Criteria for running a succesfull design studio/agency
Out of context: Reply #6
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- monNom0
1. Do good work - not even a criteria. Being able to SELL work is all that matters (unfortunately)
2. Have a partner or partners - just because? Never partner with someone you can hire/replace. Only partner with someone who's so incredibly additive to the organization that it makes up for all the headaches of having to deal with a partner... think of it like marriage, it pretty much is.
3. Enough money to start - yes, but you need to build cashflow as soon as possible, otherwise you're not in business, you're just spending money.
4. Have a great team / hire the best people - this will come with time. Focus on building cashflow so you can afford good people. The best people aren't always the most expensive. but they almost never come cheap.
5. Networking / knowing a lot of people - this is almost a byproduct of getting out there and selling. You might not have a network right now, but if you start trying to sell yourself, you'll build it pretty fast.
6. Marketing - that's a pretty broad topic, not really a line item. This is pretty much the whole business other than the work you bill for.
7. Branding of the studio or agency - yes, but not that important
8. Cash flow - will come with sales/marketing work, most important bit to having a 'business'
9. Country or region - be close to your clients. Meet them in person.
10. Have a lawyer - rarely necessary and incredibly expensive. You can probably skip this one for the near-term if you use common sense and clear language in any agreements. If you are going into partnership, definitely hire a lawyer to review agreements you'll sign.