Build a Better Agency Podcast

Michael Farmer grew up in the Midwest and was the first child in his family to go to college. He went to Princeton on an NROTC scholarship and worked at various jobs to pay the difference. After that, he spent 5 years as a naval officer, 3 years at sea, and 2 years teaching NROTC at Iowa State University. Then he was off to Harvard Business School and a one-year research assignment writing cases and teaching marketing in Lausanne, Switzerland. He then joined some consulting firms and worked all over the globe. Eventually, he ended up at Bain & Company where he spent three years in Boston, and then nine years in London, Munich, and Paris. Bain then started his own consulting firm, Farmer & Company, specializing on solving agency / advertiser problems. He stayed in London until 2001, and then returned to the States and continued his work. He wrote Madison Avenue Manslaughter between 2009 and 2015, and the book was published in 2015. What you'll learn about in this episode: Some of the big problems agencies face today Why the future is bright for small to mid-sized independent agencies Why your agency needs a uniform approach for working with clients and an example of what that looks like The documented scope of work document: what should this look like? Why it's harder than ever for agencies to make money Michael's "price for the work" metric Creating accountability with client heads Why agencies probably will have an easier time fixing scope of work than they think What agencies can do right now to start fixing some of these mistakes Ways to Contact Michael Farmer: Website: farmerandco.com Twitter: @farmerandco Email: mfarmer@farmerandco.com LinkedIn: www.linkedin.com/in/michaelfarmer Book: "Madison Avenue Manslaughter" We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Drew McLellan is the Top Dog at Agency Management Institute. He has also owned and operated his own agency over the last 20-years. And all through the year, he straddles the fence of working in his agency and working with 250+ small- to mid-size agencies in a variety of ways. 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 a lot of agencies every year — he 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, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog "One of 10 blogs every entrepreneur should read." What you'll learn about in this episode: Gross Billings vs. Adjusted Gross Income How agencies lose money when pricing Why scope creep leads to little or no profit Why your agency needs to issue change orders and how to turn this into a process Why you need to use the one page business plan How to know if you need a better new business plan (hint: you probably do) Why you need a tax advisor not a tax preparer Ways to contact Drew McLellan: Email: drew@agencymanagementinstitute.com We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Jason Swenk shares how to scale and sell. If you got a call with an offer, would you be ready? It happened to Jason Swenk. But, he had a plan and shares the details in this episode of Build a Better Agency. Jason Swenk calls himself the defender of truth, justice, and effective business practices. 16-years ago, he founded a digital agency and they worked with clients like AFLAC, AT&T, Coca-Cola, and LegalZoom. He sold that agency and is now working with agencies, teaching them to use cutting-edge business strategies to defend themselves against the competition. His website, www.jasonswenk.com, has a plethora of information dedicated to educating agency owners including Agency Insights, his weekly newsletter. What you'll learn from Jason Swenk during in this episode: How Jason prepared his agency for sale The importance of systems inside an agency What to do when the systems you put in place make you nonessential for day-to-day operations Lead generation: why Jason believes this is the biggest pain point for agencies and what can be done about it How agencies can deliver exceptional value to clients willing to pay a premium price and how to get those clients in the first place How to recognize which clients to seek out and which to avoid Jason's "Agency Playbook" Things agencies do to get in their own way Agencies and niche: why you need to start very, very small What can agencies do right now to take action on the ideas in this episode

Joe Pulizzi is the founder of Content Marketing Institute, the leading education and training organization for content marketing, which includes the largest in-person content marketing event in the world, Content Marketing World. Joe is the winner of the 2014 John Caldwell Lifetime Achievement Award from the Content Council. Joe's fourth book "Content Inc." was just released. His third book, "Epic Content Marketing" was named one of "Five Must-Read Business Books of 2013" by Fortune Magazine. What you'll learn about in this episode: What agencies and clients need to do to develop a content marketing strategy that actually succeeds Why you need to focus on your email list more than people you are connected with on social media How agencies can leverage their own content better Why you need to focus on content in specific platforms over trying to be everywhere What differentiates the agencies that do content marketing extremely well Old school deliverables that still work today Why you need content marketing mission statement Why the editing process is a crucial part of content marketing The ways smart agencies get smart enough to create valuable content Things agencies can do right now to get the content marketing techniques discussed in this episode rolling Joe's events Ways to Contact Joe Pulizzi: Twitter: @joepulizzi Website: content-inc.com Website: epiccontentmarketing.com Website: contentmarketinginstitute.com Event: www.intelligentcontentconference.com Event: www.contentmarketingworld.com We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Donya Powell has been a CPA and consultant for 23 years in the advertising/marcomm industry. She learned the industry working as a contract CFO for an agency early in her career and continues to serve as a remote CFO for agencies today. She has worked through several merger and acquisition deals with agency clients as she consults with agencies across the US on operations, agency compensation agreements, merger and acquisitions and succession planning. What you'll learn about in this episode: Misconceptions agency owners have about the value of their agency Donya's spreadsheet for assessing your financial picture during retirement Understanding your agency's normalized EBITDA (earnings before interest, taxes, depreciation, and amortization) Factors that severely impact your agency's value in a negative way What you may need to change in your agency's books Things on the financial statement that agency owners often ignore that they really need to pay attention to What financials agency owners should be looking at every week, month, and quarter Budgets: can modern, project-based agencies use them? Mistakes agencies make in regards to taxes and tax strategies to take advantage of How to know if your agency is structured as a corporation in the correct way Things to think about when planning the selling your agency Factors that play into an agency sale falling through Things agency owners can do right now to start improving their agency's financial health with the idea of an eventual sale Ways to Contact Donya Powell: Email: donya@consultiium.com Phone: (303) 932-1193 Resources: AMI Monthly Financial Report (Mac) AMI Monthly Financial Report (PC) We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Don Beehler has worked with news media from local to international levels and has won numerous professional awards throughout his career. He also has co-authored or ghostwritten three books for clients and has a blog called The Art of Telling Your Story. What you'll learn about in this episode: The dramatic changes PR has seen over the years How agencies can use PR as a strategic tool to drive new business How to determine what stories to pitch Ways you can become discoverable so that reporters can find you The kind of news that is truly newsworthy for agencies Why you shouldn't think about using PR with the expectation that people will write stories about your agency How agencies can get the right kind of attention Incorporating PR into your business plan How to correctly use PR in relation to speaking engagements How to use Google Alerts to capitalize on PR opportunity The steps to take right away to boost your PR Ways to Contact Don Beehler: Email: don@abcdcommunications.com Website: www.donbeehler.com We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Drew McLellan is the Top Dog at Agency Management Institute. He has also owned and operated his own agency over the last 20-years. And all through the year, he straddles the fence of working in his agency and working with 250+ small- to mid-size agencies in a variety of ways. 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 a lot of agencies every year — he 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, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog "One of 10 blogs every entrepreneur should read." What you'll learn about in this episode: The employee shortage: why it's happening right now What agency employees want most (and how to use this to attract and retain them) Things that will cause employees to leave The best benefits you can offer to attract and retain employees How you can compete with the corporate world for employees Why you need to be actively looking for employees, even if you don't need them right now Ways to contact Drew McLellan: Email: drew@agencymanagementinstitute.com We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Gareth Kay is a strategist by trade. He's co-founder of Chapter, a creative business partner dedicated to solving the wicked problems facing pioneering businesses. Prior to setting up Chapter, Gareth was Chief Strategy Officer and Partner at Goodby, Silverstein and Partners and the Head of Planning at Modernista! In his decade in the US, Gareth has led strategy on brands including Google, Cisco, TD Ameritrade, the NBA, General Motors, the Bill and Melinda Gates Foundation. and (RED). What you'll learn about in this episode: Gareth's decision to venture off and start Chapter What makes Chapter truly unique How to build a business model and hire employees when the work you do is very diverse Becoming a client's partner through absolute transparency How to generate new business when you're in the project based business Creating ideas and solutions vs creating "stuff" How Chapter develops and retains its staff The importance of transparency with your employees How Gareth's perspective has changed since making the jump into ownership Things agencies can do to move away from widget sales to selling ideas and problem solving Ways to Contact Gareth Kay: Twitter: @garethk Company Twitter: @chaptersf Email: gareth@chaptersf.com We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support

Rohit Bhargava is a non-obvious trend curator and an expert in helping brands and leaders be more influential. He is the Wall Street Journal bestselling author of five books on topics as wide ranging as the future of business, building a brand with personality, and why leaders never eat cauliflower. Rohit has advised hundreds of global brands as the Senior Vice President of Global Strategy & Planning at Ogilvy and with his own firm, Influential Marketing Group. He also teaches marketing at Georgetown University. A two-time TEDx speaker, Rohit has keynoted events in 31 countries and is regularly featured as a marketing expert by media such as The New York Times, Harvard Business Review, and NPR. What you'll learn about in this episode: Working as a solopreneur vs. working in an agency Rohit's trend report that started as a blog post Habits for being a trend spotter Big trends for 2016 VR: How Virtual Reality can become important to agencies Data overload: what will happen when all the data available to different parties eventually gets pooled together? Understand your clients' true needs and becoming their true partner Architecting an Innovation Day to open up your clients' wallets How to teach trend-creating thinking to employees coming out of college Ways to Contact Rohit Bhargava: Website: www.rohitbhargava.com LinkedIn: www.linkedin.com/in/rohitbhargava Twitter: @rohitbhargava "Non Obvious" Book Website: nonobviousbook.com More Books: www.rohitbhargava.com/books-publications We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Tom Martin, author of "Invisible Sale," has been in the agency life for many years. He has spent 20 years driving new business for agencies. In 2010, he created Converse Digital, an agency that focuses on doing business differently. What you'll learn about in this episode: How new business has changed over the years Why clients no longer believe in hiring just one agency How to define your value to your clients when delivering ideas instead of "stuff" Correctly positioning your agency in the days when your client first discovers you Painless Prospecting: how to get great leads to find you Can Painless Prospecting work for generalists? The risks of delegating the Painless Prospecting process What your content has to do for your Painless Prospecting process to work Why giving away your secret sauce is never going to implode your business Tom's propinquity theory on marketing today What you can do right now to get started on the business development path discussed in this episode Ways to Contact Tom Martin: Website: www.conversedigital.com Twitter: @TomMartin Book: "Invisible Sale" We're proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!