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Architekwiki

A Resource For Architects

Budgeting For Expenses

11/26/2017

I have always found that one of the key parts of getting a grip on the firm's finances is to have a good idea where the money goes. You might not need all the line items in the budget template here, we didn't; but it is helpful to start with all the possibilities and narrow things down from there.

Fessin' Up

11/12/2017

Have you ever screwed up?

I do all the time. Luckily, the vast majority of my screw ups are small and don't affect anyone else.

When you make a mistake as an architect, the ramifications can get alarming very quickly.

Big Picture Advice You Can't Ignore

11/4/2017

Big Picture Advice For Success

I received the best advice of my career, two years after retiring.

That's when I finally got around to investigating the E-Myth. I was cleaning up old TO-DO lists, and got intrigued. What I learned is what 'working ON your firm' rather than 'working IN your firm' means in a practical sense. The Bottom Line: Develop your firm as though you plan to franchise it - even if you have no intention of doing that. If you don't make your firm into a 'franchise', then you and your firm are the same entity - and the firm only has value while you are part of it. If building a franchise is off-putting, you might think of the strategy as documenting your business knowledge, your methodology, your "How we do things around here". Besides the economic advantage of building a replicate-able business that you can eventually sell, there are three other main advantages.