Starting your own interior design firm is a big undertaking and requires a lot of dedication and hard work. Before getting started, it’s important to make sure that you’re prepared. You’ll need to have a business plan, including a budget and timeline, as well as a marketing strategy.
When you start your own business you wear all the hats; IT department, bookkeeper, marketing department, social media guru, accountant, not to mention interior designer. You’ll also need to have some projects under your belt in interior design and have a portfolio of your work to show potential clients. It is important to have an understanding of the business of interior design in addition to the design aspect. Lastly, you’ll need to have a clear vision for your business and be ready to take risks and make sacrifices in order to make it successful. Starting your own interior design firm is a challenge, but with the right preparation and mindset, and support it can be an incredibly rewarding experience.
Experience and Drive
Working for yourself will be more hours, more work, and more expensive than working a 9-5 for someone else. It will also be more rewarding, you have more control, and the chance to earn more than a 9-5. Experience is a tough nut- no one will hire you without it, but you need it to get started. If you’ve been working a few years or more then you’ve already got projects to show and lessons learned you can apply. But if you haven’t, then you’ll need some. You can work under another designer and learn some skills. You can offer to work for friends and family at a reduced rate, or you can work a 9-5 for a while to gain the necessary knowledge. There will never be a perfect time, but you’ll know when it feels right. You need a fair amount of thick skin and determination when starting your own business. Failure is ok. The most successful people out there, it’s not that they didn’t fail it’s that they kept trying. Go easy on yourself. If you want it bad enough you’ll find a way.
Organization and a Plan
A business plan. Not sure how to write one? There are lots of examples on google. This doesn’t have to be a novel but it should have the top 7 points:
- Executive Summary.
- Company Description.
- Products and Services.
- Market analysis.
- Strategy and Implementation.
- Organization and Management Team.
- Financial plan and projections.
Once you get started on this, know that it will change over time, but having it written down out of the gate is your first step.
Funds
I started with $1000 in my account and hit the ground running. The old saying ‘you have to spend money to make money’ is true. Make sure you have the funds to cover your first 6-12 months’ expenses. You’ll need funds for websites, accountants, a computer, a printer, and business cards. Make a list of the things that are a necessity and those that can wait. You can barter with others at this time too- maybe design help for their website design. Get creative! As a designer, I know you are! Do your research, and hire an accountant first. Taxes and business expenses should be at the top of your list.
Your Niche
Who will you be serving with your designs? If you answer anyone that will hire me, then that’s too broad. You’ll end up frazzled and all over the place. Specifically deciding who you will serve should be something you seriously consider before you take the plunge of opening your own firm. You can look back at past clients or projects and look for repetition. Maybe you want to serve doctors that work long hours, parents that work with school-aged children, empty nesters that are downsizing, or bachelors that live in high rises. The possibilities are endless! Once you know who you are talking to, you can focus your energy on reaching them.
A Website
I get asked this all the time- “Do I need a website?” Yes, you do. If you were going to hire a company and went to research them online and they didn’t have a website, would you still consider hiring them? My guess is no. Your site doesn’t have to be crazy, but it shows you exist, are legitimate, and gives potential clients a place to see examples of your work and get to know who you are as a designer before they contact you. This saves you time, as they are pre-qualified by the time they do reach out. You should have the following on your site
- Pictures of your work
- The pricing structure for projects
- How to contact you- a form to fill out is best, but can also list your phone number
- Who you are and you mission or value you bring to the project
- Picture of you
Feeling frustrated always working in someone else’s design business can really wear on you! If you read all these and are feeling ready to start out on your own- congrats! It’s exciting and overwhelming all at once. Having a coach on your team is a great way to sidestep some of those failures, have constant support, and work through that nasty imposter syndrome that always sneaks its way in!
If you are ready for your own business and ready for support, I invite you to join Manage Your Design Business, aka MYDB. In this program, you will have access to a library of resources, as well as a private Facebook group of peers, group coaching, and 1:1 coaching. Join here!
