Creative Agency Success Show

“Clients don’t want to ask us for new ideas; they want us to come to them with new ideas.” Hannah Hood

The finer details of this episode:

●       Shortening of the sales cycle indicating a positive shift in the industry

●       Trend of clients seeking specialized services from agencies

●       Emphasis on the need for agencies to specialize and market their expertise effectively

●       Importance of being proactive in presenting new ideas to clients and pricing services based on value

●       Significance of building trust with clients and maintaining long-term relationships

●       Communication of the value of agency services effectively

●       Strategies for navigating the evolving landscape of the agency industry

Episode resources:

●       Summit Virtual CFO by Anders website: https://www.summitcpa.net/

●       Love our content? Sign up for our newsletter: https://www.summitcpa.net/summit-newsletter

●       Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc

●       https://www.linkedin.com/in/hannahchood/

Timestamps:

The welcome (00:00:00)

Introduction and purpose of the podcast episode.

Hannah's agency events (00:00:14)

Discussion about Hannah's experiences at agency events and their importance.

The Build Better Agency Summit (00:00:53)

Highlights from the Build Better Agency Summit and the value of attending such events.

Impact of COVID on the industry (00:01:52)

Discussion on the industry's recovery from the impact of COVID-19 and changes in client behavior.

Shift in client needs and agency specialization (00:05:22)

Insights into the evolving client needs and the importance of agency specialization.

Value-based pricing and client relationships (00:08:20)

Importance of value-based pricing, building client trust, and maintaining long-term relationships.

Pricing strategies and advice (00:12:22)

Insights into pricing strategies, price pressure, and the importance of building trust with clients.

Post-event reflection and team communication (00:16:10)

Recommendations for post-event reflection and team communication to share insights and implement learnings.

Denver Experience (00:17:55)

Discussion about the food, weather, and environment in Denver, and the impact of altitude on the speaker's health.

Effects of Altitude (00:18:30)

The speaker's experience with altitude sickness and the importance of drinking water at high altitudes.

Dryness and Humidity (00:18:54)

The impact of dryness and high altitude on the body, and the need to stay hydrated in such conditions.

Future Plans (00:19:43)

Plans to visit Denver again, and the possibility of meeting up with the hosts for dinner during the next visit.

Appreciation and Conclusion (00:20:00)

Thanking the guest for sharing information and experiences and expressing gratitude for the opportunity to participate in events.

Episode Notes:

“Delegation is challenging; it requires a lot of thought process and a lot of preparation. But you shouldn’t try to do everything on your own; use your team. Delegation is about giving them enough information so that they know what the end goal is.” Vicky Brown

The finer details of this episode:

• Importance of supporting managers and helping them grow their leadership skills
• Challenges of delegation and setting boundaries in leadership roles
• Emphasis on teamwork and collaboration within a business
• Creating a culture of trust and open communication within the organization
• Understanding implications of being a multi-state employer

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Love our content? Sign up for our newsletter: https://www.summitcpa.net/summit-newsletter
• Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc
• www.idomeneoinc.com
• https://www.linkedin.com/in/vicky-brown-4160061
• Morehumanmoreresources.info/podcastgift

Time stamps:

HR conversation (00:00:14)

The conversation covers the broad scope of HR, including coaching, delegation, and more.

Introduction of Vicky Brown (00:01:42)

Vicky Brown introduces herself as an HR professional and shares her background in opera singing.

Vicky's company and clients (00:02:24)

Vicky talks about her HR consulting company, Dominion Enterprises, and her range of clients.

Transition from opera singing to HR (00:04:24)

Vicky shares her transition from an opera singer to an HR professional and the challenges she faced.

Services provided by Vicky's company (00:07:32)

Vicky explains the comprehensive services her company offers, including regulatory compliance, benefits, and payroll administration.

Employee relations and manager coaching (00:08:27)

Vicky emphasizes the importance of employee relations and coaching managers to enhance leadership skills.

Delegation challenges (00:10:30)

Vicky discusses the challenges of delegation and the need for proper training and trust in the delegation process.

Setting boundaries for delegation (00:14:08)

The discussion addresses the need for clear boundaries and healthy communication in delegation, especially between leaders and team members.

Preparation for effective delegation (00:18:15)

Vicky emphasizes the importance of preparation and effective communication in the delegation process.

The importance of team collaboration (00:20:28)

Discussing the value of incorporating the team's input and perspective into decision-making processes.

Delegating responsibilities in a leadership team (00:21:22)

Exploring the role of a leader in delegating tasks and allowing team members to contribute their expertise.

Creating a culture of trust and collaboration (00:22:43)

Emphasizing the significance of fostering an environment of trust and open communication within the team to create a positive work culture.

Strategies for effective collaboration (00:23:21)

Discussing the approach of setting goals and strategies, and the importance of open communication and feedback in the collaboration process.

The role of leadership in shaping organizational culture (00:25:34)

Exploring how leadership

Sales is the engine of any agency, but oftentimes it's the hardest part to grow and scale when you move from a founder-centric shop to a full marketing organization. The clips in this episode offer some of the best pieces of advice our hosts of the Creative Agency Success Show have gathered, provided to you in bite-sized form, so that you can digest and try your favorites.

The finer details of this episode:

• Who makes a good salesperson? -- with Diane Helbig
• How to warm up your cold calls -- with Nikki Rausch
• What to do when owners hate sales? -- with Karl Sakas
• 9 steps to speedier sales -- with Simon Severino
• How a product catalogue helps the sales process -- with Joe Ardeeser

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Love our content? Sign up for our newsletter: https://www.summitcpa.net/summit-newsletter
• Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc
• Full episodes included in the podcast:
  • RETHINK YOUR SALES APPROACH with Diane Helbig
  • SELLING FOR ACCOUNTANTS with Nikki Rausch
  • HOW AGENCY OWNERS CAN WORK LESS AND EARN MORE with Karl Sakas
  • STRATEGIES FOR MANAGING LONGER SALES PIPELINES with Simon Severino
  • STREAMLINING THE AGENCY PROPOSAL PROCESS AND MANAGING SCOPE with Joe Ardeeser

“As a little bit of contextual background for our listeners, if you don't already know, as a part of the suite of meetings and services that we offer our clients, we are in what we call our pipeline meeting. During these meetings and throughout our client relationship, we stress the importance of knowing your data. At the end of the day, you absolutely need to be looking at your data and understanding the story that it tells you about where your agency currently is. Having conversations with my clients so that I can really dive into what the data is telling me is crucial.” –Hannah Hood

The finer details of this episode:

• Challenges and trends in the agency industry
• Extended sales cycles and delays in closing deals
• Slower lead generation and new client acquisition
• Strategies for managing low utilization
• Whitespace analysis for evaluating services provided to clients
• Impact of the current economic state on client decisions

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Love our content? Sign up for our newsletter: https://vcfo.summitcpa.net/ddc https://www.summitcpa.net/summit-newsletter
• Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc
• https://www.linkedin.com/in/hannahchood/
• Love hearing insight from Hannah? Check her out on the Young CPA Success Show: https://www.youtube.com/playlist?list=PLHIPahPXE1HhfZO1Ig5pGiB-eHA4hrFzQ

Timestamps:

The state of the industry (00:00:00)

Introduction to the episode and discussion about the agency industry's challenges and trends.

Extended sales cycle (00:01:25)

Analysis of the extended sales cycle, identifying the pain points and strategies for improving the sales process.

Slower lead generation and new client acquisition (00:05:56)

Discussion on tracking lead sources and making informed decisions based on lead metrics to improve client acquisition.

Whitespace analysis (00:06:34)

Explanation of the whitespace analysis tool to identify opportunities for service expansion and niche specialization.

Companies wanting more for less (00:10:23)

Exploration of the challenge of clients seeking more services for reduced costs and strategies for communicating and evaluating the value of services.

Evaluation of team utilization and business size (00:13:53)

Strategies for evaluating team size, performance, and business goals during slow times, including considerations for right-sizing the team and utilizing contractors.

Planning for the future (00:17:28)

Discussion on reevaluating business goals and creating a plan for the future based on current challenges and opportunities.

Evaluating Weaknesses and Planning for Change (00:18:49)

Discussion on evaluating weaknesses, improving processes, and investing in marketing strategies during a lull in business.

Tapping into Hidden Potential within the Team (00:20:40)

Exploring the importance of evaluating team members' hidden potential and tapping into their skills and ideas.

Bringing Operations and Sales Teams Together (00:22:59)

Emphasizing the significance of communication between operations and sales teams for better client outcomes and sales strategies.

Fa

“I'm the CEO. I'm not a CFO, but I was acting as one. It was not my favorite part of running a company because math doesn't excite me like it does some of you. I can do it, and I think I did it pretty well. But it was invaluable to be able to have your firm come in and take a look at how we've been running the company and just to get the reassurance of, 'You guys are good, you're not doing things wrong.' You've been able to come in and tweak things and make it even better. It's been quite the journey from first meeting you, in 2015.” -Karla Santi

The finer details of this episode:

●       Importance of mentoring in personal and professional growth

●       Value of finding a mentor or coach in the professional world

●       Significance of advisory boards and diverse perspectives in decision-making

Episode resources:

●       Summit Virtual CFO by Anders website: https://www.summitcpa.net/

●       Love our content? Sign up for our newsletter: https://vcfo.summitcpa.net/ddc https://www.summitcpa.net/summit-newsletter

●       Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc

●       https://www.blendinteractive.com/

Timestamps:

Karla's Background and Agency (00:00:15)

Discussion about Karla's impressive background and her agency, Blend Interactive.

Karla's Journey and Agency Evolution (00:01:51)

Karla shares her personal journey and how her agency has evolved since its founding in 2005.

Long-time Friendship and Events (00:03:25)

Discussion about the long-time friendship between Karla and the hosts, as well as their shared experiences at various events.

Karla's Decision to Seek Financial Help (00:07:03)

Karla discusses the triggering event that led her to seek financial help and the decision to commit to working with a financial team.

Adoption of AI and Employee Development (00:10:45)

Karla talks about the adoption of AI in web development and the focus on employee development within her agency.

Empowering Leadership Team and Future Plans (00:12:24)

Discussion about empowering the leadership team to make decisions and future plans for the agency.

Karla's Role as a Mentor (00:15:26)

Karla's role as a mentor and the importance of personal connections in mentoring relationships.

Influence of Sports on Mentoring (00:20:01)

Karla reflects on the influence of ballet and tennis on her leadership style and team collaboration.

Finding the Right Mentor (00:21:53)

Discussion on the importance of finding a mentor who connects with you and fosters a meaningful relationship.

Transparency and Trust in Relationships (00:23:02)

Importance of transparency and trust in professional relationships, including the mentor-mentee dynamic.

Takeaways from Conferences (00:24:11)

The value of attending conferences and the key insights gained from them.

Learning from Others (00:33:19)

The significance of learning from others and seeking guidance to improve professional development and business success.

“You want to be around people who are better than you – more talented, more experienced; go and soak it in. The places where I find the most growth for myself and my agency is where I’m around other people, and we’re just sharing ideas.” – Jay Owen

The finer details of this episode:

●       Jay’s journey of agency ownership and hosting events

●       Why attending events is good for networking, business growth, and personal growth  

●       Building a successful agency without sacrificing self and family

Episode resources:

●       Summit Virtual CFO by Anders website: https://www.summitcpa.net/

●       Love our content? Sign up for our newsletter: https://www.summitcpa.net/summit-newsletter

●       Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc

●       https://businessbldrs.com/

●       https://www.agencybuildersretreat.com/

●       https://www.linkedin.com/in/jayowen/

●      https://GetJaysBook.com/

“When you start the agency, everyone expects you to be the contact. But you probably don't want to do that forever. Maybe initially you delegate implementation work, the subject matter expert stuff, or project management. Then you probably want to delegate account management stuff. Usually you're still doing client strategy, at least in the early to mid-days.

The idea here is you're like, ‘Hey, so-and-so is great. They are your account manager. They're your day-to-day contact.’ They're running the, say, the monthly call or every other call. But you're still the client strategist. You're involved at the beginning of the engagement, and then things pass over to the account manger. Maybe you're making a quarterly or a semi-annual or annual appearance with those higher-level insights that only you could provide. But importantly, you are not the client’s day-to-day contact. You're not the one getting every single email or call. You just show up and share the magic. Your team is taking it from there.” – Karl Sakas

The finer details of this episode:

• Delegation and streamlining processes 
• Understanding time management within an agency
• Marketing agency operations
• Preparing for an agency owner exit strategy 

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Love our content? Sign up for our newsletter: https://vcfo.summitcpa.net/ddc https://www.summitcpa.net/summit-newsletter
• Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc
• https://sakasandcompany.com/
• https://www.linkedin.com/in/karlsakas/

Timestamps:

The Creative Agency Success Show (00:00:00)

Introduction to the podcast and its purpose.

The title of the book (00:00:14)

Discussion about the book "Work Less, Earn More" by Karl Sakas and its relevance to agency owners.

Workshop during team retreat (00:00:36)

Praise for the workshop conducted by Karl Sakas during a team retreat and its impact on the team's perspective on creative agencies.

Introduction of Karl Sakas (00:01:30)

Introduction of Karl Sakas as a guest on the show and a brief overview of his background and expertise.

Starting point of reading the book (00:04:03)

Discussion on the reasons why people tend to read the book "Work Less, Earn More" and the relevance of the concepts in the book to agency owners.

Equity vs. Lifestyle continuum (00:05:45)

Exploration of the continuum between running a lifestyle agency and an equity agency, and the importance of knowing where one wants to go in their business.

Financial considerations for business owners (00:10:31)

Discussion on the financial aspects of running an agency, including the importance of earning a certain amount as a business owner and the considerations for selling the business.

Dealing with day-to-day tasks and responsibilities (00:13:53)

Exploration of how agency owners spend their time, their preferences, and strategies for delegating tasks to improve efficiency and effectiveness.

Impact of team members on the selling process (00:15:54)

Discussion on the role of team members in the selling process and their influence on potential buyers.

The buyer's perspective (00:16:26)

Discussion about the role of an owner in the sales process and the impact

“Managers are far more costly than we realize. The more managing you have going on, the lower the overall productivity of the organization. Leadership matters, don't get me wrong, but agencies are managed to success.” – Jake Skeels

The finer details of this episode:

• Challenges of managing a growing agency or service-based business
• Impact of management structures on productivity
• Concept of matrix managing and its effects on innovation and productivity
• Importance of financial management and productivity in achieving higher profit margins for agencies

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Love our content? Sign up for our newsletter: https://vcfo.summitcpa.net/ddc https://www.summitcpa.net/summit-newsletter
• Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success, is now an audio book! Download it here: https://vcfo.summitcpa.net/ddc
• https://agencyagile.com/
• https://www.linkedin.com/in/jackaskeels/

“When you are doing business development, you need to build your own identity. You need to have something that somebody will remember you for.” - Goran Kovacevic

The finer details of this episode:

• Transition of individuals from production roles to business development in creative agencies
• Importance of building a strong brand identity in sales and business development
• Changing dynamics of business development as companies grow
• Significance of processes in supporting growth and measuring key metrics

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• This Quiz Will Tell You What Financial Help Your Business Needs:

https://rxkebp5191f.typeform.com/summitquiz?typeform-source=statics.teams.cdn.office.net

• https://infinum.com/
• https://www.linkedin.com/in/goran-kovacevic-621b351a/

"Certainly, from an accountability perspective, that's the biggest benefit in coaching. The coach is going to help you follow through on the plan, and if you deviate, they'll ask why and what's the next mission as a result." – Russ Sorrells

The finer details of this episode:

• Importance of strategy, communication, financial oversight, and sales focus in businesses
• The role of a coach in holding business leaders accountable
• The impact of not having a forecast or plan in place for small businesses
• Value of understanding financial statements and having a clear financial strategy

Episode resources:

• Summit Virtual CFO by Anders website: https://www.summitcpa.net/
• Email us with questions or if you’d like to be a guest on the show: [email protected]
• This Quiz Will Tell You What Financial Help Your Business Needs: 

https://rxkebp5191f.typeform.com/summitquiz?typeform-source=statics.teams.cdn.office.net

https://www.ownyourcategory.com/