Category: Business Management

Architekwiki

A Resource For Architects

The 6 Ways To Set Hourly Rates

7/4/2022

At one time or another I have used each of these methods. Those sometime painful experiences are the basis for my recommendation.

Profits and profitability for architects

6/23/2022

If work load is adequate but you aren’t making a profit, the cause is easy to find.

The Three Aspects

5/5/2022

In order to build a successful architectural firm you need to master
The 3 Aspects.

CODA For Architects

4/6/2022

There is a new tool that could be a game changer for your firm.
Read on to see what Coda can do for you.

Whether you have arrived at a fee by a wild guess or a fee schedule you want some kind of corroboration.

One option, if you keep good records, is to compare this project to a similar project. Was the fee adequate on that other one? Usually the two projects are dissimilar in some way.

Another way of checking the 'rightness' of an architectural fee is to evaluate its 'rightness' when viewed as a design budget.

This option involves doing an evaluation. It is fairly easy to 'spread out' the fee over the design phases to see how adequate the fee actually is.

Here's How...

Your BOF

2/14/2021

Determining your Billing Overhead Factor [BOF] can be an eye-opening exercise.

I learned this technique from Paige Highfill, an architect, who was teaching other architects how computers can be used in architecture even before CAD came along. When I tried out the calculation, I was shocked to find that we were losing $15 per hour on every hour we billed! I suggest that you avoid that situation.

Daily Timekeeping

1/31/2021

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If you don’t document your time daily, is it timekeeping or something else?

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Financial Management for Architects - Fundamentals 1

10/25/2020

Fundamentals - How an Architectural Firm Works

Architects Financial Model

10/8/2020

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.

Financial Management 101 for Architects

9/12/2020

Architectural financial management has two components -
bookkeeping and accounting.

Vision-Mission-Goals

8/25/2020

These terms just might be meaningless.

Downsize Your Accounting

8/25/2020

What You Need To Know

93% of architectural firms don't need accounting - bookkeeping is plenty.

Architectural Economics

7/27/2020

It is simple math and there is no way around it.

Invoicing Issues

3/7/2020

The most important things about invoices.

Expenses - Just Say No

1/18/2020

Having my own firm gave me the opportunity to make lots of mistakes;
and I took advantage of nearly every one of them.

T12M Charting Tool

9/30/2019

I have Kraig Kramers to thank for describing how this tool works.
The tool is called a ’Trailing 12 Month’ chart.

Top Level Organizing

9/22/2019

Organizing the 40+ subjects an architect works with.

PTO Tracking

7/20/2019

How I track PTO

Organizing Your Files In The Cloud

3/9/2019

If you are happy with your way of storing your files, then this won't help you. If not, you may get an idea or two here.

Hiring. Firing. Interns.

2/16/2019

I am sharing my OPINIONS here because I was an
HR novice till the day I retired.

Construction Administration Economics

1/26/2019

If you do a good job of Construction Administration,
you, the architect, will lose money.
Guaranteed.

Business Management

1/14/2019

Unique Methods Ideas For Business Management

How To Easily Start A Detail Library

11/25/2018

The Dewey Decimal System

Why You Should Have a Detail Library

Working Profitably

9/23/2018

Three things are needed to be profitable. Of course I am referring to the time after you have secured a commission to design a project and also a reasonable fee to do the work.

Timekeeping

9/9/2018

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How often do you complete your timesheet?

I personally have used 'twice monthly', 'weekly', and 'daily' timesheets. You are probably different than me; but when I filled out my timesheet it usually went something like this ...