Unleash Your Agency's Growth with the Hotshot Rule
You know that feeling of being stuck with your business. It's not that things are necessarily bad or that the rug is being pulled out from under you. It's more a sense that things should be going better based on the effort you're putting in. I liken it to being a farmer: you've planted plenty of seeds, and now it feels like it should be harvest season—but it's not. And, you're stuck. The question you want answered is this: how do you become unstuck?
I use various tools and methods when coaching agency owners to help them get unstuck. But recently, I came across an idea that I want to share because it's simple and has helped me take an outsider's perspective on my own business.
This tip comes from Kat Cole, the former President of Cinnabon. She calls it the Hotshot Rule. Four times a year, Kat would find a quiet spot to think about how her company was doing. Then, she'd ask herself, “Let’s say a hotshot takes over my job today. What two or three things would the hotshot look at and say, ‘That’s unacceptable’?”
Now, when you try the Hotshot Rule for your own agency, you might discover quite a few areas that need some TLC. Trust me, I've seen it all when working with agencies like yours. Let me give you some examples:
Letting clients pay late constantly. This is a cash flow killer. When this happens, your clients are pretty much using you as their bank.
Winging it without a clear, written-out plan for growth. What got you here won't get you there. Getting to the next level requires a strategic roadmap.
Not knowing client profitability. Keeping unprofitable clients without a plan for improvement will hurt your agency’s financial health.
Poor client onboarding. You know this, but I'll still say it—not having a simple, repeatable onboarding process is a recipe for confusion and inconsistency.
Going above and beyond for clients without adjusting the scope or fees. If you've done this before, and I'm guessing you have, you know this is essentially a cocktail of burnout and resentment. Think about how you might set clear boundaries and make sure your agency is paid fairly for its work.
No clear differentiation. You don't want to look the same as every other agency in your space. There has to be a unique positioning strategy that sets your agency apart from competitors.
Neglecting succession planning. People are staying at agencies for shorter times now. Sometimes it's a blessing when they leave, but other times it disrupts operations. You should have a plan in place for leadership transitions or key employee exits.
Inconsistent service delivery. This is one of the easiest ways to damage your reputation. There should be a process to get work done as opposed to letting different people manage projects differently.
Ignoring employee development. Many of the agencies I work with don't pay at the top of the pay scale, so the people you hire will need to be upskilled. Failing to invest in training and professional growth will limit your agency's capabilities.
Treating your own agency's marketing like an afterthought. You tell your clients about the importance of marketing but somehow fail to invest in your own branding and marketing efforts.
So, here's my challenge to you: incorporate the Hotshot Rule into your business routine. Every three to four months, take a step back and look at your agency through the eyes of a hotshot. The purpose of this exercise is to give you a renewed perspective and help you identify blind spots that might limit your growth. This isn't just about fixing what's broken; it's about helping you chase greatness. Trust me, your future self will thank you for it!