Management classes will help teach you the specifics of running a business. Accounting or finance classes will help you make sense of your financial records and manage your books. It may also allow you to forgo hiring an accountant to manage your finances, which will be a big savings for you. Graphic design classes can help you create visual advertisements. Otherwise, you’ll have to hire a designer if you want to do picture ads, which will be a significant expense.
A description of your business. Investors and banks will want to know what exactly your business does and what kind of service it offers. Be specific when explaining your methods for advertising. There are a lot of advertising agencies, so people may be cautious to invest unless you convince them that your business will offer a service that other firms don’t. A projection for the profitability of your firm. Investors will want to know that they will profit from your business. You may want to consider using an accountant to help you come up with a short and long-term outlook for your earnings to ensure it is as accurate as possible. A full breakdown of your costs. Investors and banks will want to see what you’ll be putting their money towards. Include all of the costs you have incurred, as well as the costs you anticipate incurring as you build the firm. Remember to include an estimate of your day-to-day operating expenses as well- it may take a few months to turn a profit from your business, so make sure you’ll have the necessary capital to stay open.
Banks. You can get a loan from a bank for a few months to a few years, depending on the type of loan. This can cover your opening costs and your first few months of operating expenses. Private investors. These can be friends, family, or other business owners interested in making an investment. Make sure you define whether these people are just providing a loan that you will pay back with interest, or if they’re actually buying into your company. It would be helpful to draw up a contract defining the terms of your agreement and having it notarized to prevent problems in the future.
If you’re entirely new to advertising, you might want to consider working as an employee for a while first. This will give you crucial experience and credentials that you can put into your portfolio when you start your business.
Include your contact information and anything your potential clients will need to know about setting up a meeting. Also include links to any articles or ad campaigns you’ve worked on. Think of it as a digital portfolio. Keep your website updated. An outdated site looks unprofessional and will make your business look unreliable. While it’s expensive, you may want to hire a professional to build your site. A cheaply-designed website is easy to spot and could turn off potential clients. It is well worth the investment to get a professionally-designed website if it attracts clients.
A copy editor. This is essential if you will be releasing text ads or articles. You want all the writing your firm produces to be top-quality, so a great copy editor is an asset to your company. A graphic designer. If you want to offer picture or design ads, you’ll need a graphic designer on your team. They can create colorful, eye-catching ads that your clients will look for. An IT specialist. A lot of your work will probably be done on computers, so consider hiring an IT expert to set up your computers and maintain them properly.
Small businesses rarely attract attention from agencies because they usually don’t spend a lot on ads. This means there is also a potential market for advertising with small businesses, so don’t neglect them when looking for clients. You’ll have to keep your rates fairly low to do this, however. [5] X Research source
When meeting with your contacts, perhaps treat them to lunch or coffee. Bring your portfolio and be prepared to talk about why your agency will do a good job. Remember, even if these are your friends, you’re relying on them to refer your agency to clients. Making a good impression is your number one priority.
Sometimes conferences look for speakers or presenters. You should try to present at conferences as well, instead of just attending. This will give you more publicity and ensure that more potential clients will see you and hear you speak.
