How to Scale Your Interior Design Business to Grow Into Your Vision
In the prior blog post, we discussed 5 signs you are ready to scale or grow your interior design business. Now let’s chat about what that means and how to do it.
Clearly define your business goals and vision
What are your goals for the next year, 3-5 years? We want to grow and scale with the future in mind. If your goal is to work the same amount of time with the same types of clients and projects and make more money then your way of scaling may be very different than the person who wants to reduce their time working and make the same amount. If you are wanting to build a firm and have many levels of associates working as a team, that plan is entirely different. Brainstorm and really give thought to where you want to take your business.
Identify your pain points
What hurts the most? Seriously, write it down. Try this – get a piece of paper and write down every task that you would love to delegate to someone else or never have to do again. That is a good place to start. My pain points, in the moment, may be different from yours. But once we have the activities written down that we don’t like to do, that overwhelm us, that we want to give away – we start to see a bit more clearly which areas of our business need help the most.
Determine Timing
How much longer can you continue doing business like you currently are? Do you have time to be more relaxed in solving the growth challenge? Maybe you are thinking about this well in advance and laying the groundwork for the future. Or perhaps you are up against a hard place and need to make changes quickly. Knowing your timing will help you in your decision making.
People or Technology – or both
Honestly, I am a fan of getting processes and technology in place as soon as possible then hiring. (Unless you need to hire to do the technology.) Having a plan allows you to hire with intention. You know the job that needs to be filled (see your pain points above) and are able to have a technology solution that you or a new hire can use. Good systems and processes are vital to success. Hiring a great person while having a terrible (or no) process is a set up for failure. Great business growth is getting them both right.
Set aside the money
Business growth happens with intention and with investment. How much are you willing to invest in these changes – both in time and money. Bringing on a new technology solution or a new staff person takes both. Time to ramp up and a plan to pay. When hiring a person, save three months of their salary prior to the hire. That will allow you a cushion of cash flow to bring them on and train them, without the pressure to be billable on day one. To me, this is crucial. If we cannot save the money to know we can hire, how do we think we can keep them employed?
Every business to grow needs help. By knowing your goals for the business and identifying what is stopping you, then putting systems, technology and people in place, you are setting yourself up for success. But don’t forget the timing and money. It can be terribly disrupting to a business to make all the changes at once or to not have the money to sustain the changes. Grow with a plan in place. Evaluate the growth and adjust as needed. Remember, there is more than one way to grow a firm.
we look at scenarios and discuss the real business problems in front of each entrepreneur – then help make a plan for scaling. Join us and let us help you do the same.
In The Designers’ Inner Circle, The Designers’ Inner Circle we look at scenarios and discuss the real business problems in front of each entrepreneur – then help make a plan for scaling. Join us and let us help you do the same.
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