How Megan Lally of Highdive, Owns It
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 Megan Lally of Highdive. She and her partners spun off Highdive after working at big holding company agencies and saw early success. We talked about that success, the challenges and advantages of being in a partnership as an owner.
Megan and I talked a lot about the qualities women bring to the table to make our industry stronger. It was such a good discussion that helps move our approach to closing the gender gap forward.
Learn more about her firm at highdiveus.com. Make sure to connect with Megan on LinkedIn as well.
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Key Takeaways
EPISODE: Megan Lally of Highdive
1. Partnership for Success: Leveraging Diverse Strengths | 00:09:07
The early success of Highdive is attributed to the diverse yet complementary strengths of its four partners. While they share similar passions for the industry, their different perspectives and skills (creative, account management, operational) allowed them to present themselves to clients with the polish and quality expected from larger agencies, despite being a smaller entity. This synergy, combined with relentless effort, helped them secure major clients early on.
2. The Importance of a Support System When Starting an Agency | 00:12:02
When starting an agency, it's crucial to build a strong support system beyond the advertising network. This includes seeking out business attorneys, accountants, and other professionals who have experience guiding new ventures. These external experts can provide essential advice on legal and financial aspects that founders often don't anticipate, laying crucial groundwork for future growth.
3. The Joys of Agency Ownership: Fulfilling Growth and Shared Passion | 00:14:16
The most fulfilling aspect of agency ownership is witnessing the growth and shared passion of the team. From the initial challenges of establishing the business to seeing a team of 80 employees come together, the collective achievements and the energy of the staff are incredibly rewarding. It’s humbling to see the agency become a entity much larger than its founders, driven by the dedication of its people.
4. Empathy as a Core Strength of Female Leadership in Advertising | 00:18:50
Increased female leadership in advertising could significantly benefit the industry by fostering empathy. Since advertising is a people-centric business driven by ideas and creativity, empathetic leadership cultivates healthy relationships within the team. This, in turn, leads to a more positive and less fear-driven environment, which scientifically correlates with greater creative thinking and better problem-solving.
5. Challenging the "Always-On" Culture to Foster Creativity and Balance | 00:20:05
The industry needs to challenge the demanding "always-on" culture and reject the notion that burning out employees is necessary for success. Prioritizing work-life balance, encouraging vacations, and setting clear expectations with clients that not every situation is an emergency can lead to healthier teams and, ultimately, more innovative and creative work. Rest and diverse experiences outside of work are vital for fueling creative thought.
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