Ten things I’ve learnt in the ten years since I started an agency

Build new strengths 

The personal strengths that helped me start a business (the hustle, being a jack-of-all-trades, making fast decisions and dictating what I think needs to be done) haven’t been what’s needed to sustain and grow it. As Poem’s developed, I’ve had to let go of doing things myself, learn to empower others who are better at what they do than me and find satisfaction in seeing what the agency does, not what I do personally. It’s been a tough lesson, which I still get wrong. 

A start-up is not just for Christmas 

Leaving your stable day job to start an agency (or your own business of any kind) is a huge leap of faith, but it’s also exciting and fun and, if it works out, it could be the best thing you ever do both personally and financially. That said, there’s also a chance it could fail…which will hurt, but at least you’ll have learnt a lot along the way. What people don’t tell you, however, is how much fricking energy, patience and personal investment it takes to keep it going after the first six months. The rollercoaster is relentless and you’re in it for the long term. At least puppies grow older and stop peeing on the floor. 

Grow strong fingernails 

On exactly this subject, a wise man (Chris Savage) once told me that the most successful agencies are the ones that can cling on by their fingernails for the longest. At the time, in my quixotic naivety, I thought that sounded cynical. But I was wrong and, as with many things, he’s right. Resilience isn’t everything, but it’s super important. It doesn’t matter how good you or your company is, you will go through times of strife; it’s part of growing up. So you have to make the most of the opportunities when you have them and hold on tight when things get tough – the rollercoaster doesn’t stop, but it gets less scary. 

Choose: the rocket ship or the cruise liner 

David, our accountant, explained that there are two types of business; the rocket ship and the cruise liner. Rocket ships are built to break orbit and go new places no human has gone before. They’re more exciting, but they’re harder to build, harder to maintain and potentially harder to make a profit on. cruise liners, however, cater for all tastes and travel to over-priced tourist destinations. They’re generally unexciting (dependent on your expectations), but you know what you’re going to get, they’re easier to run and usually more profitable. Poem is and always has been a rocket ship. That’s been a career choice from the start. Personally, it’s what excites me and I believe you need to stand out for long-term success, but there’s easier, less stressful (and potentially more stable) choices.