SXSW: Starting Small, Web Business for the Rest of Us

This panel was primarily about becoming a freelance design professional or starting a small consulting business. The panelists created a site to correspond with the panel at startingsmall.info. Here are the notes:

- first steps for starting a small business

• there’s a time you need to take the plunge and quit work
• ideally, have a years worth of cash
• the rough periods teach you a lot

- exit strategy / long term strategy

• what’s the end result
• retirement, buy out, company gets bought, etc.

- failure

• it’s a learning experience
• failure in a controlled environment – learning in the corporate world, learn enough before quitting, timing is important

- financing your dreams

• many times bootstrapping is really your only option
• use creative self-financing
• hire a bookkeeper / accountant

- being known and being understood

• make sure you do good work
• building a brand – creating and maintaining your public perception
• even your proposals should reinforce this brand
• blogging is important for this
• work on projects that interest you (even if you don’t get paid for it)
• your contacts are everything
• be specific about what you do
• pick your clients very carefully; projects that fit your business model and/or brand

- work / life balance: need to know when to stop working

- biggest challenges: determining what was best thing for site / for users; stay on task; growth; communications with partners, clients, etc.