MarketingProfs' Members Register for B2B Forum 2010 for just $695! (good until 11/30) »

Ask your question ... sign up today! It's FREE!
Career/Training     
 
This question has been closed, and points have been awarded.
Steps In Starting A Marketing Firm
Posted By: WUBUGSY* on 12/27/2004 8:26 PM (CST) 125 Points
I KNOW HOW TO WRITE A BUSINESS PLAN, AND CURRENTLY PURSUING A B.S. IN MARKETING AND ADVERTISING MGMT.

NOW WHAT OTHER CRUCIAL STEPS R INVOLVED IN STARTING A MRKTNG FIRM. HOW TO GET CLIENTS, WORK PACE... WHAT KIND OF CLIENTS TO TARGET @ FIRST ANT WHAT HAVE U? :)

Posted by: Peter (henna gaijin) Member Response
12/27/2004 9:14 PM (CST)
This is a huge question. And I suspect we can't provide any detailed response without knowing a lot more about you, your background, the business you are planning to start, etc.

In truth, many of the things you are asking (crucial steps, how to get clients, etc.) will all become apparent to you as you fill in the various parts of your business plan. One of the main benefits in my mind to writing a business plan is that it makes one think about all the various areas of the business, and in doing so, you will likely find there are many areas of the business plan which you don't have full answers for.
 
Posted by: Sanjeev Kumar Vyas Member Response
12/27/2004 10:37 PM (CST)
I agree with Peter besides this question has been answeredearlier please read the previous questions I think that will help you.
And by the way writing in Caps over internet is like shouting, and I am sure you did'nt mean that. ;)
Happy Holidays,
Wish you all the best for your new business and wish you a happy new year.
Regards.
Sanjeev
 
Posted by: prbypr Accepted Answer
12/28/2004 1:15 AM (CST)
Starting a marketing firm is very much like running any other business. You need to set up financial and accounting systems, obtain licenses and employer IDs, set up recruiting and human resources, develop new biz and marketing strategies, etc. Check out any good book on starting a business for more information.

Of course, executing is going to be more of a challenge than "starting" the business itself. Marketing is highly consultative -- and in many cases, clients depend on you and your firm for valuable advice. Very few companies are going to trust someone right out of college with the financial health of their business. So taking the time to work in the industry and learn all you can will be important.

Once you've mastered your craft, deciding on your company's model and target clients will be much easier. You'll know what makes sense for you, your company, etc.

Good Luck!
 
Posted by: michaldover* Accepted Answer
12/28/2004 9:24 AM (CST)
I think one of the most important aspects in starting any type of business (and it should be in your business plan) is finding out what your competitive advantage is as a marketing professional - what can you offer (or could offer) that your competitors can't offer? From your competitive advantage you move to your target market. Which specific market niche will benefit from your competitive advantage? This is in the marketing aspect. Finding customers is the number one activity you should focus on. All the other activities are important but without customers nothing can be reached.
Let me also suggest a time schedule. Since starting a business is very demanding and sometimes you can't see from all the things that need to be done, I would write down a weekly schedule and dedicate each part of each day to different aspects of your business. For example every day from 7:30-9:30 - you will take care of the legal requirements of the business from 9:30-2:30 - you will focus all your efforts on marketing, checking local listings , e-mails, marketing materials etc. From 2:30 - 4:30 deal with administrative aspects - purchasing, clerical work. From 4:30-6:30 deal with financials - setting up financial systems and then following up. From 6:30-8:30 studies (you’re still studying right?). You can dedicate more time to one thing and less to another but having a schedule really helps in stressful situations.
GOOD LUCK
Michal
 
Posted by: Peter (henna gaijin) Member Response
12/28/2004 1:42 PM (CST)
If you are located in the States, you may want to look into a book called "The Small Business Start Up Kit" by Peri Pakroo. I read it when I was starting a company, and found it to be immensely useful.
 
Posted by: bob* Member Response
1/22/2005 7:20 PM (CST)
Starting a marketing company means that you have insight and are very creative.

Make sure you have a good plan with an eye toward originality. In order to be sucessful in the marketing business you need something "different" What is your thing?

When I started my marketing company, my things was "timing" I called it "sychrographics" The ability to find "when" it's likely that someone would purchase certain products and services.

Remember, have something "different" to offer, and you will land lots of interesting new clients.

Wishing you the best of success
b_perlsteinb
 
Posted by: mgoodman Accepted Answer
1/22/2005 8:22 PM (CST)
Get a copy of Rasputin For Hire : An inside look at management consulting between jobs or as a second career. It has a lot of stuff in it about starting a consulting practice (or a marketing firm).

If you'll go to the website www.rasputinforhire.com , there's also a light-hearted self-assessment that will go through the prerequisites for becoming a successful consultant, as identified by more than a dozen people who have been there/done that. Most of them were marketing consultants, too.

The book also has an appendix with the [edited] transcript of a round-table discussion with 8 of the consultants who contributed to the book. Reading that will help you get the flavor of what you're getting into.

Good luck. You're in for a great ride!
 
Posted by: Val (Moderator)* Moderator Response
1/26/2005 8:11 PM (CST)
Hello all. I am closing this question, since its more than two weeks old. We do this to make sure members' contributions are rewarded in a timely manner and to improve the visibility of newer questions.

Thanks, so much, for participating!
Val (Moderator)
 


Get more answers ... ReTweet this!

Would you like to post a response?
Welcome to Know-How Exchange!
This is a collaborative community. We welcome everyone's participation.
All you need to do is login. Enter your account info in the box above (top right).
Not a member? Not a problem. Register here (it's FREE and EASY).




Know-How Exchange powered by MarketingProfs


Sponsored Links

Buy a Link Now

Just Released ... Download Today!
Just Released ... Download Today!
Look inside
Included with Premium Membership
User Name:
Password:
Remember Me
Forgot your password?

Top 25 KHE Experts
(Career/Training)
Paul Copcutt (12257)
mgoodman (11958)
Peter (henna gaijin) (7964)
Jay Hamilton-Roth (7400)
Frank Hurtte (6234)
telemoxie (4778)
mbarber (4491)
NoStressXpress (3909)
stevea (3346)
michael (3017)
Puru Gupta (2976)
DeBrady (2590)
Gary Bloomer (2538)
Deremiah *CPE (2179)
thinkmor (2116)
K Sieczka (1906)
W.M.M.A. (1892)
SRyan ;] (1689)
Levon (1599)
wnelson (1489)
Michele (1477)
darcy.moen (1469)
SteveByrneBranding (1441)
ASVP/ChrisB (1428)
Sanjeev Kumar Vyas (1368)
Recently Posted Marketing Jobs
Director of Marketing and Communications
Demand Generation Manager
Marketing/Advertising Faculty
Director of Marketing
Market Analyst
Sr. Field Marketing Manager - Business Intell.
Associate Vice President of Marketing and Corporat
Marketing Manager
[more jobs]

Join over 355,000 members ... SIGN UP!

My email address is and I'd like my password to be .

Already a member? Sign In!

My email address is , and my password is .


HACKER SAFE certified sites prevent over 99.9% of hacker crime.