On Strategy Showcase: EP#1 - Planning On The Outside (Life After Agency Life)
Host: Fergus O’Carroll
Release Date: December 2, 2024

Introduction: Shifting Landscapes in Strategic Roles

In the inaugural episode of On Strategy Showcase, host Fergus O’Carroll delves into a significant trend shaking the marketing and advertising industry: the departure of senior strategists from traditional agency roles to embark on entrepreneurial ventures. Highlighting recent exits like Martin Weigel from AMV BBDO and Martin Beverly alongside Richard Brim from Adam and Eve ddb, Fergus sets the stage for a deeper exploration of why seasoned strategists are seeking new horizons beyond the confines of established agencies.

Guest Introductions: Trailblazers Beyond Agencies

Fergus welcomes three prominent guests who exemplify this shift:

• James Herman – Founding Partner at Previously Unavailable and co-founder of New and Improved Ventures.
• Adrian Ho – Co-founder and Chairman of Zeus Jones in California.
• Brent Vartin – Managing Partner at Bullish in New York.

These strategists have leveraged their extensive agency experience to venture into startups, venture capital, and innovative consulting, demonstrating the diverse paths available post-agency life.

Experiences of Leaving Agencies and Building Ventures

Adrian Ho: Navigating Agency Constraints

Adrian Ho shares pivotal moments that catalyzed his transition from traditional agency work to founding Zeus Jones. Reflecting on his tenure at Fallon, he recounts the challenges faced while working on high-profile campaigns for Microsoft and Sony:

"We won the Sony Walkman business with an innovative strategy, but were let go six weeks later when the client couldn’t implement our vision due to product limitations." [14:23]

Similarly, a successful campaign for United Airlines was abruptly halted once the client secured additional funding for service upgrades, underscoring the limitations of solving deep-rooted business problems solely through advertising [16:08].

These experiences highlighted the frustration of strategists who could envision transformative solutions but were constrained by agency-client dynamics, prompting Adrian to seek avenues where strategic impact could extend beyond mere advertising.

Brent Vartin: Integrating Strategy with Venture Capital

Brent Vartin discusses the founding of Bullish, a hybrid venture capital firm and brand agency. By merging investment with in-house research, strategy, design, and advertising, Bullish aims to embed brand strategy into the heart of startups and growing businesses. This integrated approach allows for:

"Creating deep, emotional, sticky relationships between companies and their customers", enhancing brand value from the foundation up [33:55].

Brent emphasizes the unique value strategists bring to venture capital, bridging the gap between financial acumen and brand-centric growth, thus fostering more holistic business development.

James Herman: From Advertising Effectiveness to Startup Innovation

James Herman outlines his journey from agency planner at Colenso BBDO to founding Previously Unavailable and New and Improved Ventures. Recognizing that large organizations struggle with innovation, he pivoted to support startups where he could make a more immediate and significant impact. Key aspects of his approach include:

• Equity-Based Services: Trading consultancy services for equity stakes, allowing for mutual growth and aligned incentives [40:01].
• Long-Term Value Creation: Focusing on building brand equity that translates into substantial financial returns over time.

James highlights the profound financial benefits of this model, noting a net profit of 50% from investment returns, significantly surpassing traditional agency revenue models [32:49].

Insights on the Value of Strategists Outside Traditional Agencies

Embracing a Broader Business Perspective

All three guests concur that strategists possess invaluable skills in understanding and solving complex business problems beyond advertising. James articulates:

"Planners in the industry are talking about the same problems for 25 years. It's inspiring to see people actually solving those problems in new ways." [09:43]

Adrian adds that venturing beyond agencies allows strategists to influence fundamental business decisions, fostering environments where brand strategy is integral to operations rather than an afterthought [25:08].

Bridging the Gap Between Branding and Business Growth

Brent emphasizes the transformative power of integrating brand strategy with venture capital, enabling startups to build robust brand foundations that drive sustainable growth:

"Strategists deliver magic by understanding cultural tensions and creating brand value that financial models alone cannot achieve." [34:47]

James echoes this sentiment, underscoring the importance of embedding brand thinking from the outset to enhance company valuation and investor confidence [41:29].

Lessons Learned and Strategic Advice

Adrian Ho: The Importance of Focused Magic

Adrian advises strategists to maintain a sharp focus on their core competencies—creating transformative brand experiences—while respecting the expertise of other business functions:

"Our job is to give you some piece of magic that changes the landscape of what you're able to do." [44:35]

He cautions against overextending into areas outside strategic branding, which can dilute the impact and effectiveness of their contributions.

James Herman: Championing Long-Term Thinking

James advocates for a long-term perspective, noting that:

"Think long term because that's where all the biggest benefits and value come from." [45:52]

He highlights the limitations of the agency business model, which often prioritizes short-term gains over sustained growth, and champions a strategy that leverages compounding growth through sustained value creation [47:30].

Brent Vartin: Valuing Strategic Contributions

Brent emphasizes the critical role strategists play in venture environments, bridging the gap between financial objectives and brand-driven growth:

"Strategists know how to create brand value in a way that financial models alone cannot." [34:09]

He encourages strategists to view their work as integral to business transformation, enhancing both cultural and financial outcomes.

Conclusion: Expanding Horizons and Future Directions

Fergus O’Carroll wraps up the episode by highlighting the immense contributions of the guests and reiterating the potential for strategists to make significant impacts beyond traditional agency roles. He invites other planners who have made similar transitions to share their stories, setting the stage for future episodes that will continue to explore the evolving landscape of strategic roles in marketing and business.

Key Takeaways:

• Agency Limitations: Traditional agencies often restrict strategists to advertising-centric roles, limiting their broader business impact.
• Entrepreneurial Ventures: Transitioning to startups and venture capital allows strategists to embed brand strategy into the core of business operations, driving sustainable growth.
• Long-Term Value: Focusing on long-term brand equity and business transformation yields substantial financial and cultural benefits.
• Strategist’s Role: Strategists are invaluable in diagnosing and solving complex business problems, bridging the gap between creative branding and financial success.

Notable Quotes:

• James Herman at [03:41]: "If I could work with companies that are sort of like larger ad agency style clients, but I could help them create better products, then wouldn't that be nice?"
• Adrian Ho at [14:23]: "The skills that we have are so incredibly valuable at solving business problems."
• James Herman at [45:52]: "Think long term because that's where all the biggest benefits and value come from."

For those interested in the intersection of strategic planning, brand building, and entrepreneurial ventures, On Strategy Showcase offers invaluable insights and inspiring stories that transcend traditional agency boundaries.