Interested in starting your own entrepreneurial journey in advertising services but unsure what to expect? Then read up on our interview with Harrison Wise, President of Wise Collective, Inc., located in New York, NY, USA.

What's your business, and who are your customers?

Wise Collective is a full-service integrated marketing communications firm that helps clients with brand positioning, reputation building, crisis management, product awareness, and audience engagement. Our client list includes enterprise companies, revolutionary startups, and growth-stage companies in between. We work with companies from various sectors, including consumer tech, fintech, agtech, edtech, foodtech, adtech, and martech, as well as the cannabis, media & entertainment industries.

Tell us about yourself

I first got into PR in 1995 during college and discovered I had a passion for it. I spent the first decade of my career working for a few notable NY PR agencies and then went in-house at a video ad tech start-up as their VP of Corporate Communications. This was a short-lived role, as the company went bankrupt less than a year after I started there. However, this was the catalyst for hanging my own shingle and starting the agency in 2007. As far as what motivates me to do what I do? I am driven by the challenge of developing creative and innovative strategies that will capture the attention of our client's target audiences and materially impact their businesses in a positive way. We pride ourselves on helping clients get closer to where they aspire to be and driving the success of a company or organization through storytelling, strategic marketing, and creative communications.

What's your biggest accomplishment as a business owner?

The biggest accomplishment as a business owner is providing opportunities and employment for people to learn, grow and evolve as people and as professionals. Whether it's those who are just starting out and providing an opportunity to learn and grow in a given area or collaborating with more seasoned professionals to accomplish what our clients hired us to accomplish, it's rewarding to build something that's bigger than yourself and provide these opportunities. Particularly during economically challenging periods like the 2008 economic crisis and the 2020 pandemic. While we were certainly impacted financially, we were fortunate to be able to retain a handful of employees and provide opportunities during a very challenging time that I'd never experienced before. As such, I am proud of what I accomplished. I know I made mistakes along the way, but I also know I did the best I could under the circumstances, and as difficult as it was, I was able to help people with their mortgages or rent and keep food on the table. It's a thankless role, being a business owner, but I enjoy it.

What's one of the hardest things that comes with being a business owner?

One of the hardest things that comes with being a (small) business owner is the need to constantly make difficult decisions. As the person ultimately responsible for the success or failure of the business, I must make tough choices every day that can impact the future of the company and the people that support it.

Another challenging aspect of being a (small) business owner is the need to manage multiple priorities and wear many different hats. As a business owner, I must balance the demands of sales, marketing, finance, and operations, often working long hours and taking on a variety of tasks to keep the business running smoothly in the face of challenges that are beyond our control, such as during a recession or global pandemic. And, I'd be remiss if I also didn't point out that as a business owner, I often face significant financial and personal risks, investing my own money and resources into the business, which I'm personally liable for should any legal or financial issues that arise. We take on a lot of risks, yet most people think business owners are just rolling in the dough, which is just false.

Overall, being a (small) business owner requires a combination of resilience, adaptability, and a willingness to make tough decisions in the face of uncertainty and risk. Add to that a career in PR, one of the top 5 most stressful professions, and you have a snapshot of what it's like to live in my shoes...

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Develop a clear and concise business plan: A well-thought-out business plan is essential for starting, running, and growing a successful business. It should include your mission, vision, goals, target market, competitive analysis, marketing strategies, financial projections, and other relevant information. A business plan will not only guide your decisions, but it will also be necessary if you plan to seek funding or investors down the road, and it keeps you accountable to the vision.
  2. Find a partner (or senior employee) who complements your skills: Starting and running a business can be overwhelming, and it's unlikely that anyone can excel at every aspect of the business. Finding a partner who has complementary skills to yours can be a valuable asset. For example, if you're good at sales and marketing but struggle with financial management, finding a partner who is strong in that area can help balance out your skill set and lead to a more successful business in the long run.
  3. Focus on customer satisfaction: No matter what type of business you're in, customer satisfaction should be a top priority. You should strive to understand your customer's needs and expectations and continuously work to exceed them. This can be achieved through excellent customer service, quality products or services, and effective marketing and communication strategies.

Overall, starting, running, and growing a successful business requires hard work, dedication, and a willingness to learn and adapt as you go. By developing a clear business plan, focusing on customer satisfaction, and finding a partner who complements your skills, you can set your business up for success today and in the future.

Where can people find you and your business?

Website: https://www.wisecollective.co/
Instagram: https://www.instagram.com/collectivelywise/
Twitter: https://twitter.com/CollectiveWise
LinkedIn: https://www.linkedin.com/in/harrisongwise/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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