They spend a lion's share of their budget fighting to find an audience. Sometimes, it doesn't have to be that hard. They are often overlooking an incredible resource. Their own employees. Employees can be some of the best advocates for any business; especially with the right system in place. They know the company inside and out, they talk to current and prospective clients about it and, if they love their work and their employer, they probably share that love when they get the opportunity. What if you could amplify that critical voice for your clients and help them create a program that encouraged their employees to shout it from the rooftops? Glenn Gaudet, the CEO of GaggleAMP, founded his company with this idea in mind. GaggleAMP helps companies get the most out of their social media efforts with solutions that help amplify their efforts through employee engagement and interaction. In episode #209 of Build a Better Agency, Glenn and I discussed employee and brand advocacy at length. We talked about incentivizing employees to engage with their company's social media, recognizing employees as influencers, using advocacy from raving customers and channel partners, and so much more. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here: https://www.whitelabeliq.com/ami/ What You Will Learn in this Episode: What employee advocacy is and what it looks like in practice How to market employee advocacy strategy to employees and clients Implementing and evolving employee advocacy programs The myriad benefits of the different kinds of brand advocacy Specific strategies to incentivize employee advocacy Common pitfalls when approaching advocacy programs The mission of Glenn's company, GaggleAMP Ways to Contact Glenn Gaudet: Website: https://www.gaggleamp.com/ Podcast: www.gaggleamp.com/build