Ben Terrett described his business, The Really Interesting Group, as a multi-disciplinary post digital group. He is the only designer in a partnership of three - an experience that is very grounding. The others are a writer and a web coder. Working alongside them in their studio is an eclectic mix of business people with a lot in common who use blogs, the web and technology, creatively. There are about 16 of them including a youth consultant, a team working on hardware at the interface between the computer and the process it operates, interactive designers and web specialists.
The partners discovered early on that decisions such as choosing premises were much easier with fewer decision–makers. The core of three take the risks, such as signing a commercial premises lease with personal guarantees. Ben remarked that it's interesting how the three are the only ones with mortgages and children.
They found the choice of business models surprisingly conventional, Victorian even: limited company, partnership, Plc, partnership of limited companies, limited partnership and an interesting option he describes as Hollywood. This is forming a limited company for a project that is wound up when the project is completed. Ben and partners talked to business people they admired, such as a Pentagram partner, and researched options - Martin Sorrell favours the Hollywood model. They considered the legal implications and complexities. In the end they went for a partnership.
The people who share the studio space form teams on a project basis. The only rule is that the terms of a project are negotiated in advance, so everyone knows their roles and the financial split. The team works to the end of the project and the next one is negotiated afresh. If it doesn't work out, then people don't stay.
Never having experienced a recession, Ben says it's hard to recognise the present one. The Really Interesting Group explores different business models as alternatives to the conventional fees for services one - although they do this too. Projects include a joint venture with Penguin Books, exploring different ways of selling books such as novels sold via mobile phones for £1.50 or published on the inside wrapper of a Divine chocolate bar. They may make money out of it, but if not, they'll have learnt a lot.
Designer Breakfasts admire this; we have been advocating risk and reward for a couple of years now and are coming across more designers doing it.
Ben's favourite project is a piece of software that enables people to publish their own newspaper. Initially they did one on "Things our friends have written on the Internet". With funding from 4IP, the Channel 4 venture capital fund, they are developing an online service, a website that will enable people worldwide to upload their own content or tag stuff online, fill their own newspaper and get it printed by print contractor partners. Once set up, the site will run on its own with minimal input. Ben says he wanted to look at a product of the future.
The business model is sustainable, it suits their interests, it’s not dependent on clients and it’s easy for people to come and go.