Planning to Start Your Own A&E Firm

PLANNING TO START YOUR OWN A &E FIRM Have you identified your strengths? Why do you want to start your own architectural firm? Define your three core strength START HERE • I can explain why in one sentence: Move Forward 1 Space • I'm not sure: Lose a turn until you know this • Yes: Move Forward 1 Space • No: Lose a turn until you detemine this • My three core strengths are 1, 2, and 3. - Move forward 1 space • "Uhhh," Go back to 1 space XXXX 3 Have you consulted a lawyer to help you decide the legal structure of the Have you thought about how you will balance your personal and profes- sional life? Have you defined your weakness and Do you take appreciation and criticism of your work positively? the steps you need to overcome it? firm? • Most of the time: Move forward 1 space • Sometimes: Lose a turn while think ing about this • I have issues accepting criticism: Go • Yes: Move Forward 1 Space • No: Lose a tum until you determine this • Yes: Move Forward 1 Space • No: Lose a tum until you determine this • Yes: Move Forward 1 Space • No: Lose a turn while you consider this more carefully back to #1 4 Have you prepared an annual budget and profit plan? Have you made provision for enough money that will last for at least a year? Have you prepared a business plan? Are you ready to face uncertainties of payments, work, and unforeseen situation? • Yes: Move Forward 1 Space • No: Lose a tum until you determine this • Yes: Move Forward 1 Space • No: Go back to #8 • Yes, I am aware of the risks: Move forward 1 space No, I feel safe with regular salary: Go back to #2 • No, I may need some more time to think on this matter. Go all the way to the beginning • Yes: Move Forward 1 Space • No: Go back to #8 16, XXXX XXXX 8 10 11 Decide upon the way you will like your firm to be positioned in the market, for example: Do you know what your Unique Sell- ing Point is? Have you prepared a marketing plan? • Yes: Move forward 1 space • No: Lose a turn until you know what this is • Yes: Move Forward 1 Space • No: Lose a tum until you determine this • General consultant • Specialized project consultant i.e. Housing, Health care, etc. • Building code Expert / Approvals Expert • Building envelope designer • Sustainable design consultant • Conservationists • Real estate (property) developer • Project manager / Construction manager • Interior designer • Architectural journalist • "I'm not sure" - Lose a turn until you decide. 13 12 Have you obtained all the required licenses (such as your registration with council of architecture, tax registration of your company, etc.)? Have you allotted sufficient fund for marketing? • Yes: Move Forward 1 Space • No: Go back to #8 • Yes: Move Forward 1 Space • No: Lose a turn until you obtain this • No: I didn't plan for this or for the fees involved – No: Go back to #8 $4 14 15 16 Do you feel that location of your office is ideal? Do you intend to hire office employees Do you like to work alone OR Do you feel comfortable in team work? such as office administrator or an architectural assistant? Or plan to work solo? How many employees will you need at the beginning? • Yes: Move Forward 1 Space • No, I am still looking for a better • Prefer to work alone: Miss a turn • Prefer to work in a team: Move forward 1 space location - Lose a turn • No, I plan on working solo – Move forward 1 space • 'll need an assistant and I planned for this – Move forward 1 space • 'll need an assistant but I didn't plan for this – 19 17 Do you think your office has an enough space to take care of your future growth? Move back to #8 YOU • I'm planning to add someone in the next three to five years - Move forward 1 space • It is suitable for at least next five years - Move forward 1 space • It is suitable for at least next 3 years - stay in the same spot • It's suitable for 1 year - miss a turn MADE IT! 20 18 Have you worked out the requirements of furniture, equipment, software, hardware, phone system, etc.? Do you think an Exit Plan is neces- sary, so that in case if you have to close down the business, you can do so gracefully? • Yes: Move Forward 1 Space • No: Go back to #8 • Yes - Move forward 1 space • No - Lose a tum as you detemine this FINISH 21 22 STRUCTURE YOUR FIRM FOR SUCCESS