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Tread carefully in Jekyll and Hyde world... Profiting from sanity in a world of vani... Flick the on switch with the right softw... Investors shy away from offshore option... UNIT TRUSTS:Guardbank Stability Fun... Share certificates as we know them may ... Buy a home at 5% interest? Anything's po... Mistresses of big business explain how t... Invest in variety to supplement your inc... |
Profiting from sanity in a world of vanity
A"JUST do it" attitude, no capital and only one client is how Mike Frampton started his advertising agency. "I tried to get backing from the banks, but they tend to view advertising agencies as a high risk," says Frampton. But he overcame the hurdles and just six years later is predicting billings of R66-million for the current financial year, and planning a listing on the Johannesburg Stock Exchange in the near future. The agency has achieved incredible growth of 150% a year since inception. Frampton puts the success down to two main factors: the company's philosophy of always treating a client's business "as if it were our own" and ploughing all profits back into the business. He cautions other entrepreneurs to remember that "turnover is vanity, profit sanity and cash reality". Companies often fail by relying on tomorrow's money today, he says. Frampton believes many people have the potential to be entrepreneurs but don't do anything with their ideas. "The first person to have a good idea has an advantage, but the first person to implement it wins." The agency centres on key departments, each working independently but together. "We are not an asset-based business in the classic sense as we believe that our assets are our people," he says. He believes any new business which can supply a high level of service skills is guaranteed success. To keep track of client satisfaction, the company runs an annual client audit from which valuable feedback is obtained. It then adapts its attitudes and methodologies to the response. Clients include Alfa, Eskom, Stocks & Stocks, SA Druggists and Sandton Square. Framptons has invested over R1-million in computerisation and digital imaging technology so that the agency can "take care of in-house scanning, reproduction and proofing with quick turnaround times". "Our entire management system is linked to the Internet, providing both our clients and the agency with access to an invaluable source of global data. It also provides the agency with access to international associates and clients." Framptons, which was founded as a design company, has developed into a full-service agency which supplies advertising, sponsorship and marketing services. Under the umbrella of Framptons Holdings falls the Chalkham Hill Press publishing company, Purple Orange (a direct marketing company), virtual media company Interstation and Fixed Address, a property company. "Do it for yourself, believe in your ideas, don't get greedy and don't forget to give something back," he advises. Among other things, Frampton, an entrant in our Entrepreneur of The Year Award, is committed to creating opportunities to develop the country's youth. By providing a yearly bursary to two Association of Advertising Agencies students in the creative field, Frampton is aiming towards developing a strong base of creative talent that will help South Africa hold its own internationally. "We also extend frequent invitations to students from advertising and design schools to spend their vacation gaining experience in our creative department." Debby Reader Top of page
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