What an Acquirer Will - and Will Not - Care About
Most of us haven't sold one firm that we've owned, and those principals who have formerly sold their firm aren't always...ahem...telling the truth.

Most of us haven't sold one firm that we've owned, and those principals who have formerly sold their firm aren't always...ahem...telling the truth.
In a nod to the Walt Whitman line, Blair believes successful sales people - as well as agency principals - often need to present themselves as different personalities in different situations. And David believes sales trainers are actually therapists.
As we've seen independent creative marketing and digital firms experience rapid growth over this past year, David offers five factors that principals should consider in order to avoid growing for the wrong reasons and/or mismanaging that growth.
Having a problem with either hearing or saying "no" can lead to problems for your business. Blair has 12 statements about the word "no" that can help.
When people from other industries learn about what goes on inside your firm, are they awe-struck in a good or bad way? Blair and David come up with a list of things that are unique to the creative firm biz and how they've seen outsiders react to them.
Blair shares an overview of all the communication tools creative firms should be using throughout the sales process.
David and Blair discuss what the four performance bands are, eleven critical factors that keep firms stuck at the lower performance bands, and what firms can do to move into a higher band.
David is in a cynical mood and takes turns with Blair sharing clichés they hear their clients use to describe their business.
Blair stops to think about what "agency" actually means, and if it's the right term to describe firms in the creative services space.
David lists eight truths about money that he's identified in his efforts to help entrepreneurs make better business decisions.
Blair addresses the internal struggle for margin that happens in many firms between delivery teams and business development teams due to their lack of distinction between cost and price.
David wants entrepreneurs to live with tension in various aspects of their business, using it to their advantage in making important decisions instead of just worrying about resolving the tension itself.
Blair offers some ways to help prevent over-excited new business people and principals from giving away the shop and appearing unprofessional.
David draws a picture for Blair about the implications of this statement he hears almost all of his clients and prospects say about being able to close new business.
Blair shares the tradeoffs creative firms have to deal with when pursuing firms of a particular size, and David gets Blair riled up again about procurement.
As agencies are trading their big city offices for working at home during the pandemic, Blair wants to know if David thinks he should get into real estate.
David thinks firms have too many meetings and offers some solutions, and Blair pushes back.
David torches Blair's highfalutin notions of timekeeping and offers four instances when timekeeping can actually be used without polluting your pricing.
David articulates five fears that tend to shape management style and impact decisions principals make for their firms.
In part two of their specialization conversation, David and Blair address six arguments they have heard from certain clients who toyed with the idea of broader positioning for their firms.
David and Blair have experienced a backlash against experts, expertise, and specialization thanks to David Epstein's book, and they disagree on whether or not it's worth reading.
Blair and David discuss three tiers of inbound and outbound marketing that firms should be using for new business development.
David and Blair address a listener request to go over the challenges that principals often go through once they decide to reposition their firm.
Blair wonders if he's made an error in his efforts to prevent agencies from going into presentation mode during the sales process.
Blair predicts when we are through the COVID-19 pandemic and business is approaching normal (whatever that means), agency principals will look back with some regrets about the things they did not do, rather than the things they did. LINKS "Four Regrets You're About to Have" by Blair Enns "Play the Game of Constraints" by Blair Enns...
Blair and David, as two white business leaders, try talking about the traumatic and emotional yet very necessary changes happening now to end systemic racism. As they listen and allow space for the voices of diversity that need to be heard, they also struggle with when to speak up as examples, owning up to their mistakes which will hopefully help lead the way for real change. LINKS "How I'm Trying to Process Things Right Now" by David C. Baker "Speech and Systems" - episode 186 of Exponent podca...
David is frequently surprised by how many new business people have trouble answering five particular important questions about their jobs and their firms.
Blair gets David to share a part of his upcoming book about how all client relationships have a cycle of love-hate-love that we have to be prepared for and push through.
David expects to get in trouble discussing Blair's topic about the role of friendship in business—between sales people and prospects, account people and clients, and principals and employees.
David and Blair try to predict the future about what principals of creative firms can expect in their relationships with clients as the COVID-19 pandemic continues to impact business.