Josh Lane will never forget the check that showed up hours before payroll was due.
It was year one. He had a 20-month-old daughter and a two-month-old at home. His wife had just left her job. His business partner Matt Ferebee was in a similar situation—young family, no safety net, everything riding on this working.
They’d made one commitment to each other and their families: never miss payroll. Even if it was just paying themselves, they would honor that promise.
“There was one time where I thought we were going to miss payroll,” Lane admits. “Fortunately, that check showed up literally hours before we expected to see those checks.”
That moment—that near-miss—shaped how they’ve run FerebeeLane for 22 years. Financial discipline isn’t about being conservative. It’s about honoring commitments to the people who depend on you.
Twenty-two years ago, Lane watched his agency get acquired by IPG. His path to leadership evaporated overnight. He could have stayed. But he trusted his own decision-making more than someone else’s P&L spreadsheet determining his future.
So he and Ferebee spent two years planning what would become FerebeeLane—a true 50/50 partnership that everyone said wouldn’t work.
Why the 50/50 partnership worked when everyone said it wouldn’t
Conventional wisdom says you need a tiebreaker. Someone who gets final say when opinions diverge. 51/49 at minimum.
Lane and Ferebee ignored that advice. They’d worked together for two years. They knew each other’s values, approaches, and blind spots. They looked out for each other’s best interests. And in 22 years, that 50/50 split has never caused a single problem.
“The benefit of having a partner who is equal to myself is that I’m not alone,” Lane explains. “I’ve got somebody to go through this with, who I can talk to about anything—family, the challenges of agency ownership, business decisions.”
For the first few years, they shared an office so they could have continual conversations. Not meetings. Just ongoing dialogue about everything they were building.
If you’re considering starting with a partner, the structure matters less than the trust. They were 50/50 because they genuinely looked out for each other. That matters more than having a tiebreaker clause you’ll never use.
What year one looked like: chasing $500 projects
Year one wasn’t romantic. They took any client work they could get. Small budgets, unsophisticated clients who didn’t understand advertising, projects that paid $500 or $1,500 just to keep the lights on.
“I’m like, man, is this what it’s going to be about?” Lane remembers. “Am I always going to work on these super small clients who don’t really care?”
That question forced them to get specific about positioning. They decided to focus exclusively on premium brands and affluent consumers—categories where clients valued strategic thinking and were willing to invest in quality work.
The book Trading Up became foundational: no matter how much money people have, they spend disproportionately on categories that matter to them. FerebeeLane’s job is to help brands in those categories earn that investment.
But that positioning clarity didn’t come from strategy decks. It came from desperation—from realizing they couldn’t keep chasing work they didn’t want just to survive.
The moment that almost broke them
That near-miss payroll check taught them something critical: you’re not just responsible for yourself.
When Lane looks out his office window now, he sees 40 people. But he’s thinking about 150 people—every employee plus their families. That’s 150 people depending on them to deliver every single day.
“That was one moment where reality hit,” Lane reflects. “It shaped how we’ve run this agency never to be in that situation again.”
Financial discipline became non-negotiable. Not because they’re risk-averse, but because they made a commitment. To themselves, to their partners, to their families, and eventually to every person they hired.
For anyone about to start: that fear is real. That pressure is real. But that responsibility—knowing people are counting on you—can also clarify your decision-making in ways nothing else can.
What they wish they’d known before starting
If you’re sitting on the sidelines right now, here’s what 22 years taught them:
Pick your partner carefully. Lane and Ferebee had worked together for two years before starting. They knew how each other thought, worked, and handled pressure. That foundation mattered more than any operating agreement.
Get specific early. Year one was wasted on $500 projects because they hadn’t figured out their positioning. The sooner you get clear on who you serve and what you offer, the less time you waste.
Make commitments you can keep. That “never miss payroll” pact wasn’t just noble—it forced them to be disciplined about cash flow, client selection, and growth pacing.
Expect the moment that tests you. For them, it was that near-miss check. For you, it’ll be something else. Have a partner you trust when that moment comes.
Know your “we made it” moment. For Lane and Ferebee, it was getting both their kids through high school, with college taken care of. Define success on your terms, not the industry’s.
Year one is terrifying. The check might not show up. The clients might not materialize. But if you’ve picked the right partner, made clear commitments, and are willing to get serious when reality kicks in—you have a shot.
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