For anyone who has never seen the hit TV Show Mad Men, it’s a show that depicts the American Advertising industry during the 1960′s.  It is clear that a lot has changed since the ‘real Mad Men’ completely revolutionised advertising in the USA.  While times have changed – and the advertising industry has certainly moved on since the 60’s, there are still a number of lessons we can take away from the Mad Men era.

 

For any discerning gent with their own business, or leading a business, there are things to take away from Don Draper and his colleagues – Peggy Olson can teach us a few things about taking risky and gustsy decisions to get high rewards. Elysium Magazine takes a took at what the discerning gent can take away from the Mad Men series to date:

 

Diversify

 

In one episode the newly formed company, which is a small business faces the loss of the client “Lucky Strike”. This immediately sends shock waves rippling through the business, as the possibility of losing their biggest client would have a detrimental impact on the bottom line.

 

Ideally the best strategy could be to continue to get more new customers so that your entire business model is not dependent on the one customer and therefore the one source of income.

 

Network

 

Offline, as well as online, networking and shaking hands is as important today as it was in the 1960’s. Meeting new contacts can result in learning much more about the industry and gaining valuable insight. Social Media means your audience is global. Not only can it create new opportunities for you or your business, it can certainly enhance your chances of progression.

 

When opportunity knocks…

 

When an opportunity arises to start the new agency, the principals don’t dawdle. They have to make a quick decision and then implement it fast — working non-stop day and night to ensure it works. Many potential entrepreneurs have great ideas – full of energy and spirit, but they sit on them far too long and that momentum is lost. Seize your opportunities and make things happen if you truly believe in them.

 

Share responsibility

 

In one episode the copywriter meets a person from another agency who lost her job and understands that there is a opportunity to get new business and works with an account exec over the weekend to get the new business. Stories like this are perfectly plausible and every employee should be empowered to look for opportunities to get new business. The result is helpful to the bottom line and every employee feels empowered to seek opportunity – going above and beyond for the business.

 

Understand strengths…and weaknesses

 

Don Draper is the driving force behind the new agency, but he’s not an account manager, administrator, or designer. That’s why they’ve pulled together a whole team. It is common for entrepreneurs to think they can do it all themselves. They can’t. You can’t. If you want to build a company or a team with a realistic future, find people who balance your weaknesses.

 

 

Think Different

 

In one season premiere, Peggy Olson makes a gutsy and risky move to save an account. In established agencies, they would never try to take this kind of action to save a client. But new companies gain their edge and reputation by coming up with fresh approaches and new thinking. Does it have risks? Of course but the rewards for trying are always tangible enough to demonstrate they are worth the risk.

 

 

So what do you think? Is there anything you can think of to help form our lessons learned from Mad Men? With Season 6 coming to the UK soon it would be great to hear what you think – let us know on Twitter or Facebook.

 

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