What a Strange Year
It started with a mad dash for talent, the hottest M&A spring maybe ever, then imminent recession fears, the return of in-person conferences, an industry-wide vacation in August, a slower but still solid autumn, and finally, the emergence of viable AI tools that could reshape the industry.
Exhale.
While it was weird, most owners I chat with seem to be doing pretty well. We’re back to the standard agency concerns, which is kinda nice. We’ll know more for sure when we do our annual outlook survey early next year.
Instead of a typical research/essay-style newsletter, this one’s more of a Greatest Hits kinda thing.
This newsletter list has grown a lot this year, so if you missed them the first time, this is a great chance to check out some of the most popular posts from 2022.
Greatest Hits
Writing is important to me. More than anything, it helps me structure and solidify ideas.
Unfortunately, when new client projects come in, I tend to dive deep, which leaves little down time. In addition, I’ve been told I have a “high minimum quality bar.” I think they were calling me a perfectionist… These two things make it tough for me to balance client work and producing content at a level I deem acceptable.
So I made it a personal goal to write more in 2022. I was able to publish 19 Nick-quality newsletters this year which let’s me label that goal “achieved.”
Here are the five most popular:
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When has a mission/vision statement ever helped anyone?This one really resonated with people. I think it sort of gave permission to choose a mission and vision that aligns with your personal goals instead of how they’re typically chosen.
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New Agency Economics – Margins Are ShiftingThis was interesting because it helped shed some light on what “standard” margins look like for digital shops.
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Buying Digital Agencies Can Destroy ValueThis one actually ruffled some feathers. I received more responses to it than any other newsletter, with maybe a third of them challenging the post. I stand by my bottom line to “buy with purpose.”
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Roles, Goals & Agency StructureI loved writing this one. It helped me solidify and communicate exactly how I see the structure and key functional areas of a shop. I’ve referred back to this post multiple times already.
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Are you a factory or a consultancy?Finally, this was probably my most important piece of the year. It provided a framework to answer a lot of the questions I got from the Roles, Goals & Agency Structure post.
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Signing Off for ‘22
Hopefully, these posts help you create a more successful strategy and make 2023 just a bit easier.
With that, I’ll be around, but I’m taking a few weeks off from new client work. If you’d like help with your digital shop, feel free to reach out, and we’ll set up a time to chat early next year.
In the meantime, I have some built-in bookcases I told my wife I’d have finished before Thanksgiving.
Until ’23,
-Nick
