Enterprise Lecture 7

Stash Your Cash

Accounting;

-Keep track of who owes you money.

-See how much you are spending on materials and services.

Invoices and Statements;

Essential of an Invoice:

-Your business address.

-Your customer's address.

-The date of the invoice.

-Item by item details of the service or product provided.

-Total amount due.

Essential of a Statement:

-Your business address.

-Your customer's address.

-A list of recent invoices you have sent out

-Details of invoices paid and unpaid

-Total amount outstanding

On the back of invoices and statements there are things called terms and conditions, the conditions are the circumstances under which the agreement is made.

-Designed to protect your rights and interests

-Costs

-Delivery Arrangements

-Payment Terms.

Terms and Conditions cover areas which need to be set in stone, credit limits etc...

The statement

Send out on the day before the due date,

Send out every month thereafter

How much is owed?

Accounting Software: Bank Tree, quick books, sage, online quick book essentials.

Establishing a charge rate for working Artists and Designers

During today's session Bridget gave us a printout from an excel Spreadsheet to work through, helping us to work out how much we would need to earn in relation to live with our current expenses. Working freelance, I would have to think about my incoming and outgoing costs alot more than I'd expected, I never realised what the term buisness expense actually meant, and how you can create boundaries between money that goes into your pocket and money that doesn't get taxed.


Considering a studio space is something I definitely want to think about for my first year after i finish my degree, sharing a studio between 4 creatives would save a lot in the long run plus it provides you with an environment designed for people in similar industries.

Enterprise Group Task

Today we were briefed with the starting point for our group module linked with enterprise and learning about Business management. Over Christmas I had got a general idea of the people I felt I would gel with when working in a group and people with a range of approaches to visual styles that would hopefully go hand in Hand.

So far working in our group is: Me, Yafet Bizrat, Dominic Rugman And Matt Tucker.

We were giving the task of coming up with a name for our business, a slogan for our business and an action plan outlining the areas we are thinking of moving towards.

Our Idea's so far, revolve around producing a Design/Music collaboration, re-vamping artists artwork and working alongside artists to help manage and promote through design. We all have friends who are in someway involved with producing their own tracks, (Mainly electronic music) so we each plan on taking one of these artists under our wing, helping to get them off their feet by obviously producing amazing pieces of design.

It would work on a (I'll scratch your back, you scratch mine) basis, where we would advertise up and coming releases by each artist on our website and they could advertise our agency through websites like soundcloud and myspace etc.

We decided on the Name 'Pardn' for our design collaberation, which is an abreviation of the word Pardner. The reasoning behind the word, is because we felt our design collaberation was all about unity, uniting two very different industries through design.

Parnder; A partner, companion, or friend.

Enterprise Lecture 6

Don't just get a Job....Why?

Issues within starting your own business;

It must be something that drives you from within and something that you feel very passionate about. A second personality, a continuation of yourself.

PRODUCT/PRICE/PROMOTION/PLACE

Marketing, brand, longevity, scarcity.

Starting a business, they think it takes luck, a clever idea or just knowing the right people. That's not true, its solely about you, you're the one who needs to make the impact.

-Do what you Love

-Start your business while you are a student or still employed.

-Don't do it on your own, get as much advice as you can.

-Write a Business Plan




-Do the Research

-Get Professional Help

-Get legal and tax issues right first time.




A business Plan is a 4 part document;

-Your mission and Values, Activity and skills required.

-Money, Finance needed Budgeting, Money Management systems

-Marketing, 4 P's, monitoring your competitors.

-Resources and Equipment needed (Overheads)