Mon, 1 June 2020
Is your agency struggling due to the current economy? Are your clients pulling back? Now is not the time to panic! Learn how your agency can thrive during this economic crisis and how to be prepared for the future.
In today's episode, we'll cover:
Today I had a timely and informative chat with Michael White, CEO of Lively Worldwide, a creative agency. Michael got his start in the agency world nearly 20 years ago, but recently made a major pivot when it comes to how he does business. Michael is here to discuss how these changes set him up for the economic crisis, and how you can prepare your agency for any circumstance.
2 Things Agencies Can Learn from the Current Economic Crisis
We don't like to say it, but the current economic crisis has taught us all a few useful lessons. I always look at situations like this as an opportunity for agencies to prove who's got what it takes and weed out the ones who don't.
If you're paying attention, there are a few things you can learn from the current economic climate:
How to Start Acting Like an Agency CEO
CEO is not just a title, it's a position. You can't just call yourself the CEO, you have to act like one. In most cases, this means letting go of some of the control and thinking about the bigger picture.
Michael said he finally had time to start planning for the future and developing strategies when he started delegating and empowering his team to be more accountable. As agency owners, we have a tendency to throw ourselves all in and try to do everything. Not only is this the quickest way to burn out, but it forces you to be reactive instead of proactive. Listen to me — let go.
3 Steps to Preparing for the Agency's Future
So how do you learn from the current economic crisis and not just survive, but thrive? How do you make it through this challenging time and make sure you're prepared for the next economic downturn? (Because it will happen.)
The economic climate is changing and you can count on it changing again. The key is to be prepared so when the next economic downfall happens, you'll be ready to capitalize on the opportunities instead of fighting to survive.
Direct download: How_Agencies_Can_Learn_and_Grow_in_the_Current_Economy.mp3
Category:general -- posted at: 5:00am EST