Calling all media entrepreneurs.
There has never been a better time to launch a new media offering.
Nor has there been a harder time in which to do it.
Goodstuff launches The £1M Startstuff Fund.
How often do you think you could do it better?
How often do you think there is a gap in the market, but don’t follow it through?
How often do you think you could be the next PHD, MG OMD, Naked or Goodstuff?
How often do you wish there was someone that could help you?
As the media agency helped on its way by Virgin and Omnicom in 2004, we’re going to return the favour by helping the next generation of media entrepreneurs by providing up to £1M in finance and support to kick-start their own modern agency offering.
Transparency, technology and the returning need for strategic objectivity and operational agility is creating the opportunity for new agency models and media services to emerge.
In recent times we’ve seen different agency models appearing – big and small. The merger of MEC & Maxus, M2M, Rocket into Hearts & Science, the growth of Essence, Accenture launching a programmatic division, Bountiful Cow, Craft, Above & Beyond launching Yonder,Wax/On, along with Goodstuff’s Agency of the Year accolade is evidence the need for new, nimbler client centric models.
So, if you think you could make a go of running your own agency, here’s what you need to know.
1. What are we looking for?
We are looking to find and finance the next new model agency or agencies (no more than two) that is client focused, modern and unique. What that is, is up to you, the entrepreneur.
As examples, the agency model could be performance led, digital led, creative media led, technology led, category led, channel led, audience led, client in-house led or it could be based on a different employee model. Whatever the idea, we’re keen to hear it.
The individual/s we hope to meet will be dynamic, honest, ambitious, hard-working and have a clear idea about a new, better and different way. But overall, and as we say at Goodstuff, they will be “goodeggs”. No corporate work-shy types need apply.
2. What are we offering?
We will offer the new agency owners three areas of assistance worth up to £1M over the first two years of their business. How this is realised depends on how many submissions we get and the kind of support each agency business is looking for. The below represents the areas where they could realise that support:
2.1 Service & Systems support (£700,000)
We can help in all areas of core agency capability from office space, financial management, accreditation, media buying, data, digital and social strategy, creative solutions through to senior management time from the Partners and Co-Founders.
2.2 Financial support (£300,000)
Leaving a cushy job with no guarantee of income is a big risk, we understand that. So, we will make finance available towards salaries subject to final equity position and business plan. To be clear, this is £150,000 max per agency and up to two agencies. No one individual will be paid six figures.
2.3 Client Support
In the past 12 months, Goodstuff has turned down over £100m worth of potential billings and therefore are confident of being able to refer business to our new partners in addition to the £1M value above.
3. What do we expect in return?
A majority shareholding, a great idea, a commitment to upholding Goodstuff core brand values and a total commitment to giving the venture their all.
4. What happens next?
Interested individuals and teams should get together and plot their jump into agency ownership and then get in touch with Andrew Stephens or Ben Hayes in strict confidence to arrange an initial conversation between now and August 31st.
Before our meeting, we will issue an NDA which we will mutually sign and we will meet you offsite at a place of your choosing. Grand Cayman scores extra points.
At our meeting, we would want you to talk through the following areas:
- What is the idea and what will your offering provide clients?
- How is this better and different to what else is on the market?
- Who would be your nearest competitors and why?
- Why are you best placed to run it?
- How will the idea complement Goodstuff’s existing offering and values?
- What major hurdles are there to making it happen?
Further to our meeting, if we decide we want to progress conversations we will ask you to prepare a fuller proposal of your proposition and why we should back you.
We would hope to be able to launch at least one new agency in time for January 2019.
For more information and to arrange a confidential chat, please contact:
Andrew Stephens, firstname.lastname@example.org, 07914 044342, or,
Ben Hayes, email@example.com, 07747 036449