{"id":8146,"date":"2017-10-26T19:49:44","date_gmt":"2017-10-26T19:49:44","guid":{"rendered":"https:\/\/designcanyon.com\/?p=8146"},"modified":"2017-10-26T19:49:44","modified_gmt":"2017-10-26T19:49:44","slug":"want-start-design-firm-7-things-know-first","status":"publish","type":"post","link":"https:\/\/designcanyon.com\/design\/want-start-design-firm-7-things-know-first\/","title":{"rendered":"Want to Start a Design Firm? 7 Things You Should Know First"},"content":{"rendered":"

If you have a few years of design experience, you might wonder about the possibility of starting your own firm. After all, you probably have great ideas, a knowledge of who to target, and several connections with other designers. Owning your own design firm could help you make more money, put you in charge of all your decisions (including your schedule, and which clients you take on), and might give you a greater sense of inspiration<\/a> and fulfillment on a regular basis.<\/p>\n

But before you quit your job and start building your own firm, there are several things you should address.<\/p>\n

What to Know Before Starting a Firm<\/strong><\/p>\n

Don\u2019t start a design firm without considering these important points:<\/p>\n

    \n
  1. You may be under a non-compete agreement. <\/strong>Many design agencies use a non-compete clause in their employment contracts<\/a> to prevent designers from certain actions that could harm the employer. Depending on the wording, this may prevent you from working anywhere that also offers design work for a period of time following your departure from the agency. It might also prevent you from taking clients with you, should you move onto other opportunities. Check your contract carefully before you get too excited about starting your own firm.<\/li>\n
  2. Reputation is everything. <\/strong>Design firms live and die by their reputation. If you do good work and are renowned for it, you\u2019ll have an endless stream of new clients coming your way. But if you\u2019re just starting out, you won\u2019t have much of a reputation to work with at all. That means, you\u2019ll have a harder time attracting good clients, and the work you take on might not be good enough to showcase in your portfolio.<\/li>\n
  3. Decisions are harder than you think. <\/strong>The idea of making all your own decisions and being in charge of your own destiny is appealing, but the reality of decision making is far more complex. The decisions you make will have a substantial impact on your overall success, making each decision successively more stressful. And if you make too many decisions (as entrepreneurs tend to), you could end up with decision fatigue<\/a>, which causes even more stress and anxiety.<\/li>\n
  4. You\u2019ll need to take care of your workers. <\/strong>Employees cost more than just their base salary or hourly rate. You\u2019ll need to plan to pay taxes, along with worker\u2019s compensation insurance. Depending on which state your design firm will be located in, it\u2019s almost certain that worker\u2019s comp is necessary to cover your workers if they\u2019re injured or fall ill on the job (even if you\u2019re not at fault<\/a>).<\/li>\n
  5. Client management is tough. <\/strong>In your current role, it\u2019s fun to think about saying \u201cno\u201d to tough clients, and only bringing on the clients who can advance your career and be worth your while. Unfortunately, client management is tougher than it seems; you\u2019ll have to carefully balance which clients you take on, and almost every client will have a significant downside, whether it\u2019s a bad attitude or an inability to pay on time.<\/li>\n
  6. You\u2019ll probably need startup capital. <\/strong>Unless you have clients already lined up and revenue being generated, you\u2019ll probably need some startup capital to get things moving. You\u2019ll need to pay for office space, equipment, subscriptions for the software you\u2019re using, and marketing and advertising expenses at a minimum. Unless you have spare money lying around, you\u2019ll need significant capital to get started.<\/li>\n
  7. You won\u2019t be designing. <\/strong>Keep in mind that if you\u2019re in charge of the design firm, you probably won\u2019t be doing much designing. You\u2019ll be making decisions that keep the design firm moving, meeting with clients, and managing employees. For some people, this is ideal, but if you\u2019re passionate about design, you may feel detached after a few months on the job. Entrepreneurship is a different animal.<\/li>\n<\/ol>\n

    Is a Firm Right for You? <\/strong><\/p>\n

    Though you may have all the skills and experience necessary to start a design firm, running a firm isn\u2019t the best career move for every designer. Think carefully about what fulfills you in your career, what the real cost of running a firm is, and whether you\u2019re up for the challenge. If you still feel good after doing your research, you\u2019ll need to put together a business plan<\/a> and find a way to start saving for startup capital. As long as you\u2019re prepared, you\u2019ll have a chance to succeed.<\/p>\n","protected":false},"excerpt":{"rendered":"

    If you have a few years of design experience, you might wonder about the possibility of starting your own firm. 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