Maybe you are here because the idea of unfounded goals resonated with you. It is easy to create goals without basis in our lives and in our business. We sometimes create goals that we are told we should, and there is no extreme connection to them at all. I have done that and can still find myself doing it if I am not careful. Kind of like creating the ongoing task list that never seems to be done, creating busywork upon busy work that leaves you feeling exhausted and frustrated no matter how organized you are.

Planning makes most things go more smoothly than working without a plan. When times are great it is easy to get caught in the upward swing and assume that there won’t be a downturn or a change of direction that we did not personally create. By documenting our plans for times of transition we can think through, in advance, what we might need. This prior planning can bring us peace when a transition occurs either by choice or force. Consider transition plans not as a bad thing – but as a great way to prepare for business to not function as normal. These could be executed due to sickness like COVID-19, elective surgery, having a baby, going on a long vacation or other life and business event. What is also as important as having transition plans is having a restart plan. Usually upon return to some normalcy business does not go back to full force immediately. Think of a restart plan similar to an on-boarding plan for a new hire. There are many tasks we need to modulate and ease into.

We've talked about cash flow in prior blogs, and we're going to continue talking about cash. It is imperative that we know our cash position at all times. Your cash position is simply how much cash do you have on hand at any given moment and an understanding of what that cash is allocated for.

If you own it, you can change it. And as Einstein stated, we cannot solve our problems with the same thinking that created them.

I have spent thirty years developing and implementing systems in companies of all sizes with twenty years of focus in the interior design industry. Using foundational business principles, I have guided hundreds of creative entrepreneurs to improve the three areas of their business that are crucial to creating and sustaining their company – people, process and profits. This has resulted in more freedom of their time, better understanding of their financials and working with less stress.

Ok, you are ready to do it – make the next hire. But that feeling of overwhelm you have and the flutters in your stomach grab your attention and your brain kicks in a bit of doubt….can I afford it? This is a great question and one that deserves an answer. Let’s look at the 5 key areas that we need to consider to see if financially we can make continued and sustainable payroll with this new hire

You are ready to hire. The job description is established, now you need to know how to classify your new help. Which should you choose? Let’s look at your business structure, the type of work you need help with and where you live. And don’t forget, how much money you have available. We will tackle the money issues in the next blog.

When you think you need help it is easy to quickly go into hiring mode without really considering what you need. Here is an exercise I often do (and have my clients do). When you have too much work and feel overwhelmed, start a list of all the things that you would love to delegate to the right person. Ask yourself with everything you do, “if this is the last time I do this would it make me happy?” And if the answer is yes, write it on a list.

What are your goals for the next year, 3-5 years? We want to grow and scale with the future in mind. If your goal is to work the same amount of time with the same types of clients and projects and make more money then your way of scaling may be very different than the person who wants to reduce their time working and make the same amount. If you are wanting to build a firm and have many levels of associates working as a team, that plan is entirely different. Brainstorm and really give thought to where you want to take your business.

At some point in our business each of us may start to feel overwhelmed, stressed and wondering how we can serve more clients – or heck, keep the ones we have going. Maybe we are being asked by others how we are going to scale the business and what that looks like. In this article, we will focus on indicators that could trigger us that it is time to scale. Here are five signs that indicate scaling may be in your near future.

We are seeing a shift in the way we charge clients. Many are moving from hourly to value-based pricing. Maybe you have heard it termed as flat fees. Either way, it is a change that is being promoted and needs to be undertaken with care. Just choosing a flat fee or value price because the number seems right or because someone else is charging that amount is not going to ensure you are profitable on the job.

Isn’t this a great question? How do we make money doing what we love in the area of interior design? We hear often to follow our passion. Or, if you do what you love you will never work a day in your life. While these can be true, there is a bit more that needs to be added to make the plan work. Here are my recommendations for having a profitable business born out of passion.

If I run into you on the street, I’d probably ask, “How are you doing?” You’d have an answer, right? But what if I stopped you in the street and asked, “How’s your business doing?” Is the answer as ready?

It’s time to figure out the state of your business and how it’s doing. Do you have a good profit margin?

When you talk about margin, you’re looking at a percentage that represents a relationship between two numbers. You may hear profit margin also called a profit margin ratio. Both of these terms are referring to a percentage and can be used interchangeably.

Bouncing back from a revenue dip is hard. The worst part is feeling like a failure. Too many entrepreneurs place their value in context of their success—a great month means you’re a success, and a bad month means you’re the worst. This is a very dangerous cycle that could ultimately sink you, heart and soul.

When a ship is off course, the Captain consults appropriate tools and maps to get the ship back on track. It’s called Course Correcting, and it’s the same concept that you can follow when you’re off-track with your business. For times when your interior design financial statements tell a scary story or you feel doubts about your decision to start an interior design business, don’t abandon ship!

By now, your cash is flowing and you’re reading your interior design financial statements to follow the ebb and flow of the cash beyond just mere bookkeeping. You know your sales cycle, you’re tracking money due and expenses pending, and you’re able to take the pulse of your business at any time.

You probably chose to start an interior design business without first assembling an accountant or bookkeeper, but there comes a time when you must create and maintain interior design financial statements. The alternative is a finance guessing game that sees you scrambling to avoid reaching bottom over and over again because you do not have a realistic picture of your money.

Anxiety is a normal part of business, and most of us manage our emotions pretty well, using those feelings to inspire or motivate. However, if you have a sinking feeling in your gut at the thought of one client or have difficulty facing a project because you must interact with this individual, that is not normal—you have a wrong client.

If you already feel like screaming at a client who just requested your services, then get out, now!! Not every client is right for you, and that’s A-Okay. So, once you’ve discovered one is the wrong client, it’s time to disengage. Save yourself and save your business; wrong clients can cost you time and money—and your reputation.

When you chose to start an interior design business, you embarked on a unique journey. As an entrepreneur, a well-run business will impact every facet of your life. Your interior design business plan is a key document to managing your business—and therefore, your life. So, you must ensure the plan works.