Build a Better Agency Podcast

Everyone wants to make and have more money but understanding all the available financial options and opportunities can be overwhelming. Many agency owners are juggling debt, income, personal and professional mortgages, and complex investment plans, most of which are managed by advice we were given by our parents when we were young. We've heard of ways to use our money to make money, but it all sounds a little impossible to believe. Adam Carroll is one of the nation's top financial educators and he is here to cut through the confusion and show how viable many of these options really are. Adam is a long-time friend of the Agency Management Institute, and this conversation is his third visit to the podcast and follows his well-received appearance at the Build A Better Agency Summit. In this episode of Build a Better Agency, Adam and I discuss a lot of the available tools and methodologies available for helping people reach financial security and freedom faster and in much bigger ways than might seem possible. We look at ways to double your money in 3 years, better understand the power of compound interest, and identify the different kinds of legacy. We talk about how we all need to start thinking about wealth differently by starting to ask ourselves bigger, different questions about our goals and dreams. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: Understanding the "Shred Method" for reducing debt How to double your money in 3-5 years Why it doesn't make sense to hold onto a long-term mortgage The power of compound interest Identifying the 4 kinds of legacy Equity planning How to start thinking differently about wealth The importance of joining a Mastermind

As part of our succession planning work, we have seen and worked with owners going through every stage of agency life. We've seen agencies evolve and dissolve and there are complexities along the way regardless of the journey. One of the most complicated relationships can be between partners, whether that be partners who own and run an agency together, or an agency owner who is transitioning to selling his agency to one or more employees. In this solocast, we're going to look at the important elements that make a strong partnership agreement. These documents can be created internally or developed with outside guidance but regardless of how it comes together, it must clearly define how all opportunities and challenges will be met as the agency moves forward. Think of it as a prenuptial agreement. You want to write it when things are good and the future is bright so you have a rulebook to turn to when things get difficult. Agency partnership is a thrilling but complicated relationship. If you take the time to clearly define the rules of the game, you set a solid foundation on which the agency can grow. AMI is here to help you make the most of this adventure. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: Who benefits from a Partnership Agreement The need to outline out the company is established and divided If and how ownership percentages can change The importance of spelling out each partner's contributions and responsibilities Why you need to specify how money is handled What it means to have partnership authority Outlining conflict resolution The important clauses of partnership agreements The need to include incapacitation, divorce, and death language in these agreements Explaining the methodology by which you will define valuation Defining how the business can be dissolved

As agency owners and leaders, we all want to succeed at the long game. We plan and work with the hope that it will lead to long-term success. But it can be difficult to hang in there when faced with uncertainty, and we constantly wonder which bets are going to pay off and when we need to pivot. Fear can paralyze us or force us to make decisions that undermine a potential payoff because it all feels a bit like a guessing game. Author and keynote speaker Dorie Clark is a world-renowned teacher and coach. She's been on the podcast before (episode 152) and returns with tips and insights for how to leverage the long game, based on her new book of the same title, to avoid a lot of mistakes created by this fear and uncertainty. In this episode of Build a Better Agency, Dorie and I discuss a lot of tools that help build a successful long game. We talk about ways to build more breathing room into a busy life, the need to track progress, and how to recognize the indicators that you're on the right track. We look at the importance of building the right support system, how to find more focus, and why it's so important to acknowledge and celebrate the small successes along the way. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: Defining and Creating "White Space" The need to track progress The indicators that create success in The Long Game The importance of having people around you who understand your business How and where to focus for The Long Game Why it's important to acknowledge the successes

Putting yourself in the center of a community is a powerful tool for any agency owner, but that just scratches the surface of what is possible — if you make one small tweak. Imagine putting your client at the center of a community instead of yourself. An ecosystem of businesses, experts, and tools, all designed to help your clients become even more successful. This shift allows us to completely redesign how many of us think about biz dev and how best to serve our audience. And this is also how we can keep leveling up without having to know it all ourselves. As many of you know, community is a topic that is near and dear to my heart, which is why I was excited to talk with my guest, Pam Slim. Pam is a 30-year plus business veteran, coach, and author with decades of experience building communities. Her latest book, "Widest Net" is all about helping companies reach their audience. If you have ever caught yourself thinking, "I know my thing. I know my point of view. I know who I want to reach, but how in the world do I reach them?" then you should probably be reading Pam's book. Pam was also our guest back on episode 142 for anyone who wants to soak up even more of her brilliance. In this episode of Build a Better Agency — Pam and I address the myth of the sole owner needing to hack their way through the wilderness, and instead, how to provide agency owners with a way to see themselves as part of a coalition striving to help their clients. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: How you can show up as a strong member of the community. How to embrace the ecosystem model because you are in it either way. The benefit of using the community around your clients to define your niche. How to get intentional about building your community. The benefit of being the "weirdo" in the room. How to select the right community, so it isn't a competition. Why this sort of strategic work helps you win long-term. Why PB&J relationships are the gold standard. How you can feel like you are everywhere to your clients and prospects.

The federal government and 36 of 50 states in the U.S. have research and development tax credits that many agency owners incorrectly believe our agencies are not eligible to receive. In reality, many AMI agencies take full advantage of these credits, sometimes earning back in excess of $100,000 a year. Needless to say, it's important for your agency to explore whether or not you are eligible for these benefits because the impact on your bottom line could be a huge win. Mike D'Alessandro owns a company called Research Tax Credits. For 14 years he has been specializing in research and development (R&D) tax options. These benefits are designed to stimulate the economy by creating competitive tax advantages for small business owners, including advertising and marketing agencies. In this episode of Build a Better Agency, Mike and I take a deep dive into the R&D tax credits that many agencies mistakenly believe they are not eligible for. We look at the history and eligibility of these credits, how they are determined, and what parts of agency work would be covered. We talk about whether these credits carry forward and if you can retroactively apply. We also discuss if these credits can increase the likelihood of an audit and the process for applying. It's a big opportunity that man A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: The history of the R&D tax credit What does it mean to be eligible for an R&D tax credit? What is a wage-driven credit? The parts of the marketing business that is included under this credit Does the federal credit carry forward? Why wouldn't someone utilize this credit? Can you retroactively apply for these credits? Does applying for this credit increase the likelihood of an audit? The application process Ways to contact Mike D'Alessandro: Websites: http://researchtaxcreditsllc.com Email: miked@researchtaxcreditsllc.com LinkedIn: https://www.linkedin.com/in/mikedalessandro1/ Tools & Resources: Sell with Authority (buy Drew's book) Facebook Group for the Build a Better Agency Podcast My Future Self Mini-Course

The conversation of diversity, equity, and inclusion and DEI policy creation is something on the minds of many agency owners. How to tackle such a delicate and complicated topic can be overwhelming and confusing. The fear of getting it wrong or not doing enough can lead to no action at all, which we can all agree does nothing to further the cause. But how exactly do we begin and how do we get it right? Nikki McCord returns to expand upon the conversation we started in Episode 304 ("The ROI of DEI). Nikki consults people and companies on how to make committed changes, in both policy and behavior, surrounding the topic of DEI. She's a passionate expert on the subject and the discussion is sure to inspire ideas and action. In this episode of Build a Better Agency, Nikki McCord and I talk specifically about the concept of DEI policies and how to best approach them. Beyond that, we look at the way tiny shifts can make a big impact and why we need to give ourselves permission to make mistakes along the way. Beyond our own agencies, we also discuss how to incorporate these challenging conversations into our work with clients and vendors. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: What should be included in a good DEI policy The difference between a policy and a statement How to rethink your approach to a DEI policy Tiny shifts that make a big impact The importance of authenticity How to guide clients through DEI conversations How to get through the fear of making mistakes surrounding DEI Ways to contact Nikki McCord: Websites: http://mcconsultgroup.com Facebook: https://www.facebook.com/McCordConsult/ LinkedIn: https://www.linkedin.com/in/nikki-mccord/ Twitter: @McCordConsult Tools & Resources: Sell with Authority (buy Drew's book) Facebook Group for the Build a Better Agency Podcast My Future Self Mini-Course

Discover the top five mistakes employees make when taking over agency ownership. Learn why a clear exit strategy is crucial and how to navigate the emotional challenges of this big transition. The importance of tough conversations and building a supportive team is highlighted to ensure a smoother process. Embracing agency ownership can be thrilling, but smart planning is key to success. Tune in for valuable insights that can set you on the right path.

"Culture" and "Brand" are two concepts that are often thought about and discussed as completely different topics. We don't often consider how one might not only affect but define the other. But the truth is, they are very much the opposite sides of the same coin, if that coin represents the calling card for your agency or your client's company. Agency owners and authors Mark Miller and Ted Vaughn have literally written the book on the connection between culture and brand. In examining the challenges and successes of both their own clients and research into other companies, they defined six patterns that define culture and the traits that make these patterns successful. In this episode of Build a Better Agency, Mark, Ted, and I take a deep dive into these six patterns – or "layers" – and how come to define an agency's success. We explore everything from different kinds of trust to the need to sometimes fire a rockstar employee. We look at ways to inspire an invitation to difficult conversations and why it's so important for creatives to advocate for themselves. We even define the first step an agency can take on the quest to improve, fix, or define a company's culture in a way that leads to a winning brand. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: The links between a winning culture and brand Why culture is so important in a conversation about brand Functional vs. relational trust 6 layers of marque culture How to tell if a problem is caused by a system or a person Why creatives need to advocate for themselves How agency owners can inspire a truth-telling environment Where to begin on the journey to fix culture

There is no shortage of advice on how to be a better agency leader, but much of the advice out there is esoteric or theoretical. The ideas are grand, but a solid, tangible game plan is rare. Without clear steps to take, old habits and behaviors easily return before these new ideas have a chance to create lasting change. Author Jonathan Raymond's diversified background led to an interest in figuring out how leaders could grow their business in a way that was in alignment with their values. He has developed some interesting ideas and action plans for how to inspire your team to want to follow you. In this episode of Build a Better Agency, Jonathan and I take a pragmatic approach to leadership. We examine how to recognize when you're undermining the team and how to create clear expectations. We explore a 5-step method for managing performance. And we discuss the link between personal and professional development. Becoming a better leader starts with a desire, but requires a plan of action. Hopefully, this conversation offers a bit of both. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: How to recognize when you're disempowering your team The need to set clear expectations A 5-step method for managing performance Understanding the time limit on feedback Why pattern recognition is important in agency leadership The power of uncomfortable silence Why personal and professional development aren't different 3 reasons why poor behavior isn't called out

The world of neuroscience might seem like an odd place to seek out powerful marketing tactics, but there's no denying that effective marketing isn't just about being great creatively. Art might draw attention, but human nature and how our mind works is what inspires the buy. Understanding neuro-marketing and what triggers the mind of an audience can only improve the rate of success. Dan Russell runs Vivid Labs, a conversion optimization agency that has developed neuroscience-inspired marketing strategies. He moved out of the service space so he could teach agencies and other businesses how to utilize these techniques for business growth and success. In this episode of Build a Better Agency, Dan and I talk about the different ways neuroscience insights can be used effectively in marketing. We discuss how his team determines what tests to run that are both practical and ethical. Using real-world examples, we take a closer look at a few effects that marketing agencies absolutely need to know about and incorporate. A big thank you to our podcast's presenting sponsor, White Label IQ. They're an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: What is neuro-marketing? How to determine what scientific tests apply to marketing Ensuring tests are both practical and ethical Why the physical world can trigger more effects than the digital world Nuero-marketing effects agencies need to incorporate The importance of video to increase conversion