The Irony Of New Business In the New Normal.

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Yes we all live in the New Normal. The starting date was September 15th 2008 when Lehman Brothers went down. The largest bankruptcy filing in the U.S. as Lehman had a value of 600 billion.

I am not that good at Math but if you multiplied the 17 Million people that lost their jobs in the great recession by their average salary would you get 500 or 600 Billion? Probably close.

Everything stopped and changed around the world.

If you are 4 or 65 your life has been changed by this event. Continue reading

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It’s Time for Agencies to Stop Giving it Away.

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The Advertising Industry is a very interesting game. If you love ideas and innovation and change and craziness and stimulating people then it is a great field for you.

But, it is also a crazy business that often gives away their creativity for free.

Yet, in any city across the country you could call your local advertising agencies and say you are a client with a budget and would love to have a meeting with them so you can get some ideas from them and they will drop their drawers for free. The budget may be real, unapproved, in a planning document, or on the moon. Doesn’t matter. The client shows up and the agency performs just like the monkeys that dance for Monkey Grinders.  Remember those?

This doesn’t occur in many industries. Oh yes, I can get a free financial audit from anybody in that industry anytime, but who wants one of those? It is, however, difficult to get an insightful and introspective analysis of a company for free outside of the advertising business. And, as a bonus offer ad agencies will throw in some business building ideas for you. On top of that they will follow up by asking you how the meeting went. They will also bring in the best breakfast from the best place in town.

The last time I talked to a lawyer about an issue it cost me $400 for 30 minutes of generic advice I could have found on the internet.

Why are agencies so easy?

Well like monkeys, agencies love the elixir of possible revenue which often turns out to be peanuts. Sure, some clients are sincere in their search for a new agency partner. I have done many agency searches for clients who were very sincere and successful relationships were developed.

But 80% of clients do their own reviews and many aren’t really qualified to do that. Why? Because they are overworked, overstressed, short of people and  resources and they just don’t know how to do more than talk to a few friends they know. Clearly not the best way to find a business partner who can make or break your career or your company’s fortunes.

Some clients, just like people in life are disingenuous. They often feel pressure to achieve results that aren’t possible with the many economic and social challenges that have surfaced in the New Normal. So what is the answer for many clients?

Hey I have a great idea. Let’s do an agency review. We will be able to get great new ideas from lots of agencies to move our business forward. That sounds like a great idea Fred. How much is that going to cost us?  Nothing. We can get them to do it for free. That’s the ticket.

You don’t have to look too far to find out how great ideas can change the world and how many agencies were involved with that ideation. Great thinking is worth more than peanuts. It is time for agencies to stop dancing for free and for clients to stop asking them to dance.

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Watch:  Why It’s Time to Change the RFP Process.