Issue 31: A bulletin for big ideas and better business.

Silly season?

August is usually when the news cycle slows down: not in 2024. This week The Business of Creativity dives into the Bosphorus, bashes some buttons at the eSports Awards, and offers some tips on jerk chicken. Plus: we ask why so many start-ups are faltering. And pose the question – is a ‘workation’ ever a good idea? But first: Sir John wants you to ship.

OPINION/ ENTREPRENEURSHIP 

Just ship it: getting your idea out there is everything

💬 Sir John Hegarty

There’s no back catalogue in advertising. Running an agency hinges on your team’s ability to show up to the office each day, and spring forth with a plethora of excellent ideas. It’s this simple: no ideas = no business. While the calibre of thinking is crucial, so is speed. George Smith Patton Jr. a general in the US Army said: “A good plan violently executed now is better than a perfect plan executed next week.” While getting an agency into the air isn’t exactly like overseeing say, a theatre of war in North Africa, there are parallels. Speed, guile, and a stroke of fortune are all necessary components.

We had to have a brilliant idea
for a product that had been
invented a century before.

Getting your idea out and into the wild fast is essential. And there is no other gauge for quality. Want to know whether you have a world-beating campaign, product, or innovation? Take it to market. Our ‘just ship it’ moment at BBH came when we launched Levi’s 501s in Europe. The denim brand had put together an effective campaign in the US with the tagline “The Original Blues” with help from FCB, another agency. Initially, bosses at Levi’s wanted to run the American campaign over here. Research showed that the idea left European audiences cold. After edging McCann Erickson out of the way in the pitch process (this was a bit of a coup too, as we were much smaller) we created the work that made us: ‘Bath’ and ‘Laundrette’. The work was so successful that Levi Strauss had to pull the ads – the company couldn’t keep up with demand.

The Levi’s ads cited above are, without doubt, the most strenuous pieces of creativity I ever worked on. We had to have a brilliant idea, but one that re-ignited fashion interest in a product that had been invented a century before. It had to generate press, and carry a piece of music that would chart. But if a team member was flagging under the pressure, someone else would pick up the baton and run at the problem even harder. Getting great work out fast requires grit. If your team is running low on that most vital resource, I suggest quoting another Patton-ism*: “We shall attack and attack until we are exhausted, and then we shall attack again.” Quite.

*It’s worth noting that the general wasn’t always on the mark when it came to management. An incident where he assaulted and accused a shell-shocked soldier in a field hospital of cowardice resulted in a very public (and very deserved) raking.

THE AGENDA

✏️ Pencil it in: your agenda for the coming week

1.
Like Davos, but with more bankers. The Jackson Hole symposium will be anxiously observed as Jerome Powell, chair of the Federal Reserve, offers a prognosis on the US economy.
22nd August

2.
Gamers watching other gamers game is big business. The eSports Awards in Riyadh is a ritzy affair that signifies the sector is moving beyond its teenage years.
24th August

3.
The 2024 World Robot Conference comes to Beijing. Humanoid ones are expected to make a big impression this year.
23rd – 25th August

4.
Twerk and jerk. Notting Hill Carnival is London’s African Caribbean cultural festival – and the capital’s best street party.
24th August

US / BUSINESS

Boom…then bust

Tally Money banking app: one casualty of many.
Contributor: Ascannio / Alamy Stock Photo

Start-up founders tend to view failure as an opportunity for personal growth. If figures from Carta, a software company, are to be believed, then the last year has offered no shortage of lessons for entrepreneurs. Start-up failures in the US increased by 60% between 2023 and 2024. The faltering comes in the wake of a funding bonanza that happened between 2021-22. Now the money has dried up Carta told the Financial Times that 254 of its venture backed clients had folded in the first quarter of the year. This development exposes a flaw in the investment ecosystem. When markets are frothy, business valuations are exaggerated, and founders are enticed by the prospect of more cash. But successive investment rounds lure attention away from where it ought to be: building something that works, or sells. Here’s a novel idea – start a company that grows from customer revenue, rather than cash injections.

Credit: Clo’e Floirat

GLOBAL / FASHION

Crocs gets creative

Your brain on Crocs
Contributor: Crocs (2024)

Can anything stop Crocs? Sales of the clogs are spiralling upwards and revenue for the twelve months ending in March was over 4bn. An increase of 6.29% from the previous year. The brand’s combination of comfort and quirk is resonating with audiences. An added play for customisation is likely to give it a further surge. ‘Jibbitz’ are the miniature charms that fit onto the shoe’s perforated surface, but a new online platform, called the MadLab, promises to enable the Crocs community to design digital Jibbitz (these are called Bbitz, by the way). The company plans to roll out more functions – like prizes, discounts and experiences. This is a smart way to leverage the creativity of a fervent community. Meanwhile, MadLab will cultivate a club-like feeling among Crocs fans.

GLOBAL / WORK

A bad trip? 

‘Workation’ (it’s not a real holiday).
Contributor: Aleksei Gorodenkov / Alamy Stock Photo

There was a time when work socialising meant a few pints on a Thursday or Friday evening. Not anymore. In the wake of the pandemic, with employees simply showing up when they like (and never on a Friday), it’s harder to engineer moments of connection in businesses. Enter the curious phenomenon of the ‘workation’ – a holiday, but you’re with all your colleagues. And you probably have to keep working for some of it. The trend is concerning for a few reasons. Firstly, there’s no way of mentally recharging while one is constantly reminded of matters concerning the office. Secondly, companies seem to use such trips as a means of luring talent – don’t you want to work at the place with the super-cool CEO who whisks everyone off to Ibiza? Thirdly, if the trip in question is assigned as annual leave, it’s a conniving way for bosses to squeeze more time on the clock. Your work and leisure time are better divided.

I think the reward for conformity is that everyone likes you except yourself.

/Rita Mae Brown