Bye, Bye Resolutions & How Acceptance Lowers Stress

That’s right, it’s time to say bye, bye to your New Year’s resolutions and accept that making them didn’t work out – again! Does this sound like you? Yeah, you’re not alone (believe it). You’re also not alone if you’ve made resolutions every year for decades and rarely (if ever) followed through on them.

But that’s OK because, depending on whom you believe, something like 80% of resolutions goes bust within the first month or two of every year. This begs the question of why we keep doing the same old thing and expecting a different result. (We all know what Einstein said about that, right? Coo-Coo for Cocoa Puffs!)

Why does this happen so consistently? Well, stated simply, it’s because you're human: life and work get in the way while enthusiasm fades. Other priorities kick in. Old habits persist and are hard to change. Limiting beliefs hold you back. It’s hard to let go of last year and focus on this year. You always aim too high and fall short. The list is almost as long as the number of people who make resolutions each year.

So, what to do? What to do?

Change Your Mindset and Accept Slower Change

Making changes is NOT easy. Truly, old habits die hard, and familiar ways of thinking (and feeling) become like that worn-out but comfy old sweater you can’t throw away. Yet, it’s also true that sometimes what’s familiar no longer works – and that’s when changes need to be made.

(BTW… Though this is a business blog, these lessons apply to both your personal and business lives.)

In practical terms, change is stressful and can be frustrating. Failing to reach goals is discouraging and the resulting negative expectations lead to a self-fulfilling lack of faith in yourself. All of this can lead to a persistent, negative mindset that virtually guarantees your goals will not be realized.

“The unfortunate truth is that change, all change, entails some degree of emotional friction, which in turn generates a ‘heated state’ we call stress. Whether you're feeling anxious, depressed, frustrated, fatigued, weak and out of control, or simply bored, emotional friction (stress) becomes the high-octane fuel of failure. When it comes to handling the stress involved in change, many well-adjusted, happy, overweight, out-of-shape people share the fundamental problem of self-sabotage.” (USNews.com)

So, unless you change your mind first, you can’t expect change or acceptance to follow.

Power of Positivity & Successful Goal Setting

Professor Carol Dweck at Stanford University has found that when it comes to achieving success, more important than believing in our abilities is the belief that we can improve upon our abilities. While much has been written about how these beliefs shape our individual success and well-being, her latest research suggests that these beliefs also exist within our organizations, and shape our ability to create innovative, risk-taking cultures and have happier employees.

Research done at Harvard has shown that, if you train yourself to see stressful situations as challenges rather than barricades, a situation to overcome rather than an impossible barrier, you are far more likely to experience “good” stress rather than “bad” stress in that situation. Doing this then leads to the release of the “feel good” enzyme dopamine which leads to a more positive mindset.

Further, as presented by researcher and psychologist Shawn Achor in his entertaining and very popular Ted Talk, there is also ample research that shows a positive mindset affects every aspect of life, including work. Positive people are happy people and happy people are successful people – not the other way around.

As he explains, and as the latest research into the structure and function of the mind suggests, success does NOT lead to happiness; happiness leads to success!

In other words, mindset is the key to success in life and business because a positive mindset leads to:

• 23% Reduction in stress

• 39% Better Health

• 31% Increase in productivity

• 34% Increase in positive social interaction (relationships)

• 37% Increase in Intelligence

“Huh?” Yes, take a look at that last one again. A positive mindset will not only reduce stress, improve your health, make you more productive, and improve your relationships – being positive will also make you smarter!

While there is plenty more to be shared on the relationship of mindset to successful yearly resolutions and goal setting, we’ve pretty much hit the limit for a blog post. So… stay tuned for more in future posts.

Looking for more tips on goal setting for growing your business? Ted remains available for business consulting to interior designers and luxury furniture dealers across the US. Simply… Get in touch with TD Fall today.

Goal Setting for Success – How to Set Reachable Business Goals

Far too many people, whether in business or their personal lives, set unreachable goals, only to wonder why they never achieve them. As an entrepreneur with a growing business, you are a team leader as well and it falls to you to set reachable goals for your business and your team members. Goal setting for success requires that all targets must be realistic, specific, and reachable or they are a waste of time and energy for you and your team.

Business goals that are ill-defined or patently ridiculous do no one any good, least of all you; as poor goal setting will reflect badly on you as a leader. You will be perceived as either unrealistic or ill-equipped for the job. Both of these impressions undercut your authority and make you a poor leader.

Here are a few things to consider about the goals you’ve set for your team – or yourself:

·         The goals you set must be specific

·         The goals you set must be attainable

·         The goals you set must be tailored to your team

·         The goals you set must benefit your business – and your team

A broad-based concept such as “To sign more clients,” is not a proper goal for a professional business environment. It is far too nebulous and requires little commitment from your team members. A more specific goal, such as “I will close 50% of all new clients this year with budgets of at least $500,000.00,” is far more productive. It is clear and concise – and it is also measurable. A goal that cannot be measured can rarely, if ever, be met.

Well-defined goals get met, vague goals do not

Better yet is a set of incremental goals for your team to aim at, such as: “I will close 50% of all new clients this quarter, and 55% next quarter, and 60% the next quarter …,” and so on. This will keep every member of your team focused on constant improvement and, once again, it is measurable.

It goes without saying that the numbers must be realistic – or it should – but specific goals such as these are much more valuable than some vague notion of “getting better.” If you truly want your team and your business to “Get Better,” help them set goals they can actually achieve – with goal setting for success as your goal as their leader for this year, and beyond.

With more than 25 years of experience in the luxury furnishings and interior design industries, Ted has pretty much seen it all. So, if you're ready to work with a professional consultant who can help you set reachable goals for your design or furnishings business… Get in touch with TD Fall today.

Goal-Setting Tips – How to Set Realistic Business Goals

After the debacle that was 2020, setting goals for your business has likely been difficult in the extreme. Now, as we move through mid-spring 2021, it might be a good idea to pause and consider the things we’ve done for our businesses so far this year. After all, according to the latest statistics, fewer than 10% of people keep their resolutions each new year; with 45% failing to reach new goals by the end of January and some 80% giving up by the time March rolls around. This leads us to wonder which goal-setting tips might work for setting realistic business goals.

Have you given up on the business goals you set for this year? You're not alone!

Far too many business owners set either vague or unrealistic goals for themselves, their teams, and their business, making them difficult to achieve. Setting a vaguely worded goal like  “I want to sign more clients this year,” is too ambiguous to capture the imagination, energy, and focus of your team.

If you make your business goals more focused and specific, such as “We will close 50% of all our client projects this year,” it will be far more productive. It’s clearly worded and concise – and it’s also measurable. A goal that cannot be measured will rarely, if ever, be met.

Well-defined goals get met, Ill-defined goals do not.

And so, with all of that in mind, we offer a few things to consider about the goals you’ve set for your business, your team – or yourself:

• Are the goals you set this year narrowly defined and specific?

• Are the goals you set this year attainable and realistic?

• Are the goals you set this year tailored to the talents and skillsets of your team members? (Or yourself?)

• Are the goals you set this year an actual benefit to your business – and your team?

Goals that are ill-defined or patently unrealistic do no one any good, least of all you. You see, poor goal-setting reflects just as poorly on you as a leader and frustrates your team because they’re unreachable. You will be perceived as either impractical or ill-equipped for the job. Both of these impressions will undermine your authority and make it difficult for others to perceive you as an effective leader.

If you're experiencing high turnover or indifference in your team, this may be the reason.

Incremental Goal-Setting Tips

The best goal-setting tip we can offer is to put together a progressive list of goals for your team to aim for, such as, “I will close 50% of all of my clients this quarter, 55% in the next quarter, and 60% in the next quarter …”, and so on. This will keep every member of your team focused on growth and personal improvement and, once again, their performance toward their goals is measurable.

And so, we say again, the numbers must be realistic and, as we also say again, specific goals such as these will be much more valuable to you, your business, and your team than some vague notion of “getting better.” If you truly want your team and your business to “Get Better,” help them set goals they can actually achieve – with goal-setting for success as your goal for this year, the next, and beyond.

Ted remains available to work with you on a case-by-case basis, offering more goal-setting tips and business consulting that is targeted to your needs and, well… your business goals.

With more than 25 years of experience in the luxury furnishings and interior design industries, he has pretty much seen it all. So, if you're ready to work with a professional business consultant who can help you grow your business with reachable goals… Get in touch with TD Fall today.

Designing Your Design Business – New Year’s Business Detox

A new year is traditionally a time for making personal changes, often including a detox to make the body feel better and improve energy levels. Others remove clutter from their houses and/or garages as a way to free up space and clear their minds. Then again, though rarely thought of, a business detox presents opportunities for reducing stress, increasing energy levels, and improving overall health.

What do we mean by a “business detox”?

It’s not about “defining your mission”, “articulating your vision”, or even “setting realistic business goals”. While there is nothing wrong with those (and, in fact, they have great value), a business detox is more like a body detox; an effort to cleanse your business by removing impurities and toxins that may reduce profitability, and could be getting in the way of enjoying your work.

Perform a Business Cleanse

These include the things that make running your design business stressful (and less than enjoyable), such as:

• Collections – Outstanding invoices are a real drag. Knowing you’ve completed a project but have yet to be paid is stressful and emotionally exhausting. It’s time to get busy on collections by creating a list of anyone who owes you money, contact them and demand payment, then follow through on any payment schedule you agree to. Diligence is the key to getting paid all you're owed.

• Clean up old debt – Owing money is no more pleasant than being owed so, make a plan and do all you can to pay down your business debt and try to work on a cash basis as much as possible. You’ll be very pleasantly surprised by the sense of freedom you experience from dumping business debt.

• Flush stale emails – Hate to say it but, that email link to an article you had to read – from five years ago – needs to be deleted. If you haven’t had the time, or the inclination, to take action on emails that are 4-6 months old, you probably never will. So, DELETE. If, on the other hand, you have important communications that need to be saved, schedule some time to set up folders for them, then schedule a time for following up – so you can finally get rid of them! 

• Fire problematic clients – This may include some of those “slow pay” clients you've put on your old debt list. The old adage “The customer is always right” is not (and never has been) true so, when they are more trouble than they're worth, get rid of them. You would do well to remember though, that some clients are profitable despite the problems they cause and, in the long run, may still be worth the hassle. Schedule some time to detox your client list by cherry-picking the ones who spend enough that you want to keep them; then, go ahead and fire the rest.

• Dump non-supportive suppliers – Not all suppliers are created equal, and neither are all sub-contractors. Life is too short, and business too demanding, to have to work with companies and people you dislike and who refuse to support you. Make 2020 the year you finally choose to detoxify your supplier list, and while you're at it, get rid of those subs who think they’re doing you a favor by working with you, too.

One last tip to help you detox your business is – delegate tasks that you should not be doing every day. You can easily outsource things like billing, tracking, and even project management. This will give you the time you need to better serve existing clients, acquire new clients, build relationships with suppliers and sub-contractors, and run your design business the way you imagined when you began.

Looking for more tips on designing your design business, how to perform a business detox, new home design trends, designer marketing tips, and product ideas? Get in touch with TD Fall today.

Designing Your Design Business – Designing a Strategic Business Plan

It occurs to us that we may have erred in our first post in this series about designing your design business. In that post, we took for granted that our audience was already familiar with the idea of designing a strategic business plan that would increase their odds of success. Today, we hope to remedy that error.Regardless of niche, building a successful business requires planning, as well as implementation. Strategic business planning focuses on all areas of your business, with goals for both short- and long-term success. Without this type of planning, you will be forced into a seat-of-the-pants approach to running your business, adding stress, sapping energy and focus and, almost guaranteeing your dreams will not be realized.While it’s not our goal to offer a template for creating an actual business plan, something you might submit to your bank to acquire a business loan for example, we would like to share some ideas for strategic business planing. These are the broad strokes we have found invaluable for successful interior design and furnishing businesses, whether online or brick and mortar.Successful business owners focus on the big picture as well as the day-to-day minutia of running their business. They know the details are important, like paying bills and employees and handling paperwork but, they are also conscious of the larger issues; what the competition is doing, latest market trends, how their clients are being satisfied (or not), and more.Thinking about the Big Stuff and the Small Stuff all the time can be taxing yet, that is what a leader must do.

Designing Your Strategic Business Plan

Here are some things that can make this easier for you:

• Goal setting – for the moment and the future. Having a Big Goal for your business is great but you can’t focus on end-of-year stats while ignoring daily, weekly or monthly performance. In other words, if you hope to grow sales by 10% for the year, you will need to focus on increasing sales by a bit less than 1% per month. In other words, setting incremental goals will make achieving your larger goals much more likely.
• Vision and mission – including your dream and purpose. The vision you have for your business can be anything you dream of achieving, while your mission should be about how you plan to get there. It should also be client-focused and benefits-based; that is, how your business goals and philosophy will make a positive impact on the lives of your clients.
• Focus on relationships – with clients, suppliers, contractors, and subs. In both the short- and long-term, your greatest business asset is the relationships you build. Working with contractors and subs whom you know and trust (and who know and trust you), has value that is almost impossible to quantify. The same is true of existing clients, who are far more likely to work with you than a prospect (see this post for more on the value of current clients).
• Be realistic and practical – when setting goals. Goals are used to help a business grow and achieve its objectives. You can use them to promote teamwork and help describe what you want to accomplish. However, setting too many goals for the year (or too big a goal) can lead to problems. Too many goals can diffuse your focus and too big a goal may well be impossible to achieve. If you “keep it real” and use incremental steps to get there, you are far more likely to get where you want to be.
• Stay focused – on your vision, your mission, and your goals. When your business goals are tied to your vision and your mission, along with realistic steps to achieve them, it becomes much easier to stay focused on things that matter and ignore the rest. This reduces stress and helps you maintain the mental and emotional energy you need to run your design business effectively. That’s a big win/win for you as both an interior designer and business owner.

It’s very important to remember that your business plan should be used as you start your business (to obtain funding or direct operations, for example); while your strategic business plan is primarily used for implementing and managing the overall direction of your business.The difference is significant and critical to the long-term success of your design business.Looking for more tips on designing your design business, new home design trends, designer marketing tips, and product ideas? Get in touch with TD Fall today.

3 Interior Design Tips - Planning for Next Year

As we head into the last quarter of 2017, it’s time to begin planning for next year. Say what? Yeah, the year’s not over yet and it’s time to plan for 2018? Well, only if you want to be successful!

And, that’s one of the tips that we’d like to offer: setting goals and developing strategies to achieve them for next year cannot begin too soon. In a recent HuffPost article, author Ira Kalb offers some great advice on how to create a viable marketing plan for the new year – and successive years.

• Goal setting – The goals you set for your business must be measurable and challenging. Measurable goals give everyone a common target, while challenging goals keep people interested, help to avoid boredom, and motivate your team to reach their potential. While you don’t want to overreach, you also don’t want to lower expectations. Set a realistic goal based on experience, then add a few percentage points so of growth to keep the adrenalin flowing.
• Marketing strategy – From branding to promotion and from pricing to information systems, your marketing strategy encompasses all aspects of your business. Having measurable goals means you must be able to accurately measure them, after all. Keeping your name top-of-mind in the marketplace, while differentiating yourself from the competition enhances your brand. Knowing what the market will bear in pricing will enable you to protect your profits. Stay on top of these things and you’ll have a banner year in 2018.

Color Trends for 2018

With each new year we see changing color trends. At times, these trends can be quite stark, while at other times we see more subtle changes in the color palette. For next year, shades of green and blue lead the way, while black, pink, and metallics are being used to make statements. (Not in the same rooms, hopefully!)

According to Elle Décor, These Are the Colors Everyone Will Be Talking About In 2018.

Black as a “statement color”.

Pink as a “power color”

Metallics as “neutrals”

Design Styles by Age

While we shudder at the thought of being labeled “ageist”, we also must recognize market trends when they speak to us. besides, we’re not claiming that age is a defining factor n interior design trends, ArchitecturalDigest.com is making that claim.

In a recent article titled, “The Top Interior Design Styles Based on Age”, they state that we should “Add decor to the long list of things millennials and baby boomers disagree on.”

And, it actually makes little sense that millennials would seek out “refined rustic” interiors as baby boomers do; or those baby boomers would become fixated on modern, minimal mid-century design, called "mod visionary", as their grandchildren do.

While nothing is ever written in stone about such trends, the article is certainly illuminating.

Looking for more new design trends, marketing tips, and ideas? Get in touch with TD Fall today.