For many years I've talked to a variety of design entrepreneurs about the realities of running a successful business in today’s competitive marketplace. Design entrepreneurs work on a diverse range of services and products, but their day-to-day work lives have a lot in common. Through personal anecdotes and real life experiences I will cover everything from what makes a design entrepreneur unique to the traits and tools you will need to become a successful design entrepreneur.
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ENTREPRENEURSHIP
What is an Entrepreneur..?
What Makes Them Unique?
Where Does It Start From..?
What is it Going to Take for you
to Join the Club?
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ENTREPRENEURSHIP
“Nobody talks about entrepreneurship as
survival, but that's exactly what it is and
what nurtures creative thinking”.
Anita Roddick, founder of The Body Shop
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DESIGNERS MAKE GREAT ENTREPRENEURS,
THEY JUST DON'T KNOW IT YET
Passion is just design…then maybe you don’t start a company.
Passion is the process around designing - problem solving…then well-suited for
entrepreneurship.
Designers design …entrepreneurs
aren’t amazing at any one thing.
Design not just about how it
works, it's about process of how
get it to work.
Designers and entrepreneurs
commonality – Problem Solving.
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DESIGN – HOW IT WORKS
Steve Jobs --"Design is a funny word. Some people think
design means how it looks. But of course, if you dig
deeper, it's really how it works.“
Design is not just about how it works, it's about the process of how you
get it to work. And that's what entrepreneurship is all about.
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WHAT IS IT GOING TO TAKE FOR YOU
TO JOIN THE CLUB
Build a sense of meaning and purpose………..
Define Success
Be ready for hard work
Innovate- product or process
Build a team
Create barriers of entry
Have a plan
Just do something about it………
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8 TRAITS OF SUCCESSFUL ENTREPRENEURS
1. Strong leadership qualities
2. Highly self-motivated
3. Strong sense of basic ethics and integrity
4. Willingness to fail
5. Serial innovators
6. Know what you don't know
7. Competitive spirit
8. Understand the value of a strong peer network
Do you have what it takes?
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HOW TO BE A DESIGN ENTREPRENEUR
1. Make a Business Plan.
2. Let focus be a priority.
3. Find another way to make some cash.
7 tips to keep in mind:
4. Don’t do it all by yourself.
5. Master one form of Marketing.
6. Define “Success.”
7. Take a break!!!
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1. BUSINESS PLAN
Clearly articulating short - and long-term goals.
Create objectives that are consistent with big-picture objectives.
State business goals and
measurable objectives to
determine achievement.
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2. LET FOCUS BE A PRIORITY
Keep eye on company's long-term Vision…greater purpose for
which your business exists.
Company’s “Mission” - broader ideal guiding each specific
actions. For example…
Creating greatest possible benefit for environment
Greatest possible profit
Helping people live better
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2. LET FOCUS BE A PRIORITY (CONTINUED)
Vision: “TO ENHANCE THE HUMAN CONDITION”
Mission: To create an inspiring experience through the built
environment that uniquely enhances the lives of our client, our
employees, and our community.
Core Competencies -”PAL”
Professionalism
Authenticity
Leadership
INTEC GROUP’S FOCUS
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3. FIND ANOTHER WAY TO MAKE SOME CASH
Most new design businesses do not make much money at first, so
you'd do well to figure out some other method of paying the rent-
especially if it complements your design enterprise.
Understand:
Cash Flow
Financial planning and strategy
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4. DON'T DO IT ALL BY YOURSELF
Know your weaknesses, be clear on what you can and cannot do,
and break the habit of doing everything yourself.
It's a fine balance - knowing when to do it yourself and when to
bring in experts.
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5. MASTER AT LEAST ONE FORM OF MARKETING
Max Lipsey suggests learning to take high-quality product photography.
Laurene Leon Boym is active on social-media channels.
Jonathan Olivares prefers good old-fashioned face-to-face networking.
Designers should do all of these
things—but, at least, put serious
effort into one.
If you can't keep up, see #4 above.
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6. DEFINE “SUCCESS”
Do you want growth, remain small, want shareholders?
Qualitative benchmark measures.
Is company growing and maturing according to long-term vision.
Strategic goals - sustainable…implementation cost-effective and
manageable to avoid early employees burn out..
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7. TAKE A BREAK!!!
Starting new business exciting, but it's easy to work 23-hour days.
Need to take time to get away from their businesses sometimes.
Isn't balance with startups; critical to take few days out of office.
Take care of yourself.
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WHAT WE ARE DOING
Strategic Plan
Vision, Mission, Core Values
Re-Branding
Employee skill and capability diversity
Consultants to augment firm’s capacity
and capabilities
Continues individual development
Employee mentoring and coaching
Setting expectations and hold individuals accountable
Willing to make the hard decisions
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WHAT WE ARE DOING
Changing the Culture –
Changing the Game
Meeting the Growing Challenge
Realign with your Market
Hire your Senior Management
Understand your Model
Raise your Money
Design Excellence-Pushing design
innovation while listening our
clients.
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7 “QUOTES” ENTREPRENEURS SHOULD LIVE BY
“Courage is being scared to death….and saddling up anyway.”
- John Wayne
“Whether you think you can, or think you can’t….your
right.” – Henry Ford
“By failing to prepare, you are prepared to fail.”
- Benjamin Franklin