There is a cycle of work that is generally the status quo for the Illustration cycle of work. It includes prospecting for work, securing a commission, generating roughs, and submitting your final invoice on deadline. The process can happen out of order at times to make the whole cycle more difficult.
One should come up with a business plan, it should be cautious plan that is well thought through. Standard business plans can be found on the internet. Their steps include:
An executive summary: This should be tackled last, it is a summary of your entire business plan and should include the important points from the other parts of the list.
A description of the business opportunity: This is what your business actually does. Copyright is a key right to retain.
Your marketing and sales strategy: Figure out how your chosen market operates and the people you are competing against for work
Your marketing and sales strategy: How to promote yourself though a website, a physical portfolio, promotional materials, or Illustration annuals. How to sell your product through telephone calls, email, posts, face to face meetings, or exhibitions.
Your management team and personnel: learn the pros and cons of having an agent. They will establish a client base but they will take 25-30% on jobs.
Your operations: Figuring out the environment where you will work. Home studios or shared studios
Your financial forecasts: Run from three to five years, it will set yourself targets. It will give you an understanding of the amount of work you will need to take to cover your own expenses. A forecast will usually include a cash-flow statement, profit and loss forecast, and sales forecast.
