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Last updated on 2024年7月24日

Here's how you can effectively manage finances and ensure profitability in commercial design.

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Managing finances in commercial design isn't just about keeping the books; it's a strategic element crucial for the sustainability and growth of your business. You already have the creative vision—now it's time to pair it with financial acumen. Whether you're running a small studio or a larger design firm, understanding the flow of money, from the initial client deposit to the final project delivery, is key. By adopting a disciplined approach to financial management, you can ensure profitability while continuing to deliver stunning design solutions that keep clients coming back.

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Robert Hughey

Controller at TW Garner Food Company
Berend Van Aswegen, FCMA, CGMA

Finance Leader | FP&A professional | IT Costing expert | Power Query enthusiast |
Susan Kisamwa

Regional Finance Controller | Head of Finance | Financial Management | Digital Transformation | Governance | Leader |

1 Budget Basics

To ensure profitability in commercial design, start with a solid budget . Your budget should detail all expected income and expenses, allowing you to plan for future projects and avoid overspending. Allocate funds for materials, labor, and overhead costs, but also set aside a contingency for unexpected expenses. Regularly review and adjust your budget to reflect actual spending and income, keeping your financial goals on track. This proactive approach helps mitigate risk and lays the groundwork for a financially stable design practice.

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Robert Hughey

Controller at TW Garner Food Company
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First and foremost you must account for all known expenses then plan for any additional expenses that you may expect to occur and then try envision those surprise expenses that may occur. This seems logical but most overlook those surprises in their budgeting process. Once you plan for your contingencies you can work on your revenue goals.

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Mariana Ferreira

MBA Gest?o Financeira | Coordenadora Administrativa | Contas a Pagar e Receber | Faturamento e Cobran?a | Concilia??o Bancária | Notas Fiscais Entrada e Saída | Mercado Financeiro
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Para garantir a rentabilidade de um projeto comercial no setor de design, é essencial ter um controle financeiro rigoroso e um planejamento bem estruturado. Elabore um Or?amento Sólido; Aloque Fundos de Forma Estratégica; Reserve uma Contingência; Monitore e Ajuste Regularmente; Adote uma Abordagem Proativa; Colabore com Especialistas. Ao seguir essas práticas, você estará bem posicionado para garantir a rentabilidade de seus projetos comerciais e construir uma base sólida para o crescimento e sucesso contínuo no setor de design.

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Pitchou kanza Nyange

Engineering Plant Mechanical Supervisor
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établir un plan : Prenez en compte votre salaire net (après imp?t) et vos dépenses courantes. Identifiez vos besoins, vos désirs et vos rêves financiers. Faire le suivi : Notez vos revenus et dépenses pour savoir où vous en êtes. Cela vous aidera à rester sur la bonne voie. Révision et ajustements : Passez en revue votre budget régulièrement et apportez les ajustements nécessaires. Votre situation financière peut évoluer, et il est important de vous adapter.

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Shane Garrison

Project and Business Consultant; Strategic Planning Coach
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I regularly see people struggle with collecting the data to use. Incomplete data results in inaccuracies that multiply as your cost and break even calculations progress. Make sure you verify your numbers and account for ALL costs.

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2 Pricing Strategy

Developing a robust pricing strategy is vital. Determine your costs, then add a markup that reflects the value of your work and expertise. Consider value-based pricing, which sets prices primarily on the perceived value to the customer rather than just the cost of services. This approach can lead to higher profits because it aligns the price with the client's willingness to pay for your unique design solutions. Transparent communication about pricing helps build trust with clients and ensures that both parties understand the financial aspects of the project.

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Berend Van Aswegen, FCMA, CGMA

Finance Leader | FP&A professional | IT Costing expert | Power Query enthusiast |
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While it is true that your price should reflect the value you are adding, the revenue you generate must cover your cost (at some point) to ensure the sustainability of your business. Aligning your production capacity to planned sales volumes is essential. So is knowing your break-even point.

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Mariana Ferreira

MBA Gest?o Financeira | Coordenadora Administrativa | Contas a Pagar e Receber | Faturamento e Cobran?a | Concilia??o Bancária | Notas Fiscais Entrada e Saída | Mercado Financeiro
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Desenvolver uma estratégia de pre?os robusta é essencial para garantir a lucratividade e o sucesso de seu negócio de design. Determine Seus Custos: Custos Direto e Custos Indiretos Adicione uma Marca??o: Margem de Lucro Precifica??o Baseada em Valor: Valor Percebido e Diferencia??o Comunica??o Transparente: Clareza e Confian?a Revis?o e Ajuste: Análise de Mercado e Feedback do Cliente. Benefícios da Precifica??o Baseada em Valor: Aumento de Lucros, Fideliza??o de Clientes e Diferencia??o Competitiva. Ao desenvolver e implementar uma estratégia de pre?os robusta, você pode garantir que seus servi?os de design sejam lucrativos e valorizados pelos clientes, contribuindo para o crescimento sustentável de seu negócio.

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Florian A. Stefan

Creating Product Value | Director at Kearney
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What we see at leading companies when it comes to pricing is that they know the value of their complete portfolio rather than just a single product. Pricing should not only be based on cost-plus but also on a customer-perceived value business case. This approach includes considering the customer value as well as the product or service value. A good approach to value-based pricing can help companies deliver profitability while ensuring customer satisfaction and long-lasting growth.

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Pitchou kanza Nyange

Engineering Plant Mechanical Supervisor
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Analysez vos co?ts : Commencez par évaluer vos co?ts directs et indirects liés à la prestation de vos services. Cela inclut les matériaux, le temps passé, les frais généraux, etc. Majoration basée sur la valeur : Au lieu de simplement couvrir vos co?ts, envisagez d’ajouter une majoration qui reflète la valeur que vous apportez au client. La tarification basée sur la valeur tient compte de l’impact positif que vos solutions de conception auront sur leur entreprise. Comprenez la perception du client : Essayez de comprendre comment vos clients per?oivent la valeur de vos services. Quels problèmes résolvez-vous pour eux ? Quelle est l’importance de ces solutions pour leur activité ?

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3 Cash Flow Control

Cash flow is the lifeblood of your business. To manage it effectively, issue invoices promptly and follow up on late payments. Negotiate payment terms that favor your cash flow, such as upfront deposits or progress payments. Keep a close eye on expenditures, and delay non-essential purchases if cash is tight. A healthy cash flow ensures that you have the funds available to cover expenses and invest in growth opportunities without resorting to debt.

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Susan Kisamwa

Regional Finance Controller | Head of Finance | Financial Management | Digital Transformation | Governance | Leader |
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From experience, healthy cashflows ensures funds are available to cover expenses. Negotiating favourable payment terms, timely invoicing and keeping an eye on the receivables ensures a positive cash position.

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Mariana Ferreira

MBA Gest?o Financeira | Coordenadora Administrativa | Contas a Pagar e Receber | Faturamento e Cobran?a | Concilia??o Bancária | Notas Fiscais Entrada e Saída | Mercado Financeiro
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O fluxo de caixa é a for?a vital de qualquer negócio, e gerenciá-lo de forma eficaz é crucial para a saúde financeira e o crescimento sustentado. Com uma gest?o eficaz do fluxo de caixa, você pode assegurar a estabilidade financeira do seu negócio, permitindo um crescimento sustentável e a capacidade de enfrentar desafios financeiros com confian?a.

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Pitchou kanza Nyange

Engineering Plant Mechanical Supervisor
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Tableau de flux de trésorerie : Un outil essentiel dans la gestion d’une entreprise, le tableau de flux de trésorerie indique les entrées et sorties de fonds au cours d’une période donnée. Il se compose généralement de trois sections : Activités d’exploitation : Inclut les flux liés aux opérations commerciales (ventes, achats, salaires, etc.). Activités d’investissement : Comprend les flux liés aux investissements (achats d’actifs, cessions, etc.). Activités de financement : Englobe les flux liés au financement (emprunts, remboursements, dividendes, etc.). Objectif du tableau de flux de trésorerie : Il démontre la capacité de l’entreprise à fonctionner à court et à long terme grace à des liquidités suffisantes.

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4 Expense Management

Keeping expenses in check is crucial for profitability. Regularly review spending to identify areas where you can cut costs without compromising the quality of your work. Negotiate with suppliers for better rates or bulk discounts, and invest in technology that streamlines your operations, reducing labor costs. By managing expenses wisely, you can maintain competitive pricing while still achieving a healthy profit margin.

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Pitchou kanza Nyange

Engineering Plant Mechanical Supervisor
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Identification des dépenses : Commencez par comprendre les dépenses actuelles de votre entreprise. Analysez les co?ts fixes et variables, et identifiez les domaines où des économies peuvent être réalisées. Surveillance des dépenses : Examinez régulièrement les dépenses pour détecter les domaines où des réductions sont possibles sans compromettre la qualité. Cela peut inclure la négociation avec les fournisseurs pour obtenir de meilleurs tarifs ou des remises sur le volume.

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5 Financial Review

Conducting periodic financial reviews is essential for staying profitable. Analyze your income, expenses, and profit margins to understand the financial health of your design business. Use this data to make informed decisions about pricing, cost-cutting, and investment in new projects or resources. A regular review cycle helps you spot trends, adapt to market changes, and capitalize on opportunities for growth.

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Florian A. Stefan

Creating Product Value | Director at Kearney
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A proven approach to a product-driven financial review is cost and value management.On one side, it builds a foundation for cohesive target costing, such as when creating a quote. On the other side, it adds context to the cost of goods sold.While many companies have endless meetings between business, accounting, and controlling, driven by finding "the one explanation" for variance, companies that have implemented cost and value management can deliver that instantaneously. Digitization through cost structure integration into an ERP and PLC (Product Lifecycle Costing) software is essential for this.

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6 Risk Planning

Lastly, plan for financial risks that could impact your commercial design business. This includes market fluctuations, client churn, or project cancellations. Establish an emergency fund to cushion against unforeseen financial setbacks. Diversify your client base and services to reduce dependency on any single income source. By planning for risks, you can navigate challenges more effectively and maintain profitability even in tough times.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Here's how you can effectively manage finances and ensure profitability in commercial design.

1

2

3

4

5

6

7

1 Budget Basics

2 Pricing Strategy

3 Cash Flow Control

4 Expense Management

5 Financial Review

6 Risk Planning

7 Here’s what else to consider

Commercial Design

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Here's how you can effectively manage finances and ensure profitability in commercial design.

1

2

3

4

5

6

7

1 Budget Basics

2 Pricing Strategy

3 Cash Flow Control

4 Expense Management

5 Financial Review

6 Risk Planning

7 Here’s what else to consider

Commercial Design

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