As the person running a graphic design firm, you can decide to have your graphic designers telecommute. That would lead to a situation where they work from their homes. The nature of certain aspects of graphic design work is such that they can be executed through this (telecommuting) model.
Before allowing the graphic designers to telecommute, you need to ensure that they have the necessary levels of self-discipline. You need to remember that working from home means being confronted by many distractions, and a person with limited self-discipline may be unable to resist the temptations.
Having decided to allow your graphic designers to telecommute, you need you arm them with the necessary tools. These include things like a reliable phone line, a computer (which could be a laptop or a desktop) and an Internet connection. Then you need telecommuting software. This would be for coordination purposes. The whole thing here can boil down to something as simple as using www.ymail.com connections (especially where people use Ymail.com chat) to coordinate things with the telecommuting employees.
You can also have a hybrid system, where the folks in question can be at times working from home (when executing certain functions), and then working from the office when executing other functions , especially those that require lots of direct teamwork.
It is possible to get contracts through which you get to undertake graphic design work for the government.
You can, for instance, be contracted to design posters for the government. These may be posters that the government plans to use in creating awareness. If, for instance, the Georgia government has created a new program aimed at helping people who can’t cope with Georgia housing costs with the whole issue of re-housing it can decide to come up with posters to create awareness about the same. And you may be the lucky person who gets the contract to design the same. These contracts can be extremely lucrative, because they often entail designing and printing very many posters at a reasonably high cost per piece.
You can also be contracted to design signage products for the government. These can be things like directional signs, back-lit signs, billboards and so on.
At yet another level, you can be contracted to design illustrations for use in government publications.
The manner in which government procurement works in most countries is such that these contracts are normally won by members of a certain well-knit group. You just have to find ways of getting into that fraternity, and you are ‘set for life’, so to speak.
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.