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It’s been 12 months since Flower Shop opened its doors to the world from an old florist unit on New York City’s Lower East Side.
In that short time, and in a tough economic climate, the creative agency has worked with clients including Adidas. It’s also garnered $1.3 million in revenues; delivering ideas instead of peonies.
In this episode of Yeah, That’s Probably an Ad, Rebecca Stewart and Luz Corona are joined by Flower Shop’s co-founders, CEO Mary Lou Bunn and chief creative officer Alastair Merry.
They discussed the practicalities of navigating their first year in business together, offering advice to others thinking of making the leap from agency staffer to startup founder.
Listen to the full episode here, on Spotify or Apple Podcasts, and read key takeaways below to learn more.
Unexpected paths can lead to unexpected places
Bunn’s career background was in hospitality before she transitioned to advertising 15 years ago. This grounding has influenced her approach to work, with skills rooted in building identities, products and design. Her ad agency roles have included new business and marketing tenures at TBWA\Chiat\Day and Big Spaceship. This experience primed her to shape Flower Shop’s unique culture and operational success as founder and CEO.
Merry considers himself a ‘lifer’ in advertising, with a portfolio spanning TBWA, BBH and Wieden+Kennedy. He yearns for the days when ideas would come to life on scrap paper after a conversation in the office. His approach to creativity at Flower Shop prioritizes conceptual creativity that cuts through the clutter.
New founders should balance creativity with financial savvy
Flower Shop now has five full-time staff members and several freelancers, who all work from the same table in the space; but not everyone is creative. Bunn explained how instrumental having a collaborative relationship with Flower Shop’s chief financial officer, Bill Afonso, has been to building success in the first year.
She and Merry prioritize forecasting, cash-flow management and innovative pricing models. Of course, founders should be primed for difficult conversations with CFOs, but these are necessary to achieve common goals and produce excellent work.
Find your unique selling proposition, and your first client, quickly
Bunn explained that smaller agencies need to work on finding the perfect balance between creativity and operations, choosing a focus area, and excelling in it.