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Financial

Finances-How to Build Your Financial Chops

Building Your Financial Chops

Of all the many areas of business that demand your attention, finances is probably the one most designers like least. It’s not that designers are not accustomed to working with numbers (far from it!) or that finances bore them. In my experience, the reason usually is that they have not been properly educated as to…

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Making Tough Decisions

By Gail Doby, ASID CVO and Co-Founder of Gail Doby Coaching & Consulting Being the boss is not always the greatest job in the world, especially when it comes to having to make the tough calls. They often are stressful and can generate a lot of bad feelings you’d rather not deal with. Still, the…

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Are You Watching Your Bottom Line?

There are numerous terms used in business, but one of the most important to fully understand and consistently watch is your “bottom line”. Just as a reminder, your bottom line refers to the profitability of your business after all expenses have been deducted from your revenues. So bottom line profits are net profits after all…

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Do You Struggle With Numbers?

Financial Guidelines

By Drue Lawlor, FASID Director of Coaching at Gail Doby Coaching & Consulting “Beware of little expenses. A small leak will sink a great ship.” -Benjamin Franklin Talk about these topics at GE: Even if you’re creative, you need to understand them, negotiating pricing with manufacturers at market, expand or stay lean. Are you overwhelmed…

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Plan for Growth in 2019

By Drue Lawlor Director of Coaching at Gail Doby Coaching & Consulting Photo Credit: @bakerbroductions “If one does not know to which port one is sailing, no wind is favorable.” ~Lucius Annaeus Seneca As we reach the end of 2018, you, along with your team, should be evaluating the past year in order to plan…

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Profit Is What You Keep; Not What You Earn

By Gail Doby, ASID CVO & Co-Founder, Gail Doby Coaching & Consulting & Design Success University Designers, I often find, are not always clear on their financial goals. Frequently, they confuse revenue with profit. Revenues are what you bring in to your firm by way of sales. Profit is how much of that money you…

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Creating Your Budget

By Gail Doby, ASID CVO & Co-Founder, Gail Doby Coaching & Consulting & Design Success University Many designers want to know how to earn more money from their business. I tell them it starts with establishing a budget. It’s a lesson new business owners often learn the hard way after years of bringing in a…

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Never Miss Another Deadline

By Gail Doby, ASID CVO & Co-Founder, Gail Doby Coaching & Consulting & Design Success University Fulfilling your obligations is the mark of a true professional, and that includes meeting deadlines.  If you struggle to keep on top of your commitments, take some time to think about what’s getting in your way. It usually comes…

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Are Your Interior Design Fees High Enough?

Many designers set their fees based on what their peers charge, and that is the wrong way to set your fees. How much do you want to earn per year? At the most, you will be able to bill 50% of your time if you are the CEO of your business, so if you work…

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