Finding the Sweet Spot in Agency Management

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How do you measure your agency’s success? Awards and accolade? Top-line revenue and big name clients? What if we told you a more focused and lean approach could be the best path. Today’s featured guest realized the importance of finding a "sweet spot" in the agency world, so he moved to focusing on quality over quantity. He talks about the challenges of maintaining a small client roster and the benefits it brings. In his business model, his agency is providing consistent, high-quality work and building strong partnerships. Learn valuable insights on leadership, innovation, and the importance of a good relationship building.

Nick Francis is the Chief Visionary Officer of The Franchise Group, a strategic marketing and creative agency that does a comprehensive range of services, including video production, web design, graphic design, and event production. He recounts his journey into the agency world, beginning with the support of a boss who became a mentor and surviving the housing market crash and the pandemic. Nick discusses how he built a culture that has created remarkable retention rates at his agency and why his network is his most important tool to keep a full client funnel.

In this episode, we’ll discuss:

• Adapting and innovating in uncertain times.

• Redefining success instead of chasing awards.

• Retaining talent longer than the industry average.

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Building an Agency with the Right Mentorship

Nick began his career working in the film industry, later transitioning to the ad world, and eventually ending up at a company that blended both worlds working in video production and events.

As part of a small team of five people, Nick worked on the creative development side from writing scripts to pitching ideas. His work attending events led him to form a network of people in that space who needed similar services. Soon he started bringing in new clients for the agency.

Nick’s boss noticed he' had mastered nearly every aspect of the business except financial management. He took the unusual step of sharing budgeting expertise with Nick and actively encouraging his independence.

In 2006, Nick launched his own agency, bringing along a big client that sustained his business through its crucial first five months.

It’s a very unique case scenario to start your agency with your former boss’s support and even taking a big client with you, but that relationship was pivotal in Nick’s journey, with him continuing to be his mentor to this day.

Adapting and Innovating in Uncertain Times

Running an agency that focuses mostly on the events industry, Nick’s business practically disappeared with the pandemic and the lockdowns. Suddenly, the agency lost a devastating 35% of its revenue that year.

Instead of panicking, they quickly adapted to online events for a while. They moved to building a full broadcasting suite at their office to help clients get their message out in a time when they couldn’t do so at live events. Initially, they faced resistance with clients still being more interested in traditional event experiences. However, as they persisted in promoting the benefits of virtual engagement, they found success in reaching a wider audience.

It was a bold move that took some time to gain interest but it was the right call to keep the business going during those uncertain months.

Redefining Success Instead of Chasing Awards

The agency industry tends to be heavily focused on growth and competition, which affects how owners see their own milestones and overall success.

The pressure to grow fast and beat their competition leads many owners to chase awards over personal fulfillment. But why should success be defined by outside metrics rather than personal satisfaction? For some, a lean, focused approach yields greater satisfaction more than a huge, impersonal operation.

In Nick’s case, after navigating the turbulent times of the housing market crash, he and his team adapted by becoming an extension of their clients' teams rather than merely functioning as external vendors. This shift allowed them to forge deeper connections with their clients, emphasizing collaboration and shared goals.

After years of growth, he and his team started to consider the advantages of focusing on bigger clients who sign longer contracts and usually represent less hassle for them. On one hand they were thinking strategically about the future of the agency but on the other the agency just naturally moved in that direction based on what clients were looking for.

Retaining Talent Longer Than the Industry Average

Many owners believe if the business isn’t growing employees will see stagnation and eventually leave. Instead, Nick advocates for balancing professional development with personal wellbeing as a different metric of success. His approach has yielded remarkable results, particularly with entry-level hires who typically remain with his agency for three to four years—far exceeding the industry standard.

This success in retention stems from a deliberate focus on creating a fulfilling work environment. Nick has found that employee satisfaction most commonly correlates with feeling valued and finding meaning in their work.

Career goals are important, of course, but as long as you continue to challenge your employees and innovate they’ll stay inspired and motivated to do good work.

You Never Know When You’re Building a Relationship

After nearly two decades in the industry, Nick has cultivated a powerful professional network that serves as his agency's primary source of high-value clients.

In his view, a good network is everything and building and nurturing relationships should be not just a supplementary aspect of business but a fundamental aspect intertwined with growth, opportunity, and resilience.

Nick advises agency owners to remember that genuine engagement with others leads to unexpected opportunities. By being fully present and attentive, it fosters deeper connections that later evolve into fruitful collaborations.

You never know when you're building your next relationship, so approach networking not as a transactional but as an organic process of connection-building.

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