How to Best Manage Your Architecture Firm’s Finances?

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As I share my personal story in the video, I mean it! It was not easy for me when I was a practice owner.

Financial Management problems start with you!

If you feel uncomfortable with raising your prices, setting up your value, and if after reinvesting money into the business you can not see much profit you have to invest in your education and become better at it!

Several options are available for you:

Of course, the first is to attend Disrupt and learn directly from the best in the field.

The second is to book a call with me and I will help navigate towards the most affordable and bespoke, longer-lasting solution.

Well managed firm finances can be a raise to glory but if you fail at keeping them under control they quickly turn into a silent assassin. Why? Because, since as architects we don’t get much business education in school one of the common downfalls proves to be mismanaged finances.

Post-corona, the AEC industry is facing an unprecedented demand for architecture services. Therefore if there was ever a time to say that slow-paying clients are not acceptable, it is now.

What strategies do you need to consider for financial profitability? How to diversify your efforts to ensure a stable flow of income and firm growth? What tools do you need to manage your finances in the right way? What are the key most important things?to think about as a business?owner from a strategy?and development?perspective? How to price your projects accordingly??

The problem of not being paid on time proves to be a pressing issue for both: big and smaller firms. When I started working as a business consultant for Architecture firms, I started by servicing smaller firms. Almost every single client who came to me struggled with their firm's finances. Some clients take as long as a year to pay their bills. At the same time, firms are having difficulty staffing up to meet the demands of their new clients.

The unfortunate fact is that if the firm is not big enough, it may really be affected by the irregularity of payment vs team growth.?

The working capital problem is one that a lot of people in this business don’t understand. It’s a huge problem and one that needs a lot more attention and education if AEC firms are going to deal with it.?

We will discuss this topic in more detail at Disrupt Symposium 1-5th May 2022!

Kathy Dixon will present more about it in her presentation "How to manage your practice finances."

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