Starting an Advertising Agency Key Terms
When starting an advertising agency, key terms help you focus on successStarting an advertising agency can be a daunting task. There are employees to hire, a business to name, clients to acquire, an office to set up and financing to set up, to name just a few tasks the average entrepreneur must face. For the average person starting an advertising agency, there are many choices to make, and these key terms can help focus your energies.
Company structure filingFiling a company structure involves deciding whether your company will be an LLC, a Sub Chapter S Corporation or another type of business. This type of filing -- usually done with the help of an attorney -- can help limit your liability in the event that your new business encounters legal problems.
EzinesEzines are electronic magazines. These publications are very cost-effective to start and many new advertising agencies establish ezines in order to have ad space to sell and have forums where they can promote clients' ads.
Multi-level marketing (MLM)Multi-level marketing (MLM) is a form of advertising where employees are trained to sell products for commission. Due to the inexpensive nature of this advertising model, some new advertising companies begin by offering MLM programs.
Advertising agency employeesAt the beginning, you may be the only person working at your agency, so you will need to learn how to complete the various jobs. As your company becomes successful, you may need to hire advertising agency employees who will take care of the financial, creative, and administrative tasks.
Advertising agency business planBefore you begin your ad agency, you will need a business plan, which is a document that details your ideas for your company, including information about expenses, expected income and location of your business. You will need your business plan to apply for financing, to set professional goals, and to communicate with potential business partners or investors.
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