A Quote by Steve Stoute
I've started to believe that the agency business is a great ingredient of a much bigger business - more than just what typical advertising agencies have done.
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Advertising is much less powerful than advertisers and critics of advertising claim, and advertising agencies are stabbing in the dark much more than they are practicing precision microsurgery on the public consciousness.
There is a great deal of advertising that is much better than the product. When that happens, all that the good advertising will do is put you out of business faster.
The advertising marketplace is moving rapidly into digital videos. We know that by 2018 it is estimated that it will be a $12.2 billion business. We've been seeing the agencies combine their digital video spend with television spend and put it under one spend and just calling it "video." The pool of money is becoming much bigger. The comparisons between television and digital video are being made much more often because you can account for who's watching, you can't fast-forward through the commercials. There's a much more intimate relationship with someone watching digital video.
We knew when we started the Daily Muse, we wanted a recruiting-focused business model rather than an advertising-focused one. We felt like publishers were being forced to go to more and more extreme lengths to monetize through advertising.
At the end of every day, having a clientele that speaks well of you, that's the largest source of business. I don't care what kind of business you're in. Clients referring us to their friends or relatives is so much more powerful than any advertising we could ever do.
Advertising is a business within a business and the man who neglects it will soon find himself with a business without a business.
In business, integrity is just as important as in any of the great public offices... but I believe one of the first and fundamental obligations of competent business leadership is above all to protect the reputation and integrity of the business - to that degree the integrity of the business is the integrity of the leader.
I believe that business shouldn't be done in the public's eye anyway. And I believe that business shouldn't be handled in the magazines anyway. Business should be handled in the room amongst the people you're doing business with.
There's much more money being brought into the advertising and communications business than in the music industry.
My model for business is The Beatles. They were four guys who kept each other kind of negative tendencies in check. They balanced each other and the total was greater than the sum of the parts. That's how I see business: great things in business are never done by one person, they're done by a team of people.
Advertising holding companies used to boast about their share of the advertising market. Now they are proud of how much of their business is not in advertising.
That's the power of great insights. Insights, not ideas. There's a difference. Ideas, valuable though they may be, are a dime a dozen in business. Insight is much rarer -- and therefore more precious. In the advertising business, a good idea can inspire a great commercial. But a good insight can fuel a thousand ideas, a thousand commercials.
I initially wanted to work in the music industry more on the A&R side. While I was in school, I began working in the New Business department of an advertising firm, and very quickly I was responsible for roughly 70% of their business, so you could say I had a natural knack for the advertising world.
A lot of people have done that over the years. Many of the agencies today were started by photographers. It's a normal progression. It wasn't some crazy idea, it was just, "Can we start our own agency? Can we do this?"
I came into the advertising business in 1952, at the age of sixteen, as a delivery boy for a stuffy, old-line advertising agency named Ruthruff and Ryan, which could have served as the setting for the 'Mad Men' television series without moving a desk.
In the short walk between his aeroplane and reaching the outside world at Heathrow, Michael Bywater encountered no fewer than 93 separate notices telling him off for things he hadn't done or which hadn't even occurred to him to do. Being bossed and patronised are two sensations that most sophisticated adults would sooner do without and yet we are bossed and patronised, by the media, by politicians, by business, by advertising agencies and the public services, more now than at any other time in our history. Why should this be?
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