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News & Views from Alchemis

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Call us for a chat on +44 (0)20 7836 3678 or Email Jim Piper or David Newman

Why a new business strategy is important for a start-up agency

I read Steve Henry’s blog on ‘What does a start-up need?’ with interest.

He raises the question about whether a start up agency needs creatives as well as planners on board; I can see the need for both myself but from my perspective of running a business development agency, I would add that one of the most critical elements in setting up a new agency is ensuring you have a well thought through new business strategy and plan.

Yes, most start ups bring a number of clients based on long standing relationships and yes, you’ll be able to work that network of old client relationships for a few months to help secure those initial accounts, but our experience shows that the little black book and the incoming calls will dry up sooner rather than later and you need to instigate a decent business development program in order to build your business successfully. New business wins from a standing start can take up to 12 months plus to convert and you need to start building the pipeline a long time in advance.

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