If you want to be successful and profitable as an independent designer or as a retail designer, you have to sell your time, your knowledge, and your products.
- Your time is what you have to allocate according to what is needed to efficiently and effectively execute the processes of your business. By processes I mean your sales process, your project management process, your design process, your accounting and administrative process. Look at this and see if you can condense any actions and eliminate any unnecessary steps. Your profitability here is based on having processes that get the desired results in the least amount of time, so that you can get and do MORE projects not spend more time on each of the projects you have.
- Your knowledge is what you have gained through education, experience and successes and failures. It includes your God given talent coupled with what you have developed and done with it. Your profitability here is based on selling what you know, instead of using it as bait to get a project. If you offer an initial complementary meeting, use that time to gather information not to give them information – that is the knowledge and solution you sell at your next meeting….when they give you a deposit.
- Your products are what you mark-up accordingly and appropriately so that you are competitive and profitable. Your profitability here is based on the margins and mark ups you set with your accounting professional so that you operate within them to be competitive and reasonable in your pricing.
You’ll notice that profitable came up three times…that was intentional. I am committed to your success as a business person and your joy as a creative person bringing beauty and comfort to the clients you serve.
Until next time……