Adapting and Thriving in Agency Business

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What are you doing to win new agency business? Are you showcasing your best work? Do you have a formal pitch process that works well every time? Today’s guest co-founded his agency after realizing he had contributed significantly to another agency's growth without any ownership. So he took the bold step of starting his own agency without knowing how to convince others to believe in his vision. Tune in to learn how he persevered despite facing constraints from his former employer, skepticism about his new venture, and the need for strategic pivots in client acquisition.

Luke Cope is the co-founder of Bottled Imagination a Manchester-based digital PR agency focused on doing good work using unparalleled creativity to outshine the generic, churned-out, recycled ideas the industry has been saturated with. He shares insights into the rapid growth of his agency, discusses his desire for ownership after helping to grow an agency as an employee, and the way his team started to reframe pitches to great success.

In this episode, we’ll discuss:

• Why equity matters.

• Get people to rally around your vision.

• 3 ways to change your approach to winning new business.

• Should you reframe pitches or stop doing them altogether?

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E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.

Why Equity Matters: Turning Frustration into a Thriving Agency

Working in SEO, Luke got to be part of an agency’s rapid growth as it went from 15 employees to doing $7 million in revenue. Despite feeling that this success stemmed directly from his and his colleagues' efforts, they had no ownership stake in the company or any claim to the value they had helped create—they remained simply employees.

Furthermore, Luke considered he could only sustain this level of commitment for someone else's benefit for about two years. Instead of looking for another agency to move on to, he and his now co-founders decided to create something of their own.

At the time, this decision seemed like their only viable path forward. In retrospect, however, it represents a scenario where forward-thinking agency owners might have retained these valuable team members by offering equity—transforming key employees into shareholders with a genuine stake in the company's success. This way, they keep people who have helped grow the agency since the beginning and don’t risk losing clients who would probably follow them to their new venture.

Ultimately, Luke and his co-founders determined launching their own agency was the best option and were validated by getting their first lead the same day their departure was announced. This first client is what really helped set up their agency and helped them reaffirm that they made the best decision for their future.

A Silent Agency Launch Saved by Referrals

Even though they quickly gained some really good clients, the start of Luke’s agency was marked by an unusual constraint. In accordance to the deal they had with their previous employer, they could begin operations but couldn’t publicly launch their business for three months.

It seemed risky to launch their agency amid this uncertainty as they could lose momentum in gaining new clients. How would they advertise their business? The answer came when a couple of referral clients set the agency to a great start, generating about $30,000 in monthly revenue that provided essential financial stability during this vulnerable beginning phase.

Looking back, this period of uncertainty could have spoiled their efforts, but instead, it became a catalyst for creativity and resourcefulness.

How to Get the Right People to Rally Around Your Vision

According to Luke, one of the benefits of having several founders was that they could start servicing clients immediately. And although it wasn’t easy getting workers to sign on to join a nameless agency, they made their first hire and engaged several contractors to handle specific tasks before their official launch.

Nevertheless, six months into operations, Luke still found it was challenging to get talent to join a small, unproven business. This struggle is common among emerging agencies, and overcoming it requires developing a compelling vision and clear values that resonate with potential team members.

Once you do find clarity, you go from desperately selling your agency and pleading with candidates to join your journey to carefully evaluating whether applicants truly align with your team's culture and direction. As a leader, when you demonstrate unwavering confidence in your instincts and articulate a clear vision for the future, you naturally inspire others to embrace your cause, further amplifying the potential for success.

3 Ways to Change Your Approach to Winning New Business

After about six months, Luke and his team changed their approach to new business in three key ways:

1. Innovative examples. Aware they needed examples of their content creation to attract new clients, they created a fake soccer player, paid influencers to say he was 10 to 1 to make the England World Cup squad in Qatar, and got 5,000 people to click on an offer to place a bet on him. Whoever clicked on that offer got taken to an awareness page with information about the importance of doing proper research before placing a bet. It was a testament to their ability to move people to follow a compelling story and take actions based on it.

2. Reframing the pitch. They also worked on transforming their pitch process to build trust with potential clients. They introduced a more dynamic pitching process, starting with the simple yet effective idea of asking potential clients what they did not want to hear during a pitch. This tactic served a dual purpose: it allowed the agency to understand the client's preferences better and created an opportunity to surprise them with unexpected ideas.

3. Anticipating questions. Luke’s team also proactively addressed potential client concerns by anticipating the questions that might arise about their status as a relatively new agency. This strategy not only enhanced their win rate but also fostered deeper connections with clients, ultimately contributing to the agency's rapid growth.

Should You Reframe Pitches or Do Away With Them?

There are, of course, pitfalls to conventional pitching, as agencies frequently surrender their most valuable ideas without receiving compensation or commitment. As they mature, many agencies begin protecting their strategic insights while still delivering value to prospects. One effective approach is implementing a "foot-in-the-door" offer—charging for your expertise in developing strategic plans, thereby ensuring your creative contributions are appropriately valued.

Most agencies initiate this transition toward paid discovery once they've established their reputation and can afford to be more selective about their clientele. In Luke's case, reframing their approach to pitches has similarly enabled his team to become increasingly selective with potential clients.

Ultimately, whether through paid discovery work, selective pitching, or reframing the pitch process, these approaches all serve the same essential purpose: creating selectivity that preserves agency resources while fostering a more fulfilling and collaborative environment for everyone involved. This strategic selectivity not only protects an agency's most valuable asset—its ideas—but also establishes more balanced client relationships from the outset.

Are you Willing to Bet on Yourself?

When it comes to paths to agency ownership, Jason has heard it all. From people who were raised by entrepreneur parents and always knew that would be their path to, most likely, people who just started a project based on what they knew how to do and suddenly found themselves starting a business and managing a team.

In Luke’s case, he never thought he would start his own business and only got the drive to do so after realizing he had helped grow something he couldn’t claim as his own.

Ultimately, a great predictor of whether or not you’ll thrive as an entrepreneur is how willing you are to bet on yourself. Do you believe in yourself and your ability to carry forward and always be able to adapt your business to new circumstances? If you do, you’ll eventually figure out a clear vision and inspire people to bet on your dream and join you for the ride.

Do You Want to Transform Your Agency from a Liability to an Asset?

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