Episode Details

Cheryl and Liz from In Detail Interiors discuss the significance of project pricing and minimum spend requirements for achieving profitability in your design firm. But what exactly do these terms mean, and how can you integrate them into your design business? Today, they will discuss the strategy of implementing this business model  and explain why this can be a major win/win for both you–and your clients if you are going about it with intention.

 Stay tuned to the end to hear this episode's Damn Good Truth!

Read the latest issue of the Damn Good Designer magazine here! You will love it!

IN THIS EPISODE:

• [01:33] Cheryl defines a project-pricing business model and explains how it works.
• [05:42] Liz further explains the concept of project pricing and a minimum expenditure
• [10:41] Establishing vendors will make the project a win-win when you use them regularly
• [13:54] Some clients are hourly versus flat fees, but the minimum expenditure is key
• [19:45] How they repeat no less than five times critical information the client should know
• [32:43] Discussion of why operating your business on a project pricing structure means you can project profit more effectively
• [34:55] Cheryl’s damn good truth for this episode 

KEY TAKEAWAYS:

• We have determined that we need the minimum expenditure from the project at hand to say no to future business and remain profitable.
• Flat fees are how a firm can grow because they allow you to project the profit.

Sponsored By : The Design Paradigm

Building your business one layer at a time. The Real deal in running a successful business with a proven model. A comprehensive and Powerful Business Model for https://www.theinteriordesignparadigm.com

RESOURCE LINKS:

Damn Good Designer - Website

The Interior Design Paradigm - Website

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ABOUT THE HOSTS: 

Cheryl Kees Clendenon

2021 KBB Person of the Year

2022 Design Studio winner Dallas Arts Awards

2021 Changemaker Design Hounds

200 or so years ago, a child came roaring into the world feet first, ready to show up and argue a cause. Just because. Her mother still maintains the story is- she was screaming-“Why?”- from the minute she landed the wrong side up and slapped the doctor for disturbing her afternoon nap.

To this day, she does not give “it” a rest except when she is sleeping, which is where you will find her only between 2 a.m. and 7:30 a.m. A belligerent non-smoker (in case you were wondering) and a frequent challenger of anything that resembles “normal” or desired by the masses, Cheryl is a natural-born contrarian who talks faster than 2x speed on a podcast.

She gravitates towards wanting to help clients and designers who are the square pegs in a world of round holes; she loses earrings impossibly frequently, falls off of platform shoes and is unapologetically saucy. Relaxing is not in the skill set. Life begins and ends with family.

Her sacred words are Why, Percipient, Whizbang and Profit. But please do not say the words Package, Blocks, Red Flag, Overwhelm or Picked. Hives break out, and it gets ugly. 

Liz Lapan

VP of Everything, Interior Designer,  Work Wife, Team Cook, Unicorns