Question

Topic: Advertising/PR

Is There A Formula For Success When Two Creatives Merge?

Posted by Anonymous on 6/29/2004 at 9:10 PM ET 150 Points
Is there a rule-of-thumb formula that allows potential business partners to "suck it and see" for a few months before making a formal commitment?

We're two very experienced sole practitioner strategic creatives who've collaborated on several small to medium advertising/design and branding projects over the past two years. We're very interested in joining forces to pursue much more rewarding work. Before we formalise a partnership with all the attached legal expense, how do we put a workable temporary agreement in place that both protects existing client relationships and rewards the individuals for profits on new business? There are new business opportunities all around us and we really want to move quickly.
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RESPONSES

  • Posted by SteveByrneMarketing on 6/29/2004 at 9:28 PM Member
    Formula is 2=1+1

    Saying is “a house divided cannot stand”

    Seriously, in human terms the formula is…
    - Listen first, then opine
    - The big C is communication (put it writing if needed, even if it’s just to remind each of you later)
    - Formalize with outs (you must make a commitment, but provide for if it doesn’t work out)
    - Do a SWOT on the partnership, make sure you’re doing it for right reasons

    Just some thoughts, hope it helps
  • Posted by telemoxie on 6/30/2004 at 1:35 PM Accepted
    You have three organizations: the two existing ones, and one new joint venture.

    One approach would be to outsource the prospecting and promotional work for the joint venture. For now, you keep your clients, you keep your business, so does your potential partner. But you brand the new joint venture, work with your outsourced vendor to develop a list of companies that neither of you is currently selling to, and split the cost 50/50 to look for new business for both of you.

    This not only gives you a way to see how well you work on joint opportunities, it also gives you a way to indepently assess the market's reaction to your new brand.

    MOST IMPORTANT: continue your own business development activities. If you become dependent on the joint venture and the other company for future revenues, you will be entering negotiations in a weakened position.

    p.s. I have over ten years experience calling marketing communications managers and VPs of marketing to promote similar companies, I'd love a shot at the work.
  • Posted by telemoxie on 7/10/2004 at 3:13 PM Member
    Is it realistic to believe that you can share profits and workloads in an equitable fashion? Is it just wishful thinking to expect that you will be "equal in everything" ?

    To get more "insights" on that topic, I've posted the following question:
    https://www.marketingprofs.com/ea/qst_question.asp?qstID=2212
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