EP 385: Taking stock of where you make fear-based decisions in your agency with Drew McLellan
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One of the most common traps we fall into as agency owners is making decisions based on our fears. Every day we have to make hard choices, and it’s easy to fall victim to a fear-based narrative when trying to make everyone happy while keeping a business afloat. But fear not — I have some advice for you that will help you see the bigger picture of where you are likely making fear-based decisions for your agency. This week, my goal is to help you identify the most common fear-based business decisions, understand why this happens almost universally, and learn some tricks to rewire our thinking around these decisions.
As you listen to this episode, take stock of when you’ve made decisions out of fear. Fear of losing a good employee, fear of losing money, fear of missing out on a good project or client — and see if you can find a better approach to tackling even just one of these examples.
For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops and more.
A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here.What You Will Learn in This Episode:
- The biggest, worst fear-based decision agency owners often make
- Acknowledging the truths behind our fears and putting action behind them
- Financial decisions (and mistakes) we make when we’re afraid
- How we hand over control to our clients when we’re acting out of fear
- The vital role of client and employee satisfaction surveys
- The psychology behind fear-based decisions
- Why you should step away from a problem and ask for help
- How to rewire our thinking around decisions and get out of the fear narrative