LCA hosted a Business summer school as part of the 'Life After College' program, which was a week long course centred around being your own boss, and being a creative entrepreneur. Long term I have always wanted to be my own boss, possibly working freelance or opening up an agency type firm with others.
The course was hugely beneficial as it gave me an insight into all aspects of functioning as a profitable creative, as well as introducing me to contacts in the business world, as well as titan of industry and theatre mogul Anne-Marie Wilks, who helped me form a business plan to pitch at the end of the week.
Classes were featured on a range of topics, with revision/class notes provided to keep for file:
Finances
- Budgeting, material resources and time
- What to set as my hourly rate/ how to calculate my hourly rate from my current outgoings/incomings
- How to calculate a profit/loss sheet (and balance sheets)
- How to correctly manages invoices and respond to fussy clients
- How to acquire finance, contacting the bank for loans- which loans and sources of finance are most appropriate for what situation
Marketing
- How to correctly manages invoices and respond to fussy clients
- How to accept work professionally/ How to decline work professionally
- How to accept work professionally/ How to decline work professionally
- Best ways to create websites/ secure URL's and domain names
Legal
-Copywriting and Intellectual protection (when its needed to secure work, and how)
-How and when reappropriating work is okay (when to credit and how)
Public Speaking
-Pitching workshops
- Vocal exercises in tone
- How to put together a pitch and direct an official board
Throughout the week I took it upon myself to embrace the atmosphere, being the youngest there (and only Level 4), to try and set up my own business using the resources I had, with the guidance from the great people I had met throughout the week. Many business figures and creatives came in, securing me the contact details of a good lawyer and good accountant, two things it became clear are definitely needed when going into business! At the end of the week, I pitched my idea for 'The Clothes Finding People', an online distribution and personal shopping service, specialising in one off vintage items whilst taking on the principles of ASOS connecting the people. I practiced what had been taught all week, formatting a presentation and presenting it to the entire senior management board in a pitch for mentoring. By doing this my confidence in public speaking improved drastically, as if I can present to Randall Whittiker and Simon Thorpe, then I can hopefully present to a group of my peers later on in the year.
This week has taught me that design is also a business, and potentially a very profitable business if you market yourself right! This opportunity has been an invaluable experience, and I want to partake in it again next year, if not, definitely third year! On the course I also managed to network with other courses and levels inside LCA, including recent a graduate from Graphic Design, Josiah Craven. By sharing the commonality of learning together, it positioned me more like Josiah's peer rather than admirer of his work, so I was able to be much more relaxed in my networking approach and learn a lot about design, layout and how to handle uni life, in a way I wouldn't of been able to interviewing him formally.
The experience has confirmed I would like to get into business one day, and to that planning, project management and organisation with figures is key, all of which I want to focus on in the year to maximise financial success from any possible design. This has also given me the tools to go freelance- I do not plan on setting up a website straight a way, I may even leave it until the end of Level 5/summer before doing this, using Level 5 as an opportunity to experiment with creativity and build up work for my portfolio.
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