#36: From The Richards Group to Independence: Pedro Lerma’s Agency Playbook

Welcome to Agency Business.This week, Pedro Lerma, CEO and founder of LERMA/ joins us on the show.Pedro shares his unconventional career journey—from selling radio spots in Wichita Falls to spending 23 years at The Richards Group, where he built both its digital practice and its Hispanic marketing arm, Richards/Lerma. He explains how that experience laid the foundation for launching LERMA/ as an independent agency in 2021, and how he has scaled it into a purpose-driven shop working with brands like The Home Depot and Salvation Army.He also discusses how LERMA/ approaches multicultural marketing through its “cultural fluency” practice, helping brands grow by leading with underrepresented communities without alienating legacy customers. And he reflects on the challenges and opportunities of running an independent agency at a moment when inclusivity is both politically charged and essential for growth.Plus, News of the Week, with analysis of the headlines impacting agencies today:Dentsu considers divesting its international business, raising questions about what buyers might emerge and whether the company can avoid a prolonged decline.T-Mobile pulls creative in-house while Walgreens reverses course on media in-housing, highlighting the shifting balance between external agencies and internal teams.S4 Capital is reportedly cutting its workforce.Subscribe to the Agency Business newsletter for episode notes and industry analysis. It's free and comes out every Monday.Reach OutAgency Business features agency CEOs and financial decision-makers alongside third party experts including agency pitch consultants. We are always accepting pitches, and are particularly interested in hearing from women and leaders of color.Email us!📩 Brian at [email protected]📩 Olivia at [email protected] Madison and Wall and FusionFront Media on LinkedIn for updates.Explore Our Other Podcasts:📊 The Madison and Wall Podcast – Brian opens up about his latest work — plus crucial economic, financial, and industry trends.🎬 Screen & Sponsor – Olivia & VaynerMedia's Jessie Holder explore how brands are shaping Hollywood.