📚Book Club - Confessions Of An Advertising Man Part 2
There are better ways to get rich than starting an advertising agency.
It’s Book Club - a weekly post and thread about a book that matters. Let’s do this!
On tap: David Ogilvy’s iconic Confessions of an Advertising Man.
There’s one big theme in this book that is DING DING DING THE DAMNED TRUTH: Running an ad agency is hard. Working with creatives is like herding cats, clients can be difficult and have internal politics of their own, the balance sheets can stink.
If you want to have a business with fat profit margins and make a ton of money, there are easier industries to get into than advertising. Flip real estate. Offer IT support to companies. Accounting. Advertising's something done for passion, not moneymaking.
Ogilvy was writing in the 1960s, Mad Men years--another era. No cable television, no internet, no social media, no freelancer marketplaces, no holding groups, etc. etc. But the basics remain pretty similar. The fact that your graphic designer isn’t hunched over a drafting board all day and that all the animation is being done in a computer program is just ornament.
That's why his advice for running an agency is... pretty evergreen. Keep your eyes on the books, know when to be tough on your team to get results, make sure to treat them well and be protective of their interests, and understand that execs play a crucial role in landing accts.
Central quote: "Creating successful advertising is a craft, part inspiration but mostly know-how and hard work. If you have a modicum of talent, and know which techniques work at the cash register, you will go a long way."
Next week: Finding clients.
Love and coffee,
Neal
About This Newsletter: Neal Ungerleider is a strategic communications consultant working with individuals, agencies and brands. He writes this weekly newsletter about the media communications industrial complex and hopes that you found it of use. Check out his bio, his portfolio, and current projects and interests .
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