How to Thrive as an Independent Agency
Like other entrepreneurs, I started my agency based on a dream and a vision. I started in this industry at 19 years old and immediately fell in love with the work. I also knew that I wanted to start my own agency, which I did as soon as I had enough experience.
Also like others, I wasn’t really thinking about whether or not I was still going to be independent 20 years from then. In the early days, you put your head down and do your best to keep the lights on and pay your employees every month. But, then, you blink and it’s suddenly 20 years later. It reminds me a lot of being a parent: where your small human suddenly becomes a college student seemingly overnight.
The world is changing and consumers are changing. The job of an independent agency is to remain at the forefront of everything, trying your best to change with the times but remain true to what makes you special.
Here are some of my insights I’ve learned from 20 years of independence.
Embrace the power of decision making
I believe that remaining independent can create a major positive for an agency’s clients. Clients appreciate that they have much more direct access to executives and the people who pitched their business than at larger agencies. They can say - and demonstrate - that the same people who they trust with their business and money are the people they can call when you need help.
Grow at your own pace
Being an independent is about being able to chart your own path and take big swings with your future. By controlling your own destiny, you can choose where they allocate funds and how they make bets without needing to get approvals from a distant office. That freedom comes with opportunities and challenges. You may decide to launch a new division or chase a new client, which can create a huge win or a crushing defeat. There is an inherent power in making your own decisions, but you must do so wisely.
Understand your limitations
The biggest challenge to remaining independent can be the lack of access: access to capital reserves, large holding company-wide relationships, or other expertise from other divisions. You must try to avoid overextending yourself and keep cash on hand. You also may need to hustle more for work, even though doing a great job should lead to more new business through word of mouth.
Ultimately, there is a reward in knowing that whatever you’ve done, you’ve accomplished on your own.
Lean into your strengths
Agencies excel when they make the right connection with their clients, and work collaboratively on bringing to life their collective vision. Controlling your destiny often means it’s easier to control your consistency. You can create the right team to serve every client, and play the long game on growing our business with them.
Keep an open mind to opportunities
We’ve had several acquisition offers over our history, but we’ve never received an offer that made sense. And while we’re very happy as an independent, we always take the time to hear out what others are proposing. But we think about it this way: once you’re a part of a larger company, you’re one of the potential solutions - as opposed to THE solution or THE preferred solution.
Ultimately, independence is the ideal for most agencies
While every company can create a culture that feels like a family, it’s more likely to be embedded in an independent agency, especially one still led by the founder.
While every agency is different, we feel a real responsibility to preserve the culture we’ve built up here for 20 years. Sure, keeping the name is nice, but that’s not the point. Never say never to a future opportunity, but it is my sincere hope and intent that we'll continue that way for a long time. I suspect many independent business owners feel the same.
