Few conversations between agency and client are more difficult or uncomfortable than pricing discussions. Let’s face it—money talk is fraught with booby traps ...read more
The statistics are in: the average ad agency markup earned on an outside purchase is well below 20 percent. Fifteen years ago, it was closer ...read more
We heard an interesting fact from an agency principal not long ago. He said that his ad agency had been losing about $100,000 per ...read more
Here’s a war story. Two partners started an agency years ago. At the time, their lawyers and accountants told them to set a value ...read more
Now and then, I see an agency question on the Second Wind Forums that gives me pause. For instance, one agency asked for help assembling ...read more
Over the past decade—essentially, since the Great Recession—ad agencies and marketing firms have watched strategic relationships erode, procurement barriers arise between clients and ...read more
Moving marketing to in-house departments is a growing trend in the USA. Some of this is due to the rise of digital marketing and data ...read more
It is an industry truth: on average, 20 percent of the hours incurred on any project are ultimately not billable to the client—meaning you ...read more
Nathan Rothschild of the great European banking family is supposed to have said that “the time to buy is when there is blood in the ...read more
What’s the big deal about write-offs? No one sees them on the income statement, therefore, nothing to worry about. Right?
Every year, ad agencies ...read more
I visited an agency earlier this year and was intrigued by a comment the owner had made.
“We don’t bother with client P&Ls ...read more
Assembly-line production and manufacturing automation spurred the consumer age as the industrial revolution unfolded, making it possible to mass-produce complex products. But not every “product ...read more
Following is a hard-learned, hard-earned summary from Second Wind to you; hard-learned after years of seeing agencies fail to mind the financial store, and hard-earned ...read more
In the halcyon days of the advertising business, when the economy was stable and we had yet to be swallowed up in the global competitive ...read more
How many ad agency owners have asked about the return on investment (ROI) on their accountants?
How many owners of agencies completely and implicitly trust ...read more
We’ve written frequently about managing and working with freelancers and independent contractors. But given some of the remarks tweeted around National Freelancers Day (June ...read more
I received a letter from a friend in the agency business in California.
“The client asked to see copies of all vendor invoices coming into ...read more
Many of you are married or in long-term relationships. Think about the last big fight you had with your spouse. We’d bet even money ...read more
Just when you think you’ve heard it all…
I’m a Gemini, so while I love good design, I can appreciate the more functional ...read more