A federal agency successfully united two companies recently after purchasing them in its first two major acquisitions of the year.
The agency spent $2 billion to purchase these two small businesses in an effort to lower the prices of the goods it provides to its customers and serve as a model for future acquisitions by the company, including plans to purchase 3-5 more companies by the end of the year and 6-8 next year. To read more about this story, click here .
Big agencies offer something unique
Big agencies offer a lot of benefits that smaller ones don’t. They have more funds, better connections and access to more resources than their smaller counterparts. Bigger companies also have more experience in some industries, and are more likely to have the specialists needed for certain projects.
And they might be able to save you money on things like office space and supplies because they’re big enough to get discounts. In fact, it can even help you land jobs with higher pay because people think bigger is better.
I just want them to stop taking my ideas without paying me anything! Smaller agencies usually only have one or two partners and therefore fewer options when it comes to accessing potential business opportunities.
If you work at a small agency, you’ll most likely be doing everything from coming up with the idea for your client’s project all the way through presenting your finished product at meetings.
The upside is that if you come up with something amazing, you’ll reap all the rewards of being its creator. You’ll see a healthy cut of profits and stand out as an individual who has valuable skills.
Your clients will appreciate having a go-to person who knows what they need before they know what they need. At the same time, any success you achieve will depend largely on how much effort you put into this part of your job.
Many newbies make mistakes by not approaching these responsibilities head-on; we recommend hiring someone else to handle administrative tasks so that you can focus on those high value responsibilities that make the biggest difference in whether your company succeeds or fails.
I really should have done this sooner! Regardless of which type of agency sounds best to you, there are ways to make both work well for you. For example, experts say you should start by identifying what sets your company apart from others and then figure out how to use those strengths effectively.
Figure out the core competencies that make your agency great – areas where you excel over other competitors. Do some research on trends in your industry and find a niche area that matches those trends.
When planning for future growth, look for opportunities to enter markets outside of your current industry so long as it doesn’t interfere with what you’re good at now.
Another thing to remember is to set achievable goals–you won’t succeed by trying to do too many things at once.
Take care of day-to-day operations first, then build up gradually. Look over where you are financially and assess any needs–like adding another partner or upgrading equipment–that could lead to improvement later down the road but may not seem necessary right now.
It’s a balancing act, and the key is to constantly analyze your progress and adjust your strategy accordingly. Whether you’re starting a brand-new agency, considering joining a larger firm or working solo, make sure you’re aware of the pros and cons of each.
Choose the path that’s best for you and your business, and the rest will fall into place. To continue, you must be a subscriber to subscribe. The federal agency successfully united two companies, the Big Agency and the Little Firm.
Big agencies offer a lot of benefits that smaller ones don’t. Bigger companies also have more experience in some industries and are more likely to have the specialists needed for certain projects.
Working at a small agency can be hard because you will be responsible for every aspect of your company’s business, from brainstorming to presentation. However, any success you achieve depends on how hard you work at it!
Make sure you hire someone to take care of your administrative tasks, and spend your energy on what will make the biggest impact on your company’s success. Spend some time thinking about what sets you apart from the competition and how you can use that to your advantage.
As you plan for the future, keep in mind that it is possible to grow within your industry, or into a new market altogether–but don’t try to do too much at once. First, you need to make sure your company is running smoothly and you’re meeting your obligations.
Then, as you get the hang of things, explore the possibilities of expanding into new opportunities. The key is always to adapt your strategies to fit whatever the situation calls for.
It’s a balancing act, and it will require a lot of time and thought on your end–but the payoff is worth it! Just focus on one task at a time and make adjustments as needed. Be honest with yourself about the resources available to you, like staff and funding, and how capable you are when it comes to different skillsets.
With all of that in mind, you’ll be able to make an informed decision about whether starting your own company is the right choice for you–or if getting help from an established organization would serve you better. Either way, you’re on the path to making your dreams come true.
You might think that it’s impossible to run a successful agency without having a ton of money and the latest technology, but the truth is, even big agencies started somewhere. One important step is to define your company’s culture: what are your values? What does it mean for you to be successful?
What kind of workplace environment do you want for your employees? Once you’ve determined what kind of agency you want to be, it will be easier to make decisions about how to proceed from there.
Make sure that you’re investing in what matters most–even though that might be difficult at times.
Mid-sized agencies have creative ideas and connections
Mid-sized agencies have a lot to offer. They often have creative ideas and connections that can be leveraged to create successful partnerships with large companies. For example, a medium-sized agency could partner with a larger company to provide specialized services or solutions not offered by the larger company on its own.
The small business will be able to charge higher rates than it would as an individual entity because of the value it provides as part of the partnership.
Agency leaders should evaluate their capabilities in order to identify potential opportunities for partnering with other companies in different industries. If an agency is lacking in certain capabilities, it may seek out partners who have those skills so that they can maintain a high level of service for their clients without having to hire additional staff members or build new resources from scratch.
Partnerships between smaller agencies and larger corporations are particularly beneficial when the smaller agency has access to specific knowledge or experience that the corporation needs but does not have.
An example might be a manufacturing company looking for expertise related to welding equipment design and construction; in this case, a small welding equipment manufacturer might find it advantageous to form a partnership with such a corporation if they want to expand into international markets.
A smaller agency might also benefit from partnerships with larger companies because the affiliation provides credibility and leverage among competitors and clients. By collaborating with other organizations, a business is more likely to stand out among competitors and gain credibility within the industry.
Agency leaders should be aware of challenges associated with forming partnerships with bigger organizations: Agencies are at risk for being absorbed into corporate cultures or becoming overshadowed by their large partners.
There is also concern over protecting intellectual property in cases where one partner doesn’t sign an agreement regarding ownership rights before collaborating on projects together. Additionally, some businesses may feel pressure to sell off assets that do not fit within their core competency just to make room for what a big company wants them to do together.
However, these drawbacks should not overshadow the benefits of forming partnerships with larger organizations. It is possible to work around these obstacles through creativity and planning.
Some mid-size agencies manage this well by focusing on serving niche markets while also maintaining an open mind about collaboration opportunities that come their way. Another option is to merge with another company in order to take advantage of synergies.
Again, there are advantages and disadvantages to merging two companies together: two sets of customers may need to be merged into one customer base or two sets of employees might need to change roles in order to accommodate the new management structure.
In addition, there’s no guarantee that a merger will increase revenue. Mergers require lots of consideration because changing structures can impact efficiency levels–this is something any business must keep in mmind companyMid-sizedMid-sized arrangement with another coed arMid-sizedind when considering whether to enter into such an arrangement with another company.
However, mergers have a lot to offer, too. Like partnerships, mergers can help companies enter into new markets and capitalize on new opportunities for growth. One major factor to consider when weighing the pros and cons of a potential merger is the culture of each organization.
Some companies may not be interested in merging with a company that is in direct competition with their current practices or that offers an incompatible organizational culture. On the other hand, two companies that share similar goals and values may be a good match for a merger.
Culture is especially important to think about when evaluating partnerships or mergers because organizational culture can affect a company’s ability to innovate. Employees should be carefully considered when deciding on an organizational restructuring like a merger or a partnership.
Employees are typically the ones most affected by these types of changes, so it is vital to have honest conversations with them about their expectations and concerns before going forward with the restructuring.
Engaging employees in the decision-making process is essential to ensuring that a company makes wise choices about how to operate in a post-merger environment.
The best-case scenario for a merger is when the two companies are able to combine their strengths and continue operating in a cooperative manner, with joint leadership that understands the needs of both organizations.
The worst-case scenario for a merger is when the two companies end up fighting against each other, resulting in chaotic or destructive internal dynamics that undermine morale and productivity.
When choosing an organizational restructuring, it is important to ask oneself tough questions about why the merger or partnership is happening and what it means for employees’ jobs, as these factors are often intertwined.
After a company decides to move forward with a merger, the next step is to think about who will be leading the newly combined companies. This person may come from either of the two companies or from outside.
Leaders should ensure that the two companies stay committed to their original missions and find ways for those missions to overlap and complement each other. If the companies are unwilling to compromise and instead try to maintain their independence, the merger is unlikely to be successful.
If a company chooses not to pursue a merger or partnership with another company, it can still look for external resources in order to improve its offerings or expand its reach.
Examples of external resources include working with other independent contractors and/or partnering with other organizations that provide complementary services.
Partnerships can be set up in different ways: for example, one party can own 51% of the shares in another party, or one party may give money to the other in exchange for equity stakes.
Smaller agencies are nimble, flexible and affordable
Smaller agencies are able to offer a unique perspective on the client’s needs. They are nimble, flexible and affordable. This is why they have become such a popular option for small to medium sized businesses.
In this case, there were two companies that had been fighting for control of their company for years. The situation had left them both frustrated with the other company and with themselves in general.
The frustration was clear in their communication; it seemed like no one could come to an agreement without one of them turning into a vicious attack. The smaller agency got involved because they saw how much pain this was causing these two companies who were otherwise very successful in many areas.
They wanted to help them find a way forward that would work for both parties. After all, there was so much potential for growth if only the companies could learn how to collaborate instead of compete.
They were also worried about what would happen if the conflict continued unabated as more staff members took sides. Fortunately, they found an experienced mediator who helped them create a set of concrete steps each company needed to take in order to move forward with resolution and collaboration rather than open conflict.
It wasn’t easy by any means but eventually, they found a way where everyone felt respected and listened too while still maintaining some autonomy and individuality which makes any business strong! And when they did come up with a solution, the air changed immediately.
The two men came up to the mediator and said thank you profusely before shaking hands and leaving. A few weeks later, they botbotho disagrSmallergreeing to dislerg to dislSmallerSmallerust agreeing to disSmallereing to disleh contacted us to say thanks again – now they’re working together not just agreeing to disagree! A new side-by-side initiative has opened up that creates opportunity for cross-promotion, cooperation and growth for both companies.
With mediation as the tool to allow them to communicate clearly about everything from financials to creative design and programming, the need for outside counsel is being eliminated.
We believe in having conversations first – face-to-face or over a call – before coming back with recommendations or decisions. When we can figure out what people want most at the outset, our work becomes easier, better understood and ultimately sustainable.
One thing to keep in mind is that even though the two companies had a lot of success, they were ignoring the emotional toll the ongoing feud was taking.
That doesn’t make for a healthy workplace, and it won’t lead to sustainable growth. Instead, this experience with mediation has taught them something: At the end of the day, a company should be judged by how well they serve others.
This type of win/win mentality will change their future for the better and give them new momentum for doing good work. We hope to continue to work with them and are proud of the work that we were able to do for both companies.
The team of consultants and coaches at COHEN CONSULTING is committed to finding a way forward that brings clients and their teams together in a productive manner, including mediation. If you are interested in learning more about how we could help your company, please contact us today. We would love to help you.
One of the things we’ve learned as a company is that it isn’t always about money. For example, one company was considering letting go of their in-house IT department and hiring an outsourced service.
The idea had merit, and they could hire a firm that could handle the majority of their systems management and security issues with ease. However, what they hadn’t considered was the impact this would have on their employees’ ability to earn extra income or provide for their families.
They were getting burned out due to hours spent at work and didn’t feel like they were able to balance work with life outside of work. Ultimately, they decided to focus on fixing the problem internally so that they wouldn’t need to let anyone go. After some soul-searching, they identified three major issues.
First, there wasn’t enough communication from the top down to the bottom up (this being a common issue when organizations grow quickly). Second, their core values weren’t lived throughout the organization; this was partially because of leaders feeling micromanaged by their higher-ups and also because leadership positions became less satisfying overtime due to increasing expectations from all areas.
Third, there needed to be a change in culture so that it emphasized constant improvement and innovation. What’s interesting is that all three of these are fairly easy fixes if you have honest conversations with everyone involved! With increased transparency and a renewed focus on communicating needs, the employees felt like they knew where they stood.
This led to a positive uptick in morale and productivity, which of course led to greater efficiency. With a shift in culture that encouraged creativity and entrepreneurship, many of the problems faced by the company shifted to solutions that brought about continuous improvements.
As a result, the CEOs found themselves energized by their business again and looking forward to growing into the future! The smaller agencies are nimble, flexible and affordable.
They’re just the right size to get involved in a project and help get you through a rough patch. We’d love to talk with you about what we could do for you, too. Give us a call at ____ or _____ and we’ll talk.
The team of consultants and coaches at COHEN CONSULTING is committed to finding a way forward that brings clients and their teams together in a productive manner, including mediation. If you are interested in learning more about how we could help your company, please contact us today. We would love to help you.
One of the things we’ve learned as a company is that it isn’t always about money. For example, one company was considering letting go of their in-house IT department and hiring an outsourced service.
The idea had merit, and they could hire a firm that could handle the majority of their systems management and security issues with ease.
Hiring an agency can help you avoid costly mistakes
An agency can help you avoid costly mistakes. In recent years, many companies have made the mistake of not doing enough research and vetting before hiring a company to represent them.
This can result in lost or less business, bad word-of-mouth, and a tarnished reputation. Hiring an agency that you trust to represent your brand allows you to focus on what matters most: running the day-to-day operations of your business while they handle the details of branding.
Hiring a Federal agency is one way for businesses to mitigate this risk. The mission of the Federal Trade Commission (FTC) is To protect consumers by preventing anticompetitive, deceptive, and unfair business practices.
Businesses who hire an FTC accredited agency are assured their marketing is legal and compliant with all Federal Trade Commission regulations as well as State laws.
Agencies that are affiliated with the FTC must adhere to strict standards for fair advertising practices, truthful and accurate information about goods or services, truthful disclosure of any material connection between themselves and their clients, and full compliance with U.S. trade laws.
Maintaining FTC accreditation ensures agencies remain up-to-date on all developments relating to consumer protection law so they’re able to identify risks before they become problems.
A company doesn’t need to be a member of the FTC themselves to use an accredited agency – it’s just important that both parties work together closely and comply with the same guidelines.
It’s worth it for both parties involved because working together gives them more opportunities for success. As long as you make sure the agency you choose is up-to-date on all the latest changes in consumer protection law, there should be no problem.
One more thing to remember when choosing an agency: Remembering that size doesn’t matter. If the smaller company has been around longer and has built a reputation for quality service over time, then chances are they will outperform larger agencies in almost every area.
As long as you do your research and find out if the agency works with other big brands, there shouldn’t be any problem when using an accredited agency like the FTC .
Remembering that size doesn’t matter will also help you decide which is best for you; if a small firm has been around longer than another firm, then chances are they will outperform larger firms in almost every area. Smaller agencies may also offer better rates.
Additionally, they typically don’t have much overhead costs since they often only contract out freelance graphic designers or copywriters and don’t require physical office space. When choosing an agency, you want to look at both the quality of the work as well as how much experience they have in your industry.
But how does one find reputable agencies? Well, that’s where our online search engine comes in handy! We developed our website to connect people with trustworthy brands through user reviews and ratings, insightful articles about popular topics such as small business marketing tips, case studies about how other successful companies increased revenue by partnering with us – we even offer digital downloads for some great marketing tools like Facebook Cover Photos! All this without ever having to leave home!
Outsourcing your marketing isn’t giving up control – it’s gaining power over your marketing budget.
Some small business owners feel that outsourcing their marketing is a sign of weakness. Instead, it’s actually the opposite. Outsourcing can give you more control and better management over your marketing budget.
You no longer have to waste money and effort on activities that you don’t want or need, such as print ads or TV spots. What’s even better is that you’ll be able to stay ahead of trends and developments in your industry, making sure you’re on top of the game at all times.
As an example, if an important decision were made by another company – like Apple announcing a new product – then you’d know about it and be prepared to react quickly before anyone else does. In addition, you’ll be able to customize campaigns based on what’s working for other companies with similar offerings.
The possibilities are endless! If you’re interested in learning more about how outsourcing your marketing could help your business grow, just reach out to our team for more information! We would love to hear from you soon.
One of the most important factors to consider when hiring a digital marketing firm is trust. Trusting your vendor to deliver what they promise in exchange for their fees is critical because it can make all the difference in achieving business goals and making strategic business decisions. So do you know who to trust?
Are you looking for a digital marketing company that can provide the services you need in order to achieve your marketing goals? If so, then it’s important to find one with a proven track record of success.
And finding out that they’re trustworthy is just as important. In fact, one of the most important factors to consider when hiring a digital marketing firm is trust: trusting your vendor to deliver what they promise in exchange for their fees. So do you know who to trust?
How do you choose a brand partner?
The first step in the process is to identify your needs. There are three things you should consider when choosing a brand partner: 1) do they offer services that align with your company’s goals, 2) will you be able to grow with them, and 3) will they offer the type of expertise you need?
Once you know what you’re looking for, it’s time to start narrowing down your list of potential partners.
The next step is to get some quotes from each potential partner and compare their rates. Don’t forget about other financial factors like payment terms, which can help offset any one-time expenses like logo design and website development.
To determine which firm should get the green light, there are some questions that need answering. Our experts recommend asking these questions before signing on with any agency (even those vendors you’ve been working with for years).
If an answer doesn’t seem right, keep probing until you get what you’re looking for. Here are 10 must-ask questions
- What types of clients do you work with?
- Who are your competitors?
- What services does the agency offer?
- What is the agency’s experience level in my industry?
- Can you provide references from past clients? 6. How long has the company been in business? 7. Is there a contract or agreement that I should sign before we begin working together? 8. Does this agency specialize or focus on any particular industry (i.e., healthcare)? 9. Does this agency have a specific target market (i.e., Millennials)? 10. What can I expect as far as costs go and how will they be billed?