StagesLifecycle Final

7/24/2019 StagesLifecycle Final

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Life StagesOFANINTERIORDESIGNBUSINESS


2/38

START UPMARKETING PLANNING FINANCE OPERATIONS& HUMANRESOURCES ORGANIZATIONALSTRUCTURELEGAL


3/38

START UPMARKETING

PLANNING

FINANCE

OPERATIONS& HUMANRESOURCES

LEGAL

ORGANIZATIONALSTRUCTURE

ASIDRESOURCES

Assessing the market / dening your niche or opportunity

Creating your brand business name / trademark issues / image

Creating business collateral / marketing materials

Creating and launching a website / social network site

Joining organizations and/or determining venues for networking


4/38

MARKETING

PLANNING

FINANCE


LEGAL


Assessing your skills, abilities and personality

Evaluating desired work/life balance

Assessing your competition

Developing a business plan & strategic plan

Identifying advisors (legal, accounting, taxes, nancial planning, management, etc.)

Developing a technology plan

START UP

ASIDRESOURCES


5/38

MARKETING

PLANNING

FINANCE


LEGAL


Determining how much capital / securing capital youll need

Setting up bank account(s) / establishing relationship with bank(s)

Establishing line(s) of credit

Opening credit card accounts for the business

Setting up accounts with vendors / suppliers

Setting up bookkeeping system

Securing licenses / tax i.d. number(s)

Getting necessary insurance

Obtain business license(s)

START UP

ASIDRESOURCES


6/38

MARKETING

PLANNING

FINANCE

OPERATIONS& HUMAN

RESOURCES

LEGAL


Purchasing software / setting up utilities

Setting up payroll (if not sole proprietorship)

Dening roles and responsibilities (if not sole proprietorship)

Developing policies (if not a sole proprietorship) / manuals

Identifying resources for outsourcing / collaborating

START UP

ASIDRESOURCES


7/38

MARKETING

PLANNING

FINANCE


LEGAL


Determining and establishing legal entity

Obtaining and reviewing contract documents

START UP

ASIDRESOURCES


8/38

MARKETING

PLANNING

FINANCE


LEGAL

ORGANIZATIONAL

STRUCTURE

Determining your vision and business goals

Articulating your business values

START UP

ASIDRESOURCES


9/38

GROWTHMARKETING PLANNING FINANCE OPERATIONS& HUMANRESOURCES ORGANIZATIONALSTRUCTURELEGAL


10/38

GROWTH

ASIDRESOURCES

Cultivating referrals / lead development

Growing your brand

Raising your prole (writing / speaking / showhouses / volunteer and charity

work, etc.)

Expanding your network

MARKETING

PLANNING

FINANCE


LEGAL



11/38

MARKETING

PLANNING

FINANCE


LEGAL


Reviewing and revising your business and strategic plans

Establishing business systems

Expanding your planning inputs and resources

Determining how to scale your business

Making time to work on your business

GROWTH

ASIDRESOURCES


12/38

MARKETING

PLANNING

FINANCE


LEGAL


Managing cash ow

Determining prot and personal earnings

Leveraging capital and credit

Collecting and paying taxes

GROWTH

ASIDRESOURCES


13/38

MARKETING

PLANNING

FINANCE

OPERATIONS& HUMAN

RESOURCES

LEGAL


Recruiting, hiring, training and retaining employees

Setting up payroll

Determining compensation and benets / prot sharing

Contributing to Unemployment Compensation and Workers Compensation Insurance

Selecting insurance plans / retirement plans for employees

Dening roles and responsibilities

Developing HR policies / manuals / contracts

Managing staff

Setting up or expanding ofce space leases, furniture, equipment, software, etc.

Controlling overhead

GROWTH

ASIDRESOURCES


14/38

MARKETING

PLANNING

FINANCE


LEGAL


Deciding whether to partner / add partners

Managing contract negotiations and obligations

GROWTH

ASIDRESOURCES


15/38

MARKETING

PLANNING

FINANCE


LEGAL

ORGANIZATIONAL

STRUCTURE

Inculcating your vision and business values

Developing / enhancing leadership / delegating skills

Anticipating and integrating cultural change

GROWTH

ASIDRESOURCES


16/38

ESTABLISHEDMARKETING PLANNING FINANCE OPERATIONS& HUMANRESOURCES ORGANIZATIONALSTRUCTURELEGAL


17/38


18/38


Monitoring trends

Exploring future scenarios

MARKETING

PLANNING

FINANCE


LEGAL


ESTABLISHED

ASIDRESOURCES


19/38

Fine tuning cash ow

Maximizing protMARKETING

PLANNING

FINANCE


LEGAL


ESTABLISHED

ASIDRESOURCES


20/38

Developing staff

Planning for advancement / partnerships / succession

Increasing productivity

Improving efciency / process improvements

Rening business practices

Increasing automation and outsourcing of routine tasks

Managing overhead

MARKETING

PLANNING

FINANCE

OPERATIONS& HUMAN

RESOURCES

LEGAL


ESTABLISHED

ASIDRESOURCES


21/38

Minimizing disputes, claims, collections, etc.MARKETING

PLANNING

FINANCE


LEGAL


ESTABLISHED

ASIDRESOURCES


22/38

Managing change

Developing leaders

Maintaining a competitive edge

MARKETING

PLANNING

FINANCE


LEGAL

ORGANIZATIONAL

STRUCTURE

ESTABLISHED

ASIDRESOURCES


23/38

TRANSITIONMARKETING PLANNING FINANCE OPERATIONS& HUMANRESOURCES ORGANIZATIONALSTRUCTURELEGAL


24/38


25/38


Monitoring trends / economic developments

Exploring future scenarios

MARKETING

PLANNING

FINANCE


LEGAL


TRANSITION

ASIDRESOURCES


26/38

Creating new sources of revenue (e.g., product lines, furniture)

Managing cash ow and capitalization for expansionMARKETING

PLANNING

FINANCE


LEGAL


TRANSITION

ASIDRESOURCES


27/38

Integrating staff (merger or acquisition)

MentoringMARKETING

PLANNING

FINANCE

OPERATIONS& HUMAN

RESOURCES

LEGAL


TRANSITION

ASIDRESOURCES


28/38

Growing through merger or acquisition

Engaging in joint ventures / partnershipsMARKETING

PLANNING

FINANCE


LEGAL


TRANSITION

ASIDRESOURCES


29/38

Integrating organizational cultures (merger or acquisition)

Integrating professional cultures (new lines of business, diversication, new

sources of revenue)

MARKETING

PLANNING

FINANCE


LEGAL

ORGANIZATIONAL

STRUCTURE

TRANSITION

ASIDRESOURCES


30/38

MATURATIONMARKETING PLANNING FINANCE OPERATIONS& HUMANRESOURCES ORGANIZATIONALSTRUCTURELEGAL


31/38

MATURATION

ASIDRESOURCES

Reassess market / opportunity

Reassess competition

Manage perceptions of declining competence / value

Referring clients

MARKETING

PLANNING

FINANCE


LEGAL



32/38

Maintaining a strategic sales plan

Evaluating next steps for business (expand or exit?)

Developing an exit plan (when and how)

MARKETING

PLANNING

FINANCE


LEGAL


MATURATION

ASIDRESOURCES


33/38

Coping with cash ow challenges

Cutting costs

Protecting value / investment

Getting a valuation to determine what your business is worth

Tax strategies for selling the business

MARKETING

PLANNING

FINANCE


LEGAL


MATURATION

ASIDRESOURCES


34/38

Downsizing

Selling inventoryMARKETING

PLANNING

FINANCE

OPERATIONS& HUMAN

RESOURCES

LEGAL


MATURATION

ASIDRESOURCES


35/38

Dissolving the business as a legal entity

Finalizing tax obligationsMARKETING

PLANNING

FINANCE


LEGAL


MATURATION

ASIDRESOURCES


36/38

Anticipating and coping with psychological impact on owners and employeesMARKETING

PLANNING

FINANCE


LEGAL

ORGANIZATIONAL

STRUCTURE

MATURATION

ASIDRESOURCES


37/38

GENERAL| Publications

Designing Your Businessby Gordon T. Kendall.

Fairchild Publications, 2005.

A Guide to Business Principles and Practices for Interior

Designers: Revised Editionby Harry Siegel, CPA, with

Alan M. Siegel, Esq. Watson-Guptill, 1982.

How to Start and Operate Your Own Design Firm, Second

Edition: A Guide for Interior Designers and Architectsby

Albert W. Rubeling, Jr., FAIA. Allworth Press, 2007.

The Interior Design Business Handbook: A Complete Guide

to Profitability, 4th ed.,by Mary V. Knackstedt, FASID,

FIIDA. John Wiley & Sons, 2006.

Interior Design Handbook of Professional Practiceby Cindy

Coleman (ed.). McGraw-Hill, 2001.

Interior Design in Practice: Case Studies of Successful Busi-

ness Modelsby Terri L. Maurer, FASID, and Katie Weeks.

John Wiley & Sons, 2010.

Professional Practice for Interior Design, 4th ed.,by

Christine Piotrowski, FASID, IIDA. John Wiley & Sons, 2007.

GENERAL| Websites

Design Business Benchmarking

www.designbusinessbenchmarking.com

Design Success University www.designsuccessu.com

Design Biz Blueprint www.designbizblueprint.com

Designing Prots www.designingprots.com

Education-works www.education-works.com

Interior Design Business www.interiordesignbusiness.net

SCORE www.score.org

U.S. Small Business Administration www.sba.gov

Your Business Library www.yourbusinesslibrary.com

MARKETING| Publications

How to Get Your Work Published(ASID)

Know Your Client(ASID)

Marketing and Client Relations for Interior Designersby

Mary V. Knackstedt, FASID, FIIDA. John Wiley & Sons, 2008.

Marketing Basics for Designers: A Sourcebook of Strategies

and Ideasby Jane D. Martin and Nancy Koohuizen.

John Wiley & Sons, 1995,

Marketing Interior Designby Lloyd Princeton.

Allworth Press, 2009.

MARKETING| Presentations

Business Etiquette and People Skills (UNi)

Effective Public Relations (RV)

Know Your Client (UNi )

Market Research (UNi)

Presentation Skills (RV)

Sales Tips for Women (ASID Web Event)

Winning Proposals (RV)

PLANNING| Publications

Analyzing Your Own Business or One You Want to Buy

or Invest In(ABL)

Environmental Scanning Report(ASID)

Interior Design Billings & Inquiries Index (ASID)

Profiling and Presenting Your Company to the World(ABL)

Selling Your Business: How to Negotiate the Best Deal(ABL)

PLANNING| Presentations

Business Planning for New Designers (UNi)

Strategic Planning & Budgeting (RV)

For additional information and links to online resources, go the

Practice & Businesssection of the ASID website at www.asid.org.

SELECTED RESOURCES ASID ASID website (www.asid.org)

UNi ASID online education (www.asiduni.org)

ABL ASID Business Library (@ www.asid.org)

RV Red Vector (www.redvector.org)


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FINANCE| Publications

20 Ways to Build Your Retirement Fund(ABL)

50 Strategies to Increase and Manage Your Cash Flow(ABL)

Assessing a Business Health and Profitability(ABL)

Cash Flow: Know Its Value When Buying, Selling, or

Expanding(ABL)

Estimating for Interior Designersby Carol Sampson.

Watson-Guptill, 2001.

The Interior Designers Guide to Pricing, Estimating and

Budgetingby Theo Stephan Williams. Allworth Press, 2005.

Your Investments: 44 Action Alerts to Use Today and

Throughout the Year(ABL)

FINANCE| Presentations

Accounting and Cash (RV)

Financial Controls, Monitoring & Project Budgeting (RV)

Pricing as a Professional (RV)

Pricing for Prots, Generating Cash and Getting Paid (RV)

Prot & Loss (UNi)

OPERATIONS & HUMAN RESOURCES| Publications

Employment Contracts: When to Offer and What

to Include(ABL)

Renting and Leasing Properties: For Both Tenants and

Landlords(ABL)

Your Compensation, Benefits, and Retirement Money(ABL)

OPERATIONS & HUMAN RESOURCES| Presentations

Controlling Labor Costs (RV)

Developing a Succession Plan (UNi)

How to Handle Customer Conict (RV)

Insurance Coverage Disputes (RV)

Partnering for Design & Construction Projects (RV)

Rewards, Recognition & Motivation (RV)

LEGAL| Publications

ASID Contract Documents (residential & commercial)

Business and Legal Forms for Interior Designersby

Tad Crawford. Allworth Press, 2001.

LEGAL| Presentations

Contract Guide for Design Professionals: Intermediate (UNi

Avoiding Design Malpractice Claims (UNi)

Arbitration or Mediation (UNi)

Negotiating Contracts (RV)

ORGANIZATIONAL CULTURE| Presentations

Art & Science of Delegation (RV)

Delegation: The Art of Leading Others (ASID Web Event)

Team Building (RV)

Understanding Organizational Change (RV)

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