Question

Topic: Career/Training

Starting A Marketing Company

Posted by Anonymous on 6/8/2007 at 7:13 PM ET 125 Points
Call it a 1/4 life crisis. I am seriously considering starting a marketing company at age 37 and I have no formal marketing degree. I am a project manager with a science background. For years and years people have told me I should be in a different line of business as I am not using my creative skill sets. Be it organizing company social events or presenting the latest company benefits I always get elected by my co-workers as I have a flare of creativity and humour in all I do. So to my question...the basics. Besides the putting together a business plan I have no idea what to do next. How much should I be charging a company to come up with a radio/TV ad? Do I need special licenses to use music in my ads? What if I change the lyrics of a popular song to market a product? I have a number of ideas that I would like to present, problem is; then what? The presentations I am ready for, it's the questions I am not. When I'm asked how much I don't have a clue where I should come in.

All the advice I can get on getting started and your thoughts on my situation would be greatly appreciated.

p.s. First time to the forum - be gentle.

Don

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RESPONSES

  • Posted by Frank Hurtte on 6/8/2007 at 7:20 PM Member
    dont quit your day job quite yet...

    I am an engineer turned salesperson, turned marketeer, turned freelancer.

    Here are the questions you need to answer.
    1) who will your customers be
    2) how will you meet them
    3) why would they choose you, say compared to the person they are using now. If they are not using anyone now, why would they start using someone - you
    4) how much money do you need to make. Is this a hobby business or a livelyhood

    Now- if you have your first client lined up and maybe you are doing some work for them already. Who will be your second, etc.

    Get these questions lined out, then jump on in the water's fine. If you would like to talk more, call me via my profile. I do business coaching and i would give you a free session.

    Frank Hurtte
  • Posted by Harry Hallman on 6/9/2007 at 6:46 AM Member
    I would find a small agency and buy into it. That way you can learn from someone who is in the field and experienced. There are planty of marketin g firms that could use a cash infusion. That should tell you something.

    You can also get educated via various courses and publications. Do yourself a favor and do that before you give up science.
  • Posted by ilan on 6/10/2007 at 2:22 PM Member
    Partner with someone who knows more than you, and who thinks you are the next best thing after landing on the moon...
    Clarify to yourself if you want to ba a marketing firm or an ad agency, a branding consultant or event planner. Seels like you are dreaming about all these things.
    Many other people with great creative talents and a brilliant sense of humor didn't go to the cut throat business of marketing, but went on to write amazing programs for TV...
    Think carefully and learn as much as you can about the crazy business of marketing before you leap.
    And don't pay attention to me, go for your dream!
  • Posted by telemoxie on 6/11/2007 at 11:59 AM Member
    I wholeheartedly agree with Harry. If your situation is OK at your current job, you should NOT quit your day job, until and unless you have a business plan and an absolute minimum of 6 months money in the bank (2 years preferred).

    Could you take on work as a Moonlighter, in addition to your current job? (Careful, many companies do not allow this). If so, there are 100 or more marketing consultants who frequent this forum, myself included, who need help from qualified, enthusiastic, competent individuals.

    What is it that you bring to the table - what is it that you know how to do TODAY, without lots of direction from me... what skills and abilities do you have which could help me provide better service to my clients?

    p.s. There are sources of "royalty free" music out there... contact me directly if you need more info.
  • Posted on 6/15/2007 at 8:36 PM Author
    Thanks for all your advise. I'll take it into consideration and keep you posted.

    Take care,

    Don
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