Author: Peter Kang

Agency Journey Episode 51 (Y18M6)

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This year, I’m grateful for the opportunity to evolve my role in a significant way and take on new and interesting challenges. It’s been about six months since Sei-Wook and I made the shift from agency operators to holding company partners. I’ve enjoyed learning new things, meeting new people, and exploring new ways to create value for the holdco and our agencies. I’m grateful for Sei-Wook–we’ve worked closely together for over twenty years, dating back […]

My Personal Finance Snapshot (November 2024)

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In my update last November, with our family’s move out of Brooklyn to the Hudson Valley and welcoming child #3 out of the way, I thought the next 12 months would be far less eventful. For the most part, it has been. But it also hasn’t been without some twists. You can see all my past personal finance updates right here. Note: All content here is for informational purposes only and do not constitute any investment […]

Investing in Stories as an Asset Class

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I used to downplay my introductions when meeting new people. “Oh, I make websites,” I would say. People would assume I was a freelancer working with local small businesses. Nothing wrong with it, but also not memorable. Over time, I got comfortable sharing more details – that I ran my own business I co-founded with a friend, that we worked with X, Y, Z brands, and produced this and that kind of work. More people […]

Agency Journey Episode 50 (Y18M5)

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In early October, we relaunched AgencyDocs as AgencyHabits, a resource for agency operators drawing from the learnings at across our businesses at Barrel Holdings. The reception has been positive and we’ve managed to grow the email list since going live. We’ve posted over a dozen articles and began sending out a weekly email. The goal is to replace the downloadable templates and SOPs currently on AgencyDocs with a tighter and more updated version by the […]

Agency Journey Episode 49 (Y18M4)

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My co-founder Sei-Wook gave a talk this month on digital marketing trends to a private equity group and executives from their portfolio companies. The talk was very well received and may lead to some opportunities for our agencies. Sei-Wook worked tirelessly to create a deeply-researched and engaging presentation, filled with memorable visuals, data, and examples. The presentation opportunity came about as we started representing ourselves as Barrel Holdings, not just focused on e-commerce websites, but […]

The Agency Feedback System

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In a healthy agency culture, feedback is always flowing and driving continuous improvement. It’s vital to build a system that drives new feedback. Rather than one-off attempts to gather feedback, set up recurring and repeatable processes. Here are some feedback collection mechanisms that we’ve used across our Barrel Holdings agencies: Client Satisfaction Survey: after a project or periodically (e.g. monthly, quarterly), send a short survey asking for scores on communication, work quality, project management, value […]

Agency Journey Episode 48 (Y18M3)

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When a lead comes in directly to me these days, I usually just loop in the appropriate agency by email and let them take it from there. Still, for a select few calls each week, I end up taking a call on my own first. These are usually opportunities where it’s not totally clear which agency would be the best fit. I enjoy these calls because I can take the time to learn about the […]

Agency New Business Sales Basics

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I remember the earliest days of doing new business sales at Barrel – we cobbled together screenshots of some random freelance work as our portfolio and had nicely printed business cards. The only reason we won was because our prices were unbelievably low. In many cases, we would’ve just done the work for free. It took time for us to build up our standards for handling new business. We had to get the basics in […]

Agency Journey Episode 47 (Y18M2)

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It’s been an exhilarating month as Sei-Wook and I fully turned our attention to running our holding company. We have so much we want to accomplish but we know our bandwidth and resources are tight. In some respects, it feels like 2006–it’s the two of us trying to build something new from the ground up. The name of the game is to prioritize and execute one thing at a time. Very hard to do. About Agency […]

Following Other People’s Advice

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“The only way to ensure you don’t lose money is to charge by the hour,” K said. J took notes. K had built a profitable software development firm and had a roster of global enterprise clients. Proof that the hourly billing model worked. “You have to be ruthless about qualifying prospects. We only work with companies that can spend at least $250,000 a year,” said L. J took notes. L ran an innovation and design […]

Agency Journey Episode 46 (Y18M1)

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In early June, we publicly announced that I would be stepping aside as CEO of Barrel, handing off the role to longtime Barrel partner Lucas Ballasy. It’s been a couple years in the making, and I couldn’t be prouder of the fact that Lucas is more than ready to lead Barrel and take it to a new level. Check out the LinkedIn post of the announcement by me and by Lucas. My co-founder Sei-Wook and […]

A Tale of Two Agency Owners

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T and R each ran successful agency businesses for over ten years. Both their shops offered similar creative services. They each had an eclectic roster of clients including some global and national brands as well as a few smaller regional businesses. They both produced high quality work that garnered respect from peers and awards from various industry groups. Their reputation had allowed them to charge premium prices. Over the past year, both T and R […]

Agency Journey Episode 45 (Y17M12)

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Our family enjoyed a wonderful Memorial Day Weekend as we hosted some friends and spent quality time with kids in the pool, eating BBQ, and relaxing in perfect weather. Incredibly grateful for the wonderful time. I still remember the holidays of my past, when I would feel burdened with thoughts of work, convincing myself I needed to devote some hours catching up on proposals and emails. I’d often work myself up to a certain level […]

Thoughts on Reinvesting Agency Profits

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One of the learnings from running an agency business for a while is that when business is going relatively well and we’re able to generate profits, it’s critical to make some investments that can ensure that favorable results continue. You can, of course, dividend out all the profits and take home more dollars. But to protect future profits, it’s worth exploring ways to stay competitive and differentiated. I’ve jotted down some thoughts below including some […]

Agency Journey Episode 44 (Y17M11)

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This is the final month of our lease at our 197 Grand Street office. Next week, we’ll be completely moved out. We’ll be renting a desk and conference room access from our friends at The Working Assembly. It was in 2011 that we first moved to 197 Grand Street. I was on my honeymoon when Sei-Wook orchestrated the move (God bless him, he’s also orchestrating the move out). We were on the 6th floor in […]

Simple and Repetitive

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In my twenties and thirties, I sought out variety and spontaneity. Being surrounded by lots of friends, being in different places, doing a lot of new and different things. That was what felt like living, being happy. Reflecting on how my life’s evolved into my forties, especially with kids, I’ve come to see simple and repetitive as the basis for happiness. I recently had some travel for work as well as a family trip and […]

Agency Journey Episode 43 (Y17M10)

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A quick update on my LinkedIn posting activities in the first 3 months of 2024: I’ve consistently posted every weekday with the help of Deal Bridge, who keep me accountable for writing new posts and also helping to recycle some older posts for when I don’t have new ones ready. This has been going on since May 2023. Gained about 800 new followers in Q1, not a big number but steady growth.  220k impressions across […]

Pros and Cons of Small and Big Projects

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I’ve read a lot of advice over the years on the importance of being disciplined in the types of projects you go after. One has to do with small vs. big projects–going after either a high volume of small, easily repeatable projects or focusing on going after a few large, highly complex but amply budgeted projects. Try to do a mix of these and it’s unlikely you’ll have a good business. Do either one very […]

Agency Journey Episode 42 (Y17M9)

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I’ve been enjoying a biography of Walt Disney, Walt Disney: The Triumph of The American Imagination by Neal Gabler. I’m about 80% through and one of the things that struck me is how, for the first twenty or so years of the business, Disney struggled financially and came very close at multiple points to losing it all as an animation/movie studio. The financing of animation movies was risky business and it took a combination of […]

Agency Journey Episode 41 (Y17M8)

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This cycle may be familiar to many agency operators: when you don’t have enough work, you scramble to ramp up your business development efforts while cutting back on recruiting; when the tide turns and the work starts pouring in, you scramble to ramp up your recruiting efforts in order to have the people to deliver on the work, all while neglecting or cutting back on sales and marketing efforts. It often feels like we’re 2-3 […]