Running a creative agency definitely has its perks. Who wouldn’t want to manage (or work for) a place that’s known for its free flow of creative ideas, free food and drinks, and culture of work parties? But before you jump right into starting up a creative agency, it’s important to know both the ups and downs of running one. Being equipped with this knowledge of the good and bad will allow you to make a much more informed decision as to whether or not it is the right decision and career path for you. The following are the upsides and downsides of managing a small business in the creative industry. The Upside to Managing a Creative Agency Culture / Social Environment Building a social culture is what agencies are all about. Creative agencies are notorious for allowing staff to build long-lasting, strong friendships with colleagues through engaging activities. Whether it’s getting employees together for a happy hour or organizing a competitive go-kart race—the social environment of an agency definitely has its perks. Wear Multiple Hats Working for a creative agency usually means you’re managing numerous projects on-the-go: from web development to design and social media strategy. Because agencies—particularly those just starting out—are smaller, owners and their staff often wear multiple hats to push the business operations forward. This isn’t a bad thing though. Wearing multiple hats tends to lend itself to a fantastic learning opportunity, where brilliant ideas and creative minds are formed. Work Hard, Play Hard Despite long hours in the office, a work hard/play hard mentality is typically characterized by an agency. No matter how busy it can get, creatives know how to have fun—and definitely won’t waste an opportunity like drinking beer or hosting an after-work party to celebrate achievements. The Downside to Managing a Creative Agency Lost in Translation As we said earlier, creative agencies move at a rapid pace and often balance numerous projects simultaneously. Due to large numbers of projects on-the-go, it’s easy for both the account managers and the creatives to get lost in translation. The role of the account manager is to properly communicate the needs of the client to the creative. While easier said than done, account managers and creatives must follow a rigorous project management approach when managing projects to deliver on time and within budget. Tools such as Asana and Trello are great tools to smooth out any communications regarding tasks that get lost in translation. Additionally, Slack is another tool that combines communication and tools in one app, so that in-person and remote teams can stay connected to work on creative projects. Spend Time on Less Glamorous Projects Clients come first. This is a known fact, but it can become much more engrained when running a creative agency. Often creatives have a perfect project in mind. However, too often clients may not want those services. As an owner, it’s your job to satisfy the client’s needs first, before considering pushing the idea of the “ideal project” forward next time a chance comes up. Being Creative Under Pressure Getting into the creative zone can be difficult as it is. Designers, content creators, and writers all understand this—it’s far too easy to get into a “rut.” In an agency, the pressure of multiple deadlines can make it overwhelming for creatives to work creatively under pressure. Challenges with Managing Finances As with running any type of small business, managing books can be a complex task—especially when combined with the day-to-day activities of running a creative agency. Creatives can benefit from adopting accounting software to help them manage their books accurately (and to save time). For example, software nowadays incorporates machine learning to learn your creative business, such as recurring transactions, suppliers, and even conduct reconciliation for you through the use of optical character recognition (OCR). Particularly in weeks where deadlines are heavy, accounting software can truly simplify the day-to-day and provide creatives with one less thing to think about. Are all the upsides worth the risk? Managing a creative agency or any kind of small business in the creative industry definitely has its benefits and challenges. As a business owner, think about what work environments you thrive in and which ones make you lose motivation. If hustling through multiple projects to exercise creativity while satisfying client expectations is where you truly thrive, then starting up a creative agency might just be for you. Luckily, there are an array of tools and technologies available today to help you improve communications, manage business files, streamline operations, and save time.
