Keys That Click - Minding your own design business and other observations

Posted in Business, on December 4th, 2009 by Carlos.

So you’ve been dabbling with this some freelance work on the side but are otherwise fully employed at a job that pays well, has benefits and gives you security. Yet there’s a nagging feeling that you should be trying something out on your own. Are you crazy? Perhaps. Bonkers? Probably. But I think it takes a little bit of that to make that break and go it on your own. The results though can be simply amazing with hard work, a little luck and more hard work.

Several months before I was looking to go all-in with my design business I had the pleasure of attending an AIGA Conference in Denver, Colorado. I was completely amazed by many of the speakers’ abilities to non-chalantly say that they quit their jobs and starting to work for themselves at age x, y or z. I couldn’t believe that something as profound as quitting their jobs to start their own businesses could simply be made a footnote in the grand scheme of their careers. After only 1.5 years of being self-employed however, I started to find I was doing the same thing when talking to friends, clients or family about my experiences. I think the reason is that I know I made the right decision, so now it looks like a no-brainer, but I’ll tell you it was anything but when I was contemplating it.

Here are some tips that I’ve prepared based on my own experiences:

• Build a client base – find new clients to start building a foundation to which to grow from. You would be surprised to find how accommodating people can be to your part-time status.
• Build your brand – start to develop your brand, website, business cards, etc. You’ll find its easier when you have some free time, rather than when you are trying to juggle two jobs and a life! Read this article for more.
• Set a schedule – Set a schedule of when you can do work for your clients. I would often meet clients in the early morning before heading off to my job, and then spend evenings doing the work.
• Set aside some space – set aside some space in your home that you can use as an office, preferably something with a door so you can separate your work from your home life. Start treating it like a place of work to get you in the right mindset.
• Set goals and write them down – it sounds like a big pain in the butt, but seeing on paper what you plan to do with your business really helps to put things into perspective. Be realistic on your current living expenses and the amount of money your business needs to bring in order to make it sustainable. Model different scenarios, including the worst case scenarios, so you can see if you are comfortable with the potential of losing money. If you aren’t, think about whether or not this is right for you.
• Invest in your business – use the money you are earning from your existing clients to put into equipment, software, office supplies for your business. That way when you are on your own, you can focus your money on other essential things like food and housing!
• Save – use the money you are earning from your job on a regular basis to save for a rainy day, because it is quite possible that there will be several. It’s easier to save when you know the money is going to be there.
• Remember who your boss is – remember you still work for someone and you have to respect that and give them your full attention and support. Don’t mix your business with your employer’s business. Keep it separate as best you can, including not using their resources to conduct your business.
• Leave on good terms – don’t burn bridges. Seriously. Leave on good terms and offer to make the transition as easy as possible for them. You never know, your current employer could always be a future client!
• Ask for help – ask your family, friends, other entrepreneurs for help. Also – get professional help from accountants, lawyers etc. Their advice and support will be invaluable!
• Enjoy – Do what you like, but like what you do!

Even with writing this entry I realize how I’ve oversimplified my explanation of the entire process. Quite frankly, I could write a novel about it, and well… a lot of people have. Its not an easy decision to make, but like I said, it can be extremely rewarding if you do it right and have a little bit of luck.

Leave your comments on your experiences about leaving your job to start a business!

* For the love of all things good, please don’t quit your job if you aren’t ready. These are just my experiences that may or may not help you in making your decision – don’t go doing anything rash!