Entrepreneur Profile: Kevin Farnham
Lauren Pederson
Big Picture:
Reason for Starting Business:
We saw a lot of division between kinds of agencies. We saw an opportunity where branding was looked at holistically.
Most difficult part of decision:
During the dot-com boom, not to overgrow or grow too quickly. The demand exceeded our capacity almost straight away.
Biggest plus of ownership:
Watching the amazing work that comes out of the studios, the incredible outpouring of creativity.
Biggest drawback:
Making sure everything is properly faciliated is a challenge.
Biggest misconception:
How easy it is to set things up. It's an incredible amount of infrastructure and consensus building.
Biggest business strength:
The diversity of offering. We do everything from handheld device interfaces to full-scale brand programs and printed collateral. The whole of a brand challenge.
Biggest business weakness:
Size. We're turning away work.
Biggest risk:
We took out a large loan to build out spaces. The downturn hit after, so sitting on a pile of debt with not much demand after the bust.
Biggest mistake:
In starting the business: treating it like family. Emotional attachment can get in the way of making the right business decisions.
Smartest move:
Starting Form (Method's production company). Method is so focused on user experience, we weren't able to monetize production-oriented tasks.
Biggest worry:
Not being able to scale to the demand.
Top source of inspiration:
It varies quite a bit. People like Richard Branson who understand branding.
Daily Routine
Most challenging task:
Making sure we have the right set of people, that we've got the right mix of talent at all times.
Favorite task:
I love the hunt, the business development cycle.
Least favorite task:
The financial aspects. Luckily, my business partner deals with that quite a bit.
Biggest frustration:
Making sure we have the right people in the right jobs at the right time.
Source of support in a business crisis:
My managing director and business partner Patrick Newbery, and David Lipkin, my business partner and COO.
Dreams
Key Goal yet to achieve:
We are in process of trying to position ourselves as leaders. Making sure we become the "go to" folks for branding and interface.
First move with capital windfall:
Start another company.
Five-year plan:
To position ourselves at the level of expertise we deserve. Continue to open offices in Europe and Japan.
Inducement to sell:
An unbelievable fit. It would have to provide our customers with an incredible amount of additional value that we can't create on our own.
First choice for new career or venture:
A company I thought of when I was 18, one very targeted to media and cultural education.
Personals
Most-admired entrepreneur:
Richard Branson.
Most interested in meeting:
Not a particular person, but other innovators.
Stress reducers:
Texas Hold'em.
Favorite pastimes:
Texas Hold'em, music and media, film.
Favorite book:
"The Discoverers," Daniel Boorstin.
Favorite film:
"Royal Tenenbaums".
Favorite restaurant:
Michael Mina.
Favorite destination:
Paris.
Automobile:
Audi A6 Avant.
