Real Talk Design (Podcast) & I Take a Deep Dive Into Processes & Pricing Models

This was such an enjoyable conversation with Michelle Binette of the Real Talk Design Podcast... it was like a conversation with a girlfriend in the same industry who UNDERSTANDS the ins and outs of running your own interior design business. The only thing missing was the face to face energy that comes from chatting over coffee (or wine). 

We cover my backstory (which many of you know by now), the way I had to change my business model and mindset when a major pivot in my business was required. And how darned surprised I was when I discovered how HARD it was to run an interior design business. (Man, there are a LOT of details!)

Looking back, it's amazing how much can change in 5 years!

Wondering how to explain to your client how you charge for your services? 

Michelle got me to loosely role-play how I deliver the message of my pricing with the client - so you can listen...

Planning for Disasters (Like The Coronavirus)

We really do need to apologize to 2019 for the way we treated it and ushered it out the door with such glee. It’s only March and 2020 is shaping up to be a doozy thanks to the coronavirus. 

Look, I won’t sugar coat it: Your interior design business is pretty much guaranteed to be negatively impacted. 

We are a luxury service industry. And when people tighten their wallets, luxury services are often one of the first to go. In the months ahead, you are likely to see fewer clients and more modest projects than you typically do. 

If you haven’t already, now is the time to really look at your emergency plan and make sure you have a long-term guideline when it comes to your business. Natural disasters happen, economic downturns happen, viruses happen. And they all provide an atmosphere that is unpredictable at best.

How To Be Prepared

With public health officials telling everyone to stay home — and work...

IT'S TIME: The Quarterly Financial Check-in

Is it just me, or is this year already FLYING by? 

The past two months have been hectic for me with a move — and designing the new house that goes along with that — not to mention launching my course again. 

And now — bam! Suddenly, it’s March and the plants outside are looking greener and less drab. Spring will be here before you know it!

But that also means there’s a deadline looming: The end of the first quarter. 

You know what you need to do. It’s time for a quarterly financial check in on your business. I know it sounds like a pain, but trust me, doing these every three months is the way to go. 

Here’s what you need to do and why:

Take account of where your business is right now

If you’ve followed my advice (you have, right?!), then you did a year-end review of your business, including setting goals for the year ahead. 

But that doesn’t mean things...

You are one in a million... It's time to act like it!

Meet Your Best Investment: Yourself

As women and designers, we are constantly bombarded with what we “should” look like, what our designs “should” look like, what we “should” be doing, how we “should” act. 

First, I want you to toss the word “should” from your vocabulary — RIGHT EFFING NOW.

No one should tell you what to do, how to act, how to look — and that means you as well.

There is no one else in the world like you — and that is a great thing. I want you to feel the power that comes with being YOURSELF.

In the social media age, it can be incredibly intimidating to do that. You’re always seeing examples of other people’s lives that lead you to think maybe you should be doing something else. 

But remember what I said a few weeks ago — comparison is the thief of joy … and that Instagrammer who appears to be...

Let's Talk About YOUR Energy

We’ve talked about confidence, we’ve talked about processes, now it’s time to talk about energy.

No, I’m not talking just about how amped — or not you feel — about a project ... or how much coffee you need in the morning to feel like you have any energy at all.

I’m talking about YOU — who you are, how you interact with others, whether you’re calm and cool or enthusiastic and bubbly, or perhaps a mixture of all the things.

It’s that space where you feel your best and work your best.

Everyone’s energy is different, and that’s FINE. You will be effective no matter what energy you possess once you understand it a little more and learn to harness it.

Because here’s the great thing about having processes and confidence in your business: It allows you to be more authentically YOU. And you’re pretty damn great, right?! (Yes, you are.)

Now let’s dive into some...

Confidence is Key

Confidence doesn’t happen overnight. It takes time, practice and patience (with yourself). But you can start building on it right away, little by little, step by step.

Last week we talked about overcoming imposter syndrome and gaining the confidence you need to charge what your designs are worth. 

Now it’s time to turn to the processes that will help you get there.

Why Create Repeatable Processes

I’m a die-hard advocate of creating repeatable processes in your interior design business. 

Why? It builds confidence to charge what your designs are worth and it helps you better manage your projects. 

Doesn’t that sound like a great foundation where you can begin to feel less like an imposter? It sure does. 

Over time, you’ll find you’re more and more comfortable charging for not just the final design you provide your clients but the EXPERIENCE you are giving them. 

That’s because you’re...

Who here has ever felt like an imposter in their business? Raise your hand. C’mon, don’t be shy. 

Every single person should be raising their hand because we’ve all felt it — that feeling that my designs are not worth that price tag, that I can’t charge more because I don’t have enough experience or a degree I can frame on the wall and point to as evidence I spent years studying for this career.

Everyone has that tiny voice in the back of their head whispering these things, but that doesn’t mean you have to listen to it. And don’t forget that ultimately you are in control of your thoughts … sometimes they just need extra guidance or a heavy hand to steer away from the edge of that massive, looming cliff.

So when that little voice tries to speak up, tell it to bugger off and replace those mutterings with positive, powerful affirmations.

If that voice whispers, “You can’t charge $X price for your design because...

Repeat after me: I will not charge an hourly rate. 

Now say it out loud. C’mon, I know you didn’t the first time.

Great, now that that’s taken care of, let’s get down to brass tax. 

Charging a flat fee for your design services is far superior to an hourly rate. And there are a lot of different ways to calculate it. 

A flat — or value-based — fee is the total cost for a project that can be calculated based on square footage, a percentage of the project cost or an estimate of what you’d normally charge for an hourly rate (but remember, you’re not doing that anymore) to complete the job. 

Don’t believe me? Well, Forbes believes me, so you should, too. 

Why a flat fee works

Here’s the hard and fast truth if you set an hourly rate: clients will “shop” it, meaning they’ll search for the lowest they can find. You’re competing as a commodity - and we know that design is not a...

It’s 2020, and time to kick off the new year and decade with a bang — by making more money than you’ve ever made before!

There are several ways you can increase your interior design business revenue, some easy and others … well, not so easy. And it shouldn’t come as a surprise that there is math involved — we are talking about adding up all those $$$ after all. 

I promise it is all worth it in the end. The worst thing you can do is undervalue your services or — gasp! — give them away for free.

Let’s talk about how you can add more Benjamins to your books this year.

Value-Based Fees

First things first, I do not recommend charging your clients by the hour. There’s always time you’re not fully accounting for and you usually end up paying yourself less than what your gorgeous designs are really worth. 

That’s why I highly recommend using a value-based fee, which is a lump sum you charge for the entire...

The end of the year is fast upon us, and it’s only natural to both reflect back and look ahead on all you’ve done in the past year and your goals for the future. 

But if you don’t want to find yourself facing the ghosts of interior design past, present, and future, it’s time to add an annual business review to that list of resolutions. 

If you haven’t been doing one, now is the perfect time to start. January 1, 2020, marks not only a new year but also an entirely new decade. (P.S. How’d that happen so fast? Wasn’t it just 2011 a few years ago?!?!)

I’m sharing this amazing review and planning guide that will help you sleigh your way (see what I did there) into 2020 with a plan that will guide your business through all the fog — just like Rudolph’s red nose.

This document will help you work through not only your business fundamentals but how you’re feeling about what you’re doing,...