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Posts Tagged ‘business’

I know that you know what that means. It is EXACTLY how I feel today. WTF. As in WTF am I doing? Those of us who are brave enough to start our own businesses feel this on a regular basis. That sinking feeling like you haven’t done enough, reached out enough, applied yourself enough. What exactly is ENOUGH?

Enough currently for me is an account or two that help “keep bologna on the table” as an old boss of mine once said. I am not blowing the doors off anything, nor am I giving Doner or JWT a run for their money, but that is okay…its by design. So, why then, do I hit these spots of insecurity? I am trying to build a life OUTSIDE of my previous profession. As one who (in my mind) was so closely defined by that role, its hard to shake.

It manifests itself in unhealthy ways. Today I snarked at a friend who posted something online about small agencies. Its the second time in a couple weeks she has done that and left me out of the discussion. I replied with a ummm.ok…then she replied with a tag and said, “better”? I felt childish, because my response WAS childish. Either way, it was only my ego getting in the way. And, as a media professional, that was completely natural. 😉

ego

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With the news last week that P & G (Proctor and Gamble) was looking at its media buying and subsequent agency spending, it reminds me of the shifting sands that people in advertising work upon.

This statement can send a chain reaction down the hierarchy of any business quicker than high speed internet…in fact – it is most likely through the emails and digital files that most people will get this information. Spreadsheets are flying, you can bet on it.  Makes me shudder just to think of the poor sap at the end of that chain, the person who is performing the media buy as instructed by the layers upon layers of middle management.  That hard worker bee will most likely be the first one to go if the account drops its spending or leaves altogether.

The exact wording from Ad Age was: “The move to review comes as the packaged-goods giant aims to cut $500 million in agency fees and reduce the number of agencies it works with, according to comments from P&G Chief Financial Officer Jon Moeller on the company’s recent earnings call. Though P&G doesn’t disclose its total spending on agency fees, executives close to the company have estimated them at around $1 billion.”

I worked closely with some people who bought and sold ads for P & G…they are not extravagant media spenders, truly they were downright penny pinchers.  Looking at that revenue they are cutting just shows me the bottom line margin is shrinking and they – like most big business – are looking at ways to keep the top echelon earning their ridiculous bonuses while afore mentioned media buyer makes 35K and is lucky to leave work at 1pm on Fridays during the summer.  Just for the record, Bloomberg reports that Jon Moeller (the guys looking for the cuts) made $7,017,862 in total compensation. Of this total $850,000 was received as a salary, $897,600 was received as a bonus, $1,295,683 was received in stock options, $3,908,749 was awarded as stock and $65,830 came from other types of compensation.  7 MILLION dollars…really? That’s not a salary, that is the GNP for some small country, and he is only the CFO.

This revenue is shrinking because of the internet, the same exact way poor media buyer found out it was REVIEW time and cancel your summer vacation because Jon Moelller is ready to lose his bonus. Broadcast and other mediums are gasping for air trying to compete with free content and relatively low costs on social media.  The moral of the story here is that nothing, but nothing is worth any more that someone is willing to pay for it…and with all of the ridiculous TV programming and sensationalistic radio (yes, Rush – I am talking to YOU), this is why things like the net neutrality (internet equality) are important.  Internet CONTENT and drop down ads are just the tip of the iceberg…think back to dial up…THAT is how slow your favorite small site will take to load if they draw lanes in the digital highway.  Before the media can figure out a way to gouge you for surfing, pay attention.  Your vacation depends on it.

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I think in the business world, we become driven to succeed – or perform, always risking being trampled.  We have come of age in the world of many options, much information, and the innate desire to make a difference.  It starts out with the idea of being good at something, then – in my world, the competitive nature kicks in and you plunge forward. Over the last couple years of my business life, I have cycled through those feelings more than once.or twice…

When 2015 rolled around, I vowed (once again) to apply my skills and be the best version of myself I could be at the time. I know what I do like the back of my hand, but I felt the desire to create something new and different. I wanted to start a non profit. No small undertaking, and in paperwork alone can be a daunting task. If you are anything like me, I can make myself take the eye off the ball very easily by distracting myself with other “jobs”. I have continuously pulled my mind back to the focus – much like my meditation focus – back to the breath. As a result, there was a strong possibility I would lose a couple clients I currently work with and enjoy helping.  It was a risk, but I trusted if I just put one foot in front of the other and not lose focus, it would all work out.  THIS is a very unnatural state for me, and I had to work hard to maintain it.  I did not force, cajole, argue, debate, negotiate – I just let it unfold.  I was rewarded with renewals, and for that I am grateful.

All of this is great – for today, I just keep moving forward and TRUST that I am on the right path.trust word in letterpress type

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One of the hardest things to do with any client – no matter what profession you are in – is managing expectations.  That sentiment holds true in other parts of our lives, but that is another blog.  Working with a group or board it becomes even harder due to the fact there are many different sets of expectations as to outcome of project or goals.

A great example of this is a current project I am working on that has many different components attached.  The initial stages of this project my role was that of administrator and organizer.  As usually happens, with my background in sales, a few weeks later some separate duties involving sponsorship were added.  Fast forward to one month out from this event and there is some squawking on the part of one of the group wondering why I hadn’t been more successful with participants.  Through this process I have been seeking participants along with sponsorship but had not focused on this one component because it was not an original part of the discussion.  At this point I am failing someones expectations simply due to the fact it was assumed I would be taking care of that component.  Never-mind all of the successful things I have accomplished for this group – because I did not manage this particular individuals expectations.  My expectations were not met as well as I had assumed they would be gathering their own attendees.  All due to a lack of communication like working a maze of large boulders.

Image.aspx2It always comes back to that, doesn’t it?  Even when you spell it all out, something inevitably will drop through the cracks.  I suppose an expectation should be something will fall through the cracks, as perfection is elusive.

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January was as most January’s were only a little more frenetic with the crazy weather in the Midwest. So, after a particularly busy holiday season – with two less weeks between holidays – everything seemed very amp’d up. Mostly the clients. It seems those schedules that we all try to enforce and stick to, i.e. “Let’s have the year laid in by Dec 15th” were less likely to happen than my Detroit Lions going to the Super Bowl. Sad, but true.
Fast forward to early February, and a couple clients are asking where we are at on certain issues. Normally an easy answer, but not so this year. Everyone is behind, and understanding that is an important key to keeping everyone from jumping off the ledge. It may be your deadline, your “perfect” date to align forces, but there are forces stronger than you and we need to learn how to judge those times.
So, in lieu of a normal one week call, make it one and a half weeks and perhaps it is a brief email. Gently move back into discussions with a compassion for someone who possibly is pushing many deadlines. Having been on both sides of the desk, it never ceases to amaze me how some reps think you should bend over backwards for them. That is not the way it works.snow Trust me you get more flies with honey than you do vinegar.

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If the last couple of years have taught us anything it is that nothing will ever be the same in business.  We can try – but the awful economy has changed the way people think and new media has changed the way people do business.

There has never been a better time to be an entrepreneur.  The resources at your disposal are endless, and people who want to partner with you are out there as well.  Now, that being said – some partners are not the kind of partners you want.  Partners who take and want so much more in return  – no real win/win are the ones you need to stay away from.

I really believe that the recent economic downturn has resurrected a spirit of fairness and trade, at least in the people I choose to deal with.  Gone are the days of big costs, and large budgets and in vogue is a sense of camaraderie and joint ventures.  I think we have evaluated truly what is important – I know I have.  I really never wanted to be one of the Koch Brothers (for more reasons than you can imagine) … I always wanted to work with people I like and make my house payment.  I get the sense there are a lot more like me out there now – and I think its better for all of us.

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Can you feel it?  That rumble coming up from the ground?  It is the sound of creativity making its way into the hearts of people in the Motor City.  I am especially happy to living in Detroit right now because of it.

Sure, Detroit has haters…a LOT of them.  For some reason it is important to use Detroit as the benchmark for all that is wrong with the U.S.A.  We were too married to industry causing lack of public transportation, we had diversity until the riots of the 60′s sent a lot of people to the suburbs.  We are not what the media would have you believe however.

Detroit is quickly becoming the nerve central for all things creative.  Creative technology, creative thinking, creative funding, creative living.  We are sick and tired of you feeling like you haveIMGP0113 something on us.  I lived in Chicago for awhile.  When I moved back I felt like had to sell this city back to the people who lived here, they were believing the hype.  No longer.

For the record; Chicago has a 10.25 sales tax, think Kwame and Coleman were corrupt?  They actually auctioned off city jobs under Daly.   No offense to the Detroit Bad ass gangs – but Chicago gangs make ours look like West Side Story.

At the front end of all is this is artists.  Detroit and the state of Michigan over indexes the rest of the country in creative jobs.  Look, you will see it — Artists buying homes in Hamtramck, Artists living in New Center.  People like Dan Gilbert and others investing in a city that has all the same markings as any world class city and then some.  We have a riverfront, we have history, we have talent and we are running with it.  Do yourself a favor and look to Motown for your creative needs, we are ready for our close up.

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