Growing Your Agency Business

Want to scale your agency business?

Imagine how much faster you could grow if only you could have a small team of 3-10 people working for you.

But, how can you take your business from a ‘one-man-show’ to being able to afford to grow your team?

I sit down with Entrepreneur Vince Powers, who shares how he took his agency business from a one-man-show to an award-winning PR Firm. 

 

Here’s what you’ll discover:

1 – What were the key decisions and/or tactics that launched your business from zero to six figures?

2 – What were the biggest mindset shifts?

3 – What was the most expensive mistake you made in your business and how did you recover from it?

4 – What were the biggest hiring mistakes you had to learn from?

 

Vince Powers is the founder and president of Powers Brand Communications LLC, an award-winning public relations and content marketing firm based in Philadelphia. Recipient of Philadelphia Business Journal “40 Under 40” award. His clients range from emerging growth companies to nationally recognized brands in the consumer/retail, B2B space, and franchise brands working with both franchisors and franchisees. Connect with Vince at https://powersbc.com/ 

 

ENGAGE IN THE CONVERSATION WITH US!  

Share your comments on any of the questions below.

1- What is one nugget that encouraged you from this discussion?
2- What question do you have about scaling your business?
3- What tip can you add to help other entrepreneurs to hire a great team on a small business budget?

 

GROWING YOUR AGENCY ~ TRANSCRIPTION OF OUR VIDEO EPISODE

  • Please note that some words may not have been correctly spelled or transcribed correctly. Time markers listed may also be slightly inaccurate For best accuracy and learning experience please be sure to watch the video version here:  https://youtu.be/PLSdCdcf27A

 

@05:37 – Yoon Cannon (paramountbusinesscoach.com)

Well, hello everybody. We are back today I’m talking to Vince, and Vince is the owner of Powersbc.com, which is a PR agency.

And we’re tackling and just talking about the conversation, the challenge of growing your team when you’re trying to scale your business.

So I’m excited that Vince has been able to to the grid. To kind of open up his challenges and his personal journey.

So I’m excited to learn from your experience. So, Vince Powers, let me talk to you guys a little bit about who Vince is.

He is the founder and president of Powers Brand Communications. They are an award-winning PR agency here in the Philadelphia area.

And he’s written as a recipient of many awards including the Philadelphia Business Journal 40 under 40 awards. Now, this is clients, they range from emerging growth companies to nationally recognized brands in the consumer, retail, and BTB sectors, as well as he tackles a lot of and helps a lot of franchisees and franchises.

So if you’d like to connect with Vince, his website again is powersbc.com. But we are here today to talk about his challenges.

So anyway, welcome Vince, and thanks for joining us.

 

@06:56 – Vince

Thanks for having me, I appreciate it.

 

@06:57 – Yoon Cannon (paramountbusinesscoach.com)

Yes. So Vince, it’s. Series really allows us to just talk about what are the lowest low points in your journey.

As an entrepreneur and in growing your business, would you say would you consider your business a family run business?

 

@07:15 – Vince

No, I started it. Okay.

 

@07:20 – Yoon Cannon (paramountbusinesscoach.com)

I thought for some reason you were working with your wife or what not skip that part. But anyway, so talk to me about what was one of the lowest points in your journey and talk to me about what you did to overcome that.

 

@07:40 – Vince

So thank you very much for this opportunity. I would say instead of one of the lowest points, maybe one of the hardest points.

When I started this firm ten years ago, and previously, I had worked for large firms. I’d worked for a large international firm based out of Washington, DC.

We had several offices, several hundreds fee. I work for a larger firm up here in the Philadelphia region, again, between both the public relations advertising north of 100 people.

When I started this firm ten years ago, it was all of a sudden it was me. So, you know, I was was trying to figure out, how do I build my business, when do I hire, and who do I hire?

And I was trying to do everything kind of myself in the beginning. So one of the things that I learned early on was contractors are not a bad thing.

When I started to have a certain level of work coming in, I reached out to some people that I knew who didn’t necessarily want full time work for whatever reason.

They just wanted 1015 hours a month, maybe 20 hours a month. And they had certain areas of expertise that I did not like copywriting or design or research.

And it took me about the first 18 to 24 months. To really feel comfortable to bring on contractors. And you get to a point where they feel like employees.

And the great thing about contractors, quite honestly, is you can test drive each other. They can work with you, you can work with them if it’s not the right fit.

No harm, no foul. I just don’t give them any more business. I’ve had a couple of contractors who have become employees.

They’ve started as contractor, went to part time employee and then full time employee. So that was terrific because it kind of gave me an opportunity to see what their strengths were, how they fit in with my organization, my culture, and then for them as well as my firm, fit in with their lifestyle, their work life balance.

So I think that was one of the hardest things, was really kind of going from large to just one person and trying to figure out how to do it all.

And I pivoted towards the contractor model. Now, obviously, I have full time employees as well as part time, and still.

 

@10:00 – Yoon Cannon (paramountbusinesscoach.com)

Contractors. So that’s how you built when you first started your agency? From zero to six figures is gathering a team of contractors?

 

@10:12 – Vince

Yeah, pretty much. Great. Great.

 

@10:17 – Yoon Cannon (paramountbusinesscoach.com)

So then you did that. Was there a mindset shift? That had to happen? Where was your strongest?

 

@10:27 – Vince

Almost, I guess, difficult mindset shift in that journey. Yeah, again, great question. So, again, when I started, I didn’t want to turn away any business, so we would service clients across a variety of industries.

The only industry, really, we didn’t touch was pharma and life sciences, because that’s such a niche. We were doing everything from consumer marketing to professional services and B to b to nonprofit to higher education to manufacture ring.

Sort of all across the board and that was great. And the great thing about agencies is you can work on a variety of clients.

One of the shifts I had to make was to shed some of those clients and some of those sectors that really wasn’t our sweet spot, and to focus on an area that I felt had a great opportunity for growth and we had pretty good success.

And that’s when we kind of launched our franchise practice. We’d kind of done some things in the franchise space.

We’d worked with one or two franchise brands. I had kind of looked around and started talking to a number of franchise brands and felt like there was really a good need for a strong public relations firm both at the franchise or in franchisee level.

So that was kind of scary because we shed a lot of our clients and industries and said we’re going to really focus on our franchise practice and then also kind of our retail and consumer practice.

So now we have two primary practice groups. What tends to happen, what tends to surface is other organizations will come to us with project work, which is great.

We can handle that, whether it’s in higher ed or manufacturing. But as far as a business development and how we’re going to grow to where we want to be, we really focus on those two practice groups.

So when you said a minute ago that you shed some of your other industries, does that mean you fired your clients or you let them know you’re not going to be able to work with them anymore?

Well, we didn’t fire them per se, but we didn’t actively try to pursue growing in that space. And the majority of those were project based to begin with.

So when the project ended, it was just sort of a natural segue. And if they came back to me, then I would say, you know what?

We’re probably not the right fit for this next project, but let me give you somebody who would be a good fit for you.

And I did that with a few of the clients to say, here’s, They’ll be a good fit for you.

It all ended on very good note. Nice. Okay. Got you. And then you really just focused on the three different niches you’re holding it on now.

Nice.

 

@13:14 – Yoon Cannon (paramountbusinesscoach.com)

That was a big mindset shift, and I think a lot of business owners definitely struggle with the same thing, especially in the earlier or at least if they’re trying to ramp up or revamp for some people who have really been hit hard since the pandemic and just trying to take any kind of work.

So in the midst, I know you shared, and I just want to kind of drill down a little bit more into the details to kind of monitor yourself or how did you push yourself to resist on taking clients that just didn’t fit the niche that you’re focused on?

 

@13:58 – Vince

What was it that helped you say no? Yeah. I mean, it’s not easy because, again, you don’t want to turn away business.

But in the same regard, if I didn’t feel like we were the right firm for a client that was coming to us, I would be honest and say that I wasn’t trying to pretend we were something that we weren’t or try to do something that really maybe we were not the best fit.

I would always try to point them in the right direction, say, hey, I know this firm over here would be a good fit, or this contractor over here would be a good fit and be able to handle you.

It’s difficult, but I think that I knew in the big picture, in the long run, if we focused on our primary practice groups, we would be more effective and we would grow the way I wanted to grow in the long run.

 

@14:54 – Yoon Cannon (paramountbusinesscoach.com)

So what would you say to somebody who is in a similar situation? But what’s happening for them is they want a niche.

They don’t have enough clients in that niche, and then they’re attracting clients they don’t want from them an area in industry they don’t really want to get a lot work from.

 

@15:16 – Vince

And yet money is screaming. It seems like it’s money talking, as in, hey, if I say no to this project, we’re not going to have any cash flow coming in the door.

And yet they’re not the right type of work that we want to do. What would you say to the person who’s struggling in that cycle?

Yeah, again, great question. Obviously, the first goal of any business is to stay afloat, is to stay cash flow positive.

So you have to get to a point where you’re comfortable enough to be able to say, you’re probably not the right fit for us.

If they’re early stage and they’re. Trying to get to a cash flow positive position, then, yeah, they probably want to work on some of that.

The other thing is if they don’t necessarily know what that niche might be again, we did a lot of sectors early on.

Kind of gave us an opportunity to see where our strengths would lie and what we would have most interest in and where we would be the best fit for clients.

So it’s a tough decision. It’s a tough call to make. At a certain point, it probably took us three or four years to get to that, to where we said, you know what, this is really what we’re going to focus on.

Didn’t happen in the first 90 days to six months.

 

@16:42 – Yoon Cannon (paramountbusinesscoach.com)

I’m glad you shared that, that it took you three to four years. If you had to look back and if there were anything there were any strategies that you can think of, if you had to redo it, would there be anything that would have helped you shortcut that ring?

 

@17:00 – Vince

That down? Well, I think business development is always going to be on the minds of a small business owner because our job is not only business development and to manage the clients and my employees, and it’s hard to kind of do all of that.

And I experimented with a couple of things. At one point, I totally outsourced our business development, and I basically hired an individual who served as our director of business development.

And it was about a six month process and it was a good learning exercise. One of the things was he was able to generate leads, but they weren’t really the right leads.

They weren’t the best fit for us. There’s a certain size of client brand that. We tend to tend to work best with.

And he was able to make some introductions and get some meetings, but they weren’t the right ones. So, you know, I’ve gone back and forth with how to best handle business development.

At the end of the day, a lot of it still falls on me and my senior team. For us, we know our firm better than anybody, so that if we are talking to somebody or meeting somebody at a conference or at a networking event, that’s still going to be our best way to generate leads because still about networking and relationships and kind of getting out there and, you know, it was about a six to nine month process.

It’s something I still I’m still trying to learn from other entrepreneurs. How do you do business depth? I ask people that all the time when I sit down with them.

How do you do your best development? And there’s lots of different ways and you just sort of see what works and see what sticks and see what doesn’t.

 

@18:59 – Yoon Cannon (paramountbusinesscoach.com)

So. So if our viewers can learn from some of those mistakes or even just not necessarily mistakes, but just what didn’t work.

 

@19:10 – Vince

Right. So you had a business development person that you hired, and then was that person contractor or an employee?

Contractor. Contractor. So were they dedicated to business development to you full time, or was that a part time gig for them?

No, I think this individual worked for a company that did that, and specifically within the marketing, advertising, and PR industry.

Okay. But I think each person probably has two or three agencies that are working for and they weren’t based in the Philadelphia region.

They were based in the Midwest, because we work a lot of national brands. So it wasn’t like they were trying to get meetings just here in the Philadelphia market.

But no, I mean, they were 15, 20 hours a month or so, probably dedicated to the business. And are you still working with that contractor?

I’m not. So if you were to learn from what didn’t work, when you said they didn’t bring you the right lead, what do you think was their approach?

Were processed. What didn’t work about the end result was that they didn’t bring you the right lead. Can you share a little bit more about that?

Yeah. So I’ll just give you an example. In the franchise category, there are a lot of emerging brands. An emerging franchise brand may have one or two or three locations.

And a brand that’s further along in its life cycle will have 50, 75, 100 plus franchisees or locations. We typically work with brands that are franchise brands that have 50 plus.

Some of our clients have over 150 franchise. Or territories or locations if it’s a retail brand, you know, he was making more traction introductions with brands at the emerging that had one, two, three, or four.

And again, there’s nothing wrong with those, but they weren’t really the best fit for us. I’m sure there are firms or maybe contractors that would do a great job with an emerging brand, but that’s a harder brand for us with our team to service.

Right. Got you. We told them that in the beginning. We said, this is our criteria, our specs that we’re looking for.

But it was probably easier for him to get the meetings with the emerging brands, so that’s kind of where he gravitated.

Got you. Okay. So definitely did work for what you were looking for as far as they were too small.

And you did give them the criteria. They just didn’t follow through because yeah.

 

@22:00 – Yoon Cannon (paramountbusinesscoach.com)

Okay, so if you give us one or two of the tactics of what’s really working the best I know we’re going to a little rabbit hole, because our topic is really about challenging the challenges of hiring.

But just out of curiosity, can you give our viewers a little bit more on what has been working better for business?

 

@22:22 – Vince

Yeah, I mean, if you do good work, people tell their colleagues, they tell other people they work with. So, again, in the franchise category, I’ll just give you that as an example.

Again, if we’re working with a franchisee that might own eight or ten locations of a particular franchise brand and we do a good job, they sent an email to ten of their colleagues, and all of a sudden, we’re doing work for 40 or 50 locations around the country.

So it’s easy for me to say we’re a strong firm, and we’ve gotten break. Capabilities, and we would do a good job for you.

But it is so much stronger when somebody does that on our behalf and they do it without us even knowing it, quite honestly.

They’ll reach out to their colleagues and then they’ll circle back and say, hey, Vince, or Karen, who runs my franchise practice, FYI, sent this email out.

You might be getting some of my colleagues reaching out to you. So again, if we just focus on doing a really good job, and then obviously we try to stay visible on social media.

We’ve got some junior staff, and they’re always posting, because that’s important. Just to have a presence, people need to know what you’re up to.

And then every now and then there are certain awards that come up that, if it makes sense, we’ll apply for.

Those things. Just sort of go towards the credibility factor of an agency. When some clients are looking at agencies, yes, absolutely.

You’re right. If they’re looking at a PR agency. Actually want to see what’s the PR that the PR agency has for themselves.

To what you said, surprisingly, I think that is a foundational principle that a lot of people can easily forget.

The best marketing is that you do brilliant work and you don’t let up on these little sloppy kind of negative experiences.

 

@24:28 – Yoon Cannon (paramountbusinesscoach.com)

And I know just as an example, somebody was trying to solicit me, and I wasn’t going to accept the phone call invitation, but because they offered, oh, by the way, just for booking this coffee together or whatever, virtual coffee, we’re going to send you a DoorDash lunch on us.

And I just thought that was clever. And I thought, oh, all right, you know what? That was such a great idea.

I’m just going to give you the meeting because it’s.

 

@25:00 – Vince

That was really clever. Yeah.

 

@25:02 – Yoon Cannon (paramountbusinesscoach.com)

They never follow through, you know, and it’s not like I care about a ten dollar door dash lunch, but it sticks with you.

Well, my first experience, you said this and follow through.

 

@25:16 – Vince

It turns out there was two other things that they said they would do and they didn’t do. So it was just even little things like, oh, I’m going to set up a meeting with you.

And then they swapped and I had a meeting with one of their colleagues, a junior associate, and I thought, no, I took the meeting because it was you, not because it was a junior associate.

Yeah, but that’s just giving some specifics to really the same thing about paying attention to your work.

 

@25:50 – Yoon Cannon (paramountbusinesscoach.com)

And I even sent them a little email to say, hey, by the way, I thought it was really clever, that DoorDash idea, and I thought maybe it would spark.

So. Hello.

 

@26:02 – Vince

But that awareness of quality. Are you doing what you say? Do you deliver on what you say? And then the over deliver, of course, is what we all hope we can do.

So that’s very powerful shared marketing, doing great work.

 

@26:20 – Yoon Cannon (paramountbusinesscoach.com)

So going back to you’re growing your agency, you started out years ago, you started out with contractors, and you folded in some employees.

What in your journey of hiring your team, both employees and contractors, what do you think as you look back with some bigger hiring mistakes that other people can now learn from?

 

@26:48 – Vince

Yeah, good question. So I think one of the things is be careful of references. You meet a candidate, and most of the candidates who come to me,

Me, quite honestly, are within my network or my broader network, people refer them to me. Hey, Vince, my cousin is in the public relations field and moving from Philadelphia to Philadelphia from Washington.

Could you meet with them? Great. Perfect. Sort of that warm introduction. I love those kinds of introductions, but obviously sometimes we have to just post because we’re looking to hire and we just get resumes in, and we always say, could you share with us two or three references?

The references are always going to be glowing or why would they not give them as a reference? And I’ve just been pretty surprised.

Sometimes the person sharing the reference talks about this individual, and then you get them in and you think, that’s not quite right.

So just be careful of references. Understand that people who are giving them realize that they’re it’s. Trying to build up the candidates, whether it was a professor at a university or if they had an internship somewhere or something like that.

Obviously they want to build up that individual, but you kind of have to take it with a grain and salt, I think, sometimes.

Yeah, that’s important.

 

@28:20 – Yoon Cannon (paramountbusinesscoach.com)

And you actually checked on the references? I work with a lot of entrepreneurs who I later find out they never even call the references because you’re in such a hurry to hire and you want to get that position filled because you’re overwhelmed and you’ve got way too much on your plate.

 

@28:37 – Vince

So that’s great that you even called the references, but to what you said yes, to be careful and mindful that they may not always match up.

Do you do any hiring assessments when you’re hiring, just to kind of see what their personalities are? I’m curious what your experience with assessments have been.

Give me an example. What do you mean by assessment? Like a disc? I’ll. Personality assessment. There’s the Colby test.

Just curious if you ever tried. No. I mean, it was harder during the pandemic when you could only meet them via Zoom.

I made a couple of hires to run the pandemic again. I have a much better feel when I can sit down with somebody in person and see how they just talk and answer questions.

You get a pretty good feel for how will they be in sort of day to day as a colleague in front of clients, working with my other employees, my other staff, I think you can get a pretty good feel for that.

Yeah, I can relate to that goal face to face. That makes a big difference.

 

@29:50 – Yoon Cannon (paramountbusinesscoach.com)

So we’re talking about some hiring mistakes. If you had to think of just overall, just any kind of what he’s saying?

Was a decision that you made in the past that turned out to be an expensive mistake.

 

@30:08 – Vince

And how did you recover from it? Is there anything, any other mistake? Address and talk about how you recovered from a hiring standpoint, from any business standpoint, any other one of the things we always talk about is it’s always better to learn from the mistakes of others.

And this is our opportunity to share with our audience how they can avoid some costly mistakes. Yeah, I think, again, just the lesson of trying not to be everything to everybody.

Again, in my world, in the agency world, there are PR firms, there are ad agencies, there are digital firms, there are social media firms, there are the full service.

Agencies that are trying to do everything to everybody. And I always felt like if you could stay in your lane with your primary area of expertise, you would be able to do that really well, as opposed to an agency that does that says they do everything, but they do everything kind of average or kind of mediocre.

And it’s a hard thing to do because, again, when you’re starting out, you don’t want to turn away business, you don’t want to turn away revenue, you don’t want to turn away clients.

But I think you need to be true to yourself and say, well, this is really what I’m really good at, or this is what’s really going to differentiate me from my competitors.

So I’m going to stick to this and again, to what we talked about earlier. It’s a fine line. You need to sort of get the business up and going, and then maybe you can figure out from there what’s the best path forward.

And it’s been. Process. There’s no formula that someone says, on day one, I’m going to do this for two years, and then from years two to five, I’m going to do this, and then five to ten, you have an idea, but you really need to be openminded and just sort of flexible and look for opportunities as you’re growing again.

Our whole franchise practice started because one of our clients came to us about four years ago and said, we’re going to franchise.

Can you help us announce it? And we said, sure, we help them announce it. They went on and sold 30 franchisees in the next 24 months.

We started doing work in each of those 30 markets, and then that’s when I start to research and get more educated about the franchise world.

And that’s kind of launched our practice, but it was never on a business plan. I never had written down launch franchise practice.

It just kind of evolved. Involved. I kept my eyes and ears open, started talking to some of the people who were smart in that space, attended some conferences so I could learn more about the industry, talk to franchise.

Franchisees. Tried to figure out what the RF opportunity was, and then that’s kind of when we went off and launched it.

 

@33:20 – Yoon Cannon (paramountbusinesscoach.com)

I love that. And then you shared earlier about being a specialist and staying in your lane and that some other agencies that are offering kind of an all in one messaging.

Can you give our viewers example, a few examples on especially for people who aren’t as familiar with the whole scope of PR?

 

@33:42 – Vince

Maybe they’re thinking, oh, it’s a new PR. It’s a news release. So talk to us a little bit about where you really shine and maybe some differentiation as far as what if some of your clients shared with you, maybe if they’ve used an all in one agency and what we’ve he’s.

What’s the difference in a PR from a previous all in one agency versus the PR that you do? Yeah, I think what it comes down to is that my team members are experts in what they do.

So my copywriters are fulltime copywriters. They’re not doing 10, 12, 14 different things. It might be as simple as writing a press release, but it has to be a really good, persuasive, interesting newsworthy press release.

And you need somebody who is a copywriter who knows how to do that. We’re writing remarks and speed beaches for CEOs of companies.

So you have to really have somebody who again, that’s their area of expertise. My media relations team, the team they’re the ones who are talking to reporters.

And editors and producers and bookers. That’s their expertise. That’s their world. That’s what they like to do, and that’s primarily what they do.

My team is involved more with our social social media influencers, bloggers, content. Again, that’s their world. So I think, again, what happens is, in a lot of agencies, they have people who are doing a lot of different things, but they’re not really experts at any one thing.

And when I started this firm, I said, we’re going to stay in our lane with PR and content. And content.

Content is all about storytelling. Every brand has a story. Is it interesting? Maybe not. But part of our job is to figure out how to make it interesting, how to make it resonate, how to make it relevant to ultimately who you’re trying to sell to.

And that’s not an easy thing today. Too. So again. When I started with the contractors. It was a good model because I was starting with copywriters or a designer or a media relations person.

A light went off and I thought it’s a good model because I’m getting clients who are saying to me what I really like about you guys is that your event team that does event planning and management.

They’re senior people who’ve done it. They’re not learning on the job. You’re a copywriter who’s writing this speech for our CEO loved it.

CEO loved it. So again, it all goes back to if you do quality work, your clients will to be happy and then they’ll refer because they talk to other colleagues all the time.

 

@36:53 – Yoon Cannon (paramountbusinesscoach.com)

Yeah. So what I’m hearing then is from that, especially on our topic.

 

@37:00 – Vince

Of the challenge of hiring and growing your team. What I’m hearing is that you have made a concerted commitment to higher talent and that does make a huge difference.

Whereas I have have seen it happen in many different agencies where they’re trying to focus on profit margins and hiring the cheapest labor possible.

And you can see it, you can see the quality of the work where copywriting isn’t actually as easy as it might seem.

You read a piece, it just reads like me. Sometimes I read pieces, it sounds like a bot wrote it.

 

@37:43 – Yoon Cannon (paramountbusinesscoach.com)

It doesn’t quite have any substance. It just says a lot of verbiage but didn’t really say anything insightful. So that’s what I’m hearing is that you have committed to hiring higher level talent and that has really helped you.

Get those unsolicited word of mouth referrals and landing even more franchise clients just from doing great work.

 

@38:10 – Vince

So, yeah, I love that you weren’t afraid to do that, because I just so from my view, I do see it happening a lot in businesses who are trying to just have a fatter cash flow.

Right? Yeah. So it’s easy to kind of cut corners and skip on putting a junior person or just somebody who’s maybe not even that advanced in the craft.

So somebody can say that they’re a full time copywriter or a full time this or that, but then when you look at their work, they just aren’t that strong skill set.

Right. Yeah. That was very valuable. Good.

 

@38:55 – Yoon Cannon (paramountbusinesscoach.com)

Well, if you have any other words of advice to our audience, Agency owners or business owners who are maybe at that.

I’ve got three employees or five employees, and they’re trying to scale their company to the next level in hiring their dream team.

 

@39:15 – Vince

If you have any final words of advice, what would that be? Yeah. And again, this kind of goes into what you do with your firm, individuals who are sort of in your space, in your categories to understand.

For me, people understand agency and how agencies work and how agencies are structured, and see if you can touch base with them two, three, four times a year and just pick their brain.

There’s an individual that I work with, I don’t work with, but I reach out to them a couple of times a year.

He and I worked together in Washington, DC. For a number of years. 25 years ago. He built an agency, sold it, basically is retired, but I reach out to him a couple of times a year and just touch base.

And that kind of third party feedback is helpful because we get so busy being in the weeds, looking at the day to day, that we need that person to come in and help us take a step back and look at the big picture.

And that’s a hard thing to do because we’re always just looking at kind of day to day. Yes, absolutely.

Oftentimes your employees aren’t going to have the assertiveness to maybe cross that line and say, hey, by the way, and it’s just not their place.

Right. So no one else is holding you accountable or just giving you that observation that nobody else has really articulated.

So great.

 

@40:54 – Yoon Cannon (paramountbusinesscoach.com)

I love that. Love that advice. And then for people who want to learn more about your PR, he.

 

@41:00 – Vince

And want to connect with you to see how you can help them. What’s the best way for them to reach out to you?

Sure. Well, the website is powers. ECB like boy C like Cat. And that stands for Powers Brand Communications .com. So Powersbc.com.

And then my email is Vpowers. Vpowers@powersbc.com. That would be the easiest way to get in touch with me, and I promise I’ll get back as quickly as I can.

 

@41:30 – Yoon Cannon (paramountbusinesscoach.com)

Awesome. Well, I appreciate you being candid and sharing about your personal journey and growing your agency, and I’m excited to see more franchise or being helped by your PR agencies.

 

@41:44 – Vince

Well, great. I appreciate the opportunity. I hope this was helpful and beneficial to some of the entrepreneurs out there.

 

Growing Your Advisory Firm (Business Owner Roundtable]

The Biz Growth Doctors show is for heart-centered entrepreneurs who are on a mission to make an impact through their businesses.



Our episodes tackle the three biggest challenges of running a business:


▶ Attracting Your Dream Clients – [Marketing]
▶ Building Your Dream Team –  [Hiring/Training/Leadership
▶ Creating Your Dream Business – [Strategic Planning]

Content is geared for service-based business owners from startup entrepreneurs to 1M-10M founders


Growing Your Advisory Firm [Business Owner Roundtable Discussion]

QUESTION: 😮WHAT WAS THE MOST EXPENSIVE LESSON YOU LEARNED IN YOUR BUSINESS?

 

It’s far cheaper to learn from the mistakes of other entrepreneurs than to make those mistakes yourself. Do you agree? …

Then you gotta watch this awesome roundtable discussion I facilitated with three owners of successful advisory firms

I loved the raw conversation. 💚 💙

I got them to “spill the beans” on some of the most expensive mistakes they made in their entrepreneurial journey. They were so gracious to share the good and the bad, so we can help more people avoid common costly mistakes in their own entrepreneurial journey.

 

Take the time to delve into this robust discussion with:

1- Brian Carney, CFP®, AIF®, ChFC®, CDFA® Co-Founder of RiverEdge (Financial) Advisors
2- Scott Hensley, Founder of IPIVX Growth Solutions ~ Outsourced CRO / VP of Sales
3- Matthew Burr, Owner of Burr (HR) Consulting

 

We talk about:

⭐️What was the hardest part of growing your advisory business?
⭐️What were the biggest hiring mistakes you had to learn the hard way?
⭐️How are you landing your biggest clients this year? What’s working now?

Love to get your thoughts too…

 

QUESTION: WHAT WAS THE MOST EXPENSIVE LESSON YOU LEARNED IN YOUR BUSINESS?

 

Please share your comments and join the discussion

#mindset #entrepreneurship #GrowYourAdvisoryBusiness #roundtablesforEntrepreneurs #PeerAdvisoryGroups #MastermindGroups

 

⭐️ ARE YOU A BUSINESS OWNER? … INTERESTED IN JOINING A PEER ADVISORY MASTERMIND GROUP?

⭐️Learn More Here: https://www.ParamountBusinessCoach.com/MMG

 

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Managing Shiny Objects Anxiety +7-Figure Growth Challenges [Entrepreneur Roundtable]

Do you struggle with anxiety or  SHINY OBJECT SYNDROME?

Growing a business is not easy… it might look that way when you see others winning the Inc 5000 Awards, the Ernst and Young awards like Agency owner, Rich Kahn.

But he spilled the beans on how much he struggled in his business as an extreme introvert.

It takes a lot of strength to admit your weaknesses…. But I believe, that when I am weak, then I am strong. 

I am in awe of these three seasoned entrepreneurs: Rich Kahn, Steve Cunningham, and Samantha Bennett. 

Not just because of the impressive milestones they’ve achieved … like building 7-figure businesses, winning multiple prestigious awards, achieving celebrity status, and more…

I admire their humility and raw transparency as we discuss the real struggles they had had to overcome and continue to manage.

Can you relate to any of these challenges as an entrepreneur?


1- Shiny object syndrome

2- Anxiety

3- Depression

 

Check out our Entrepreneur round table. I invite you to share your comments and join the discussion 

PS: Do you have a specific challenge you’d like to receive peer feedback on at our next entrepreneur round table discussion?

Reply to this blog and let me know what your question(s) is with a little context around the challenge you’re facing in your business.

Advice on How Small Businesses Can Recruit Top Talent

In today’s world, many small businesses are struggling to compete against large companies because most people would love to work for those organizations. The most typical scenario is that small businesses get what’s left from the applicants of big companies.

Your employees will help you make your business bigger. So it’s always best to look for top candidates as they’ll contribute to your organization more.

Hiring top talentsbusiness in a company is one of the keys to its success. If you’re running a small business, one of the challenges your company faces is recruiting excellent employees.

This article will give tips on how small businesses can hire top talents and improve their company’s performance in the industry.

5 Recruitment Strategies For Small Businesses

It may sound easy to create your hiring system, but it is challenging, especially for small businesses. There are plenty of ways you can secure the best candidates.

Offer Flexible Schedules

Small businesses can attract excellent talents by offering flexitime. Most people are looking for a flexible job, especially regarding schedules. Employees use the time to search for other ways to earn money, such as freelancing, while others use it for personal growth.

Most employers think employees might not do their tasks if they don’t keep an eye on them. On the contrary, giving them flexible time allows them to increase productivity in your organization.

For instance, they have to finish 40 hours a week. Instead of making them complete it in five days, they can finish the 40 hours in four days with a 10-hour shift. They would have more free time for themselves to be used for personal growth or family.

Another example is they did 12 hours today; they can come in late the next day. Not only will it give your team more rest, but they can also make critical decisions for the company’s betterment.

Offer Competitive Compensation

Let’s be practical. We all need money to live and enjoy our lives, so job seekers consider salary before applying for the opening. If they have the skills but think they wouldn’t get the salary they deserve, they’d most likely turn away and look for another company.

Their skills are investments. They have spent countless hours studying to earn from them.

However, when it comes to compensation, salary isn’t the only thing involved. You can also add insurance, incentives, bonuses, and other perks that employees can get. Doing this will also improve your employee retention rating.

If your business is in sales, you can offer incentives if they reach their weekly or monthly target. This will make them try to sell more, increasing your sales.

Providing competitive compensation can also increase productivity in your organization. The employees will become more motivated to do their job, improving your business situation.

State Clear & Appealing Job Descriptions

Job seekers dislike unclear job descriptions. Before they consider the position available in your organization, they will read the description. If they find it very confusing, they’re more likely to give up on the job before applying.

Nobody wants to read texts that are full of jargon. So, it’s best to create straightforward job descriptions. You should include all the essential details, especially about the compensation, qualifications, and responsibilities.

Serious applicants and job seekers always want to be clear on what they are getting into. They don’t want to waste their time going through a hiring process that doesn’t give them clarity about the job description and requirements.

Job descriptions are your first move to attract top talents, so make sure that you write concise and appealing words to reach your target people.

Create a Referral Program

Small companies have more limited funds than larger ones. They would try to save costs as much as possible, including the recruitment process. You can lessen the cost of your recruitment by using referrals.

Referral programs are affordable. You don’t need to allocate a large budget to run the program because your employees will do it for you.

It’s one of the best ways to find new talents for your company and, at the same time, promote a stronger employer brand as your current employees would recommend your company as one of the best places to work.

Your current employees will help you look for the talent you need. For it to become more effective, you can offer the referrers monetary incentives for every successful referral. Giving them gift coupons or shopping vouchers will encourage them to invite the people they know to apply for the job.

Remember to keep the referral program simple and keep the referrers updated even if their referral didn’t qualify. This will boost the employer-employee relationship.

Share Equity or Ownership

Sharing equity/stocks or ownership is not a very common approach when looking for talents. However, it is very effective and can keep the key people in the company.

Candidates are not just looking for jobs; they want to ensure their future and create opportunities for themselves.

Offering them a certain amount of your company’s equity can motivate them. The percentage isn’t necessarily large. A small amount is a good start, but when the company becomes bigger, its share value also increases.

You’re also teaching them how stocks work and probably become great entrepreneurs in the future.

Build a Strong Employer Brand

Think about large companies, such as Google and Amazon. They have built their brands that many people could easily recognize as one of the biggest companies in the world.

To build your company brand, you will create a strong connection with your clients or customers as a company. Creating beautifully designed logos, attractive websites, and effective marketing strategies are some ways to establish your brand.

Creating a strong employer brand is similar to your company brand. As an employer, building relationships with current employees is beneficial in successfully recruiting the best people.

Talents want a stable job where they can work for a long time and see improvement. Aside from offering competitive compensation, invest in upskilling and professional development. You can provide them with free training and seminars. This will help you acquire high performing teams to help your business improve and become bigger.

Serious job seekers will surely love to work for your organization because they can also improve themselves and become better at what they do.

Start Succession Planning

Employees usually ask themselves what they would get if they stayed longer in a small company.

Larger companies offer various opportunities to their current employees. A small business might not be able to compete with all of those, but when you offer promotions, such as leadership, to your current employees, they would feel valuable.

Recruiting external candidates isn’t the only option for small businesses. You have your current employees to become the next key person you need. You don’t need to look elsewhere to find the right person because your employees are your excellent people source.

Always use data to back up your succession planning. It’s important to know who the right candidate is among your workforce. Using a metric performance system is the best way to identify the person.

You can check which person has been doing well and deserves a promotion.

Use Combinations of Recruiting Techniques

Small businesses shouldn’t just focus on their recruitment process; they should also consider the ways to secure top talents for their companies. Posting a job and waiting for a candidate isn’t a strategy to help your business grow.

Follow the tips above to attract more top talents. You’ll have more candidates to choose from and will be able to hire the best ones to improve your company.

How SMB Owners Are Attracting Top Sales Talent in 2022

SECRETS TO ATTRACTING TOP SALES TALENT FOR SMB OWNERS

There is a growing crisis in sales talent. According to Forbes, companies are “struggling to keep the sales reps they have, and having an even harder time finding and developing sales reps to replace them.”

Recruiting and retaining top sales talent has always been challenging. But, if you are trying to grow a small or mid-size company, it’s an added struggle to compete with the bigger salaries Enterprise companies can offer.

To help you attract top sales talent and navigate this era of the Great Resignation, I’ve rounded up six SMB owners to share their advice how they overcame specific constraints to recruiting sales talent.

SALES HIRING CHALLENGE #1. Hiring Salespeople Who Can Produce Quickly

How ClickGuard Overcame This Challenge:

Hiring is tough and in 2022 hiring the right sale people who can produce and ad value quickly is even tougher.

“I’m a strong advocate of hiring and building teams
based on the right culture for your organization”
~ Ralph PerrierClick To Tweet

Sales is a competitive sport, and like any good general manager, you should recruit and evaluate candidates based on their track record.

Hire candidates that are already active within your industry with a strong social network of relevant contact which you can benefit from.

Ralph Perrier, CEO of ClickGuard
Protect Your Google Ads from Bot Clicks,
Click Farms and Competitors and Prevent Waste.

SALES HIRING CHALLENGE #2. Limited Budget and Limited Local Talent Pool

How Function Fox Overcame That Challenge:

When we hired our first sales team – we are looking for people physically in our geography, so it was a limited market and we didn’t have big budgets.

[bctt tweet=”Rather than looking for highly experienced talent, we looked for aptitude and attitude which opened up our market considerably. By Corina Ludwig“]

We hired a former chef who had never really worked in an office before. He became one of our top performers and stayed with us close to 10 years and even got a FunctionFox Tattoo!

We always try to “Stay Creative” with any challenge that comes our way.

Corina Ludwig, President/ Partner – FunctionFox.com
Timesheet and Project Management Software

SALES HIRING CHALLENGE #3. Finding Salespeople Who Were Willing to Hold Themselves Accountable

How Green Rope Overcame That Challenge:

The biggest challenge we faced was finding salespeople who were willing to hold themselves accountable (fortunately, we have a great team now).

[bctt tweet=” Salespeople generally are either hunters or farmers, and each has a different personality for the role, says Lars Helgeson“]

We have focused our energy primarily on inbound marketing, which is conducive to having a team of farmers.

Farmers are generally better with accountability and providing the data needed for closing the loop on the customer journey. Hunters tend to be more outgoing, extroverted, and harder to keep track of. We have found this role has been the hardest to fill and keep and are still in search of a good one.

Lars Helgeson Founder / CEO, GreenRope
All-In-One CRM with Marketing Automation

SALES HIRING CHALLENGE #4. Managing Budget & Expectations of the Sales Team.


How WeStrive Overcame This Challenge:

As a first-time tech founder, the biggest challenge has been managing the budget and expectations of the sales team.

To overcome this, I’ve taken the time to meet with people who have been in my shoes before.

[bctt tweet=”I’ve taken time to meet with both tech founders and sales leads to better understand sales salaries, commission types, and more, says Cory McKane“]

Cory McKane, CEO at Westrive.com
The All-In-One App for Personal Trainers

SALES HIRING CHALLENGE #5. Making the Pivot to Enterprise Sales Teams

How Read Cube Overcame That Challenge:

ReadCube is part of Digital Science, which is part of the broader Holtzbrinck Publishing conglomerate. People who work in the Science Technical and Medical (STM) sectors know that Digital Science is a hot commodity.

So, I leveraged three core ways to be able to attract top sales talent.

  • I engaged my network looking for potential sales candidates who already had a rolodex.
  • The sellers I recruited worked for me in a past professional life, so we had/have mutual respect for each other.
  • I also worked with a headhunter.

From those tactics I was able to source 15-20 top qualified candidates to interview.

Miles McNamee

Senior Vice President – Enterprise Sales, ReadCube

SALES HIRING CHALLENGE #6. Not Getting Enough Candidates

How DSP Helps Companies Overcome This Challenge: 

In our 15 years in business we have been through many challenging times such as a recession and Covid 19.  2022 has been just as challenging, the challenge this time is finding quality talent.

Only 4-5 years ago if we contacted 20 potential candidates we would get 10 quality resumes. Today, if we contact 50 we are lucky if we get 1 strong candidate.  What we have done to combat this situation is think out of the box and consult with our clients to do the same.

[bctt tweet=”One example of this to change the limiting belief that a candidate must be from your industry.There are many industries that cross over. By Jim McKenna“]

Although the clientele might be different the core processes and sales cycles are the same.”

Jim McKenna, President at Definitive Search Partners
We Partner with You to Bring You the Highest Quality Candidates!

SALES HIRING CHALLENGE # 7. Candidates Who Change Their Minds

LinkedIn recently published the top challenges facing recruiters. A staggering 75% of recruiters report they’ve dealt with candidates who went through the entire interview process, only to then change their minds last minute. (Ugh!) Unfortunately, this is growing problem that’s been happening at an increasing rate in the post pandemic world we are living in today.

top sales

How Yoon Cannon Helps SMB Owners Overcome This Challenge:

While it is unrealistic to completely eliminate this problem you can expect to greatly reduce candidates changing their minds by focusing on the big rocks I call the 3 R’s:

  • Remote Options: The latest studies are finding that 56% of candidates turn down jobs because of lack of flexibility to work remote. They want flexibility more than they want pay and security. Where we have been able to help SMB owners is by designing systems to help you effectively manage a remote or partially remote team while boosting their sales performance.
  • Retention through Relationships: Working remote certainly gives your sales team greater work-life balance, but it can also lead to your sales team feeling too isolated and disconnected. Pandemic or not, never forget human nature has proven throughout history that people will often stay with a company longer, not necessarily, because they love the actual work they do, but because they love the people they get to work with.
    • Introduce candidates throughout their interview process to multiple managers and peers in your organization.
    • Show the vibe of your people and the camaraderie they enjoy through your company videos.
    • Create and showcase several videos of you, the founder as well as your leadership team. Don’t make it “corporate”. Be your genuine selves. Candidates will want to work for you if you give them ways to feel like they got to know, like and trust you.
  • Recruiting Funnel: There is no one reason why a candidate changes their mind last minute. There are multiple reasons.

[bctt tweet=”Setting up a recruiting funnel for all your key positions(not just sales hires) takes candidates through a process that demonstrates to you while at the same time helps Then decide that there is a strong fit in all these 7 decision areas. By Yoon Cannon”]

  • Skills fit
  • Personality fit
  • Financial fit
  • Timing fit
  • Lifestyle fit
  • Future fit and
  • People fit / Culture fit

So, by the time you are reviewing your top candidates you can be confident each of those candidates have determined for themselves the role they are applying for is truly the right fit for them.

Yoon Cannon, Business Growth Coach,
Founder, ParamountBusinessCoach.com
Helping entrepreneurs scale your business growth!

SALES HIRING CHALLENGE #8. Generating Enough Sales as a Startup to Hire Sales Talent Without Any VC Funding

How Peeva Overcame This Challenge:

FIrst off, to make sense of this here is an analogy. Startups are like rock bands. Whereas, rock bands will send out demo tapes to whatever label will throw money at them. StartUps send out pitch decks to whatever VC will invest in them.

Either way, most of them never make it out of the garage. To get a record deal in your favor, getting out of the garage and touring is the best way to do this.

Investors want to see traction and there is no better way to show this than to have paying customers. It doesn’t matter who you know. People with money have it for a reason, they don’t spend it foolishly. Ironically, the far majority of VC funded companies also fail.

My best advice to any Entrepreneur is to get as many paying customers as possible and as quickly as possible. This also comes at great cost if you are irresponsible.

Peeva’s approach is a top to bottom approach.

Rather than hire a ground swell of boots on the ground (outside sales professionals) to make cold calls and hand off marketing literature and then pay them to chase and bother busy prospects, it was much more productive for us to establish a beta relationship with a large corporate chain of vet hospitals.

From the C-level down, we were then able to scale at a much quicker rate with veterinary professionals and hospitals without ever meeting them let alone speaking with them. Our veterinary professionals essentially do sales for us, by selling Peeva to pet owners.

[bctt tweet=”I would also recommend getting a channel partner for the mutually beneficial relationships; such as credibility and marketing exposure via email introductions and follow ups, says Michael Hamilton”]

I did all of this myself, before requiring any sales professionals. It was not until after I established these types of accounts before brining on a veterinary relations director that overseas 3 other sales professionals that follow the traditional meet face to face sales model. No VC needed, and the only VC’s I ever speak with at this point are those that reach out to us.

I hope this helps many entrepreneurs that will go broke or focus on an exit strategy before getting started.

Michael Hamilton, CEO / Founder of Peeva

Universal pet identification and central database

SALES HIRING CHALLENGE #9. Sales People Who Are Transactional

How Qnum Analytics Overcame This Challenge:

The biggest challenge in hiring my first sales team was the transition from their past selling “norms” into trusted advisors that would solve the customers problems as opposed to selling our products and solutions.

I hired sales talent who had the desire and hunger and weren’t too worried about their sales track record as that was in the past and CVs are exactly that past achievement. I was more interested in how I can transform the potential that existed to meet what our customers needed. So, I trained them to be consultative and not transactional.

[bctt tweet=”Getting this balance right helped us build better relationships and retain those clients with upsell opportunities as well as referrals, says Bheki Nkomo “]

Bheki Nkomo, Founder, Tech Entrepreneur Qnum Analytics 

Digitize end to end inventory data capture

SALES HIRING CHALLENGE #10. Attracting Highly Motivated Sales Talent

How Fin vs Fin Overcame This Challenge:

The key is well-structured, performance-driven incentives. Why not offer unlimited upside to grow your business?

Of course OTE  must be achievable so that your team can accurately forecast income and plan their lives. But incentivizing sales talent to treat your business like it’s their own has been the single most important thing. How can you make them feel more like an owner, rather than a rep?

Alex Goldberg, Founder Fin vs Fin

Discover the best wellness products

SALES HIRING CHALLENGE #11. Making Our First Sales Hire

How Conmitto Overcame This Challenge:

It’s easy at first to try to go too big, too fast especially while building a solution or consulting business. While growing an early sales team, it usually works well to start with one great sales professional to help you begin bringing your product or service to market.

Early on, it’s about learning quickly and allowing the sales, marketing and product development cycles to evolve together. It’s more difficult to do this with a large team in place, and I’ve seen firsthand how painful it can be to change or adapt once you’ve made a few great but potentially mistimed hires.

[bctt tweet=”The first sales hire should either be considered a ringer with serious connections and a strong sales background, or an industry expert that would really act as a sales advisor, says Akash Agarwal”]

That will help you define and grow your offerings to fit the needs they’ve seen solving this problem first hand.

Based on the approach that works, it may make sense to hire more sales professionals with a similar background, or it may make sense to partner with a larger firm that is in the industry that can be trained to cross-sell or up-sell for you.

There’s no one-size fits all method, and you may find that direct sales hires, outside SDRs that focus on meeting generation, or a partner channel oriented approach work for you, or a healthy mix of the three may be the best approach. It’ll all depend on your industry and the state of your business, so the first step is to start trying and learning!

Akash Agarwal, CEO, Conmitto

Configurable cloud software for supply chain management

SALES HIRING CHALLENGE #12. Creating a Large Team of Sales Advocates as a Startup Company

How Aqai Overcame This Challenge:

Having been an entrepreneur for over 20 years, growing and scaling multiple teams and companies, sales is the lifeblood for growth. The challenges in hiring great salespeople and teams have evolved over the years. In my latest start-up at AQai we have focused on two key aspects to grow our company through a specific sales and go to market strategy.

Firstly, having a compelling mission, one that deeply resonates and connects with our audience of coaches and HR leaders. This driver to inspire & empower every human with the skills to adapt and thrive. Ensuring no-one is left behind in the fastest period of change in history, has been the corner stone to attracting truly great talent.

The second and important strategy has been to empower a global network of distributed agents to act as our sales advocates. With this strategy we have managed to rapidly train, certify, and enable over 200 coaches and consultants to win more business, and do more interesting work. With their sales and success, driving exponential growth on our adaptability assessment and training platform. This strategy has removed the traditional thinking for hiring, and the barriers of initial funding the growth of a direct sales team.

Using this strategic approach has enabled us to land significant projects with companies like Microsoft, IBM, The Federal Reserve Bank and Havi, among many other pioneering, people focussed organizations.

To find out more about our work, the community we are building focussed on the mental health and wellbeing in the future of work, please check out www.aqai.io

Ross Thornley, CEO & Co-Founder AQai 

Change, retain and prepare your people for change

SALES HIRING CHALLENGE #13. Making Sure We’re Hiring the Right Kind of People to Fill the Role.

How Sched Overcame This Challenge:

sched.com

The biggest challenge we’ve faced in hiring sales talent is making sure we’re hiring the right kind of people to fill the role. Sched helps individuals and teams create great events with our event scheduling software.

We invest significant resources in training our sales team to be able to offer solutions for our customers’ challenges when trying to plan great events.

We want to make sure our salespeople can uncover problems, explain our solutions and build trust along the way.

[bctt tweet=”We also try to hire people who have capacity for growth beyond the current role.  says Marvin McTaw”]

Instead of just hiring a Sales rep, we are trying to hire people who over time can expand their roles. Our company is remote, distributed and filled with self-motivated, accountable people. We look for bright, hard working, results-oriented individuals with high levels of integrity because they are the most likely to succeed within our team.  Finding these people makes our typical hiring process look more like an audition than the typical “application and interview” process. Hiring good people is tough. Hiring good sales people is even tougher. Our hiring process helps reduce some of that risk and increase the probability of a successful sales hire.

ceo

Marvin McTaw, CEO of Sched.com 

Event Scheduling Software & Event Mobile Apps

So, there you have it. Thirteen founders sharing their personal advice on how they overcame specific Sales Talent Hiring challenges.

▶ QUESTION: What specific hiring challenge would you like to see covered in this article? Please share your comments below.

▶ Not Sure What The Best Way is to Solve Your Sales Hiring Challenges?

Book a complimentary business strategy call with Yoon Cannon here:

https://stage.paramountbusinesscoach.com/coaching/coaching-call-sign-up/


▶Hiring for the first time?  

Download the free printable Hiring Checklist here: