Hi and welcome to the OWN IT podcast, where we celebrate the growing number of (women and non-binary) ad agency owners and talk about buying out of the boys’ club of advertising, one agency at a time.
Today, we’re talking to Lori Gaffney of Borders Perrin Norrander … BPN. Previously on Own It, we’ve talked to agency owners who came up through strategy or creative. Lori is a bit of a rare breed in that she came up through the media side of the business. But she has been an inspiring and successful leader in the advertising world for 40 years across all aspects of the industry.
Lori talked about an interesting challenge in agency ownership that we all need to think more about, which is pay equity. She also shared her challenges with impostor syndrome … a lot of us fight self-doubt. Lori offered some sage advice to win that battle.
I had so much fun learning form Lori. I know you will, too.
Thanks for listening to this episode of OWN IT. Learn more about Borders Perrin Norrander at bpninc.com. Make sure to connect with Lori on LinkedIn as well.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Lori Gaffney's journey into agency ownership was unexpected. She became president in 2012, and then sole owner in 2014, not by design, but because the opportunity arose and other partners retired. This "accidental" ownership, though initially daunting, ultimately allowed her to reshape the agency according to her values and vision.
Ownership comes with immense responsibility, particularly in ensuring the stability and well-being of employees who rely on the business. Lori found that a challenging first year as owner, including layoffs, ultimately led to a realization: as owner, she had the power to redefine the agency's culture, values, and client relationships. This shift to focus on values, such as becoming a B Corp, being woman-owned, and prioritizing diversity, created a more fulfilling and successful trajectory.
A significant challenge in agency ownership is maintaining pay equity, especially with new hires often commanding higher salaries due to market demands. Lori emphasizes the importance of transparency and ensuring that compensation is fair across the board, drawing from her own negative experiences with pay disparity in her career.
Lori experienced significant imposter syndrome when she stepped into leadership and ownership roles. She believes that self-doubt can be exacerbated when one feels unheard, particularly for women in male-dominated environments. To combat this, she advocates for a culture where everyone's voice is valued and heard, contributing to a stronger sense of self-worth and confidence.
Coming from a media background, Lori highlights the importance of integrating media and creative functions within an agency. She argues that traditionally siloed departments hinder effective work. A leader who appreciates the analytical insights of media can enhance creative output, demonstrating that a media background is valuable in leading a full-service creative agency.
