Earlier this month I was speaking to a group of agency owners and the topic of specialization came up, at least when it comes to business development. This elicited a comment from one of the agency owners in the audience. They had tried this specialist strategy and it didn’t work. In fact, it had the opposite effect — they couldn’t find enough new business opportunities to sustain the firm. What did I have to say to that?
To be sure, I see enormous benefits to specializing when it comes to new business, but it’s not without its risks, as this agency owner pointed out. This month, I offer some hedges against that risk.
Fear and boredom are not a good combination, especially when they’re the overriding emotions you feel every time you confront the reality that you could be doing more to win new business for your agency.
I used to extol the virtues of a well-rounded business development program until I realized I was never going to get agency leaders to do things they didn’t like to do. I’d just be continually fighting the impossible fight against fear and boredom.
Instead, I learned that defining a strategy and set of tactics that were aligned to their strengths was the shortest, most efficient way to fill their pipeline. I also discovered that most small agency owners fit into one of four different new business personality types.
Which one are you? The answer may change your feelings about business development from fear and boredom to confidence and enthusiasm. Read more.
Your agency deserves to be noticed!
But you need to do your part too. You’re responsible for making it as easy as possible for your best customers to find you. A strong strategic positioning is one of the best ways to differentiate yourself.
Landing on the right positioning for your agency can be emotional, soul-searching work, and emotion tends to cloud our judgment and compromise our objectivity.
What if you had a way to remove emotion from the equation? What if you had an equation to lead you to a clear articulation of your value?
Is 2018 the year you regain control over your agency’s new business destiny?
The other day I got a phone call that made my week.
One of my clients, the CEO of a small ad agency, called to tell me that the agency’s positioning strategy, a strategy that I first suggested more than three years ago and have encouraged (and sometimes cajoled) him to embrace ever since, just won him a major piece of business.
It was gratifying to me, of course, because it validated my business! But I was happier for him.
Committing to that positioning strategy had been a psychological hurdle. It fit like a Savile Row suit, but it required him to put a stake in the ground, and that meant potentially saying “no” to revenue if it meant working with the wrong kinds of clients.
It’s a very emotional decision for some agency owners, and emotion tends to cloud our judgment and compromise our objectivity.
But what if you had a way to test your positioning that puts emotion to the side? Read more.