Start & Run a Graphic Design Business. Michael Huggins

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СКАЧАТЬ decisions to make. But instead of getting feedback from a formal partner relationship you can choose to get it from other sources.

      What’s the cheapest and fastest way to get information? Ask someone. Why not find someone who is in a similar type of business as you, and ask him or her questions? You can connect with others at trade events, design seminars, or you can open the phone book and give someone a call. Your goal here is to initiate a relationship with another design business owner so you can ask questions. Many designers are willing to talk, given the right circumstances. In my years of business, I have spoken to hundreds of designers. Some of them have called me out of the blue, just to connect with me.

      When you are connecting with others, it is important to bring something valuable to the table when you call. You can’t enter into a conversation, and ask for something, without being prepared to give something back. Be ready to answer any questions the other person has. Or perhaps you need to send a small gift. Remember, the information others give you is a privilege, not a right.

      For greater success, try connecting with someone who operates a business in another far-off state or province. It might make it easier to build trust between you. This way you avoid the suspicion he or she might have that you are trying to steal his or her business. Be honest and open with the person, and he or she will likely return the favor. Remember to be respectful of the information he or she gives you. If the person doesn’t want to share everything with you, that’s okay.

      6.3 Business and coaching groups for entrepreneurs

      One of the best ways to avoid a partnership but still get the guidance and experience of another person is to pay for it. Join a business-coaching program. There are hundreds of business and coaching programs available all over North America. You can join them in person, on the phone, or over the Internet. These sessions can give you plenty of feedback and inside knowledge. You’ll get information on everything from how to do something to examples of past experiences of other professionals. It’s amazing what a 20-minute session with another seasoned professional will do for you and your business.

      6.4 Thought-leadership groups

      Thought-leadership groups give you the ability to coordinate your knowledge and experience with two or more like-minded people to attain your business goals. This is similar in some ways to coaching, but is more informal.

      Thought-leadership groups are made up of people in a similar business situation to yours. In these groups, you informally share your knowledge, experience, and research findings with the other members. These types of meetings are a huge benefit because, unlike the coaching groups, they are unscripted. They often don’t follow a structured plan, but they can provide immediate real-world feedback. If you are having troubles in collecting fees, for instance, you can ask others in your group what they have done, and the kind of success they’ve had doing it their way.

      Some local business groups may run these types of meetings in your city. In many cases, these groups are free to attend or have low joining fees. Your local Chamber of Commerce might know of such a group in your area.

      If you want a group exclusive to design business owners, why not start your own? Look around for other people who own a business similar in size and structure to your own and approach them with the concept. Design the meetings so they are easy to have, and so that the members can easily connect with each other, and you’ll have greater success. A meeting could be a gathering at a coffee shop, or in someone’s home or office. Meetings could also be held through conference calls. There are many free conference call services available that allow you to have as many as ten people on the line for no cost. You can even record your discussions and distribute the recordings to the group.

      With all that said, I understand that any of these solutions may still fall short of the benefits you feel you might get from a real partnership. That’s because the motivation to avoid doing it all yourself is a strong one. Just remember there are a lot of cautions to consider. If you really have to have a partner for your business, do yourself a favor and take the partnership contract and lawyer route that I’ve outlined in this chapter. Spell it all out right down to the penny if you can. You’ll be better off in the long run if you do.

      Part II

      SETTING UP SHOP

      4

      Setting up Your Business Structure

      Now that you have an idea of your ideal business mind-set, there are some behind-the-scenes things you will need to address before you can start designing. This chapter discusses what you’ll require when starting your business.

      1. Types of Business Structures

      One of your first tasks will be to decide what structure you will choose to operate your business. Chapters 2 and 3 discussed some of the pros and cons of working solo and in a partnership. This chapter will cover more details of the legalities of these business structures as well as discussing your other options — limited liability company (LLC) and corporation.

      In the US and Canada the business structures are slightly different. For example, in the US you have the choice of sole proprietorship, partnership, limited liability company (LLC), corporation (C corporation), or an S corporation (Inc.). In Canada, you have the option of creating a sole proprietorship, partnership, or incorporating your business. These business structures are outlined in general terms in this chapter to provide you with a broad concept of your choices. To understand these business structures, it is a good idea to read specialized books about legal business structures to help you decide which structure is best suited to your business.

      It’s important to consider which business structure works best for you because things such as legal obligations, taxes (and the way you pay them), and your ability to build financial equity are all affected by the business structure you select. It’s important to note here that there is no right or wrong answer to which structure works best or which you should choose.

      It’s best to get some counsel from your accountant before you choose a business structure. Tell him or her your vision for the company and the type of lifestyle you want in your business. Your accountant can help you make the best choice for what works best for you at this moment. Don’t worry about being locked into your decision either. If at a later date you want to change your business structure, you can. The following sections give you more information on different business structures.

      1.1 Sole proprietorship

      A sole proprietorship is what your company is by default. If you don’t organize your business in any formal way, you will be considered a sole proprietor. This is the simplest business structure you could choose for your business because there is no business apart from you the proprietor (owner of the business). Essentially all the assets (i.e., items that have a value attached to it) and liabilities (i.e., debt and other responsibilities) of the company are also attached to your personal assets and liabilities. They are seen as one and the same thing in your business.

      The nice thing about choosing this business structure is that there isn’t any complicated paperwork to complete. However, many states and municipalities do require that you register your business.

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