Book Report for Creative Business - Essay Example

Book: Foote's The Business Side of Creativity: The Complete Guide to Running a Small Graphic Design or Communications Business by Cameron S. Foote, W.W. Norton & Company, 2002 Summary: The most comprehensive business companion available for those just starting out or expanding operations in the design field. This updated edition of an industry standard furnishes all freelance graphic designers, art directors, illustrators, copywriters, and design-shop principals with the tools needed to move ahead in the design business. From getting launched to running a multiperson shop to retiring comfortably, this book covers it all and includes sample business forms. Managing the Ins and Outs of a Small Graphic Design Business The Information Age is ushering in sweeping changes in the world of business . It is tearing down the walls of geography and allowing businesses to reach markets anywhere in the world. It's spawning new businesses, transforming existing ones, saving companies money, and creating wealth. It's changing the way people shop for books, cars, vacations, advice-just about everything. It's forcing companies of all sizes and types to face new competition, explore new business opportunities, and adopt new ways of conducting business. In the span of just a few years, these changes had touched every business and industry. Cameron Foote's The Business Side of Creativity: The Complete Guide to Running a Small Graphic Design or Communications Business (2002) is a landmark book that contributes to the idea of graphic designers of how they could manage their own small business in the Information Age. Starting a new business or successfully managing a small company in today's global economy could be a cumbersome challenge and it definitely requires immense creativity and willingness to exploit new opportunities. Small companies often lack the resources to buffer themselves from competition. Furthermore, once a new product or process is brought to the market, competitors need only a short time to be up and running with something similar. Thus, the biggest challenge for small businesses today is to make a product or provide a service that is hard to imitate. Foote's book is divided into five sections. In the first section, he deals with establishing a freelance business. He tackled the things one had to know in starting and running a single-person operation in graphic design. It includes the norms, standards, and appropriate expectations. There are some helpful tips strewn over like: "Just remember that the only place you'll ever find that is 100 percent free of politics is your own, single-person office. You'll have more time for personal work. When you work alone, you can work very productively" (p. 20). He reminded that the fact that one has decided to stake his or her future on freelancing shows he or she is to be a person with high energy and an entrepreneurial spirit. It also marks us as the type of person whose self worth depends on what we can do best. In Section 2 of his book, Foote tackled the pricing and the taxation part of this kind of business. This section of the book gives the readers an overview of how to charge for time, explains the preparation estimates, and keeping more of what one makes in managing a freelance designer job. In pricing, for instance, he suggested before sitting down to determine how much to charge, one must look at the big picture. Many individuals assume that pricing is the most important factor in business success. When a designer decides that "I'll make up with higher volume what I lose through lower rates", it could mean two flaws. First, working harder at lower prices often results in creative burnout. It may be financially successful, but for how long and at what price Second, a reputation for low-price work attracts smaller, less sophisticated, and more demanding clients (p. 99). In Section 3, Foote tackled the marketing and selling strategies in this type of business. He gave some tips where the opportunities are, the portfolio preparation and presentation, and when the employing sales could assist in the thriving small business. It also includes how much to spend and what to expect. Foote shared that a small service business that does not devote 25 percent or so of each week to such activities as planning, marketing, and record keeping will implode from its own success sooner or later (p. 101). Contrary to what many small business entrepreneurs believe, conducting marketing research will be very helpful in providing information to support one's business. Although it is true that marketing does produce a variety of data, some of which may be irrelevant, it is also a fact that much of the information is useful. In addition, even if certain data merely confirm what the entrepreneur already knows, it is knowledge that has been tested and thus allows the individual to act on it with more confidence. Most of the reasons why entrepreneurs are not using marketing research is that it's either they have a misunderstanding of its value or on a fear of its cost. However, the approach to marketing does not have to be expensive and can prove extremely valuable. Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer behavior. A small business must integrate all three elements when developing its marketing concept and its approach to the market. This approach helps set the stage for how the firm will seek to market its goods and services. In Section 4, Foote added some tips in expanding the business by going through the tips in running a multi-person shop. This includes the hiring of staff, making good management practices, systems procedures, and managing profitability. Foote found out that whether you are a graphic designer/art director, illustrator, or writer, freelancing or running a multiperson shop, for practical purposes all work will come from one of three types of places - publications, agencies, or companies/organizations (p. 194). Thus, it is up for the business to maximize these sources of income and deal with them professionally. Being a small business-or even a smaller business-can be difficult when the competition is a large, dominant force. Smaller companies must recognize that they are not simply small versions of their larger competitors. They must emphasize the advantages of being small and compete on that basis. Small companies can, indeed, coexist with large companies. With the tips shared by Foote on managing a small graphic design business, it could serve as one's bible in dealing with the ins and outs of such venture. Work Cited Foote, Cameron S. Business Side of Creativity: The Complete Guide to Running a Small Graphic Design or Communications Business, New York: W.W. Norton & Company, 2002 Read More