Objectives and Key Results
Published on February 02, 2010
Two days ago I was introduced to a management technique that's widely used at Intel and Google, about which I was previously unaware. The idea is to get everyone in the company focused on the three most important priorities that matter most, and no more.
Managers who use this technique call it O.K.Rs, which is short for Objectives and Key Results. An interview in Sunday's New York Times with Mark Pincus, CEO of Zynga, a provider of online social games, describes it this way:
...the idea is that the whole company and every group has one objective and three measurable key results...it's a simple principle that keeps everyone focused....
Pincus credits John Doerr, the well-known venture capitalist, with the idea; he's pictured above.
Here's how Pincus puts it into action:
- On Sunday night or Monday morning, everyone writes down their three (3) priorities for the week.
- On Friday, we see how they did against them.
He's found that:
...this is the only way people can stay focused and not burn out.
This simple management technique should be very effective for any ad agency that has had to cut staff due to the recession. While a smaller group may not get as much done as a larger group, the key question to ask yourself is, "Are we getting the right things done right now?" This approach will keep everyone focused on the getting the most important things done - this week.
It should be especially effective for new business people. For example, staying focused on nurturing a long-term prospect, completing the RFP that's due on Thursday, or making twenty calls every day this week.
It's easy to get caught up in all the little things that need to be done, putting aside for a while the big things that matter most. The little things do need to get done; however, it's getting the big things done that has the most impact on individual performance, and the agency as a whole.
Enjoy this post? Share it with others.
Change can be just another thing that you do
Published on January 29, 2010
In our company, we constantly push ourselves to figure out how to change and improve in order to grow. Part of the pushing comes from an external source (the executive coach I mention in a recent post), but increasingly it's our own recognition that if we're going to achieve the goals we set for ourselves, it's up to us to figure out how to do it.
Setting goals is fun. Achieving them is where the proverbial rubber hits the road. The hard part of it is that it's...hard.
Hitting your goals, assuming they're challenging ones, requires that you do things differently. And, as we all know, changing even the smallest habits can be really hard. In business, changing habits means changing how we work - our processes.
Changing processes is quite challenging, particularly if the process involves multiple people and responsibilities. Each person who's involved has to change what they do and how they do it, which is where you're likely to run into difficulties.
This brings us to "Today's Word", to borrow Stephen Colbert's phrase:
mis-o-ne-ism [mis-oh-nee-iz-uhm]: Hatred or dislike of what is new or represents change
We all know that most people dislike change, and some truly hate it - and will do everything in their power to keep the status quo (just look at your typical bureaucrat for evidence of that). In our company, over the years, we've done many things to avoid change. Let me know if any of these sound familiar:
- Form a committee to investigate a particular subject; the committee report ends up on a bookshelf.
- Report on progress for a period of time, and then gradually stop doing so.
- Run into roadblocks that appear to be insurmountable, and then give up.
- See initial benefit and results from the energy of one "true believer", but then their enthusiasm is gradually worn down by the misoneists.
I'm sure you've never seen anything like this in your company!
To be successful in new business, we have to change and adapt. This means that as new business leaders, we have to be comfortable with change and need to make those upon whom we rely to get things done similarly comfortable with change. That's hard.
Here are a few of the things that we've learned about change, which may be of use to you if you're going to be a change agent in your agency:
- Set goals with the key people who will help you be successful.
- Break each goal down into all the steps that you can think of. For example, we recently had a brainstorming session to identify information we needed to know and have at our fingertips in order to create a series of projects that would, together, allow us to achieve one part of one goal.
- Set milestones for each of the steps along the way to achieving each goal.
- Assign responsibilities to each step or process or project.
- Assign due dates for each.
- Set a series of weekly meetings, when each team member is responsible to give a status report to the group. Meet immediately afterwards to resolve or bring resources to bear on significant issues.
By embracing this type of process, which breaks change down into small pieces and makes it a normal part of every day, change is becoming just another thing that we do.
Hopefully you'll find this to be a useful technique to use with your new business team.
Enjoy this post? Share it with others.
How hard are you willing to work, and for how long?
Published on January 22, 2010
Most ad agency new business people are competitive, and want to be the very best they can be. What separates the average from the great? The experts from the "wannabes"? I was struck by a section of Outliers, by Malcolm Gladwell, that provides a very simple answer.
Gladwell relates a study by psychologist K. Anders Ericsson and two colleagues at Berlin's Academy of Music. In the study, the school's violinists were divided into three groups: those who were stars; those who were good; and, those who were unlikely to ever play professionally.They were all asked the same question:
Over the course of your entire career...how many hours have you practiced?
What the researchers found is that everyone started off playing at about the same age - five or six years old. They all practiced about the same amount: two to three hours a week. But after about three years of study, those who ended up being best in their class started to increase the amount of practice time: "six hours a week by age nine, eight hours a week by age twelve, sixteen hours a week by age fourteen, and up and up until by the age of twenty, they were practicing - that is, purposely and single-mindedly playing their instruments with the intent to get better - well over thirty hours a week."
In fact, by the age of twenty, the elite performers had each totaled ten thousand hours hours of practice.
Gladwell goes on to say that the researchers couldn't find any "naturals" who were able to perform at a high level with little effort. What they found, instead, was that:
...the thing that distinguishes one performer from another is hard work. That's it. And what's more, the people at the very top don't work just harder or even much harder than everyone else. They work much, much harder.
He then reports that study after study has confirmed that 10,000 hours of practice is the qualifying line for world class talent - whether in music, sports, chess, or even to be a master criminal.
So, what does 10,000 hours of practice represent to a new business person? Let's say you work 40 hours a week and work forty-nine weeks a year. Ten thousand hours is equivalent to:
- More than 5 years of dedicated, focused effort at improving your skills - assuming you work at it full time.
- More than 10 years of dedicated effort if you work at it half-time.
- And, if you're like many agency principals who dabble at it for five hours a week: it will take you 41 years to master new business.
This should be sobering. If your agency doesn't have a full-time new business person, and a team of people who practice really hard at their craft, can you ever (realistically) hope to be really, really good at new business?
Or, if you're younger or relatively new to the new business game, are your expectations realistically set? Are you willing to work really hard, full-time, for at least five years before claiming to be good at new business?
These findings resonate with me - as a still-competitive athlete and a business person with enough years in the seat to recognize that knowledge really does comes from practice and experience.
It takes a lot of hard work, making mistakes and overcoming them - over many years - to be good at something. You've got to be in it for the long term, with a desire - and a serious commitment - to be the best you can be.
Enjoy this post? Share it with others.
Making sure you and your new business director are on the same page
Published on January 19, 2010
Every now and then you learn a management technique that's so easy and powerful that you can't believe you didn't know about it before. I learned one of these tactics recently from an executive coach who helps develop executive teams, and thought it would be worth passing along.
The technique is this: After you meet with one of your direct reports, ask them to send you a confirmation email summarizing what they heard.
As you can see, this is far from rocket science. However, think about what it does:
- Ensures that you and your new business director, or any other direct report for that matter, are on the same page.
- You immediately know if they heard what you said; and, if you implied things but didn't come right out and say them, did they "read between the lines"?
- You receive a written summary of what will be done, by when.
Making a request like this after routine communication meetings may be overkill. I find that the time to use it is when you've just covered a lot of important details, or if there's a problem that you need to get resolved.
Too often, we assume that what we've said was 100% understood. However, the truth is that the percentage may be considerably less. A fellow CEO reported to me that one of his employees repeatedly understood less than 50% of what was communicated during one-on-one meetings. This technique saved that employee's job, helping him to take better notes and effectively prioritize his work.
So, as you're working on your ad agency's new business plan this year, you might try this technique, and then be sure to let me know how it goes.
Enjoy this post? Share it with others.
Wall Street Journal article suggests it still works
Published on January 14, 2010
It wasn't too many years ago that ad agencies used direct mail to generate new business leads. Then, it went out of fashion in favor of email. But, as spam laws and filters have made email less effective, the question is, is it time to experiment with direct mail again?
A January 12, 2010 article in the Wall Street Journal titled. "Firms Hold Fast to Snail Mail Marketing", gives examples of small businesses continuing to rely on and benefit from direct mail.
This got me thinking about the past, and the potential for the future of agency lead generation.
Five to ten years ago, it was not at all uncommon for agencies to use various forms of direct mail to solicit new business and help introduce or reinforce their brand to prospective clients.
Common examples of direct mail included:
- Post cards (to large numbers of prospects, often times humorous)
- Personal letters (one-to-one communication with a unique prospect)
- Credentials (one-to-one communication with a unique prospect)
- Your work (beautiful, expensive boxes to showcase creative sent to a small group of potential prospects)
We all know that email took over, propelled by the ease of communicating directly with a specific prospect, and because, at first, they avoided the proverbial circular file that captured so much direct mail. Best of all, they landed directly in the prospect's in-box.
But, as it's gotten harder to be "heard" via email, now that in-boxes are carefully filtered and emails from unknown senders are routinely deleted before they're read, the question is: How should you now make your prospects aware of your agency's existence?
We hear this frustration every day from new business people.
So, I'm wondering -
- Is now the time to re-introduce direct mail into your marketing mix?
- Is, perhaps, direct mail another case of "what goes, around comes around"? Or, a marketing tactic whose time has come (again)?
- Or, is B2B direct mail dead? Should we all just move on to something new? (If so, what are your ideas for the new new thing?
I'd love the hear your thoughts - whether as a comment, tweet, or email.
Enjoy this post? Share it with others.
Recent Entries
Everyone likes the best of...
published on January 08, 2010
As a way to kick off the New Year, here are the ten most-read posts from 2009. Enjoy!
- 7 Voicemail Messages for Successful Ad Agency New Business Development.
- The Other Reason Why Your Clients
Read on...
...with a new business hook
published on December 22, 2009
Interested in being able to offer your clients a quick, inexpensive, cost-effective ad delivery system targeted at millennials that guarantees 100% of your ads are viewed?
I ran across Beezag a
Read on...
Know your type
published on December 18, 2009
This is a guest post from Craig Kavicky, Vice President at Big Red Rooster, an independent research, strategy, and design company in Columbus, Ohio.
In recent posts, Todd has referenced the
Read on...
The good news is that everything is measurable
published on December 15, 2009
A reader recently wrote me, saying that he's a new ad agency CEO, but has never managed a new business department. What objectives should I set, he asked? What should I measure? As many agency
Read on...
"Jarring" is not the reaction you want
published on December 11, 2009
A few weeks ago I wrote about how not to self-destruct during your first meeting. Unfortunately, in this true story the agency became the talk of the prospect's office. Here's the back-story.
Read on...
Wonderfactory prototype is an exciting development
published on December 03, 2009
The Wonderfactory, in collaboration with Time, Inc., helped design the prototype of what Sports Illustrated magazine might look like on a tablet computer.
Revealed on December 2nd, this innovation
Read on...
Reveal the answer to close more new business
published on December 02, 2009
Before a prospect can become a client, they have to clearly understand the value of working with your ad agency or marketing services firm.
Does your current new business process demonstrate what
Read on...
Help them create a new future
published on November 23, 2009
The common approach to selling marketing services is, "Find their pain, and then show how you can solve it." But, if you only focus on your prospect's pain, you're leaving half the potential new
Read on...
Introducing Leap Media
published on November 19, 2009
Small and mid-size advertising agencies can now offer their clients Digital TV services. A low-cost, turn-key solution, which you can offer as your own, is available to drive new business.
Leap
Read on...
People do business with people they like
published on November 13, 2009
85% of buyers of marketing services state they're more likely to purchase from a provider with whom they've established some kind of personal chemistry. This was cited in a white paper I read
Read on...
Stay true to yourself
published on November 09, 2009
To many marketing services providers, sales is the equivalent of checking your values at the door and becoming a slimy salesman. Your mental image is along the lines of getting a prospect to part
Read on...
Good chemistry means learning how to have difficult conversations to maintain harmony
published on November 04, 2009
You've seen it happen: two members of your team aren't getting along. You've tried to repair the damage, but everyone knows it's there. While everyone tries to cover it up in the pitch, it still
Read on...
How one agency is turning an opportunity to win into a likely loss
published on November 02, 2009
Agencies will do almost anything to get a first meeting with an ideal new business prospect. But once the meeting is secured, optimism often turns to disappointment, and too often it's because the
Read on...
The issue is timeless
published on October 30, 2009
Knowing what your services are worth and being able to articulate and sell the value to a prospect is a critical new business skill.
I was recently emailed the following story, which was delivered
Read on...
Guest Post
published on October 27, 2009
Janet Northen is Partner and EVP Director of Agency Communications at McKinney. She's been in agency PR for many years, including significant stints and Fallon and The Martin Agency. When I think
Read on...
The answer depends...
published on October 22, 2009
This is the last in our three-part Q&A from our reader in Finland, who posed an often-debated question: "Should I thoroughly research my prospects and make fewer calls, or research less and make
Read on...
Question and answer from a reader (#2)
published on October 20, 2009
Recall that I promised to answer three questions from a reader in Finland. His second question is, "What's the best strategy for a first meeting?"
I've written in the past about the importance of
Read on...
Answers to a reader's new business question
published on October 16, 2009
A reader from Finland recently emailed a few questions, which I'll answer over the next few days. The first is, "When you're selling something as intangible as advertising, how can you close at
Read on...
Don't manage your career, Exceed Expectations
published on October 14, 2009
Come year-end, we'll see ad agency new business people engage in the annual ritual of getting fired and finding new jobs at different firms.
This game of musical chairs creates turmoil within
Read on...
How Justin is turning around an almost-lost client
published on October 08, 2009
Customer retention, let alone organic growth, usually comes down to people delivering on promises. Missed deadlines, less than acceptable quality, and poor communication all naturally lead to
Read on...
Cultivate your network with relevant information
published on October 07, 2009
It wasn't that many years ago that you'd send snail mail that included an article with a note attached that read something like this,
Saw this and thought you'd enjoy it.
The approach was simple
Read on...
Helping your network with no expectation of ROI
published on October 05, 2009
One definition of karma is "actions that bring bring upon oneself inevitable results". I was intrigued by a recent conversation with Jane, a new business person, who claimed that this was the key
Read on...
Signs of a turnaround
published on October 01, 2009
Dave Currie, President of Catapult New Business sits in a fairly unique seat. Catapult gets meetings with corporate marketers for its agency clients. While Dave speaks with dozens of agencies a
Read on...
It's a bit like cutting off your nose to spite your face
published on September 30, 2009
It's my birthday (it's not divisible by five, just another on the short march towards the big five-oh), and I've given myself permission to rant after hearing this comment one too many times from
Read on...
Just because you have a database doesn't mean it's accurate
published on September 28, 2009
Most agencies have a new business database. Twelve years ago, while working at another company, I would've agreed with the majority of agency principals who believe that their database resembles
Read on...
Study reveals execs prefer face-to-face
published on September 23, 2009
According to a recent Forbes Insights study, business executives prefer face-to-face meetings and conferences over virtual meetings, and overwhelmingly agree that they're necessary to build
Read on...
The lifeblood of most agencies
published on September 21, 2009
When you analyze the cost of acquiring a new client, generating new business from referrals is usually the least expensive. Realizing this, the natural question to ask is, "How do I get more?"
Read on...
Add value so you don't kill your prospects
published on September 17, 2009
Pros-pec-ti-cide [pros-pek-tuh-sahyd]
-noun
- The act of killing prospects.
What a great word! I came across it in an article by Paul McCord. He raises valuable issues and recommendations that
Read on...
Real change requires real effort
published on September 16, 2009
A recent Harvard Business School article addressed why it's so hard to change, which is a good follow up to my last post on the need for constant change and improvement in ad agency new business.
Read on...
A call to action
published on September 14, 2009
You've probably heard the expression, "Change or Die". Winston Churchill had another take on it that, to me, is even more powerful:
To improve is to change; to be perfect is to change often.
A
Read on...
And it needs to be a sound business decision
published on September 10, 2009
A few years ago I was faced with a decision about whether or not to file a lawsuit. As I considered my options, an old friend related to me what his even wiser lawyer once counseled him about
Read on...
($ Canadian, that is.)
published on September 09, 2009
How many of us are willing to offer $40,000 off agency fees to bring in a client? Well that's what The BrainStorm Group did at the end of May. And it worked.
Ron Telpner, chairman and CEO of the
Read on...
published on September 04, 2009
What are the best questions to get corporate marketers talking?
We all have our favorites, so why not combine our knowledge and put together a list of the best? Below is a form to enter your
Read on...
"Busy-ness" abounds in good times and bad...
published on September 02, 2009
Not long ago I had to let someone go who was always the first to arrive and last to leave. She willingly put in time on the weekends without complaint. And when she was at work, she worked; it
Read on...
What's the right mix?
published on August 31, 2009
Ad agency clients regularly ask us this question, "What's the best mix of retainer vs. project work?" I think the answer can determine how successful you are at creating a sustainable new business
Read on...
You are judged on first impressions
published on August 27, 2009
A recent survey reveals that only one in three agency receptionists meet the characteristics of a Director of First Impressions. Staffed well and you'll have another new business weapon in your
Read on...
One benefit is time to think and plan
published on August 26, 2009
In a recent post I wrote about the importance of getting away from ad agency new business to get refreshed and re-energized. But there's more to it: it's taking a long-term view of the work you
Read on...
Resist pressure to reduce your fees
published on August 24, 2009
A recession is a scary time for the person trying to maintain the financial health of the agency.
I got into a conversation with a fellow CEO the other day about the pressure agencies are under to
Read on...
Listening = Winning
published on August 20, 2009
We've all heard the expression, "People love to hear themselves talk." When it comes to new business, your success is often determined by how well you get your prospects to do the talking.
I've
Read on...
One of the old rules may need to be rewritten
published on August 19, 2009
It wasn't long ago that calling a marketer on their cell phone was considered "too personal".
However, as cell phones are becoming mobile computers, and the lines between work-time and
Read on...
Growth is within your control
published on August 17, 2009
CEO beliefs and behaviors either contribute to revenue growth or work against it. The questions is, are you helping or hindering your agency generate new business?
Here's an article by Michael
Read on...
The skills of your hunters and farmers are critcial to landing and retaining clients
published on August 14, 2009
Tight client budgets, hungry competitors, and aggressive new business hunters make for a tricky new business environment. That's what we're all experiencing now, and probably will for some time -
Read on...
Caller ID doesn't have to be your enemy
published on August 12, 2009
How often do your prospects answer the phone?
New business people say that if feels like their calls are being screened. I agree. If your prospects don't recognize your number, they're unlikely
Read on...
You may have it if your new business revenue is falling short of expectations
published on August 10, 2009
I was doing some role practice recently and observed the following: the new business person asked a few good questions and then, thinking he'd identified the need he could satisfy, switched into
Read on...
White paper reveals benefits of good prospect targeting
published on August 07, 2009
There's a direct correlation, in our data and in our experience, between companies who know more about their targets, and how successful they are at generating leads.
RainToday.com's research
Read on...
Best predictor of job performance is a work sample
published on August 05, 2009
Dan Heath and Chip Heath, authors of "Made to Stick" wrote a provocative article in the June issue of Fast Company. It challenges our basic premise about how to hire successful employees.They
Read on...
Input from entrepreneurs on management, marketing and sales
published on August 03, 2009
If your ad agency is new or entrepreneurial, you're in a start-up marketing services company, or you're a CEO, you'll relate to this list of 10 things MBA schools won't teach you and the
Read on...
How to you decompress and rejuvinate?
published on July 30, 2009
As you read this I'll have just gotten off a beautiful kayaking river in Idaho. We planned this trip a year ago. With us are members of my wife's family and very close friends with great senses
Read on...
Think discipline.
published on July 28, 2009
Too often, creatively-driven firms forget the business discipline that's required to achieve financial success.
A consultant recently reminded me of this. He's the product of the financial and
Read on...
Lack of ROI is usually caused by one of four things
published on July 27, 2009
It's not uncommon to hear that an ad agency (or other type of marketing services company) is suspending their proactive, outbound new business efforts due to low Return on Investment (ROI).
In
Read on...
The single best way to improve results is to measure activity
published on July 23, 2009
Those of us of a certain age remember the Ford Pinto. It had problem: hit it in the rear-end and the fuel tank might explode. This was a rather nasty surprise that drivers wanted to avoid, which
Read on...
There are two things every client wants. K.I.S.
published on July 21, 2009
We all know that when you Keep It Simple (K.I.S.) - I'll assume no readers are stupid - business success comes easier.
I've been thinking about agency-client surveys. Each tells us what clients
Read on...
Tips from a ProBlogger
published on July 20, 2009
I noticed a post by Darren Rowse on ProBlogger that may be of value if you're looking to create an ad agency blog to generate awareness and drive new business.
Every big goal needs to be broken
Read on...
Why shouldn't ad agencies or design firms launch their own brands?
published on July 17, 2009
In a recent post I mention the opportunity to partner with upstart technology companies as a new business play. This month's Fast Company article titled "Selling Soap. Literally" shows how some
Read on...
Adweek doesn't suggest an answer; Here's one.
published on July 15, 2009
Large, well-known agencies are getting frustrated at the length of time it's taking to fill open CMO positions and with the lack of available talent, according to a July 13 article in Adweek.
I
Read on...
Reports point to continued decline, with opportunity on the horizon
published on July 14, 2009
It feels so good to wake up to a headline like this: ...during a presentation this morning Brian Wiesner of Interpublic Group of Cos' Magna, said that the U.S. advertising economy will drop 14.5%
Read on...
Continuous improvement is a competitive advantage; here's a 3-step process to do so
published on July 13, 2009
Given the competitive nature of the ad agency and marketing services world, everyone involved in new business must continuously improve their processes and techniques in order to remain in the
Read on...
10 steps to win more new business from first meetings
published on July 09, 2009
Too often ad agency principals and new business people approach their first meeting with a prospect as an opportunity to "show up and throw up". I've seen it happen repeatedly over the last ten
Read on...
Role practice will dramatically improve your results
published on July 08, 2009
Listen to a gifted proactive new business person: their ability to engage a prospect on the phone and move the conversation forward will appear effortless. What you won't see are the hours and
Read on...
Use a CRM system for new business advantage
published on July 07, 2009
A sales guy from a well known payroll services company has been calling me on and off for months, trying to get me interested in their service, even though we're very satisfied with our current
Read on...
Attitude, self confidence and practice are key
published on July 06, 2009
You can usually tell if someone is a natural sales or proactive new business person by the way they handle rejection. If they take it personally and procrastinate before picking up the phone to
Read on...
How will you obtain and connect with prospects?
published on July 01, 2009
A client asked me recently, "How will the rise of social media sites impact how I obtain and use prospect information?"
To me there are two ways you need to consider the issue:
- How will social
Read on...
Leaders never let their minds shut down, always strive to learn more
published on June 30, 2009
In college, I don't think there was any way to comprehend what a professor meant when he said, "learning is a lifelong occupation". All we wanted to do was graduate and not have to take another
Read on...
published on June 29, 2009
Every ad agency wants to break into a new category. How do you do so when you don't have the experience? How do you avoid spending a great deal of money on a pitch that you have no chance of
Read on...
Making brownies while presenting your credentials doesn't mix
published on June 25, 2009
One day during the week of June 15th, 2009 a multicultural ad agency that can't be named had a conference call with a very large, well-known telecommunications company. They completely blew it.
Read on...
Recent survey reveals the stress associated with trying to take a vacation
published on June 24, 2009
With many agencies having trimmed staff, and the pressure to win new business extreme, it's hard to even think about taking time off. Yet, we all need to recharge our batteries and in stressful
Read on...
The greatest change of our work lives is on the horizon
published on June 23, 2009
Michael Malone's new book, The Future Arrived Yesterday hit bookshelves on Monday. You may remember his name from the early 1990s prediction that work was going to become increasingly virtual. He
Read on...
Think twice, then act decisively in pursuit of new business
published on June 19, 2009
Chi Wan thought three times before taking action. When the Master was informed of it, he said, "Twice will do."
Shaun Rein writes about "Confucius' Three Keys to Successful Leadership" in a
Read on...
Certain marketers are hiring, so get ready to ramp up your prospecting efforts
published on June 18, 2009
Jodi Bailey runs The Experts Bench, which places senior interim marketers with Fortune 500 companies (if any of your clients need this type of help, they're a very good resource, particularly for
Read on...
4 steps to benefit from focused learning and strategic targeting during slowdowns
published on June 16, 2009
Elizabeth Baskin of Tribe passed along a good idea to me yesterday that may be of use to those who work or own small agencies. We ran into each other at Catapult New Business' New Business from
Read on...
Aggregating or disaggregating your services could be the key
published on June 15, 2009
Too often marketers complain that agencies are alike, that their services are a commodity.
As frustrating as this may be, Kaihan Krippendorff argues in a recent Fast Company article that there's a
Read on...
A homeless man provides a life lesson
published on June 12, 2009
My son got a powerful dose of wisdom from a homeless man yesterday. When I heard the story, I couldn't help but think about the applicability of what he said to business in general, and to ad
Read on...
Wanted: passionate, creative designers
published on June 11, 2009
On my plane to Connecticut this past weekend I got into a recent article in Fortune Magazine titled "Fixing Up Ford." It's all about Alan Mulally's drive to save Ford. And he's doing some great
Read on...
5 ways to ensure your appointments stick
published on June 10, 2009
Does this sound like something you'd say, after hearing your prospect express interest in speaking further about your agency's credentials (recent work, award, new client win, etc.):
"Great! I'll
Read on...
Recession success proves the power of a well executed strategy
published on June 09, 2009
Amid stories about client losses, staff cuts and reduced spending are powerful reminders that a well-executed organic growth strategy can be a powerful revenue-generator in good times as well as
Read on...
Relentless focus on improvement is a key to success
published on June 08, 2009
Bottom Line interviews Josh Waitzkin, a former national chess champion and current martial arts world champion, in their most recent newsletter. Waitzkin shares insights that may cause you to
Read on...
Proactive client outreach explored using Twitter
published on June 05, 2009
Naked Pizza is driving new business using Twitter. Jeff Leach, Randy Crochet and Brock Fillinger, Naked's founders, filed an article with Ad Age last week that struck a cord.
Their goals are to
Read on...
It may be the most dreaded type of prospecting effort. Some claim it's dead. But, it still works.
published on June 04, 2009
"I just got a call-back from International Paper."
Turns out this new business person made one introductory phone call to track down the appropriate person, left a voicemail message, sent
Read on...
To be successful, a good new business hunter needs to feel their boss' confidence
published on June 03, 2009
Faye Hyman died six months ago after losing her battle with cancer.
I met Faye in 1997. When I took my new position, Faye was on probation, facing the loss of her job if her numbers didn't
Read on...
Measuring and graphing trends over time will show whether your new business process is improving, or not
published on June 02, 2009
If you have kids between 7th and 10th grades, you should know about The College Board's The Official SAT Question of the Day. It provides a daily question that is a fun and challenging way to
Read on...
The deal was almost inked, and then he tried to change the terms
published on June 01, 2009
I love asking agency principals the question, "What's the first thing you think of when you think of sales?" The answer is almost inevitably "car" or "used car".
Last Saturday morning my wife
Read on...
Take a page from Jack Welch's playbook
published on May 29, 2009
Ad agencies must drive new business to grow. But then there's growth through acquisition. Or, perhaps "stealing" your way to growth. If you missed this from today's Vanity Fair/Bloomberg Panel,
Read on...
Prospecting is a numbers game and knowing your numbers is the key to success
published on May 28, 2009
Start at the bottom to end at the top.
When speaking at the 2006-2008 Mirren New Business Conferences, we talked about how agencies should build their new business “funnel” from the bottom up. A
Read on...
If you determine the depth and weight of your prospect's needs you'll clearly define the potential opportunity
published on May 27, 2009
Most proactive new business efforts take place over the phone, which is at the heart of any outbound new business process. Most sales people know about the idea of identifying needs, but as Art
Read on...
Facing lack of new business growth? Loss of clients? This is what a recession feels like, so now's the time to rally your troops
published on May 26, 2009
Ad agencies and other marketing services firms are perfectly positioned to get creative and inspire their marketing talent on behalf of the firm. Rosabeth Moss Kanter reminds us that,
In a
Read on...
But in any economy, clever entrepreneurs find opportunity where others see only problems
published on May 25, 2009
Imagine running your agency while fearing imminent kidnapping of a family member.
I spent the Memorial Day weekend with family. We are quite a crew of different nationalities and cultures. One of
Read on...
The title of your agency's next blog post must appeal to your target audience. Here's a guide to improve title selection
published on May 22, 2009
As someone who is new to social media, and knowing that many agency new business people are in the same boat learning how to blog for their agency, I thought that a recent post in ProBlogger by
Read on...
Your agency's first meeting with a prospective client should be all about them and not about you or your capabilities
published on May 21, 2009
I've enjoyed reading Norm Brodsky's articles in Inc. magazine for years. He's seen and experienced just about anything you'll ever encounter, and there's a wealth of good business insight in every
Read on...
David beats Goliath
published on May 20, 2009
There's a great article titled, How David Beats Goliath in the May 10, 2009 edition of "The New Yorker" magazine by Malcom Gladwell. This article made me think about the small agency Davids who
Read on...
Don't be one of those new business professionals (or CEOs) who's missing what's happening outside the four walls of your agency
published on May 18, 2009
If you're the new business person at a small or medium-size agency, or the agency CEO, a recent post from OnStartUps by Dharmesh Shah may resonate.
I borrowed this post's title from Dharmesh, who
Read on...
Use search and social media to reveal insights and initiate conversations with prospective clients
published on May 15, 2009
Medical Marketing and Media magazine published a story called "The Science of Eavesdropping" in the May 2009 issue. While the authors, from Wunderman NY, are writing it from a client research
Read on...
What is the one thing that must be done extraordinarily well to achieve your Vision?
published on May 14, 2009
In yesterday's post I mentioned participating in a Vistage meeting on Tuesday that featured an excellent speaker, Dan Barnett. Dan has run businesses for 25 years at companies like Pillsbury,
Read on...
What is the clear, specific, measurable and achievable Vision motivating your agency?
published on May 13, 2009
Yesterday I participated in a Vistage meeting that featured an excellent speaker, Dan Barnett. Dan has run businesses for 25 years at companies like Pillsbury, Nestle, Constellation Brands,
Read on...
Your new business program will benefit from applying the principals of healthy living
published on May 12, 2009
I was struck by the parallels between maintaining good personal health and a successful and healthy agency new business program when scanning the recent Zappos blog, Slow and Steady Wins the Race.
Read on...
Don’t plow up your crops before they have time to grow
published on May 08, 2009
I recently saw an email from Mark and David Sandler of Sandler Training that caught my eye.
The Sandler's company specializes in sales training. They understand very well that it takes time, hard
Read on...
If you can find the time to write a blog, you can find the time for proactive new business
published on May 07, 2009
A few months ago I committed myself to writing a blog post every day for the professional enrichment it provides, in that you don't really know what you know until you write it down.
The
Read on...
Push responsibility for new business throughout your entire agency
published on May 04, 2009
I'm talking to more agencies and marketing services companies that are trying to enlist everyone in their companies to drive new business. Miriam Marcus wrote an article in Forbes magazine the
Read on...
Create an agency culture that believes in and thrives on opportunity
published on April 30, 2009
Karen Albritton's comments in AdAge's Small Agency Diary were right on the mark and are key to agency growth in any market, and particularly today.
Karen identifies 4 ways to maintain opportunity
Read on...
Why is it that most large advertising agencies focus on only 10 or 15 prospects?
published on April 24, 2009
Here are 5 reasons why large agencies focus on fewer prospects:
- Client "conflicts" limit the industries where they can pursue prospects.
- Budget: they are looking for big game, big budgets, and
Read on...
It's okay to hunker down during a violent storm, but not as the economy contracts
published on April 21, 2009
Last fall, as we all started feeling the effects of the economic slow-down, agency CFOs started tightening controls over new business spending.
- Individual employee spending limits were reduced or
Read on...
