Starting up an advertising agency?

For me my ultimate goal is to eventually set up my own agnecy. As a student its still early days, but you need to start somewhere. Those of you who are experienced in this field, what exactly does it involve?

What can i start doing now to begin the process?  

work at other places first and learn what they do right...and wrong...and apply that to your plans...

get some serious contacts and build strong networks amongst clients as well as co-workers :)

Esme Burford:

For me my ultimate goal is to eventually set up my own agnecy. As a student its still early days, but you need to start somewhere. Those of you who are experienced in this field, what exactly does it involve?

What can i start doing now to begin the process?  

 

Work happily & learn open-mindedly

Understand the business & processes, then set about re-engineering, improving & revolutionising it in your own unique way

Be unique

 

 I am sure Jeremy Bullmore has written wise words on this subject.

The difficult part is finding the right partners with similar ambitions.

Founding clients shape new agencies as much as the partners vision

Will, determination and ehtusiasm wins.

Good luck and forewarned is forearmed - as I was told by Dan Widen of W&K - at one point you will get burnt, everyone does, it comes with running a business and learning how business work, you just have to get over it
 

For starters its hard enough to get into an ad agency for work experience, never mind a full time job, or even starting up your own. Networking and a list of contacts that you keep in touch with is most important, aswell as you having years of experience in my eyes.

Check out www.creativeorchestra.com, a new model agency launching soon. They take the best of young creative talent and market that talent worldwide whilst developing it. One thing they also do is teach their creatives how to set up in business because in the new world that’s how it’s going to be – small communities of creatives setting up creative shops (like in design). A new Mother maybe?

Thanks for the plug Max. Having set up a few agencies and grown a few more, the tips I'd give people on setting up an agency 2 years ago are very different from today. The rules have changed with a mixture of recession and a changing industry. Getting the right partners is still key though, you have to be passionate and share the same values. The problem with many agencies is the values of the partners are different, one wants to do great work, another understand the consumer and the third wants to make a quick buck. Good business makes money but from values. If you set out to just make money you’ll go broke. Do something bloody well and stay firm to your values and quality. I think industry doesn’t need another conventional agency, what clients are looking for are new ideas, a new breed of creative agency with a commercial mindset, well that’s what our survey revealed. Clients are also less concerned with big names. What the industry needs to do is cultivate talent for the future if it wants a future.

You'll need money. But don't take it from the industry, you'll get screwed. Seek investment from angels or even a loan. You’ll need good partners, ones that you know and trust. You’ll need to stand for something, there are too many average agencies out there. Be different. Very different. But have values and an ethos like HHCL, Saatchi’s, BBH did. Don’t follow the rules, write new ones. AKQA (so I’m told) was started by two guys who had never worked in an agency, now they are one of the most successful. Be very flexible, open minded, smart and creative, Employ less account handlers (less fat) like Mother. Respect and invest in your staff, more than the customer, they are your only real asset, like AMV. Don’t expect people to support you until you’ve prove yourself. Most people are cowards and sit on the fence until you make it. Just do it. With passion.

I don't like that word, Maxie, the one you used in your last post. That word that had me clenching my fists and turning my knuckles white. The one that contravenes the law now in this country. It's that putrid word, that odious word, the word which every *** and drug dealer panders to. It's YOUNG. " They take the best YOUNG talent and market that talent worldwide".

What about marketing old serious talent that doesn't need any lessons about what day of the week it is? New World. Young. Small communities. Setting up even smaller creative shops. Bollocks.

Communication is what you will need to focus on in all its forums. The biggest joke within the communications industry is the failure to communicate with one another inside the communications industry!

Communicate with: your peers, your co-workers and your clients. Find out what makes them tick, what ticks their boxes and what their wants and needs are. You'll be wanting to fulfill these needs if you are to succeed.

As stated above, know your market and know what you'll be doing differently than those agencies that are currently out there. What will your focus be on? Digital? Integrated? Traditional? Or will you be the first agency to fire on all these cylinders without batting an eyelid offering solutions to clients no matter what they come at you with?

The first big steps you can take right now is to understand how business works. Read books from business people like the faces on Dragon's Den. It will give you a solid understanding of what the business world is all about. You'll get valuable tips on things that "Max" has mentioned- Angels/Loans/Finance plus a wealth of other factors that will be oh so important in setting up your new venture. Know your market, know your numbers and know YOUR BUSINESS!

Creativity will play a massive role in the agency you set up as all agencies have one thing that unites them, namely ideas. Ideas are the commodity of the future. They always have been and always will be. Without ideas, problems don't get solved and solutions don't get found. If finding ideas is not your strong point, then hire people who compliment your weaknesses!

Start your career as you are and on the back burner keep your idea of starting an agency very much alive. Find the information you desire in your spare time. Ideas are easy to think of, it's executing those ideas that take hard earned effort and perseverance to see them become a reality.

Good luck Esme