{"id":47832,"date":"2023-10-20T15:55:28","date_gmt":"2023-10-20T15:55:28","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/modelling-an-overly-lean-start-up-startupsmart\/"},"modified":"2023-10-20T15:55:28","modified_gmt":"2023-10-20T15:55:28","slug":"modelling-an-overly-lean-start-up-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/modelling-an-overly-lean-start-up-startupsmart\/","title":{"rendered":"Modelling an overly-lean start-up – StartupSmart"},"content":{"rendered":"
\"feature-my-best-mistake-tw-thumb\"<\/div>\n

All start-ups should ensure costs don\u2019t run out of control, but when you operate in a cutthroat industry such as modelling, you can\u2019t afford to skimp on much if your business is to grow.<\/p>\n

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When Taryn Williams started her business, she soon realised her management style wasn\u2019t sustainable if she wanted to be taken seriously.<\/p>\n

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Williams, 26, is the founder of WINK, a Sydney-based agency for models and promotional talent. Founded in 2007 and operating nationwide, the business recently signed its 350th<\/sup> model.<\/p>\n

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WINK secures talent for clients across a range of categories, from high fashion runway shows and magazine shoots to event hosting and in-store promotional activities.<\/p>\n

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The agency counts high-profile brands such as Volvo, MAC Cosmetics and Vodafone as clients, and Williams is hoping to open a Melbourne office before the end of the year.<\/p>\n

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WINK also prides itself on the way in which it treats its models.<\/p>\n

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\u201cI\u2019d been working in the modeling and events industry myself for about nine years. I found that the way agencies were being run left a little bit to be desired,\u201d Williams says.<\/p>\n

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\u201cA lot of models don\u2019t get paid on time or aren\u2019t briefed very well about the things they\u2019ll be doing before going on the job.\u201d<\/p>\n

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\u201cThere\u2019s no industry body to protect them \u2013 there\u2019s no union or industry pay rates. I wanted to do something to change that, so I decided to start my own agency.\u201d<\/p>\n

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\u201cEveryone gets paid within seven days as opposed to getting paid every three months. This flows on to the clients because they get models who are happy to be at work.\u201d<\/p>\n

 <\/p>\n

But before its rise through the ranks, Williams struggled to keep the company afloat due to her dogged determination to keep costs to an absolute minimum.<\/p>\n

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\u201cLooking back, my biggest mistake was trying to do absolutely everything myself because I was so fearful of investing in a bookkeeper, PR agency or anything like that,\u201d she says.<\/p>\n

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\u201cI had a fear of expenditure\u2026 I thought I could save so much money if I did it all myself.\u201d<\/p>\n

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\u201cProbably after a year of being in business, I was really struggling to do all the bookkeeping, in addition to not using an accountant and not having an assistant, and doing all my own IT setup.\u201d<\/p>\n

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\u201cThe business ended up being compromised. Instead of having a really neat system, everything was really clunky and out of date.\u201d<\/p>\n

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\u201cTax-wise, I was in a bad position because I hadn\u2019t set up the company as a Pty Ltd. I had run off without stopping to get any professional advice.\u201d<\/p>\n

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Williams finally decided to change tack when she realised she no longer enjoying being in business, partly because she was spending so much time completing tasks that didn\u2019t interest her.<\/p>\n

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\u201cI had 100 models Australia-wide, but it was me doing all the client-chasing and all the behind-the-scenes admin,\u201d she says.<\/p>\n

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\u201cI was spread very thin, and not using my time to make sure the models and the clients were happy. It left me no time to focus on what I\u2019m good at.\u201d<\/p>\n

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\u201cWhen I looked at it on paper, and realised the number of hours I was spending on certain things, it finally made sense to me to hire someone to do it properly and much quicker than I can.\u201d<\/p>\n

 <\/p>\n

Williams hired a web developer and an IT professional to build a new business website, an assistant to help her with talent applicants, an accountant and a bookkeeper.<\/p>\n

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\u201cI was saving so much money because my BAS was being done properly and the business was set up properly tax-wise. It [also] generated new business almost immediately,\u201d she says.<\/p>\n

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\u201cRevenue for this year is predicted at $500k to 600k.\u201d<\/p>\n

 <\/p>\n

By understanding the importance of having a professional team, Williams has been able to refocus on her main passion: recruiting standout talent while delivering great results to clients.<\/p>\n

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\u201cWe have a much tighter management style, which flows through to all our staff and talent,\u201d she says.<\/p>\n

 <\/p>\n

\u201c[The way we treat our models] kind of couples with how we treat our clients. We\u2019re the agency where nothing\u2019s too much trouble.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

All start-ups should ensure costs don\u2019t run out of control, but when you operate in a cutthroat industry such as<\/p>\n","protected":false},"author":1,"featured_media":58328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,27,28,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47832"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=47832"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58328"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}