Media Logic's 'Open Book' Policy Propels Firm to Third Straight Year of Double-Digit Earnings Growth
Media Logic today announced that the company has recorded its third consecutive year of double-digit earnings growth, which underscores a 23-year run during which the company's gross income has grown by an average of 25% annually. Media Logic attributes the company's success to its 'open book' policy, which promotes openness and sharing across the enterprise that extends beyond financial figures to include resources, skills, tasks and people.
Albany, NY (Vocus/PRWEB ) March 11, 2008 -- Media Logic, a full-service marketing firm headquartered in Albany, NY, today announced that the company recorded its third consecutive year of double-digit earnings growth. This punctuates a 23-year run during which the company's gross income has grown by an average of 25% per year, from just $60,000 to $10.5 million.
Media Logic's president, David Schultz, believes the company's success has resulted in part from a single question he posed to his employees over a decade ago: "How much money do you think we make?" Schultz recalls that the answers to that question were all widely off the mark. Everybody thought the company made a lot more money than it did. If Media Logic's employees did not understand the fundamentals of their own business, Schultz reasoned, how could they understand their clients? It was then that he decided to run Media Logic as an open book business. Little did he know how far-reaching and important this decision would prove to be.
Open Book Sparks Employees' Morale
Sharing financial data united Media Logic's employees and this was just the beginning. Since then, Media Logic has committed to openness and sharing across the enterprise that extends beyond financial figures to include resources, skills, tasks and people.
One Friday morning each month, all employees gather to share success stories, new client information, news and numbers. During these monthly staff meetings, Schultz presents the financial status of the agency, including top line, bottom line and all costs in between.
Schultz realizes that running an open book company does have its down sides, noting, "You cannot gloss over months in which results don't hit expectations." But he was pleased to find that once employees were more connected with the finances of the company, the more they did to affect positive change.
Collaborative Environment Nurtures Creativity
Media Logic's four-year old office reinforces its commitment to being an open book. The agency is equipped with meeting spaces throughout the building, but its main meeting rooms - what the firms calls its DTM (Daily Team Meeting) rooms - are all semi-circular, glass-walled and sit right in the middle of the production studio. The purpose of DTMs is to exchange ideas, spark creativity and allow the entire team to play an enhanced role in the development and execution of marketing solutions that deliver results.
Schultz notes as a result of the firm's open, collaborative environment, team members have all provided lasting contributions to their respective accounts. Their passion, intellect and collaborative spirit have been instrumental in developing marketing solutions that have yielded great client success and played a significant role in the agency's continued growth and achievement in the marketplace.
"Our open book policy and three consecutive years of double-digit earnings growth, on top of a great 23-year run, speaks to the value of low walls, deep integration and transparency that characterize Media Logic," adds Schultz.
About Media Logic
Media Logic is a strategic marketing and communications firm specializing in brand building, revenue generation, marketing planning and integrated communications. Founded in 1984, Media Logic is headquartered in Albany, NY, with a West Coast office in Oakland, CA. With annual capitalized billings in excess of $63 million, the agency provides marketing services in consumer/financial, business-to-business and higher education for a wide range of clients, including Visa, Trans World Entertainment, MVP Health Care/Preferred Care, Weil-McLain, Fortitech, SPX Cooling Technologies, Alloy Polymers, Penn Mutual, SI Group, Hofstra University, the Johnson School at Cornell University and Binghamton University. Media Logic is ranked by Advertising Age as one of the nation's top 250 advertising agencies and by BtoB Magazine as a top business-to-business agency. Visit www.mlinc.com for more information.
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