Sector: Marketing and Advertising
When asked what they do, who wouldn’t want to reply enigmatically, ‘I have an ad agency in Istanbul’? There are a lot of ad agencies in Istanbul, no one looks twice if another one pops up, even it is run by a team of Turkish women entrepreneur partners and is dedicated to Turkish women entrepreneurs, and doesn’t do much pure advertising in its first incarnation.
Flagship Product: Pi Factory
Current Status: Dormant
Not so much a brand as a creator and servicer of emerging market ready brands, and what starts in Istanbul, stays in Istanbul, as a full service ad agency taking a rest from the front line, but always only a click away from reactivation. Pi Factory was the section within the ad agency that specialised in corporate identity, and since the early focus was on startup brand identity, saw plenty action.
Preparing for market cycles pre-quantitative easing with Pi Factory
First Development Phase:
An advertising agency setup is the perfect blank sheet for the creation of emerging market friendly business models and brands. Under appreciated women entrepreneurs with no business preconceptions but plenty of potential are the best innovators. Over a ten year period between 2005 and 2015 Güneşten Ad Agency worked with a team of four female partners to develop a business model template with a property base and diverse brands for the Turkish emerging market and went some way to building it. It’s often an outsider who can see opportunities and find new solutions to old problems, and Güneşten took a fresh look at every aspect of the Turkish market, and came up with some new formulas and an investment model tailored to Turkish emerging market needs, not to mention a whole portfolio of new brands. In 2015 the half time whistle blew and it was time to go home and take stock. The second half starts when there’s enough investment available to push ahead on all fronts developed in the first phase at once.
Who’s in next?
Güneşten means ‘from the sun’ in Turkish, and the basis of the new emerging market business model where everything was being created from scratch was that an Ad Agency would give energy and hold brands in their planetary orbit, and generally bring light and control to brand creation. Critical mass, or stable regular income, would come from investment in prime historic property proportionate to the size of the startup brand solar system projected. The toughest job doing ground up in emerging markets is finding investment to meet early pre-cashflow projections on the hoof.
Güneşten developed its own investment infrastructure, and advertised its progress at different points along the way, but never got far enough ahead of property gearing costs to make the big jump to sustainable income generation, so the property critical mass was sold back into the market to go as far as possible in building brands and stress testing the business model, including a high street startup. When the money ran out, it was time to secure the intellectual property, and take a break, confident that an outside source of investment would be found, and conditions would arrive when it made sense to return to develop the whole plan in a way that took it straight to sustainable income generation.