It’s weird to think that 2024 is halfway over, but equally strange to think that there are six months left. I guess as I get older my relationship with time has been getting a little out of whack, but one thing I am consistent with is sending out a weekly email newsletter. I write these newsletters to share helpful tips gleaned from the Bureau community of marketing leaders. It’s a useful resource available to anyone by signing up here. If you missed the June emails, here’s a quick recap.
Overcoming Fears Together
We all have concerns that can overwhelm us if we allow them to, but by sharing those fears with others we can rob them of their power. One of the most prominent worries we hear about is the economy. But you know what? Your clients have the same fears! Having open and honest conversations with clients about financial uncertainties can help you both. Similarly, clients are concerned about AI and want to know agencies are on top of the situation. It’s good to let them know you’re all in the same boat and can face things together.
Fractional Leadership
Everyone wants to bring the best leaders into their company, but the cost of a full-time exec with tons of experience can be a little tough to swallow, especially when times are a bit tough (remember we just talked about that a minute ago?). But sometimes even a part-time CMO, COO, CFO or, well you get the picture, can still provide a lot of value to your company. You can get flexibility and highly specialized skills with this fractional leadership, as long as you’re willing to compromise on the time constraints and potential conflicts of interest. It’s not for everyone, but it’s worth considering.
Putting the Past Behind Us
Everyone’s got a few regrets (putting it mildly), and if you don’t deal with past mistakes they can overwhelm you at just the wrong time, freezing your forward progress. But there are a few useful steps you can take that will help you let it go and focus on the here and now. From mindful breathing exercises as an individual to developing a workplace culture of being in the present, you can make sure that all your decisions are based on where you are now instead of things that are out of your control.
Get that Bread
Struggling to collect from your clients? We discussed a few options, including determining up front if you will offer a grace period, and when you might give any more time to clients based on a history of reliability. You can do a few things to gradually escalate the urgency of payment, starting with a phone call once they are 10 days past due, and then sending formal letters until it’s time to stop working for them until they pay the full balance. It’s a delicate dance weighing your risks, but you can’t let others take advantage of you.
There you have it! June was a month packed with useful info. If you’d like to see the full version of articles like this, the free weekly newsletter is worth receiving. Not sure you’ve got the 5 minutes a week to read what I so painstakingly produce? Check back here next month for the highlights.