Escape From A Dysfunctional Business. MATT FISCHER, PRESIDENT, CURIOSITY ADVERTISING 1982-2001 in NYC AT&T, Pepsi, GE, Nabisco, Tropicana, Frito Lay,

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Presentation transcript:

Escape From A Dysfunctional Business

MATT FISCHER, PRESIDENT, CURIOSITY ADVERTISING in NYC AT&T, Pepsi, GE, Nabisco, Tropicana, Frito Lay, Kraft, Goodyear Multiple Super Bowl Spots Lost my job in the post-911 meltdown Spent 18 months freelancing/looking for a job Had opportunity to join small agency in Cincinnati as a minority partner in spring of 2003

CINCINNATI - DREAM JOB Learned intricacies of running small agency vs. big agency Loved my staff and clients Proud of our work Grew agency 400% in 5 years Project>agency of record Local>national clients Staff grew from 14 to 75 Hated my boss

LESSONS LEARNED IN CINCINNATI Should have done my homework on the majority owner Didn’t cut his teeth in the ad industry Didn’t embrace service business model Minority partnership - not a good idea Need trust and truth

4Q 2008 Business doing well All time personal low Felt trapped and frustrated Angry and embarrassed Found CEBI! (or CEBI found me)

DECEMBER MY VIRGIN CEBI MEETING Not sure what to expect Spilled my guts to complete strangers Didn’t realize level of stress

They listened Asked insightful questions Shared personal stories Cogent and actionable advice Encouraged me CEBI FEEDBACK

Admit self-deceptions Cannot change situation If I just try a little harder... Must leave Square it with my wife first Don’t be afraid of risk Control my own destiny Begin job search Understand non-competes MY TAKEAWAYS

Business issues Credit line Breaking point for minority partners MAD MEN - August 2009

Explained developments Received excellent advice Banks and credit lines Potential legal needs and path Strategies and options Confidence MAD MEN - CEBI 3Q MEETING

Agreed to buy agency from majority owner He changes mind and fires minority owners Successfully negotiate non-competes Won right to start new agency Contacted clients after separation agreement Hired away staff to new firm MAD MEN - THE SPLIT

Opened doors January 1, 2010 Started with 3 clients Staff of 9 THE BIRTH OF CURIOSITY ADVERTISING

10 Clients - National and local 20 Staff members Expect to be at 30 by end of year CURIOSITY ADVERTISING T0DAY

Never been happier Eternally Grateful for the advice and support from CEBI MATT FISCHER T0DAY