With the surge of the digital era and having every product and service being marketed online, the need for digital marketing professionals has been growing steadily. A lot of marketing agency start-ups have emerged, taking advantage of such opportunities. Well, who wouldn’t want running their own company and being your own boss, right?
Contrary to popular belief though, being the big man also has its setbacks. Like every other business for profit, diving into the market on your own has its own pros and cons.
PROS
Potential Income. Possible margin of income for businesses, especially those involving services are already high since they factor in labor and expertise. Adding the possibility of catering to multiple clients at once, these can easily push the potential monetary gains at a higher ceiling.
Personal Satisfaction and Growth. What most people underestimate is the feeling of fulfillment from a successful project and the confidence one gains for overcoming every challenge in between. The feeling of achievement and self-improvement is a win in itself.
Flexibility. The ability to choose the amount of time you invest in your company and the place on which business takes place are very strong points to make you consider going independent. You can have freedom of lifestyle or make the work hours most suitable for you. Setting the workplace as remote also gives you the privilege to work from home, an arrangement that a lot of us find convenient and practical.
CONS
You are on your own. Since you have now become the boss, you are now to figure out every aspect of the business by yourself. I’m not saying that you are a one man team because obviously you will hire people under you but to some extent you need to learn and understand the whole business process.
Handling People. One of the business resources that is most difficult to handle would be manpower. From filtering applicants, to ensuring they do their tasks and meeting deadlines and output targets, these are all achieved only by properly managing your team and that is a whole separate set of skills from just being good in marketing.
Demanding physically and mentally. While we mentioned flexibility in time invested, time committed can also be an issue. Since you assume the most responsibility, there will be times when you would need to devote more time than what your paid employees do. As time passes whether you become a success or not, stress build-up may cause health concerns.
Something that we can consider both a pro and a con is that your agency’s success relies heavily on YOU. Risks involved can yield the worst outcome or the best rewards.
After weighing the positives and negatives, it might still be intimidating to start an agency on your own. Luckily, there are companies like vishwasthakkar.com that conduct training sessions to guide you. Headed by Vishwas Thakkar, a digital marketing strategist in Hong Kong, they boast years of experience in the field. You can learn the trends first and study how marketing agencies currently work so you can arrive at a better conclusion.