Last week I posted three of the six traits that I have observed in great agency leaders. I asked the question then and it bears repeating: What are the behaviors that separate the great from the average? Can good CEOs become great? Can mediocre ones improve?
Here are traits 4-6. Comments and challenges are welcomed.
4. They live in the present but have a clear, compelling vision of the future -- they know exactly what kind of firm they want to become
• They have an unwavering focus and commitment to make the vision a reality.
• Their vision is a filter for decision-making. It simplifies and provides a strategic context for all their major decisions
• They are willing to take risks to achieve their vision
5. They are “star-crazed”
• They understand that a great leader needs great lieutenants not foot soldiers
• They invest in “stars”
• They don’t tolerate the “average”
6. They live by standards of excellence (external and internal)
• They set the standards
• They meet the standards
• They understand that standards of excellence are non-negotiable
In part three, I’ll show a simple scorecard to rate yourself as a leader.
Showing posts with label PR agency leadership. Show all posts
Showing posts with label PR agency leadership. Show all posts
Tuesday, June 16, 2009
Tuesday, June 9, 2009
Traits of a Great Agency Leader: Part One
As a former agency CEO who now advises CEOs and owners of public relations firms, I have observed great agency leaders, good ones, and some that are just mediocre. What are the behaviors that separate the great from the average? Can good CEOs become great? Can mediocre ones improve?
Here are three of the six traits that distinguish great agency leaders:
1. The “possibility” mindset
• They are committed to being great and wildly successful
• They always focus on the positive
• They understand that doubts will interfere with the outcome they want.
• Especially today, outstanding leaders think, act, and believe in abundance and prosperity. They are open to receiving it
2. Action-oriented
• They are doers – not just thinkers and talkers (motivate by actions not words)
• They are always moving their firm forward – not just treading water
• They work on their business, not just in their business
• They run their business like a business with an active business plans, marketing, business development and financial plans
3. Personal change agent (“If I am not part of the problem there is solution”)
• They recognize the need to change (awareness)
• They embrace the need to change (acceptance)
• They make changes in their own behavior (action)
• They invest in themselves and their firm
Test yourself. How do you rate against these first three traits?
Here are three of the six traits that distinguish great agency leaders:
1. The “possibility” mindset
• They are committed to being great and wildly successful
• They always focus on the positive
• They understand that doubts will interfere with the outcome they want.
• Especially today, outstanding leaders think, act, and believe in abundance and prosperity. They are open to receiving it
2. Action-oriented
• They are doers – not just thinkers and talkers (motivate by actions not words)
• They are always moving their firm forward – not just treading water
• They work on their business, not just in their business
• They run their business like a business with an active business plans, marketing, business development and financial plans
3. Personal change agent (“If I am not part of the problem there is solution”)
• They recognize the need to change (awareness)
• They embrace the need to change (acceptance)
• They make changes in their own behavior (action)
• They invest in themselves and their firm
Test yourself. How do you rate against these first three traits?
Wednesday, April 15, 2009
Opportunity Knocking ... If You Have the Stomach
The New Yorker ran a great piece on capitalizing on a recession environment. The writer, James Surowiecki, noted that most companies “hunker down, cut spending, and wait for good times to return."
He writes, "They do all this to preserve what they have. But there’s a trade-off: numerous studies have shown that companies that keep spending on acquisition, advertising, and R. & D. during recessions do significantly better than those which make big cuts.”
But, he cautions, you have to be able to withstand and understand the vagaries of risk and uncertainty.
“Risk describes a situation where you have a sense of the range and likelihood of possible outcomes. Uncertainty describes a situation where it’s not even clear what might happen, let alone how likely the possible outcomes are. Uncertainty is always a part of business, but in a recession it dominates everything else. So it’s natural to focus on what you can control: minimizing losses and improving short-term results." For most that means cutting costs.
He cites academics Peter Dickson and Joseph Giglierano, who have argued that companies have to worry about two kinds of failure: “sinking the boat” (wrecking the company by making a bad bet) or “missing the boat” (letting a great opportunity pass).
Many agency owners are far more worried about sinking the boat than about missing it. And, perhaps they should be. But, are they overlooking opportunities to edge out in front of their competition?
Some agencies seem to have the “stomach” for the uncertainty of today. I’ve recently read about agency acquisitions; new hires who bring a new service offering (e.g. word-of-mouth); investing in PR network memberships; starting new divisions and practices; creating new web sites and new digital offerings; and launching new advertising and marketing initiatives. These firms are investing in themselves and their future.
None of these investments (read “risks” because they all cost money) were made by large firms. Indeed most are small to mid-size agencies.
It's smart to be profit driven. But agencies that live and measure success solely by the bottom line will have considerable difficulty investing today as they see their margins shrinking. Yet these firms run the risk of being left behind by some of the more aggressive competitors who recognize the opportunities – and go for it. They will accept break-even or perhaps a small loss or gain today for greater revenue and profit tomorrow.
Food for thought?
He writes, "They do all this to preserve what they have. But there’s a trade-off: numerous studies have shown that companies that keep spending on acquisition, advertising, and R. & D. during recessions do significantly better than those which make big cuts.”
But, he cautions, you have to be able to withstand and understand the vagaries of risk and uncertainty.
“Risk describes a situation where you have a sense of the range and likelihood of possible outcomes. Uncertainty describes a situation where it’s not even clear what might happen, let alone how likely the possible outcomes are. Uncertainty is always a part of business, but in a recession it dominates everything else. So it’s natural to focus on what you can control: minimizing losses and improving short-term results." For most that means cutting costs.
He cites academics Peter Dickson and Joseph Giglierano, who have argued that companies have to worry about two kinds of failure: “sinking the boat” (wrecking the company by making a bad bet) or “missing the boat” (letting a great opportunity pass).
Many agency owners are far more worried about sinking the boat than about missing it. And, perhaps they should be. But, are they overlooking opportunities to edge out in front of their competition?
Some agencies seem to have the “stomach” for the uncertainty of today. I’ve recently read about agency acquisitions; new hires who bring a new service offering (e.g. word-of-mouth); investing in PR network memberships; starting new divisions and practices; creating new web sites and new digital offerings; and launching new advertising and marketing initiatives. These firms are investing in themselves and their future.
None of these investments (read “risks” because they all cost money) were made by large firms. Indeed most are small to mid-size agencies.
It's smart to be profit driven. But agencies that live and measure success solely by the bottom line will have considerable difficulty investing today as they see their margins shrinking. Yet these firms run the risk of being left behind by some of the more aggressive competitors who recognize the opportunities – and go for it. They will accept break-even or perhaps a small loss or gain today for greater revenue and profit tomorrow.
Food for thought?
Wednesday, March 25, 2009
The "Attractive " Agency
I have a theory and a question.
Most people have heard of The Law of Attraction. Essentially, it says that whatever you focus on in life you will draw or attract to you. Your thought process is like a magnet.
If you focus on the negative -- lack, limitation and scarcity -- that is what you’ll get. If you worry about the next client who will cut the budget or put the agency on hold – that’s what will happen.
Conversely, if you believe (truly believe) in abundance and prosperity you will attract abundance and prosperity. If you focus on the next client you will win, rather than the next client you’ll lose – guess what? You will acquire a new piece of business or increase business from one of your existing clients.
Now, think about “attractive” people. They draw to them others who want what they have. And, they do it easily, seemingly with little effort. They are “magnetic”. Attraction is success without striving.
So, my theory is that there can be such a thing as an “attractive agency” – an agency that attracts to it their ideal clients, their ideal people, and their ideal reputation -- an agency that succeeds without striving, even in tough times.
An attractive agency
Most people have heard of The Law of Attraction. Essentially, it says that whatever you focus on in life you will draw or attract to you. Your thought process is like a magnet.
If you focus on the negative -- lack, limitation and scarcity -- that is what you’ll get. If you worry about the next client who will cut the budget or put the agency on hold – that’s what will happen.
Conversely, if you believe (truly believe) in abundance and prosperity you will attract abundance and prosperity. If you focus on the next client you will win, rather than the next client you’ll lose – guess what? You will acquire a new piece of business or increase business from one of your existing clients.
Now, think about “attractive” people. They draw to them others who want what they have. And, they do it easily, seemingly with little effort. They are “magnetic”. Attraction is success without striving.
So, my theory is that there can be such a thing as an “attractive agency” – an agency that attracts to it their ideal clients, their ideal people, and their ideal reputation -- an agency that succeeds without striving, even in tough times.
An attractive agency
- Over-responds to every problem and turns every event into an opportunity
- Under-promises and over delivers – always
- Masters its craft, innovates for sheer joy, invents new ways to work
- Derives its strength from who it is rather than what it does
- Is unconditionally constructive and sees perfection not problems in staff and client
Monday, March 16, 2009
March "Gladness"
For basketball junkies, March is Nirvana. Upsets, David vs. Goliath, buzzer beaters, the Final Four. All rolled up into one month of March madness.
For PR agency execs, March madness takes on a different meaning. It is the end of the first quarter and that means 1st quarter P&L’s and the sobering reality of a slow start to 2009. But, don’t be mad. Instead be glad.
If you have already pared staffs (or are about to), cut salaries, and reduced discretionary spending -- if you’ve managed your financials well -- your firm should be poised to operate the remainder of the year at least break-even and hopefully eking out a small profit. That’s something for which to be glad.
Another bit of gladness is the small signal that the stock market may be on the verge of a little bit of recovery. Good news for all us and for our clients.
Finally, if you believe the notion of the media’s role in creating a self-fulfilling prophesy, I have seen some positive news recently that suggests the recession may end more quickly than once imagined.
We’re clearly not out of the woods, but March “gladness” is a lot better to contemplate than March madness.
For PR agency execs, March madness takes on a different meaning. It is the end of the first quarter and that means 1st quarter P&L’s and the sobering reality of a slow start to 2009. But, don’t be mad. Instead be glad.
If you have already pared staffs (or are about to), cut salaries, and reduced discretionary spending -- if you’ve managed your financials well -- your firm should be poised to operate the remainder of the year at least break-even and hopefully eking out a small profit. That’s something for which to be glad.
Another bit of gladness is the small signal that the stock market may be on the verge of a little bit of recovery. Good news for all us and for our clients.
Finally, if you believe the notion of the media’s role in creating a self-fulfilling prophesy, I have seen some positive news recently that suggests the recession may end more quickly than once imagined.
We’re clearly not out of the woods, but March “gladness” is a lot better to contemplate than March madness.
Tuesday, March 10, 2009
Good to Great to Gone
The other day I sat in the examining room of a physician and picked up the only magazine in the room. It was the May 2008 FORTUNE 500 issue. In it was an article called “The Secret of Enduring Greatness” by Jim Collins of “Good to Great” fame.
Some facts are eye-openers and offer lessons for agency and other business leaders.
• Of the 500 companies on the original Fortune 500 list in 1955 only 71 remain.
• Nearly 2000 companies have appeared on the list and most are long gone.
• Some of the most powerful companies (Apple, Microsoft, Google) emerged from new technologies replacing old-line technologies
• Some of the best-known, traditional companies are no longer in existence.
These facts boost the argument that there is no such thing anymore as “enduring greatness.” But, Collins argues differently and points to a number of companies – P&G, GE, Nucor, Xerox, Wal-Mart (we all can name others) – that have endured and continue to be great.
He writes, “Whether you prevail, or fail, endure or die, whether you make it onto the Fortune 500, and whether you stay there, depends more on what you do to yourself than on what the world does to you.”
He goes on to say, that “throughout history the greatest companies have used adverse times to their advantage … The best corporate leaders never point out the window to blame external conditions; they look in the mirror and say we are responsible for our results.”
I’ll bet Mr. Collins shares that view even today.
We know that during the last recession of 2001-2002 a number of agencies departed this earth. Probably a few of them were really good, maybe some in their space were even great. Today they’re gone.
Great leaders create great agencies. They innovate, they invest, they take risks, they plan, and they create – even in the hardest of times.
Competition has never been fiercer. Now is the time to re-commit to being great – because “good” just won’t make it today.
Some facts are eye-openers and offer lessons for agency and other business leaders.
• Of the 500 companies on the original Fortune 500 list in 1955 only 71 remain.
• Nearly 2000 companies have appeared on the list and most are long gone.
• Some of the most powerful companies (Apple, Microsoft, Google) emerged from new technologies replacing old-line technologies
• Some of the best-known, traditional companies are no longer in existence.
These facts boost the argument that there is no such thing anymore as “enduring greatness.” But, Collins argues differently and points to a number of companies – P&G, GE, Nucor, Xerox, Wal-Mart (we all can name others) – that have endured and continue to be great.
He writes, “Whether you prevail, or fail, endure or die, whether you make it onto the Fortune 500, and whether you stay there, depends more on what you do to yourself than on what the world does to you.”
He goes on to say, that “throughout history the greatest companies have used adverse times to their advantage … The best corporate leaders never point out the window to blame external conditions; they look in the mirror and say we are responsible for our results.”
I’ll bet Mr. Collins shares that view even today.
We know that during the last recession of 2001-2002 a number of agencies departed this earth. Probably a few of them were really good, maybe some in their space were even great. Today they’re gone.
Great leaders create great agencies. They innovate, they invest, they take risks, they plan, and they create – even in the hardest of times.
Competition has never been fiercer. Now is the time to re-commit to being great – because “good” just won’t make it today.
Sunday, February 22, 2009
Let's Give Thanks
I love the Oscars. The production, the glamour, the stars, the music. But, most of all I love the heartfelt thanks that each award winner has for those who made it possible.
Last night Hollywood paused and acknowledged and paid tribute to the excellence of its personnel. Excellence today and excellence of yesterday. I saw admiration, awe, love, homage, reverence, and respect.
For all of us caught up in the economic crisis, for all of us who are experiencing tough times, perhaps we too should pause from our daily trials of P&L management, new business proposals and client trauma and give thanks to our personnel.
There are great and wonderful people who toil in our PR agencies and client corporate departments. Pay them the respect and admiration they deserve. They are helping to keep our industry vibrant, innovative and exciting.
Thank your employees. Thank them for their hard work, their commitment, their dedication. And, while you’re at it, thank those who came before you. The great leaders who built great firms and paved the way for all of us to work in a field that we love.
We work in a wonderful industry, no matter what others may say. It’s time we acknowledged that publicly and not take a back seat to anybody.
Last night Hollywood paused and acknowledged and paid tribute to the excellence of its personnel. Excellence today and excellence of yesterday. I saw admiration, awe, love, homage, reverence, and respect.
For all of us caught up in the economic crisis, for all of us who are experiencing tough times, perhaps we too should pause from our daily trials of P&L management, new business proposals and client trauma and give thanks to our personnel.
There are great and wonderful people who toil in our PR agencies and client corporate departments. Pay them the respect and admiration they deserve. They are helping to keep our industry vibrant, innovative and exciting.
Thank your employees. Thank them for their hard work, their commitment, their dedication. And, while you’re at it, thank those who came before you. The great leaders who built great firms and paved the way for all of us to work in a field that we love.
We work in a wonderful industry, no matter what others may say. It’s time we acknowledged that publicly and not take a back seat to anybody.
Monday, February 9, 2009
Agency Lessions from the Arizona Cardinals
Growing up in NY I was a NY sports fan – NY baseball Giants (before they absconded to SF), then the Mets, also the Knicks and Jets. Now that I have lived in Scottsdale, AZ for the last 5-1/2 years, I’ve become attached to the Suns, Diamondbacks and, of course, the Arizona Cardinals.
After five years of watching frustrating futility, the Cardinals (who hadn’t won a championship in 60 years) reached and almost won the 2009 Super Bowl. So, what can we learn from this stunning turnaround?
1. It started with leadership. Ken Whisenhunt, the second year coach, and his group of coaches created a new culture in the Cardinals organization. It was a culture built on discipline and commitment. For Whiz, nothing but the best would do. He also knew he could not do it alone. So he recruited a group of outstanding coaches – leaders in their own right – to form his leadership team.
2. Their leader had a vision. The coach had a vision of the success he truly desired to achieve. It wasn’t so much the Super Bowl, as it was a vision of a truly outstanding football team with pride, teamwork and a focus on winning.
3. Their leader truly believed. When he took the job, Whisenhunt was able to persuade the team that no matter what had happened in the past, he believed in the team’s ability to become successful. His belief was unwavering.
4. Their leader lived in the present. While the media (national and local) delighted in pointing to all the Cardinals problems in the first year of Whisenhunt’s reign, the coach firmly refused to be drawn into the debate. He firmly focused on the next day, the next practice, the next game.
5. Their leader was positive when times were bad. This season, when they started well, then were routed by several teams (“the same old Cardinals!”), the coach maintained his belief that things would work out, the team was good, and the foundation he built was sound. The team would return to its winning ways. The rest, as they say is history.
Any lessons here, agency leaders?
After five years of watching frustrating futility, the Cardinals (who hadn’t won a championship in 60 years) reached and almost won the 2009 Super Bowl. So, what can we learn from this stunning turnaround?
1. It started with leadership. Ken Whisenhunt, the second year coach, and his group of coaches created a new culture in the Cardinals organization. It was a culture built on discipline and commitment. For Whiz, nothing but the best would do. He also knew he could not do it alone. So he recruited a group of outstanding coaches – leaders in their own right – to form his leadership team.
2. Their leader had a vision. The coach had a vision of the success he truly desired to achieve. It wasn’t so much the Super Bowl, as it was a vision of a truly outstanding football team with pride, teamwork and a focus on winning.
3. Their leader truly believed. When he took the job, Whisenhunt was able to persuade the team that no matter what had happened in the past, he believed in the team’s ability to become successful. His belief was unwavering.
4. Their leader lived in the present. While the media (national and local) delighted in pointing to all the Cardinals problems in the first year of Whisenhunt’s reign, the coach firmly refused to be drawn into the debate. He firmly focused on the next day, the next practice, the next game.
5. Their leader was positive when times were bad. This season, when they started well, then were routed by several teams (“the same old Cardinals!”), the coach maintained his belief that things would work out, the team was good, and the foundation he built was sound. The team would return to its winning ways. The rest, as they say is history.
Any lessons here, agency leaders?
Thursday, February 5, 2009
When Will It End?
I certainly welcome your comments (pro and con); questions, ideas, and tips for agency heads and others in senior management as well as those of you who may be considering starting your own agency business.
When will it end? That’s the question that many agency heads are asking themselves. It’s not a bad question, but I think it’s the wrong question, a question borne from the frustration that many of you are feeling. Your clients are cutting or terminating budgets and you are laying off employees, and reducing or eliminating marketing, training, and other expenditures.
This recession will end as it began – prior to any of us knowing it. But, we’ll feel it. Clients will be more positive and open to new ideas, new business activity (yes, there is plenty of business out there) will pick up. The media will become more positive. The country’s mood will be begin to lighten.
The better question today is how can we use this time to make us stronger when business does begin to pick up?
It is a big question and there isn’t just one answer. I’ll be addressing this question in future blogs. For now, a big part of what agency heads can do is sustain an attitude of abundance and prosperity, not fear. When you operate from fear you operate by necessity from a mindset of scarcity and limitation. And, if that’s the way you think that’s what you’ll get. If you operate from a mindset of abundance you will get abundance. I’m not sure why this works. I do know it does work and I have numerous examples from both my own life and those of my clients.
So put aside doom and gloom. Think abundance; stabilize your finances; accelerate your business development and marketing and take care of your current clients.
This too shall pass.
Subscribe to:
Posts (Atom)
Posts
