S8 E7: My Design Business Startup Guide (What I Wish I Knew)
Sep 26, 2023
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Learn valuable tips on starting a design business such as legal and financial aspects. Discover the importance of design style and personal branding. Understand the significance of messaging and copy on social media. Nurture leaders in your business and navigate slow seasons. Connect with the speaker and join upcoming workshops.
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Quick takeaways
Consulting with a CPA prior to launching a design business can provide a solid financial foundation and save from potential tax headaches.
Registering a trademark for your business name offers long-term protection and security, preventing others from using the same name or claiming affiliation with your brand.
Deep dives
Importance of Consulting with a CPA
One important aspect of starting a design business is consulting with a CPA prior to launching. This helps ensure that you have a clear understanding of tax liabilities and obligations. By consulting with a CPA, you can learn about estimated taxes, when to switch to an LLC, and determine a suitable salary based on your revenue. This early consultation can save you from potential financial headaches and provide a solid foundation for your business.
The Value of Protecting Your Business Name
Another key aspect of starting a design business is protecting your brand name through trademark registration. While it may not be necessary in the beginning, once you have found a name you intend to stick with, consulting with a trademark attorney can help you navigate the process. By obtaining a trademark for your business name, you can have legal rights to your branding, preventing others from using the same name or claiming to be affiliated with your business. This step can provide long-term protection and security for your brand.
Building Relationships and Proactive Lead Generation
One crucial aspect of running a successful design business is relationship marketing and proactive lead generation. Building genuine connections and friendships with others in the industry can lead to valuable referrals and collaborations. By engaging with potential leads on social media and nurturing these relationships, designers can take control of their lead generation process. Actively reaching out to podcasts, engaging with potential clients, and creating visibility opportunities can help attract quality leads and increase brand awareness.
In today’s episode, Jen walks you through all the things she wish she knew when she started Hello June including legal, finances, style, positioning, client acquisition, mindset and more!
The Shopify Code(x) Watch our Instagram Live answering the questions we didn't have time for in our bonus episode! Watch our FREE Workshop all about the Designer/Developer relationship! We share screenshots of our systems, Lea tells us the details on how to scope and fulfill a $70k project, and we share our insights into what makes a great designer/dev partnership.