There’s a very compelling article in this week’s Advertising Age entitled “Does the Industry Need Big Digital Agencies Anymore?”. It’s an interesting question and one that we’ve asked repeatedly on this blog. What’s most surprising is the continued hubris evidenced in the quotes from representatives of “traditional agencies” that pepper the article.
Jim Collins has described the path many of these companies are on in his book, HOW THE MIGHTY FALL. This video conversation with Charlie Rose succinctly lays out Collins theory of how successful businesses can decline rapidly and it seems to be referencing many of the same trends that are touched on in the Ad Age article.
Watch the interview and ask yourself … is my agency a Stage 3 company? Then ask yourself … is my organization a Stage 3 company as well?
Self awareness is more important than ever in business. So if you were unfortunate enough but honest enough to answer yes to either of those questions, ask yourself “What am I going to do about it?” And if you were lucky enough to answer no to those questions, ask yourself, “How do I make sure that doesn’t happen to my team?”