5 Strategies to Strike a Balance Between Designing and Managing Your Business

Freelance designers enjoy a variety of benefits above and beyond agency-based professionals: the ability to make their own work schedules, the privilege of choosing only the most fascinating projects and the luxury of setting their own fees, just to name a few.

On the downside, freelancers must singularly manage the business side of running their own operations--a skill few are adept at handling. The business aspects of design can be quite a challenge, particularly when the ivory halls prepare you for designing--and little else. To the end, you must accumulate a certain level of business acumen to keep your pipeline full of leads and your books balanced.

1. As a Novice, Learn the Lifecycle of the Project.
Craig Elimeliah of the AIGA emphasizes the advantage that designers possess when they understand all parts of the design process. Appreciating the role of editors, accountants and other support personnel only adds to your perspective--you become a pleasure to work with.

2. When You're Ready to Make the Jump, Make a Plan.
According to Bob Nicholl, blogger with Graphic Design Forum and Design Today, creating a solid business plan helps you in several unique ways. First, it makes your business goals tangible--a mission you can actually see. Second, it impresses potential investors who might be looking to support a design business that is structured for success.

3. Set Aside Marketing Time--and Stick to It!
Nicholl reveals that the number one reason graphic designers run out of businesses is because they fail to make marketing a standard part of their business operations. Not only should marketing take place at some point during every day, it should be viewed as an opportunity instead of a chore.

4. Create a Solid, but Flexible, Pricing Guide.
Nicholl reminds freelancers that having a pricing guide eliminates much of the back and forth about pricing. It shows potential clients that you know what your services are worth and that you're not trying to squeeze every dollar from a budget they're likely not to reveal.

5. Automate Your Processes at Every Opportunity.
Web-based accounting systems create and delivery invoices automatically. You can clock hours worked and make changes on the fly. These Internet business support programs can easily save you hours of mundane operating tasks each week.

These five steps alone most likely won't solve the litany of challenges you'll face from day-to-day. But they will streamline your processes and perhaps lessen those challenges over time. The bottom line is, have a plan for everything and you'll very rarely be surprised.