Designing Your Design Business – Successful Designers Business Model

designers business model

While it would be unethical to copy the work of a more successful interior designer, learning from a successful designers business model makes perfect sense – and does not present the question of ethics.In his latest article for BusinessOfHome.com, columnist Maury Riad presents a glimpse of just such a business model and offers it as a guide for both fledgling and established designers to follow on the path to lasting success.While it should go without saying that clarity of focus and organization are two of the most crucial business principles every design business should follow, many designers struggle to achieve them. If profitability depends on performance at every level, and it does, then building a cost-effective process for implementing the work you do is crucial.3 (+1) Characteristics of a Successful Design BusinessSo, where does Mr. Riad focus his attention?

1. Operational Procedures – “The big difference that I’ve noticed between a designer who is just starting out and a more established studio lies in their operational procedures. It may sound obvious, but a major key to any design firm’s success is business practices that are organized, efficient, and thorough. Where working with a new designer may require a lot of back and forth about a handful of purchase orders or invoices, an established, profitable firm can juggle thousands of these processes at any given time.”

2. Vendor Relationships – “Profitable designers know how to leverage their vendors as extensions of their teams to get their work done. Any given design firm works with a wide range of vendors – whether they provide fabric, furniture, or flooring – and knowing what their vendors can do for them is crucial to their success.”

3. Elevated Design Opportunities – “The whole impetus behind hiring an interior designer – besides having someone else do the legwork for you – is the idea that they can find the decor that clients can’t achieve themselves. This ties back into maintaining good relationships with your vendors… [and] involves knowing who to go to and what to ask for. The right pieces or components elevate your design above the ubiquitous DIY aesthetic that is so popular today – and are the reason your clients will seek you out.”

What’s the +1 Design Business Characteristic?While each of these business characteristics of successful designers is vitally important to your success, we would add:

1. Contractor Relationships – The contractors and subs you work within any design project can make or break your business. These folks will often have more direct contact with your client than you do, which makes the relationship you have with them critically important. Building positive relationships with talented and committed contractors foster loyalty toward you – investing them in the success of your design business because they know that their success is dependent on yours.

While most of these characteristics of aa successful design business may seem obvious, the truth is that many designers struggle to craft and implement something that matches the most successful designers business model. By focusing on these four areas of your business, you are far more likely to enjoy long-term success.Are you 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.

Designing Your Design Business – Your Design Studio is a Good Investment

Does it still make sense to invest your hard-earned revenue in a design studio when online shopping has become so popular? In a word, yes.In a previous post, we shared the importance of designing a strategic business plan for your business. Here, we argue that investing in a design studio should be an integral part of that plan; a comfortable and stylish place to schedule face-to-face meetings with potential clients, as well as a beautiful space that allows you to share your vision with them.The reason for this is simple: despite the popularity of internet shopping, and your concurrent need for a quality website to showcase your talent, potential clients will want to touch and feel samples while also meeting you personally. You also get to know them better and both of you will benefit from engaging in an environment that promotes building a relationship.This is simply impossible to accomplish in the impersonal world of the internet.Brick-and-Mortar Locations Remain Valuable Client Acquisition ToolsIn a recent article at BusinessOfHome.com, editor-at-large Maury Riad makes a compelling case that traditional brick-and-mortar design centers remain important to vendors in the age of internet shopping.If that is true, then investing in a design studio also remains important to interior designers, for some of the same reasons:

• Brand building – Building your brand, a unique identity within your market, is difficult to do in an environment that is flooded with competitors from around the world (as the internet is). On the other hand, a well-designed retail location puts you right in front of clients and potential clients. Being able to see and speak with you directly will only enhance your brand as one of the few designers willing to make such an effort – and investment.
• Reputation enhancement – Like building your brand, building your reputation in a highly competitive marketplace is difficult in the extreme. In-person contact with potential clients, and being available to existing and past clients, ensures that you will be seen as a designer who is committed to customer service and satisfaction. And, since interior design is above all things a local business, enhancing your reputation locally offers massive potential for success.
• Relationship building – Building relationships is critical to your long-term success as a designer. We’ve said it before (here) and will say it again: repeat customers are more valuable than new customers since they are more likely to buy from you and are less costly to engage, offering you a far greater ROI. Your design studio is the perfect place to re-engage with them and build a lasting relationship that can lead to future work for them. It’s a win/win for both of you.
• Vendor support – Vendors love to support interior designers who feature their furnishings in their design studio. They tend to offer better pricing and larger discounts, sneak previews of new designs, priority shipping, enhanced payment terms, and even cash-back promotions that can help reduce overhead. Such vendor support can be invaluable to your business and you should take advantage of these types of relationships whenever possible.
• Community involvement – Being seen as an integral part of your community will automatically build brand recognition, enhance your reputation, and leads to great relationships and profitable networking opportunities. It is also fulfilling on both a professional and personal level. Get involved and make your mark in your community, if you hope to have long-term success.

While it may seem to make sense that the expense of maintaining a design studio in the internet age flies in the face of logic, for the reasons listed above, and more, a brick-and-mortar location makes perfect sense for the 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.