Want to do the work you love on your own terms? The right business plan might be
your most powerful tool to get there.

Whether you’re just starting your design firm or you’ve been running one for years, a business plan is critical to achieving success, regardless of how you define it. Creating one—no matter how daunting or unglamorous a task it might seem—will bring powerful benefits to you, your firm and your clients. Think of it like this: If you love your work, a business plan will underpin your ability to continue that work, on your terms, for years to come.

The Risks of Flying Blind
Interior design exists at a unique intersection between business and artistry. Many designers begin their firms with the hope that their creative skills will be enough, trusting that the rest will fall into place. And while that might be true, a trial-and-error approach is all but certain to cost you dearly in time, money and mistakes before you find your sweet spot. Business coaches who work with designers report seeing many of the same challenges arise with their clientele. Often, it comes down to simply ticking off key tasks in the wrong order—a mundane mistake that can have surprisingly serious consequences. “People go out and create a website and a logo and start marketing their business without really understanding who their audience is, what the pricing should be or what their sales structure should look like,” says Monique Nicole, a designer based in Hampton Roads, Virginia, who runs her own firm in addition to offering business coaching. “They end up spending a lot of money with little to no results. It really sets them back, and then they end up having to rebuild the business.”