Running a design business takes more than a “passion for design”.
Read in my blog more information by each step : 💥www.hobbytosmallbusiness.blogspot.com
If you want to stand out in the crowded design industry you are going to need more than just a passion for design. You are going to need to have strategic business knowledge and skills (or be willing to learn these skills).
💢Motivations + Goals...
*Why do I want to start my own design business?
*What are my long-term professional goals? How does starting a business align with these goals?
*Do I have the skills of an entrepreneur (in sales, marketing, finance and operation?) If not, am I prepared to learn these skills?
*How will starting a run, my own business affects my personal life and work life balance?
*Am I ready to commit the time and energy required to get business off the ground, knowing it will take long hours and impact my personal time? This is not a 9-5 venture!
*How do I handle stress and pressure?
*Am I comfortable making tough decisions and potentially facing financial instability?
*Do I have a support system in place (family, friends, mentors) who can provide advice, encouragement and practical help as needed?
*Do I have a plan for sustaining myself financially if the business does not generate profit immediately?
💢Skills, Expertise + Market Demand
How do my
design skills compare to current industry standards?
What areas
of design am I most proficient in (commercial, residential…)?
Am I
proficient in the necessary design software tools (CAD, SketchUp, Photoshop...)?
Do I have
a strong and how to manage client projects?
How commitment
am I to ongoing learning to keep up with design trends, technology changes and
industry best practices?
Who is my
target market and what specific design market that I could uniquely fill?
Based on
my skills and market trends, what specific service should I offer to stand out?
How can I
package my services to make them attractive to my target market?
What are
the key expectations of my target clients and how can I exceed them?
💢Business model + Pricing
What revenue streams will I offer in my business?
How can I diversify my revenue streams to create a more resilient business model?
What are my fixed and variable cost and how do they impact my pricing strategy?
How does my pricing communicate the value of service to potential clients?
Can I articulate the benefits and outcomes clients will receive from my services that justify my fees?
What will my payment terms be? How can I structure payment to reduce risk?
How often will I review and adjust my pricing?
💢Operational Logistics
What is
the most appropriate legal structure for my business (sole trader, partnership,
company)?
What are
the legal requirements for doing business in my jurisdiction?
Do I need
specific licenses or permits to legally operate my business?
Have I
contacted a lawyer to draft the required contracts, agreements or terms I need
to work with clients and reduce my business risk?
What
accounting software will best meet the needs of my business for tracking
income, expenses and taxes?
Have I
created a budget that includes startup costs, operating expenses and
projections for revenue and profit in my first years?
What are
my tax obligations as a business owner and how do they differ from being an
employee?
What types
of insurance do I need to protect my business, myself and my clients?
What
technology and tools do I need to efficiently run my business?
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💢Branding + Marketing
💢Client Experience
What will
my client’s onboarding process be like?
What tools
do I need to have in place for this (client welcome pack, questionnaire…)?
How will I
maintain clear and consistent communication with clients during the design
process?
What tools
or platforms will I use to keep clients updated and involved in their projects?
How will I
ensure the highest quality in my design work and services provided to clients?
What
additional services or touch points can I provide that go beyond the basic
scope of work to surprise and delight my clients?
How will I
follow up with clients after project completion to ensure their satisfaction?
What
system can I implement for addressing any post completion issues or concerns
promptly?
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