Business Planning, Part One

Conventional wisdom is that a business plan must be written before a company is launched, especially if outside financing is needed. So why wasn’t this article in the very first issue of AIGA Design:Business? Frankly, it’s because many design firms do not have a business plan. If they do, there’s a good chance that it was written several years after the business started. Many of us ease into business based on project opportunities that come our way. A few big projects and a few loyal clients can enable a freelance career to gradually expand into a successful small office. Often there’s no outside pressure to produce a business plan. If you’ve been freelancing for a while, you might already own most of the equipment and software required for the company, and startup capital needed for other purposes may be minimal. So, if your design firm is already operating successfully, why would you want to write a business plan after the fact? The answer is that the document itself is part of a larger strategic planning process.

Business Planning, Part Two

A business plan itself is part of a larger strategic planning process. In the previous article, we discussed the first half of your plan. Now we’re ready to draft the remaining sections of the business plan.

Formal Feedback Programs

Do you have a formal feedback program in place? It's critical to know what your clients think about you and, even more important, what they say about you, since this will inevitably spread to prospects and other clients.