Walrus

Own It LA in the books! I moderated a panel of legal and accounting experts Samantha Rothaus Jennifer McCabe - Armanino and Sharon Toerek and it was so fun (really)! Key takeaways: Protecting your agency’s IP: Be fierce about protecting and leveraging your agency’s IP - after your people, it’s your biggest asset. Papering your Relationships: Agency contracts are a vital tool for your agency’s profitability. Treat them like investments in your agency’s future fortunes. Equity & Ownership Be vigilant about recognizing your agency’s money, assets and profitability accurately. It will pay dividends as you scale or if you ever plan an exit from agency ownership. An Investment not a Cost Having top legal and accounting partners in your corner as an agency owner is critical to driving growth. “Back office” is the foundational bone structure for growth and a way to make money rather than managing risk. Thank you, Christy Hiler and Jean Freeman for hosting yesterday’s event. You crushed it and then some. Proud to know you both. Haley Hunter Peyton Sutton Ashley Walters, APR Alyssa Siegel Sarah Corbin Trish Adams Kate Higgins Stephanie Noris Jennifer Harrington Jo McKinney Ellen Praytor Faulkner Asmirh Davis Tracey Faux Pattani Nora DiNuzzo Shannon Jones Yadira Harrison Lori Murphree Toni Lee Carrie Kerpen Christine Guilfoyle Elizabeth Rosenberg Owen Williams Robin Boehler Mary Lou Bunn Joanne Davis Rachel Huff Mandana Mellano Avigail Schlosser Terry Stanley Doug Zanger Steve Sapka

Ad Age Small Agency Conference panel in the books! We talked agency models and compensation strategies. Key takeaway: understand your agency’s worth and negotiate accordingly. The early days of a relationship are critical to establish an engagement based on mutual respect. Make sure you negotiate terms that are favorable to your agency and don’t fold. It will set the tenor for the rest of the relationship. Judann Pollack Ruth Bernstein Brett Banker Alyssa Siegel Paula Beer Levine Olivia Johansson Deacon Webster Susan Forrest Walrus

"My biggest piece of advice is don’t be afraid to defend your agency...clients will respect an agency leader who is firm and clear." Thanks, Lindsay Rittenhouse for the conversation. Know your agency's worth and negotiate accordingly. At the beginning of a relationship, you have a lot more leverage than you think so (in the words of jeff Goodby and Bonnie Wan) don’t be afraid to "walk into the fire" and establish favorable terms for your agency. Also, make friends with whomever is on the other side of the table, especially procurement. Get to know them. Understand their perspective. Walrus has several procurement leaders on the agency's holiday mailer list. It's appreciated. Importantly, while you will need to be flexible, do not fold the minute a marketing or procurement team pushes back. They will push back as they should. Remember, clients want what you have, and if you believe creativity drives business, it's okay to be "reassuringly expensive." How you handle this upfront contract negotiation sets the tenor for the rest of the relationship.