Agency NXD - Blog by Nick Jaspan

Ask our non-execs: Stephen Kenwright

Fri, 06 Jun 2025 10:07:27 +0000

Ask our non-execs. Stephen Kenwright. Stephen has launched his own agency and grew it to over 100 staff before exiting and subsequently had board roles at two other agency groups. He's also been head of digital at £4.7bn turnover Pendragon, was a consultant to Missguided and in his spare time founded SearchLeeds.

Stephen - you bring a wealth of start-up, rapid growth experience and scaling agencies up to our panel of NXDs. What started you out on your journey.

I joined agencyland by accident, freelancing for a small integrated agency while studying for a Masters in Shakespeare. Eventually I found myself at a digital marketing agency called Branded3 at just the right time: they got acquired and I joined the management team quite quickly because they needed to think about succession. I had some strong advocates there, especially Tim Grice, who eventually became CEO. The rest, as they say, is history.

What prompted you to decide to launch your own agency Rise at Seven

I launched Rise at Seven almost by accident. I took a role brand-side at Pendragon PLC - then the UK's largest automotive retailer - and it quickly became clear that it wasn't going to work out. At the same time, Carrie Rose was applying for the Apprentice and asked me for some input into her business plan. She didn't get onto the show (which is a shame because she'd have been incredible on it) - but the plan seemed good so we decided to do it together, rather than me going looking for another job.

In just three years with Rise at Seven you oversaw remarkable growth with staff rising to 110 and sales climbing above £7m. Can you briefly outline the key reasons that drove this growth?

We had a good plan and we executed it; there was a strong focus on sales and marketing throughout the business and everyone felt responsible for (and part of) the business' growth; we decided we would use social media to scale and hired people who had the skills (and following) to make that happen with us; we had a more proactive approach to recruitment than agencies usually do, with a wish list of potential hires and a constant pipeline of budding employees waiting in the wings. Ultimately we grew very quickly because marketing works - and we did a lot of it.

And after just three years, you stepped down. Why was this.

My co-founder and I had different visions for the business: I'd always wanted to grow and exit and Carrie decided that she wanted to stay. If we'd continued, one of us wouldn't have achieved the outcome that we wanted, so we had a grown up conversation about it and determined that I should exit sooner rather than later. The accelerated timescale was definitely influenced by the pandemic - most of Rise at Seven's fastest growth came during COVID and I'd had a baby when the business was 3 months old, so I basically hadn't slept in 3 years. I feel very lucky to have been able to exit when I did and spend a lot of time with my little boy before he went to school.

You helped the ambitious agency group Ride Shotgun in its formative years and the merger of Branded3 into Edit. These are both in many ways different sides of the coin - what skills do you believe you were able to add there.

I love learning and I joined Ride Shotgun because it was new to me: I'd never worked in production before and I wanted to understand it. Lots of the skills I've used have been required everywhere I've worked: Rise at Seven's business model was very similar to Branded3's - and I'd seen the M&A strategy at Ride Shotgun before with the merge of Branded3 into Edit, so those two businesses also felt quite similar in the end. Sales has been the consistent thread throughout my career and I would certainly say that anyone who wants to make a difference in agencies should develop their selling skills.

You also consulted for two well-known brands in Pendragon and Missguided - how do you feel you were able to add value there as opposed to your native agency world.

Pendragon and Missguided were quite different engagements (and I've done more consulting besides). Both were under the guise of digital but, to be honest, tended to be more focused on commercial and strategy, which I've done in agencies for my whole career. I was at Missguided, for example, to help the team deploy a large project over three months, but the actual job was asking questions and working through business cases with analysts. That being said, I'm definitely happiest in agencies - I've seen enough now to recognise the patterns and solve problems very quickly.

And finally, what sort of agencies or companies are you ideally seeking to work with?

Having worked in digital marketing, development, content production, PR, media and creative, I bring a wider perspective to any type of agency - but I primarily work with those that have a leadership team in place (or are looking to create one), which typically means they have at least 20 staff and turnover more than £1.5m. The problems I solve are mostly growth-related: lack of pipeline, lack of conversion, lack of margin and a lack of fun while doing it.

Thank you Stephen

Ask our non-execs: Nicky Unsworth

Mon, 17 Mar 2025 12:28:49 +0000

Nicky Unsworth is the latest interviewee in our series of features where we ask our talented team of non-execs a few brief questions about how they got to where they are and what they believe they can offer our growing pool of ambitious agencies.

Ask our non-execs: Nicky Unsworth. Nicky led the MBO and subsequent sale of BJL to Dentsu

Hello Nicky and thanks for agreeing to be interviewed . You bring brand marketing experience as well as agency experience to our panel of NXDs Nicky. You started out in-house marketing - what prompted your move from gamekeeper to poacher when you opted to join BJL

I was sponsored by Pilkington for my Business degree (specialising in marketing), so I naturally started on the client side. Moving to an agency was about broadening my experience and allowing me to focus more on the strategic and communications aspects, which particularly interested me.

Once I joined an agency, I felt I had found my home: applying creativity to deliver commercial solutions, working with a portfolio of clients, and being inspired by the dynamic mix of people typically found in agencies all combined to create the perfect work environment for me.

Were you able to transpose in-house skills to the agency world and if so, what were they

Absolutely—I learned a great deal as a client. Starting client-side gave me a clear understanding of client priorities and the breadth of challenges they face. Often, communications are just a fraction of their responsibilities, whereas in an agency, it’s tempting to think it's the be-all and end-all.

This background probably explains why I’ve always had a strong commercial focus. I’m naturally drawn to the business side, and my early client-side experience provided a solid foundation in commercial thinking. It also shaped my results-driven mindset. Winning awards and industry recognition is great, but the most

important measure of success is delivering results—both for the client and the agency.

You joined as an account person and rose steadily through the agency including two key positions leading an MBO and subsequently a trade sale. Can you summarise the roles you played in this transformation.

Any major transition requires a team effort and the right people in place. I was keen to have my own business and played a key role in leading and delivering the MBO. I worked closely with external financial and legal advisors to lay the foundations and helped establish the financial infrastructure to make it happen. Beyond that, I was deeply involved in guiding the agency through its next phase of growth.

When it came to the trade sale, I was the instigator and lead. Once we had a deal on the table, the priority was assembling a strong team of specialists—including external advisors—and ensuring that key senior figures were split between maintaining “business as usual" and managing the sale process.

Keeping the business running smoothly during a transition is critical but challenging. Selling a business can put you under pressure for over a year, yet you still need to hit budgets and deliver for clients.

Deals can be fragile: priorities shift, clients face unexpected challenges, external market conditions change, the economy fluctuates, key metrics drift, or the acquirer and agency become misaligned during negotiations. It’s crucial to adapt to these shifting dynamics and control what you can. My role was to lead the team, manage the transition, and keep us aligned with our acquirer while maintaining business performance. It’s an energising process that demands tenacity, resilience, and a balance of optimism and realism!

And any insight, scars or experiences you learnt on your journey/s

No real scars (I’m resilient!) but lots of insights.

Surround yourself with great people – Success is rarely a solo journey. The right team and advisors can make all the difference - and it’s more fun when you’re working with the right people.
Balance long-term vision with short-term agility – You need a clear vision, but things change. Being adaptable while staying true to core goals is key.
Never underestimate the emotional side of leadership – Leading through change (MBOs,acquisitions, transitions) is not just financial and strategic; it's also about people, relationships, and emotions - even more important in a people based business.
Data and instinct both have a role – Numbers drive decisions, but gut instinct—honed through experience—is important.

And a few lessons maybe rather than scars

Transitions take longer and are harder than you expect – MBOs and sales can be intense, draining, and require relentless focus. Keeping the business running while managing a deal is one of the hardest balancing acts.
Not every opportunity is the right one – There are times when it is right to say no to growth opportunities if they don’t align with your strengths or vision.
You can’t please everyone – Change, especially in leadership and ownership, creates uncertainty. Some people adapt better to change than others, and some will always resist.
Managing burnout is critical – High-growth phases, transactions, and leadership challenges can take a toll. Prioritising personal resilience is as important as business resilience.
The deal isn’t done until it’s done – deals are often unpredictable - you need patience, adaptability, and the ability to hold your nerve!

You were one of three exec directors but running a business can still be lonely. How did you reach out for advice when you felt it could be useful.

We worked well together as an internal team, but I also valued external perspectives—it’s important not to operate in an echo chamber. When you work with the same people for a long time, you can start to think alike!

I relied on NEDs for wisdom, counsel, experience, and challenge.

I was also actively involved in Tribe Global (as a founder and later Chair for many years), and I found conversations with other agency owners invaluable.

Industry bodies such as the IPA, MPA, and NABs provided access to peers, fostering discussions that helped me differentiate between industry-wide challenges and BJL-specific ones.

The word is that BJL regularly received acquisition offers. Why did you decide that Dentsu was ultimately the right fit at the right time.

We had approaches over the years, but Dentsu was the right fit for several reasons:

Their offering complemented ours. We saw a future where creativity, supercharged by media and data, would be crucial for clients and would help us maintain a competitive advantage.
They added value—providing media insights, industry reports, research, and access to new markets.
They offered career progression opportunities for many of the BJL team.
Geographically, they opened up new possibilities.
Ultimately, we liked and respected the people, and the timing was right.

BJL made one acquisition under your leadership. How did that go, are there any lessons you can draw that you can share and why did you decide not to make further acquisitions.

We were primarily focused on excelling in what we did rather than pursuing acquisitions. The one acquisition we did make was driven by the need to bring a new skill set in-house—PR, which later expanded to include social media. We believed acquiring an established capability would allow us to integrate this expertise more quickly than building it organically.

Ironically, in my NED role now, I’m able to take a more strategic, high-level view and would likely be more open to M&A. But at the time, acquisitions weren’t a core pillar of our business strategy.

Building, managing and ultimately exiting an agency requires several different skill-sets. What advice can you share with ambitious marcomms bosses who also seek to grow and sell their businesses

Have a vision and a plan. Circumstances evolve, but you need a shared vision that aligns and motivates your team.
Break the plan down into tangible focus areas. We concentrated on four key pillars:
People: Recruit and develop the best talent, ensure cultural fit, empower them, and foster collaboration.
Product: Define a strong, competitive value proposition, then build a world-class offering.
Clients: Maintain an active acquisition and retention strategy.
Commercials: Have a solid growth-focused business plan, understand key KPIs, and let them guide decision making.

Now you've embarked on a portfolio non-exec career, what type of companies/agencies are you ideally seeking to work with and what are the specific plus points that you believe you can add to their management teams

Having led two major transitions—an MBO and a trade sale—I bring hands-on experience in helping build up to a transition and then navigating change. I’m best positioned to support businesses that are scaling, evolving, or preparing for a strategic shift, whether that’s growth, acquisition, leadership transition, or exit planning. I typically focus on five key areas:

Growth – Helping businesses scale sustainably and profitably.
Transition – Working with leadership teams through MBOs, acquisitions, or restructuring.
Team Development – Building strong leadership teams and fostering a high-performance culture.
Commercial Strategy – Ensuring financial and operational decisions align with long-term goals.
Industry Profile & Positioning – Elevating a business’s market presence to attract the right clients, talent, and opportunities.

Ultimately, I add value by combining strategic clarity with practical execution—ensuring businesses don’t just have a vision, but a clear plan to make it happen.

Thank you Nicky

Ask our non-execs: Paddy Moogan

Thu, 20 Feb 2025 13:52:07 +0000

Paddy Moogan is the latest interviewee in our series of features where we ask our talented team of non-execs a few brief questions about how they got to where they are and what they believe they can offer our growing pool of ambitious agencies.

Paddy, you discovered your entrepreneurial streak at an early stage selling sweets to fellow school kids at lunchtimes: how long do you recall it took you before you realised that that you might be cut out for self-employment

I think that I always knew that I wanted to work for myself at some point, but the entrepreneurial stuff always felt like a "spare time" thing rather than anything bigger than that, which is why I think I still went the academic route for a while and went to University. Having said that, after selling sweets at school, I moved onto selling DVDs and PlayStation games to my school mates which may or may not have been a legal enterprise! So I was forming a habit of finding ways to make money for myself throughout school and college.

You built your first website aged 14, is digital creation still effectively your core skill

I think it was but more than this, I just really enjoyed learning and understanding how things work. So after starting to use the internet for the first time and understanding what a website was, the natural progression was to learn how to make one. I remember that my very, very first website was a wrestling one and reported on WWF (at the time) news. I even managed to get the very long URL read out on a local radio station once! That's definitely carried through to now and whilst I'm definitely not a developer, I enjoy hacking around with code and seeing what I can do. It also definitely helped me as I moved into SEO because I could see how a website really worked and understand how it all fitted together.

You co-founded Aira 10 years ago but stepped back more recently before finally exiting in 2024. You were keen to stress that Aira was widely recognised as a "great agency to work for". What was behind that assertion and how important is employee engagement in terms of the hierarchy of running an agency/a people business

I knew that we built a great place to work because generally, everyone enjoyed working at the agency and more importantly, I could see just how quickly people progressed in their careers at Aira.

Many have moved on to do great things with their careers and have said that Aira was an important step along that journey. In terms of how important employee engagement is for running an agency, I'd say it's vital. If you distil it all down, an agency is basically people working with people: an agency working with a client. So if the people within the agency are engaged and motivated, that will lead to them doing better work for a client and a client having a better experience. I don't love the phrasing, but for an agency, people are the product so if those people are unhappy, disengaged and don't care about their jobs, the experience of the client will be negative.

At Aira, my co-founder and I understood this from the very beginning and tried to shape what we did to allow for a working environment that led to better work for clients.

Did you consider growth by acquisition as well as organic and if so, why did you not progress that avenue as well

We did consider this a couple of times, mostly to help build out other skills/departments that would allow us to do a better job for clients, we also considered (pre-pandemic!) geographic expansion into the US and Australia.

The pandemic however probably played the biggest role in halting these plans and even when we came out of that tough period, decided that we were better to focus on continuing organic growth as opposed to using cash reserves or taking investment in order to grow via acquisition.

Why did you decide to step back from day to day management of the agency

To be completely transparent, I stepped back because I'd had several years of very difficult times running the agency and the compound effect of this on my mental health was pretty severe. At first, I thought that I simply needed to take a couple of weeks off and then go back to my role. But as time went on, I realised that my mental (and physical) health was in a really bad way and I needed to step away from the agency completely, eventually leading to my business partner taking over completely and me exiting the agency in the summer of 2024. It wasn't the exit or ending that I dreamt of, but it was the one that I needed at that point in time.

And any insight, scars or experiences you can share that you learnt on your journey

Lots! I've spent a long, long time since my exit reflecting on the 10 years I spent running an agency. One of the main things that I realised was that we were told by a few people that as founders, we should seek to "let everything go" and put a team in place that could run the business without us. Whilst well-intentioned, I think that this led to us moving away from parts of the business that we were actually very good at and also enjoyed.

For example, I stepped away from hiring people which I know is a key strength of mine and I also enjoyed this process. The same could be said for the sales process which I and my co-founder very much enjoyed being part of, but let go of.

You state that you are particularly keen to work with agency founders so they are better equipped to face up to personal as well as business challenges. What do you mean by this please and can you give some examples

I think that running an agency is hard on a person and I can speak from experience here, as well as experience having worked with and spoken to many agency owners over the years. Whilst the owner can feel one and the same as the agency, they are different and I think that in order to run an effective agency, the owner(s) need to be very deliberate about how they work with the agency, their relationship with the agency, and how they handle challenges that come along.

Essentially, running an agency is a huge mix of highs and lows and everything in the middle and it can take a toll on a person. I want to help people ride those highs and lows and always remember that there is a real human being behind every agency.

Now you've embarked on a portfolio non-exec career, what type of companies/agencies are you ideally seeking to work with and what are the specific plus points that you believe you can add to their management teams

I think that I work best with agency founders who care about the work that they do and the team that works for them. I think this needs to form the basis of any successful agency, so having this foundation in place is really important for me.

Alongside that, I currently do my best work with agencies who are on a growth trajectory and experiencing (or are about to experience) the inevitable challenges that come with that - because I've seen most of them! Ultimately though, I'd say that for me, it's less about the ideal agency and more about the ideal founder.

The ideal founder for me is someone who is prepared to listen, take advice but then take accountability for their execution and work.

Thank you Paddy and enjoy your AgencyNXD challenges and supporting other ambitious agency founders and owners.

Ask our non-execs: Susan Hallam

Mon, 29 Apr 2024 14:47:23 +0000

Susan Hallam is the latest in our series of Ask our non-execs. She started digital marketing agency Hallam in 1999

How did you start your journey in the marcomms world, what did you do before setting up your digital marketing agency Hallam

My experience working on the Internet started way back in 1983.

Most people don't realise the Internet was a thing then, well before the advent of the world wide web and Google. I was an early player in the data management field, and in hindsight I was enough of a risk taker to just "say yes" to what became transformational digital opportunities. Before I set up Hallam I was a Senior Lecturer in Computing at NTU, and also had senior leadership roles in telecommunications and banking. I think that combination of academic and blue chip experience set me up well for the entrepreneurial journey that followed.

You worked for and learnt from others before deciding to 'do your own thing' - what was or were the factors that compelled you to want to have a go for yourself

It's surprising how many successful businesses consist of just their founders for a number of years, and then over time the business takes off and achieves that hockey stick growth. I set up on my own because I genuinely had a passion for digital marketing and wanted the freedom to do my own thing.

I was a "one man band" for 10 years before Hallam's growth took off, eventually employing 70 people and being named one of Google's top performing agencies in EMEA.

Running a business can be lonely. How did you reach out for advice when you felt it could be useful

I agree running a business can be lonely - particularly as a woman business founder in a technical profession where women hold less than 25% of the leadership roles.

I actively sought out a range of leadership development programmes that connected me with other business owners who gave me advice and provided a much needed sounding board. I am still in touch with some of those other business owners today, even after having exited my company.

Did you always plan to sell your agency and why ultimately did you decide to sell to the management

I have to confess when I was a kid I never once thought "I want to be an entrepreneur when I grow up." Like many agency founders, time passed and after years of hard work I woke up one morning and found myself leading a big company. Most successful agency owners have M&A companies sniffing around them, and we were no different.

After assessing offers from international buyers and exploring other options with our excellent business advisors, we agreed an MBO was the best way forward. The MBO kept our outstanding leadership team motivated, gave me the cash I wanted, and most importantly retained Hallam's company culture and unique market position.

Building, managing and ultimately exiting an agency requires several different skill-sets. What advice can you share with ambitious marcomms bosses who also seek to grow and sell their businesses

I think there are two things that help agency owners to scale up a business. First, you need your "North Star" - that overarching vision of what you do, and what you value, your passion, and where you are going. You can't fake being an expert, you can't fake integrity, and that North Star will make you the leader you need to be to grow and sell.

And the second secret to scaling your business is to focus on your people. Notice I didn't say focus on the money. If you focus on your people, financial success will follow. So take good care of your people, and nurture and develop them.

Your skills span start-ups, sales, strategy, scaling up and leadership development - what sort of businesses/bosses are you most interested in advising?

I am interested in advising people who have the same passion, the same commitment, and the same energy I had when I was growing and ultimately selling my own business. I made more than my fair share of mistakes along the way,and I enjoy working with individuals who have the resilience to pick themself up and brush themselves off when they hit a bump in the road.

Get Started Now

Ask our non-execs: Trenton Moss

Thu, 14 Mar 2024 11:24:31 +0000

Trenton Moss

Trenton - how did you start your journey in the agency world? What were the factors that compelled you to want to have a go for yourself?

I took a few years out after university, travelling and living abroad. I came back to the UK aged 25 and decided I should start a UX agency. It was a bit random!

I had no experience, no money, no office, no clients, no contacts... but a lot of drive and determination to help brands sort out their customers' digital experiences.

It ended up being a 15-year journey, starting with an idea in my head and culminating with us being acquired by another much larger agency.

Running a business can be lonely. How did you reach out for advice when you felt it could be useful?

I leant heavily on members of our leadership team and on our external advisors. We had an advisory board for 10 years with some pretty heavy-hitters in the agency world. I even had the Head of WPP UK on the board! I also went to lots of agency leader events - mostly for a bit of group therapy!

Did you always plan to sell your agency?

It was always there as a pipedream in the back of my mind. What stopped me were the 3 fears:

1. My team have bought into the agency culture and values that I’ve created. Surely they’ll hate me for selling out?

2. I’m unqualified for any other job and I don’t have any ideas for another business. What will I do next?

3. I might start the M&A process and find out that no one wants to buy us. Does that mean I’m stuck here forever?

In the end, it was all fine and I was worrying about nothing!

Building, managing and ultimately exiting an agency requires several different skill-sets?

At every stage of your agency you need to have a vision, hire great people, point them in the right direction and then get out of their way. Doing this requires emotional intelligence, people skills and strategic thinking and you need these throughout your agency journey.

What advice can you share with ambitious marcomms bosses who also seek to grow and sell their businesses?

Don’t listen to all the M&A guys who only seem to care about your having a £500k-1m EBITDA! I sold my agency off the back of our worst year ever - revenue was down by 15% and we made a 10% loss. Potential acquirers are also interested in the value you can bring to their business - and there’s a price they’re willing to pay for that.

That said, we did turn around our revenue decline and clawed back the money we'd lost by the time we sold 9 months later!

Can you elaborate a little on your new role and why you feel it works well for others?

When I was running my agency we launched a client leadership programme internally. It was super-successful and revenue from existing clients increased by 35%. I now run this programme for other agencies as part of my new business, Team Sterka. The programme is all about people skills and emotional intelligence, applied to client situations.

Thank you Trenton .

Get Started Now

Ask our non-execs: Mark Kuhillow

Thu, 07 Mar 2024 11:14:33 +0000

AgencyNXD is launching a new series where we ask our talented team of non-execs a few brief questions about how they got to where they are and what they believe they can offer our growing pool of ambitious agencies.

We kick off with one of our newest non-execs Mark Kuhillow who takes a slightly tongue in cheek approach to answering our questions. Mark sold his performance marketing agency R.O.EYE in 2021 to global group AWIN and is an active investor and non-exec.

Mark - how did you start your journey in the Marcoms world?

I started my journey in the Marcoms world after leaving school without any qualifications. I spent two years selling ad space for Auto Trader, then decided that I would like a broader commercial role. So, I managed to get on Mindshare’s (an operation within global media group WPP) dedicated TV planning and buying graduate training program. Spent a couple of years there and then got headhunted by another global media group, this time Dentsu and its MediaVest operation.

I was recruited specifically to launch the online part of the business because it bizarrely seems that I was going to be their first person in the agency buying online space in the late nineties....and the rest was history!

You worked for and learned from others before deciding to do your own thing. What was or were the factors that compelled you to want to have a go for yourself?

I saw how much money I was making for other people – simply that!

So I asked the managing partners of my last agency if they would give me equity. They looked at me as if I was mental, but they told me they would give me a seat on the Board. After attending my first Board meeting later that month, I resigned the next day and started planning for R.O.EYE immediately.

Running a business can be lonely. How did you reach out for advice when you felt it could be useful?

Well one of the reasons I’m here on AgencyNXD is that I've always been a great fan of consultants and seeking advice from other experienced people. My philosophy and modus operandi are simple - I believe what goes around comes around. If you help others, others will help you and that is pretty much my model.

Did you always plan to sell your agency?

Yup - from the very first day I opened it.

Building, managing and ultimately exiting an agency requires several different skill sets. What advice can you share with ambitious Marcoms bosses who also seek to grow and sell their businesses?

I think the days of running a media and marcoms agency were very different then to what they are now.

These days you simply have to be tech enabled, whether or not you are actually tech enabled or you're a tech agency that offers Marcom services.

I think AI opens the door to be able to be a lot smarter and more efficient than legacy agencies, even ones that only set up just five years ago. I think you start with an equal focus on tech and commerce and then like everything, it's just about building a great team.

You started out in sales and then transferred to media before creating your own performance agency which you sold. Your skills span sales, strategy and scaling up. What sorts of businesses are you most interested in advising through AgencyNXD?

The only advisory work I do and also 50% of my angel investments are in agencies.

I'm very interested in the agencies which do what the old fashioned ones did, which is, well, direct response or brand response. And I'm very interested in how they do it and how they use new platforms such as AI, indeed anything which is not a mainstream social platform or PPC or SEO.

And I'm also very interested in anything that involves creator content and user generated content, in ways which can be monetized and scaled.

And I would say those represent the agencies I'm typically involved with.

Thank you Mark.