Are You An Entrepreneur Or Is Interior Design a Hobby?
When you signed up for interior design school, did you have any idea what the real world of interior design really involved?
I know I didn’t.
It never occurred to me that 90% of the job was administrative, detail and project management. It was a rude awakening for me, and I adapted, but it wasn’t easy.
It took years to get the systems in place and find the shortcuts. How many systems do you have in place?
If you’re doing this part-time or as a hobby, don’t expect to make more than about $10 – 25,000 per year and that’s if you’re willing to do some work to get clients and learn the basics of running projects.
If you’re serious about building a real business, then you’re an . I’m not saying you can’t do this as a hobby, but the mindset is entirely different.
This isn’t an easy profession, and it’s even harder today because consumers have higher expectations than ever. They are our competition, and they’re shopping, checking our prices and demanding more service for the money they invest. Are you prepared to deal with these challenging clients?
How does your business stack up? We’ve created a Business Assessment for you, and when you score this, you’ll know what you need to work on to improve your business.
Since only 4 out of 100 businesses are still around after ten years, and if you don’t really have business skills, you could be one of the 96 that closes its doors.
I’ve thought a lot about our business and whom we serve best. Our ideal client is an entrepreneur that’s serious about building a business and has a revenue of $250,000 and above for our coaching programs. We do have programs for businesses that haven’t achieved the $250,000 of revenue – please reach out to our help desk and we’ll direct you to the correct programs for your stage of the business.
Why do I set these minimums? Because someone who wants to build a real business understands that it takes investing in your education to be more successful. I still have a business coach, and I continue to invest in Erin’s and my education. That’s the only way to stay competitive.
When you budget for education, you should allow between 3 – 5% of your gross revenue for education. If you’re doing $100,000 per year in gross revenue, your budget should be $3 – 5,000 for education. That investment should return at least $15 – 25,000 in gross revenue to your business. And of course, you can’t just take the classes, you have to do the work and apply what you learn.
If you’re not achieving the results you want, then something has to change. It’s important to identify where you have knowledge gaps and then fill them.
Most design schools do a good job of teaching design, but they don’t really explain how to run a profitable business, how to get clients, how to keep them happy and most importantly, how to get them to refer business to you.
You can either learn by trial and error which is extremely expensive, or invest in yourself and find out the shortcuts. The return on investment should be at least five times what you pay for it, and if so, then it’s a matter of cash out to get cash in.
I personally like shortcuts. Paying for mentoring and education saves time, money and stress.
Of course we want you to take our classes, but it’s because we want to help you succeed beyond your wildest imagination. We’ve been in your shoes and we understand your challenges. However, we may not be right for you, and that’s OK. Find someone that you trust to teach you. Just do it!
So … are you an entrepreneur or a hobbyist?
Ready For A Mentor, Advisor And Co-CEO Who Is Passionate About Design, Experienced In Business, And On A Mission To Help You Experience A Quantum Leap?