Article - 2021 Predictions Part Three

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AUTHOR: Robert Craven

Don’t say what you wish for… I got some things a bit too right in my predictions. Here are some:

“The concept of the survival of the fittest is alive and well and kicking as we watch agencies all around us going bust, being put up for sale or closing at a moment’s notice.

The reality is that today’s agency ecosphere is different from what we have seen in the past: it is faster, smarter, brighter, less forgiving, more ruthless… The rate of change and the sheer volume of information that we need to process, never mind remembering the essential skills of running a business, mean that only the fittest will survive.”

The whole gamut of political, economic, social, technological, legislative and environmental change will bear down and create increased client nervousness.

More agencies will go bust than ever before.

It will be a case of the survival of the fittest.

It will be a case of adapt or die.

Working on the business rather than just in the business will enable you to design and flex the business to respond to the tsunami of change heading towards you.

In every growing industry there is a shakeout. This is no exception. There needs to be one to get rid of the dross that currently damages the reputations of many fine agencies that are out there.

With so much market turbulence, there will be plenty of opportunities to merge or acquire other agencies.

As every trader/gambler/entrepreneur will tell you, there’s more money to be made in times of uncertainty than in times of certainty.

There will be casualties. Just make sure you are not one of them. Remember, nature is brutally honest.