As traditional employment options disappearing because of the economic downturn, more and more job seekers are moving towards starting up a home business, which includes freelancers, independent contractors and other forms of self-employment. When starting a freelance design business the natural primary concern is how to find clients and to start getting paying work. While this is necessary in order to achieve success as a freelancer, there are a lot of other details that need to be considered as well. The goals that you have will impact how you go about marketing your business, and even how you set it up. Here the tips for early stages of a freelance design business and what aspects can have a significant long-term impact.
Know Your Goals and Priorities:
The first thing to consider when you set priorities is to determine what your goals and priorities are. Set goals that relate to the high priorities in your life. Career wise, a long term goal may be to set up your own business so that you can achieve your financial goal of becoming financial independent. Our long-term goals should have a timeline of about three to five years. Once you’ve decided on your goals and priorities, work on their clarity.
Register Your Business:
Freelancing businesses encompass so many different types of fields, and some are certain to require professional licensing, certificates or special training . To eliminate the element of risk, and depending upon the scale of your business, you should get your business registered. It will provide you with the security of operating your business in a rightful and legal manner.
Have Savings Set Aside to Fall Back On:
If your work at home business or job is generating some profits, you might be thinking about setting up a long term savings plan to roll some of that money into secure funds for your future. Saving is almost always a good idea, and if you can afford it, you’ll find your long term savings is sure to come in handy, either as an emergency fund for dealing with unexpected situations, or as an asset that you can grow over time.
Building up a Portfolio:
Your portfolio site will be one of the most important marketing materials and it will also serve as the face of your business that typically makes the first impression on potential clients. It’s important to have a portfolio site that is attractive and user-friendly, as well as to have high-quality work that is being shown in the portfolio.
Open a Business Bank Account and Hire an Accountant:
Open a separate bank account for the business to keep track of incomes and expenses from your new business solely. If you are starting the business long term, eventually you’ll start with the management of money, to keep a track of in-comings and outgoings, and that accounting is not the strongest part of a designer. And even if it is, you should give it over to a professional who will do all this work effectively.
Have Legal Documents Prepared:
Running a freelance business will require some legal documents like contracts to be signed by you and your clients, as well as other documents like non-disclosure agreements. You can either hire an attorney to draft the documents that you will need frequently, or you can find some examples available online that you can use.
Establish Policies and Procedures:
Keep your business’s basic procedures and policies well documented. Well-written policies and procedures bring structure to any business, no matter what the size. Policies and procedures, or documentation that outlines the organizational and operational structure of a company, are essential to the health of a business. Policies and procedures not only identify successors, they lay out long-term goals and processes by creating structure through rules and guidelines, thereby making a succession transition easier.
Focusing on Client Satisfaction:
The goal is not to maximize customer satisfaction or customer loyalty, but to optimize customer satisfaction and customer loyalty. The more you focus on customer retention and customer support, the more long-term business you’ll get. It’s worth it to focus on customer satisfaction strategies, no matter how large or small your company is.