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Published byAnnabella Atkins Modified over 9 years ago
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Escape From A Dysfunctional Business
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MATT FISCHER, PRESIDENT, CURIOSITY ADVERTISING 1982-2001 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
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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
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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
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4Q 2008 Business doing well All time personal low Felt trapped and frustrated Angry and embarrassed Found CEBI! (or CEBI found me)
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DECEMBER 2008 - MY VIRGIN CEBI MEETING Not sure what to expect Spilled my guts to complete strangers Didn’t realize level of stress
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They listened Asked insightful questions Shared personal stories Cogent and actionable advice Encouraged me CEBI FEEDBACK
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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
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Business issues Credit line Breaking point for minority partners MAD MEN - August 2009
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Explained developments Received excellent advice Banks and credit lines Potential legal needs and path Strategies and options Confidence MAD MEN - CEBI 3Q MEETING
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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
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Opened doors January 1, 2010 Started with 3 clients Staff of 9 THE BIRTH OF CURIOSITY ADVERTISING
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10 Clients - National and local 20 Staff members Expect to be at 30 by end of year CURIOSITY ADVERTISING T0DAY
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Never been happier Eternally Grateful for the advice and support from CEBI MATT FISCHER T0DAY
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