Be wary of one-size-fits-all advice
Let's face it: we all like easy answers. When an "expert" tells us that to be successful we need to do X, Y, and Z we naturally want to believe it.
Clients come to me all the time and say, "here's my problem, just tell me what I need to do to fix it."
The reality is that what works for one person or business may not be quite as effective for another. That's especially?true in the world of agency ownership.
There's a reason why Gini Dietrich and I end each week's podcast episode by saying "It depends." But the truth is that there's a real incentive for advisors like us to make bold and definitive statements about the right course of action. That's the content that "sells" and helps to attract new clients.
I'll explore this a bit more later in the newsletter, but first let's see what's new this week.
— Chip Griffin, SAGA Founder
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Get over your fear of hiring employees
In this episode, Chip and Gini discuss the fear of hiring employees, the implications of using contractors, the financial considerations, and the benefits of having employees (more)
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In this episode, Kristian shares insights about his agency, Threadline, and the art of crafting a narrative that is relevant, meaningful, and inspiring to the audience. (more)
Weekly Roundup
Below are some articles, blog posts, podcasts, and videos that we came across during the past week or so that provide useful perspective and information for PR and marketing agency owners. While we don’t necessarily endorse all of the views expressed in these links, we think they are worth your time.
— Jen Griffin, SAGA Community Manager
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AI in Focus
Be wary of one-size-fits-all advice
Wouldn't it be nice if the Magic 8 Ball really could give you a correct answer to any question you ask? Sometimes we're just so frustrated with not knowing the answer to something that we will accept almost any advice as long as it is delivered confidently.
It's easier than ever for experts -- myself included -- to share our points of view in articles, videos, podcasts, and more. If you want the answer to any question about running your agency business, you can probably find an answer online pretty quickly.
Of course, if you spend a few more minutes digging, you will likely see someone offering the exact opposite advice.
Let's take a favorite one for agency owners as an example: time tracking. For as many advisors (like me) who believe that agencies should be tracking the time of employees and principals, you are likely to find just as many who would tell you to not waste your time with them (pun intended).
Ultimately, every agency owner needs to look not at the recommendation itself, but the rationale behind it to understand what the right solution is for their own business.
This is especially true when it comes to tax and regulatory advice. There is no shortage of suggestions about tax strategies and compliance approaches out there. Many are framed in the form of "if you don't do X, you are costing yourself thousands of dollars" or "if you do Y, you are putting yourself at huge risk."
These gross generalizations can be particularly dangerous because there are often specific circumstances that may change the assessment for individual agencies. In the United States alone, there are countless state and local laws and regulations that might make a good idea for 90% of the audience a very bad one for the rest.
By all means keep listening to experts -- after all, I want you to listen to my podcasts, watch my videos, and read my articles (and newsletters!) -- but be skeptical, seek out contrary opinions, consult your own professional experts (especially for tax and legal issues), and arrive at your own conclusions after you digest that information.