The New New Business: Why the Great Equalizer Is Time with Ed Koenig

Ed is the US head of business development for Final Cut, Significant Others, and Machine. Prior to that, he spent the better part of 15 years at MPC Advertising and, before that, at Ogilvy & Mather LA. As US Head of Business Development, Ed helps to expand client relationships and business development opportunities for Final Cut and its sister companies, Significant Others and Machine.

LBB> What was your first sale or new business win? (Was it a big or small job? How difficult or scary was it? What do you remember about how you felt? What lessons did you learn?

Ed> I started out in colour. There is such a high volume in that part of the business I have absolutely no idea what my first sale was. Going really far back, I got several people to donate money to my middle school’s fundraiser. Generally, I would compliment people on their lawns before asking them for money. Even at 12, I was pretty shameless.

LBB> What was the best piece of advice you got early on? 

Ed> Not advice, per se, but something I overheard my dad tell someone: life isn’t fair, but the great equalizer is time. It’s the one thing we all get the same amount of, no matter who you are. Don’t take people’s time for granted. Be prepared when they share their time with you; it’s a gift. Have your presentation ready, listen to what they want, and don’t just bore them with the stuff you want to talk about. It’s not about you, it’s about them.

LBB> And the worst? 

Ed> “Just get the job in the door.” You’re not trying to sell someone something once. You’re trying to turn them into your regular client. You don’t want them to come in once - you want them to come in three or four times a year. If you push too hard on the wrong project, you might hit your numbers that month, but you’ve lost their trust.

LBB> How has the business of ‘selling’ in the creative industry changed since you started?

Ed> I don’t think my overall approach has changed much. I’ve always been more interested in helping people solve the problems they’re tasked with solving. The overall spending is pretty similar to what it was when I started; it just seems like our clients are being asked to produce a lot more in that same amount of time for the same amount of money.

LBB> Can anyone be taught to sell or do new business or do you think it suits a certain kind of personality? 

Ed> Sure. I think everyone can and should have their own style. You can’t get through life without some level of salesmanship, whether selling through your creative concept, negotiating a pay raise for yourself, or talking your contractor into doing a little extra work. You always have to be selling someone something. I don’t think sales is the dark art that people sometimes think it is.

LBB> What are your thoughts about the process of pitching that the industry largely runs on? (e.g. How can it be improved - or does it need done away with completely? Should businesses be paid to pitch? What are your thoughts about businesses completely refusing to engage in pitching? How can businesses perform well without ‘giving ideas away for free?) 

Ed> I suspect this question is geared more towards agency people. From “the vendor side,” I have noticed the treatments keep getting longer and more involved, which costs companies like ours more and more money. On the other hand, it can get the directors/artists in front of the decision-makers at brands/agencies, and they may connect in a way that the reel doesn’t show. I guess that’s a long-winded way of saying I don’t know.

LBB> How do you go about tailoring your selling approach according to the kind of person or business you’re approaching? 

Ed> I ask people what they’re trying to do and how I can help them rather than immediately trying to sell them something they don’t want or need. People make stuff with someone else. They’re not sitting on their hands waiting for you to show up. If you’re going to work with them, you have to be better than the people they’re currently using. So my question is always, how can I make this experience better for you?

LBB> New business and sales can often mean hearing ‘no’ a lot and quite a bit of rejection - how do you keep motivated?

Ed> I’ve been very fortunate to work with some of the best artists in the world over the last 15 years. It’s not personal. Someone else was a better fit for that project. 

LBB> The advertising and marketing industry often blurs the line between personal and professional friendships and relationships… does this make selling easier or more difficult and delicate? 

Ed> My best relationships in this industry are the ones where we can call out that we’re shifting from friend mode to work mode mid-conversation. We can talk about the specifics of a job that’s upcoming or perhaps currently going on and then shift back to the usual drivel I talk about with friends.

LBB> In your view what’s the key to closing a deal? 

Ed> I wish we had that level of control. I think in our industry, that’s mostly determined by media buys. Eventually, people have to award a job to someone if they want to get it done in time.

LBB> How important is cultural understanding when it comes to selling internationally? (And if you have particular experience on this front, what advice do you have?)  

Ed> If you ever go to Tokyo, bring way more business cards than you would ever imagine needing. In fact, bring the whole box. You’ll probably still run out. The exchange of business cards in that market is very real. Not only is there a whole protocol for the exchange, but you will be judged by how closely you adhere to it, how deeply you bow, and what condition your card is in when you hand it to them. Giving them a beat-up card that’s been in your bag for six months is probably even more insulting than not having a business card. I panicked and gave out a card that had been in my wallet for six months, and the guy just stared at it like I had handed him an old sock.

LBB> How is technology and new platforms (from platforms like Salesforce and Hubspot to video calls to social media) changing sales and new business?

Ed> I’m so thankful to be at a place like Final Cut that doesn’t use CRM platforms.  We’re small enough and we talk regularly enough that we know who is talking to whom and respect those relationships that are already in place.  For me, it’s a team effort getting work in and retaining clients once they’re in the door.

LBB> There’s a lot of training for a lot of parts of the industry, but what’s your thoughts about the training and skills development when it comes to selling and new business?

Ed> I think, generally, you get handed an Amex and sent on your way to figure it out, and if you don’t figure it out, they take the Amex back. Unfortunately, I don’t have a better solution for this one.

LBB> What’s your advice for anyone who’s not necessarily come up as a salesperson who’s now expected to sell or win new business as part of their role? 

Ed> Stop talking. Listen.