Life Stages

of an interior design business

start up
marketing

planning

finance

operations

&

human resources

legal

organizational structure

start up
marketing
planning
finance
operations

&

human resources

legal

Assessing the market / defining 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

organizational structure

asid resources

start up
marketing

planning
finance
operations

&

human resources

legal
organizational structure

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, financial planning, management, etc.)
Developing a technology plan

asid resources

start up
marketing
planning

finance
operations

&

human resources

legal
organizational structure

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)

asid resources

start up
marketing
planning
finance

operations
resources

&

human

Purchasing software / setting up utilities

Setting up payroll (if not sole proprietorship)
Defining roles and responsibilities (if not sole proprietorship)
Developing policies (if not a sole proprietorship) / manuals
Identifying resources for outsourcing / collaborating

legal
organizational structure

asid resources

start up
marketing
planning

Determining and establishing legal entity

Obtaining and reviewing contract documents

finance
operations

&

human resources

legal
organizational structure

asid resources

start up
marketing
planning

Determining your vision and business goals

Articulating your business values

finance
operations

&

human resources

legal

organizational
structure

asid resources

growth
marketing

planning

finance

operations

&

human resources

legal

organizational structure

growth
marketing
planning
finance
operations

&

human resources

legal

Cultivating referrals / lead development

Growing your brand
Raising your profile (writing / speaking / showhouses / volunteer and charity
work, etc.)
Expanding your network

organizational structure

asid resources

growth
marketing

planning
finance
operations

&

human resources

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

organizational structure

asid resources

growth
marketing
planning

finance
operations

&

human resources

Managing cash flow

Determining profit and personal earnings
Leveraging capital and credit
Collecting and paying taxes

legal
organizational structure

asid resources

growth
marketing
planning
finance

operations
resources

&

human

legal
organizational structure

Recruiting, hiring, training and retaining employees

Setting up payroll
Determining compensation and benefits / profit sharing
Contributing to Unemployment Compensation and Workers Compensation Insurance
Selecting insurance plans / retirement plans for employees
Defining roles and responsibilities
Developing HR policies / manuals / contracts
Managing staff
Setting up or expanding office space leases, furniture, equipment, software, etc.
Controlling overhead

asid resources

growth
marketing
planning

Deciding whether to partner / add partners

Managing contract negotiations and obligations

finance
operations

&

human resources

legal
organizational structure

asid resources

growth
marketing
planning
finance
operations

&

Inculcating your vision and business values

Developing / enhancing leadership / delegating skills
Anticipating and integrating cultural change

human resources

legal

organizational
structure

asid resources

established
marketing

planning

finance

operations

&

human resources

legal

organizational structure

established
marketing
planning
finance
operations

&

human resources

legal

Developing new business / generating opportunities

Utilizing marketing and PR vehicles
Refreshing and re-positioning your brand
Enhancing your website and SEO
Solidifying your reputation as an industry leader / expert

organizational structure

asid resources

established
marketing

planning
finance
operations

&

Reviewing and revising your business and strategic plans

Monitoring trends
Exploring future scenarios

human resources

legal
organizational structure

asid resources

established

Fine tuning cash flow

Maximizing profit

marketing
planning

finance
operations

&

human resources

legal
organizational structure

asid resources

established
marketing
planning
finance

operations
resources

&

human

legal

Developing staff
Planning for advancement / partnerships / succession
Increasing productivity
Improving efficiency / process improvements
Refining business practices
Increasing automation and outsourcing of routine tasks
Managing overhead

organizational structure

asid resources

established

Minimizing disputes, claims, collections, etc.

marketing
planning
finance
operations

&

human resources

legal
organizational structure

asid resources

established

Managing change
Developing leaders
Maintaining a competitive edge

marketing
planning
finance
operations

&

human resources

legal

organizational
structure

asid resources

transition
marketing

planning

finance

operations

&

human resources

legal

organizational structure

transition
marketing
planning
finance
operations

&

human resources

Developing new markets / distribution channels

Developing new lines of business
Diversifying your services (e.g., adding consulting)
Refreshing and re-positioning brand / combining brands

legal
organizational structure

asid resources

transition
marketing

planning
finance
operations

&

Reviewing and revising your business and strategic plans

Monitoring trends / economic developments
Exploring future scenarios

human resources

legal
organizational structure

asid resources

transition

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

Managing cash flow and capitalization for expansion

marketing
planning

finance
operations

&

human resources

legal
organizational structure

asid resources

transition

Integrating staff (merger or acquisition)

Mentoring

marketing
planning
finance

operations
resources

&

human

legal
organizational structure

asid resources

transition

Growing through merger or acquisition

Engaging in joint ventures / partnerships

marketing
planning
finance
operations

&

human resources

legal
organizational structure

asid resources

transition

Integrating organizational cultures (merger or acquisition)

Integrating professional cultures (new lines of business, diversification, new
sources of revenue)

marketing
planning
finance
operations

&

human resources

legal

organizational
structure

asid resources

maturation
marketing

planning

finance

operations

&

human resources

legal

organizational structure

maturation
marketing
planning
finance
operations

&

human resources

Reassess market / opportunity

Reassess competition
Manage perceptions of declining competence / value
Referring clients

legal
organizational structure

asid resources

maturation
marketing

planning
finance
operations

&

Maintaining a strategic sales plan

Evaluating next steps for business (expand or exit?)
Developing an exit plan (when and how)

human resources

legal
organizational structure

asid resources

maturation
marketing
planning

finance
operations

&

human resources

legal

Coping with cash flow challenges

Cutting costs
Protecting value / investment
Getting a valuation to determine what your business is worth
Tax strategies for selling the business

organizational structure

asid resources

maturation

Downsizing
Selling inventory

marketing
planning
finance

operations
resources

&

human

legal
organizational structure

asid resources

maturation

Dissolving the business as a legal entity

Finalizing tax obligations

marketing
planning
finance
operations

&

human resources

legal
organizational structure

asid resources

maturation

Anticipating and coping with psychological impact on owners and employees

marketing
planning
finance
operations

&

human resources

legal

organizational
structure

asid resources

selected resources

ASID ASID website (www.asid.org)

For additional information and links to online resources, go the

Practice & Business section of the ASID website at www.asid.org.

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

UNi ASID online education (www.asiduni.org)

RV Red Vector (www.redvector.org)

General | Publications

Marketing | Publications

Designing Your Business by Gordon T. Kendall.

Fairchild Publications, 2005.

How to Get Your Work Published (ASID)

Know Your Client (ASID)

A Guide to Business Principles and Practices for Interior

Designers: Revised Edition by Harry Siegel, CPA, with
Alan M. Siegel, Esq. Watson-Guptill, 1982.

Marketing and Client Relations for Interior Designers by

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

How to Start and Operate Your Own Design Firm, Second

Edition: A Guide for Interior Designers and Architects by
Albert W. Rubeling, Jr., FAIA. Allworth Press, 2007.

Marketing Basics for Designers: A Sourcebook of Strategies

and Ideas by Jane D. Martin and Nancy Koohuizen.
John Wiley & Sons, 1995,

The Interior Design Business Handbook: A Complete Guide

to Profitability, 4th ed., by Mary V. Knackstedt, FASID,
FIIDA. John Wiley & Sons, 2006.

Marketing Interior Design by Lloyd Princeton.

Allworth Press, 2009.

Interior Design Handbook of Professional Practice by Cindy

Coleman (ed.). McGraw-Hill, 2001.
Interior Design in Practice: Case Studies of Successful Business Models by 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 Profits www.designingprofits.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 | 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)

Finance | Publications

Legal | Publications

20 Ways to Build Your Retirement Fund (ABL)

ASID Contract Documents (residential & commercial)

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

Business and Legal Forms for Interior Designers by

Tad Crawford. Allworth Press, 2001.

Assessing a Business Health and Profitability (ABL)

Cash Flow: Know Its Value When Buying, Selling, or
Expanding (ABL)
Estimating for Interior Designers by Carol Sampson.
Watson-Guptill, 2001.

Legal | Presentations
Contract Guide for Design Professionals: Intermediate (UNi)
Avoiding Design Malpractice Claims (UNi)
Arbitration or Mediation (UNi)

The Interior Designers Guide to Pricing, Estimating and

Budgeting by Theo Stephan Williams. Allworth Press, 2005.

Negotiating Contracts (RV)

Your Investments: 44 Action Alerts to Use Today and

Throughout the Year (ABL)

Organizational Culture | Presentations

Finance | Presentations
Accounting and Cash (RV)
Financial Controls, Monitoring & Project Budgeting (RV)
Pricing as a Professional (RV)
Pricing for Profits, Generating Cash and Getting Paid (RV)
Profit & 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 Conflict (RV)
Insurance Coverage Disputes (RV)
Partnering for Design & Construction Projects (RV)
Rewards, Recognition & Motivation (RV)

Art & Science of Delegation (RV)

Delegation: The Art of Leading Others (ASID Web Event)
Team Building (RV)
Understanding Organizational Change (RV)