Feedback Wanted

[fingerPrint.Design]

Hello everyone,
I am considering opening my own design studio and I wanted to get some input from professionals such as yourselves. I have been do design work for about 6 years, professionally for 2.

First off any advice?

Do you think my design skills are what it takes to own my own studio? Take a look at www.coroflot.com/james_markey (http://www.coroflot.com/james_markey)

Everything on the site is school work, however I do have "real" work that is portfolio quality but not on the site.

My logo is on the same site as well, any input on that?

What do you think of the tag line
"We Start Trends"

A possible name would be the same as on this site, FingerPRINT DESIGN, it would not have to be in those exact cases. That is what I am thinking about.

Any input would be great

[Six]

First - Your own studio. others may weigh in here but consider this. Owning your own studio is cool because it is yours and a chance to build something. But consider what it will take. You will have to become your own salesman, production person, runner, bookkeeper for AR/AP, and chief cook and bottle washer on top of designing. That is demanding! (I tried it for a few years.) And you will need to be good at all those things. Are you? Design time will be dramatically reduced or hours doing it extended dramatically. You will also be responsible for both halves of FICA and have to file quarterly returns. Learn the business side, because that will occupy half your time.

You really need a client base that will sustain you or some other means of support until you can establish that client base. Most of us do this by freelancing on the side, if your employer allows this, until you build a supportative client base or be a rat and take clients with you when you quit.

As for your work it is hard to evaluate without knowing the context and your potential market. Your packaging is weak. I did not get the sense of what was in the can and how it would help me. It looks like student work. The rest of it had some strong creative elements and some not. The fact that it is all student work may not help you much. Get some non-student work to show. Maybe some more experience before you take the leap?

As for a domain, yes, and you also need to do some search engine optimization (SEO) so the search engines can even find you.

For what it is worth, I have seen enough to at least consider hiring you for a design position but would want to see a lot more before I made that decision one way or another.

Six

[budafist]

If you are wanting to freelance, get rid of your student work from your portfolio - or at least revamp it so that we can't recognise it as student work.

Design schools often recycle the same projects year after year. Say there are 100 students per school per year. Every year there is similar work for the same briefs being churned out.

I suggest you freelance for a while as well as a normal job to see how it goes for you. Once the freelance jobs can sustain you, you can drop your day job. That's how I figure it.

[fingerPrint.Design]

Ok six and Budafist, I have a couple questions for ya since you were the only ones to respond.

When freelnacing should I just use my name or should I register a business name and all that business stuff and use that name?

If I use my name I know I dont need to register that as a business name, but how do I make sure all my taxes are paid to uncle spam? Do I just save a chunk and pay in at the end of the year?

I may have some more questions, thank you for your help in advance.

[greyghost]

OK, first off go find a good accountant. Also read some books on starting your own business.

What Six said is all too true. I spend half of my time doing administrative stuff, and half actually designing. It's rough. I don't get enough sleep, and I damn sure don't get paid enough. While I am working on both problems, it isn't a snap to fix those problems.

I actually incorporated this year. I was a sole proprietorship for my first 3 1/2 years but decided that, since I want to expand and actually start hiring people at some point, I have to do that. Personally, I would pull a ficticious name rather than use my own.

Taxes: it depends on how much you make. I had one accountant say yes I have to pay quarterlies, then I had three others that all agree that until this year, I didn't make enough to have to pay quarterly. You have to talk to your accountant. And? Find a GOOD one. There is a wide range of accountants out there, from lackluster, to uninformed, to the super-educated, to willing to help you figure out how to pay less in taxes and put more in your business and pocket - legally.

To keep track of all your income and expenses, I would set up an account, and get the ledger books from Dome - they're great, and every accountant I have had loves me for using them.

Good luck.

[fingerPrint.Design]

Do you have any suggestions as to some good books to read? I have read a ton of articles on line about running my own gig.

I have read up on business status as far as Inc., LLC and what not. I think from what I have heard LLC is the best route for a design business. What were teh reasons that you chose incrop.?

How much do accountants charge for this type of thing normally. Not that I am not going to use one, I am just wondering.

Also did you use Blue Sky Design Group during your proprietorship?

What were your first steps, buying the name then getting your tax stuff in place? Or you did it all at once?

I really appreciate your help.

[:: JJ ::]

I've recently started to develop a design studio/company with a proposed partner and went over and over the risks, but the pros outweigh the cons in this situation. Yes, its gonna be hard but it will be something you have developed yourself and started from scratch and I think living for something you believe in is the way forward, always remember.....

"The art of good business, is being a good middle man."

..... and you'll go far.

[Andi Creffield]

"The art of good business, is being a good middle man."

..... and you'll go far.

That's what Daniel Craig said and he got shot?? :)

No, in all seriousness being a good or even a great designer is only a small part of running a studio as pointed out above.
Getting a good strong and varied customer base is the really hard bit you've got to be willing to really go out there and get the work. Without a great reputation and a good advertising plan (this can be costly) the people will not come looking for you. If you're willing to almost work for free to begin with to get yourself established you will eventually build a good client list.
Most people can't afford this though.
(Having a really rich husband/wife who's willing to support you at the begining is always helpful)
Best of luck.

[PrintDriver]

As soon as possible either incorporate or LLC. You need to protect your personal assets from a business failure (a client who refuses to pay for that 40,000 piece print run for example...)

Also after you find that good accountant, find a good contract lawyer. You don't have to keep them on retainer or anything but at least speak with one when you first start out and know where they are should you need them later. Getting paid can sometimes boil down to what your contract says.

If you plan on offering identity services you may want to find out if they know a good copyright lawyer too.

[3howards]

I recently started reading a book that I now feel all designers, who are thinking about going it alone, should read. It's called The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber. Pick it up and read it, take notes, whatever, before you do this. It's one thing to be a designer, it's quite another to own a business.

Cheers.

[budafist]

Yeah sorry, can't help there, different countries, different laws.

[Broacher]

http://www.amazon.com/Savvy-Designers-Guide-Success-Tactics/dp/1581804806

Jeff Fisher not only knows what he's talking about, he even drops in here (and dozens of other online forums) quite frequently. Great guy, and a real major helper/mentor in the design community.

Jeff's book tells it like it is. A refreshing change.

Check it out.

[greyghost]

I'm going to second reading the E-Myth Revisited. I actually have a growing library of business books, not just business for designers books. They are a tax deduction so I buy myself a book or ten a month (I'm also a voracious reader).

And, working cheap is not really a good idea. Ask yourself if that's the real clientele you want. It's harder to work for the cheapasses. It is oh-so-tempting to sell yourself and your talents on the cheap, especially when you are hungry for work (I have done this, believe me) but the client KNOWS you are hungry for work then, and it looks bad. It says you don't have clients, there must be something wrong with your work, otherwise you should have lots of clients. And they are more likely to treat you like dirt. Right?

[fingerPrint.Design]

Thanks for everyones help, I just ordered both of these books off amazon today. I cant wait to get my hands on them.

[Broacher]

And we expect a good book report from you! Two hundred words minimum. Double spaced.

Seriously, it would be great to hear what you think of those books once you've had a chance to go through them.

[fingerPrint.Design]

Another question,

When you started to freelance did you do a business plan? Do I really need to do one of these to start freelancing?