It has been three years since Deloitte bought Heat Advertising. It was the first major acquisition by a consulting company of a creative agency; something that would not happen again in a big way until Accenture purchased Droga 5 this year. Typically agencies are purchased by holding companies so this was a major disruption and a sign that the typical advertising model was evolving.
Reflecting on the three year anniversary of the purchase, my husband; CEO of Heat, wrote an article reflecting on this experience. I am sharing it because he perfectly articulates how things are changing in our industry. The idea that if you do not disrupt what you are doing, someone else will is powerful and exactly how we should all be thinking about our own businesses. Heat’s road was not easy, but it has brought them to a place they would never have gotten on their own, and they are more relevant for it.
The whole article is worth the read, but my favorite paragraph is the last one. When he refers to not being able to pick your parents, he is of course referring to Heat’s relationship with Deloitte. It struck me as relevant because in this time in our industry it is more important than ever to partner with people who will help you to evolve your own business model to stay relevant yourself.
“You don’t often get to pick your parents. But if you’re lucky enough to do so, make sure they meet a few basic criteria.
1) They should help you embrace change and technology faster than you think you can.
2) They should help you accelerate into the next best version of yourself.
3) And they should scare you a little, too.
Do all that, and we’ll bet you, your clients, and their customers and employees will be happily surprised by the result. “
To read what else my husband has to say about our industry, and what it meant to sell his creative agency to a consultancy, link here. And, maybe someday I’ll chime in with my side of the story; but you will have to buy me a ginger margarita first.