When I started my firm, I didn't have much experience with business. In particular I felt unsure about money matters. Luckily I stumbled upon a business attitude that partly made up for my lack of experience.
I discovered how to apply certitude (real or feigned) to replace uncertainty.
Most Architects can’t afford to do accounting
The reason is simple. Most architectural firms have less that 10 people.
By most, I mean 80%.
And architects can’t afford it because it takes at least 20 hours per week of someone’s time - on average. Just for accounting functions.
The Financial Model of an Architect’s Office is a well-kept secret. I have never seen it mentioned anywhere. But there are several things that need to be in balance to get positive financial results. The resources available from the AIA are only useful if you already have an MBA-like understanding of finances.
A Financial Model entails more than “Income minus Expenses should be a positive number.” Negative numbers equal poison. You can’t survive much poison.
I have to mention Page Highfill here. He is the architect who told me about the
financial model that architects need to know about.
The short answer. A benign version of Facebook.
Do you remember when Facebook first come out. You saw your friends posts and they saw yours. My account has evolved into something I am not interested in any longer. My News Feed seems to be 50% showing off what you just did, and 50% people’s opinions about politics and other stuff that I am supposed to do something about if I agree.
Oh, and ads.