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Starting an Advertising Agency Business

In: Business and Management

Submitted By Janelalala
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Starting An Advertising Agency BusinessIf you are like the average worker, you have probably entertained the idea of starting your own business at one time or another. Starting your own business should not be taken lightly, but if you have the dedication it can be the best move for you.If you are familiar with the world of advertising agency or are just find you have a way with words and a good rapport with people, starting an advertising agency business may be the perfect move for you. But you will need to plan it with a business plan before you get started.Creating A Detailed Business PlanIt is vital to start planning your advertising agency business by creating a detailed business plan. Take some time, sit down and write up a business plan.Having such a plan is essential to tax planning, business startup and obtaining financial backing for your new business.How Will You Start Your Advertising Agency Business?How you go about starting your new advertising agency business will depend on your current situation. If you already work in the advertising industry, you may be able to start by using the contacts you have already made.Start floating the idea of starting your own advertising agency business with your network of contacts. If you are still working as an employee, you will have to be cautious about this approach.Be sure to use discretion when contacting potential customers for your new advertising agency business. You will also have to be cognizant of any non-disclosure or non-compete clauses you agreed to in your employment contract.After you have left your employee position to start your new advertising agency business, you will have more freedom to go after the customers you will need.If you do not currently work in the advertising field you will have to work a little harder to drive clients to your door. If you have always thought an advertising agency business is the right fit for you, you can be successful even if your background is not in advertising.Many successful advertising agency owners do not have formal training in the advertising field. As with running any other business, hard work, creativity and perseverance will get you far in the advertising agency business.Planning And Research For Your Advertising Agency BusinessYou will want to do lots of research and planning before starting your new advertising agency business. Just as with starting any business, you will need to find a suitable location for your business, hire competent employees and determine any tax ramifications for your business.You may need to take out a small business loan to get your advertising agency business off the ground. Your business plan will help with your planning.The Perfect Location And Hire EmployeesAfter you have scoped out the perfect location and negotiated the terms of the lease or purchase, your next step will be to hire the best employees.You may want to consider hiring some of the colleagues you worked with when you were a mere employee. These are the people you know best after all. You know who the best workers are. You know the strengths and weaknesses of your former colleagues.You may be able to tempt some of the best people away and convince them to take a chance with you. If you are unable to match the current salary of the people you want, you may still be able to convince them to join you.Offer them stock or a stake in the future success of your new advertising agency business. Many people like the excitement of a new business. Many people are willing to work for a lower salary today in exchange for the chance of a big score down the road.Generating Ad BusinessAfter you have the perfect location and the perfect team, you will need to go out and generate business for your new advertising agency business. Talk with local business executives about your ideas for their advertising campaigns.You may want to take some time and gather a portfolio of ideas for some local employers. Try to set up a meeting with the president of the business, or at least a top executive.Review your plans for their business. You may be surprised at how receptive these entrepreneurs are to your ideas and your new advertising agency business.Of course, you should use your established network to generate business as well. If you are familiar with the advertising business, chances are you know which clients may be receptive to looking at a new advertising agency business.Use the knowledge you have acquired over the years to make your advertising agency business the best in town and eventually the best advertising agency business in the country.How To Write A Business Plan… Made EasyPlanning… Planning will help you to keep everything in proper perspective, because without a step by step business plan, there is no way you can keep your business running successfully.The Help You Need With Writing Your Business Plan that is broken down so that anyone can do it.…...

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