Business Plan?
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- Scotch_Roman
So I was advised to write a business plan for my 2 month-old studio. I'm 8 pages into it and wondering if this is a daft exercise for a designer. I mean, I know how to market myself for crying out loud. I don't need to do market research and show stats since probably no one outside of myself will ever read it. I don't see what use there is in writing it all down, especially since I'm not trying to get a loan or anything.
Anyone here ever written a business plan for a design studio? Was it useful?
- Corvo20
Not for a design studio - but I think the main idea is to set financial goals or growth expectations and then trying to dispose or antecipate the necessary means to achieve them. This may help in defining what a studio needs besides doing the job itself. Also, swot analysis can be very nice and applies to almost everything - even design. As for market research, I would agree, since you're probably not trying to assess competitors and new niches. Unless you decide to find new niches, of course.
- zarkonite0
Maybe you can define your business processes, how you want to split the profit/income ratio, set some objectives for income or work, milestones, etc.
Given what you've said tho I wouldn't bother with the market research and positioning of your business if you don't feel it's necessary. You could just make a list of other shops in town and classify them as enemies or places you could work with...
- iCanHazQBN0
just use god's plan. what? is that not good enough for you anymore???
- toucheKwesiJ
- bugger off.Scotch_Roman
- oh go wear a tin hat.iCanHazQBN
- gabe0
it doesn't seem important at the time, but trust me, it is. for one thing, it forces you to articulate a vision; that is, what type of company you are, what clients you hope to win, what kind of work you want to produce, what your specialties are, etc.
you don't build a house without blueprints, and that's what your business plan should be: a set of blueprints. once you can illustrate what type of company you're going to be, it's a lot easier to build it to spec.
it's important to do it now and refine as you go. if you wait too long, you'll get consumed by working IN the company (doing the actual work) rather than ON the company (building the business).
while you're at it, and if you're serious about starting a studio, outline your processes, dos and don'ts, how you like your coffee, and anything else you can think of that might be important for future employees to know.
- KwesiJ0
i think you need a business plan because its a business right? it just doesn't have to be what you think a business plan is, it can be as simple and personal as you want so long as it articulates purpose and goals and how you conduct yourself. helps you no matter what, then when you haaave to have one for whatever reason its a matter of making it proper.
- Peter0
Careful with the naming
http://www.plc.co.jp/bizex/index…
- Hurley0
why would you waste your time writing a business plan if you arent looking for investors or serious partners?
- airey0
i'm 3 years in and only looking at one now. they're a good idea for you to be able to start looking at financial goals, business growth, etc. it doesn't need to be a 80 page affair for a one stop shop though, and it'll change all the time. it's more to get you considering thye side of things that you may not usually - the actual business of the business rather than the work side of the business. i wish i'd pulled my finger out earlier with it personally.
- Scotch_Roman0
Interesting. Good to hear, gabe and airey.
BTW I have been functioning as a one-man design shop for a couple months now. I guess part of the problem I've been having is that I've tried to be somewhat slavish to the business plan template I downloaded (not the design of it, but rather the content). It seems a good 50% of these questions are irrelevant for a design practice, at least for a small one like me.
The only partner is my wife, who will take on the business management side once I have enough work to keep her busy.
- airey0
i bought this to help. just a simple approach for a simpleton like myself.
http://www.amazon.com/Business-P…
- ninjasavant0
I write business plans constantly for work. Read Bankable Business Plans, best book I've read on the subject.