As a creative agency, it’s important not to forget about the practical side of things. A business needs two halves to run effectively, after all, and creativity is only one half. There are many other expenses creative agencies need to think about. Here are three important ones:

Hardware

The modern world of business exists in the technological era. That means that you’re going to need to use technology to at least some degree, whether you like it or not. Company hardware that is up to date enough to run efficiently is a must. Most likely, those will at least include some computers – which are versatile enough to be used for the business work itself, as well as other various tasks. 

Any kind of photography, videography, graphic design, or art will need to be facilitated by hardware. In fact, modern creative art is so indelibly tied to technology that it is essential that you budget the relevant tech into your plan long before you start creating.

Data Storage

Data storage is sensitive enough that you will probably need other resources besides a work computer to store the information safely. Company servers are one possibility. The reason you need to be extra careful with data storage is that it will be the target for hackers and data thieves. You will have the potential to store terabytes of sensitive information about customers, employees, and associates. 

Names, addresses, ages, and social security numbers are a few examples of data that people can exploit. Unstructured data, including audio and video, makes up 80% of data businesses collect – so you’re going to need plenty of space. You never know when some of it could be useful.

Consultants and Outsourcing

As a creative agency, you may or may not have the resources, initiative, or manpower to expand to include all aspects of business. One of the more direct ways to solve this problem is to outsource to companies or consultants who specialize in a certain area. That might be tech support, or it might be marketing. 

It might even be HR services. Whatever the field in question is, you will probably find someone who can do it for you. You can always do things yourself, of course – but that will still cost money, and will also require effort on your part. It’s best to be aware beforehand of what goes into running a successful business. Try to plan for every possible expense that you could need so you don’t get caught by surprise.

Did you enjoy this article? Here’s more to read: The Basics of Financing a Business