In order to be in a position to expand your graphic design firm, you may need to get a loan. This can be better than allowing people to buy equity in the firm. After all, your obligation to the lender ends the moment you repay the loan. But if you allow people to buy equity in the firm, they become lifelong stakeholders in it: forever getting shares of the profits that the firm makes henceforth.
The first step in getting a loan to expand a graphic design firm is that of identifying the financial institution where you intend to take the loan.
The second step in getting a loan to expand a graphic design firm is that of approaching the credit officer in the financial institution you identified, with a request for the credit facility. Before doing this, you may need to get information about the documents that the financial institution requires, before advancing credit facilities. Then you may need to prepare those documents in advance, so that when you go to make a presentation to the credit officer, you get to actually make the right impression.
Ultimately, you are likely to be successfully in getting the loan if you are creditworthy, and if you are a client who consistently does banking with the financial institution in question.
If you are keen on making a graphic design firm profitable, there are two key things that you need to do.
The first thing you need to do, in order to make a graphic design firm profitable is figure out ways of maximizing the firm’s revenues. This may entail undertaking promotional work, so that you get more orders, and so that you earn more revenues. If you already have many orders, this may entail figuring out ways of being more efficient, so that you can generate more revenues.
The second thing you need to do, in order to make a graphic design firm profitable is figure out ways of minimizing the firm’s expenses. This, at its core, entails identifying wastages, and doing away with them (without compromising the business fundamentals).
Note that you need to do these two things simultaneously. If, in a bid to maximize revenues, you don’t check the expenses, you are likely to end up in a situation where the extra revenues you earn are absorbed by extra expenses incurred in a bid to earn them. Conversely, you need to avoid ending up in a situation where, in a bid to minimize costs, you end up shrinking the business, thus messing up with revenue generation. So it is a tight balancing act.
Going through the financial accounts of a graphic design firm, you are likely to find yourself being in a position to deduce certain things.
Firstly, it is easy to deduce, from the financial accounts of a graphic design firm, how much money the firm is bringing in, in terms of revenues.
Secondly, it is easy to deduce, from the financial accounts of a graphic design firm, how much money the firm is spending.
Thirdly, it is easy to deduce, from the financial accounts of a graphic design firm, how much money the firm is making in terms of profits.
Finally, it is easy to deduce, from the financial accounts of a graphic design firm, what portion of its profits the firm is paying out, in terms of taxes. Those are taxes that the government then (presumably) proceeds to expend on the njuifile claims paid to folks after they go to the www.njuifile.net login page, sign in and make new claims (assuming that the firm is in New Jersey). Those taxes are also the funds that the government presumably uses to fund security operations, infrastructure development and so on. This means that the expenditure of funds by the graphic design firm on the taxes is justified like any other expenditure.
Certain cadres of support staff are viewed as necessary in a graphic design company. This is against a background where, in such a company, the designers and other folks who are involved in production are regarded as the ‘core staff’ with all the rest being regarded as ‘support staff.’
One cadre of support staff that are necessary in a graphic design company is that of IT people. But if it is absolutely impossible to hire these, the IT support can still be obtained through remote channels, via www.logmeinrescue.com, or simply via logmein.com. It is quite a straightforward idea.
Another cadre of support staff that is necessary in a graphic design company is that of housekeeping people. Here, we are looking at the cleaners, the tea-girls and so on. Otherwise if the designers are called upon to perform these housekeeping roles, they may feel as if they are being demeaned.
Yet another cadre of support staff that are necessary in a graphic design company is that of administrators. These are the human resource management people (if it is a big company), as well as the front office staff members (the receptionists and so on).
Talking of support staff, it is often necessary, in a graphic design company, to hire marketers (and the role they play is essentially supportive as well).
Like any other business, a graphic design firm needs to have books of accounts maintained. You thus have to deal with the accounting function in a graphic design firm (one way or another).
One way in which you can deal with the accounting function in a graphic design firm would be by doing the day to day accounting/book-keeping work by yourself.
Another way in which you can deal with the accounting function in a graphic design firm would be by hiring a specialist (or a team of specialists) to do it in-house. This would entail setting up a finance department – which may often turn out not to be as hard as it sounds.
Yet another way in which you can deal with the accounting function in a graphic design firm would be by outsourcing it. For instance, with respect to the payroll accounting question, you can sign up for iPay ADP service, whose login page is accessed at at iPay.adp.com. Then, you’d only need to be providing ADP with the necessary data and they do the payroll accounting work for you. Actually, you can take the whole thing a step further, and have ADP collect the necessary data for you: such that you only need to regularly pay for their accounting service, and fund the paychecks.
As a person who runs a graphic design company, one of the key challenges you will need to deal with is that of ensuring that the employees in the company are paid on time.
In order to ensure that the employees in your graphic design company are paid on time, you need to set up a system whose presence ensures that the data that is necessary for calculation of payroll is captured on an ongoing basis. The due pay can also be calculated on an ongoing basis. Then it can be posted online, on a portal similar to the one operated by Macys for the employee connection purpose. That way, any disputes about the numbers can be solved on a day to day basis: thus ensuring that on the payday, the whole thing is just a question of sending money to the employees’ accounts.
Secondly, in order to ensure that the employees in your graphic design company are paid on time, you need to ensure that you set aside money for the payroll, and that you never touch that payroll budget (such that the money is always reserved for the purpose). Otherwise you will find yourself in a situation where you have to start raising money for the payroll on the payday: thus almost certainly delaying the salaries and causing a lot of resentment in the ranks of the graphic design company employees.
Coming up with a good name for a graphic design company is not hard. There are a few guidelines you need to observe though.
Firstly, a good name for a graphic design company would be one that is original. You may have to do a company name search, (at the website of the agency that undertakes company registrations) whenever you come up with any name idea, to see whether or not that particular business corporation name has already been taken.
Secondly, a good name for a graphic design company would be one that is easy to remember. You have to remember that this is the name you will subsequently be selling to prospective clients. And you have to remember that in some cases, when trying to select the person to do business with, clients tend to pick the first name that comes to mind: hence the need for you to opt for a name that is easy to remember: even if it doesn’t come across as sophisticated.
Thirdly, a good name for a graphic design company would be one that is suggestive of what the company does. It should be the sort of name that, at first glance, comes across as a name of a graphic design company.
Several strategies can be used to make the work of graphic design company managers easy.
The first strategy that can be used to make the work of graphic design company managers easy is that of providing them with the whole range of tools they need for their work. These include computers, decent offices and even cars. Take note of the fact that if you provide a manager with a car, you may also have to pay for its maintenance. If, for instance, the manager, while driving, flouts a given law in New Jersey, you may have to go to www.njmcdirect.com, to check the NJMCdirect ticket amount and then proceed to undertake ticket payment for the manager. All that would be in the name of making things easier for the manager!
The second strategy that can be used to make the work of graphic design company managers easy is that of orienting the workers properly. This would ensure that they know exactly what is expected of them: so that the managers just exist to motivate them.
The third strategy that can be used to make the work of graphic design company managers easy is that of developing and continually improving the company’s systems and procedures: thus ensuring that the managers are simply there to implement systems and procedures that already function well.
Big graphic design companies tend to have several departments.
One key department you are likely to find in a big graphic design company is the creative department: which is essentially the production department.
Another key department you are likely to find in a big graphic design company is the finance department.
Yet another key department you are likely to find in a big graphic design company is the marketing department. The graphic design business is extremely competitive: hence the need for a strong marketing department. In some graphic design companies, the marketing people actually end up being more esteemed (and better paid) than the ‘creatives’ doing the actual designs.
Some big-time graphic design companies also decide to set up Human Resource Management (HRM) departments. In some other graphic design companies, HR management is done online, through portals like the one used by SHO/SHC at www.88sears.com. The said portal is essentially set up for 88sears.com associates, where after undertaking the Sears employee login process, the said employees can proceed to access various bits of information pertaining to their employment at SHO/SHC. But given the fact that not everything in terms of HR management can be done online, it often becomes necessary to have a HR management team, especially if you are dealing with a huge graphic design company (with many employees).
One of the most lucrative gigs you can take up, as a graphic designer, is that of creating brochures for a bank.
To get the job of undertaking graphic design for bank brochures, you may need to either network with the people in charge of these things at the bank or apply formally for the project. Alternatively, you may need to take part in some sort of competition, organized by the bank.
Having landed the job, you need to ensure that you get it right: otherwise you won’t get any further jobs in the future, and you may actually not even get paid for the particular job that is done shoddily.
When it comes to payment, the bank may pay you via check, or via a bank transfer to your account. But most banks nowadays seem to prefer paying for these sorts of things using direct transfers. Thus, you may just need to provide the details, and the funds will be transferred to (for instance) your citicards.com debit card, which means that they will end up in your Citi credit card account. You would then need to go to the www.citicards.com login page, after a reasonable period of time, to ensure that the funds constituting the graphic design project payment actually landed in your account.