Partnering For Growth
Partnering For Growth Is Another Approach to Achieve 20% Growth for Your Agency
Partnering For Growth is the second of the three key pathways to achieving a 20% rate of growth for your agency.
Here’s the challenge:
- Your agency does better if you stay highly specialized
- But… your client has full-service needs
- And, your client doesn’t want to work with 5-6 different agencies
How are you going to remain BOTH highly specialized AND offer a range of services/capabilities (deliver value) to your client?
The answer might be Partnering for Growth.
By developing trusted relationships with other specialists and agencies that can provide complementary services to yours, you play the role of general contractor.
Here are the pros of Partnering for Growth:
- You retain control as the point of contact with the client – maintain relationship,
- You provide greater value to the client,
- You increase the capabilities and relevancy of your agency, and
- You remain a specialist (focused) within the boundaries of your expertise.
But, there are challenges as well.
- Owning the relationship (sitting at the head of the table)
- Can you create enough margin for yourself AND your partners?
- In creating that margin, can you remain competitive and deliver value to your client?
- And, can you manage all of the personalities and needs of both the client and your partners?
You need to be able to manage all of the parties and personalities involved in the project. That can get tricky. You also need to balance your ability to deliver great value and maintain enough margin in the project to create profit for yourself and all of your partners. But in return for playing this general contractor role, you grow the capabilities your agency can deliver much more rapidly than in the organic growth approach. And you retain the higher visibility and value that comes with staying specialized within your agency.
Is Partnering For Growth The Right Approach For You?
In over 10 years of consulting, I’ve had the opportunity to work with a wide range of agencies, 50+, and in many cases working with a partnering for growth strategy. As an agency specialist, I’m uniquely qualified to help you understand the pros and cons of various growth strategies as applied to your highly specific circumstances.
As this series of blog posts and videos continues, I’ll walk you through alternative agency growth strategies that can be applied alone or in conjunction with others. So make sure you get on my email notification list using the form in the right hand column on this page.
And if you’d like to have a personal chat about how your agency is dealing with growth (or the lack thereof) then please contact me directly. I’d be happy to provide you with a free consultation.
