The Innovative Agency 158. Preparing Your Agency for Succession, with Drew McLellan
Have you considered exiting your agency recently?
In this episode of the Innovative Agency podcast, guest Drew McLellan has been in the advertising industry for over 30 years. Today, he advises hundreds of small to mid-sized agencies on how to grow their agency and their profitability. During our conversation, he shares the recent challenges agency owners have faced and how to prepare for a successful succession.
What you will learn in this episode:
- What are some of the biggest challenges that agency leaders are currently facing
- Why agencies have lost some of their largest clients over the last year
- How offering strategy and insights help differentiate agencies from others
- How outside buyers are taking advantage of agency owners experiencing fatigue
- How to recognize the predictors and traits of internal employees that make good candidates for buying the agency
- How agency owners can prepare to exit their agency and make the transition easier
- Why agency owners should separate their IP from the agency during an exit
Bio
For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and their profitability through agency owner peer groups, consulting, coaching, workshops, and more.
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