Basements sound like a really good value -
residential, yes; commercial, no.
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.
Determine an appropriate architectural fee in minutes
instead of hours (days?).
Many buildings could benefit from a truck dock.
I think there are three ways to go with
business development for architects.
Architectural financial management has two components -
bookkeeping and accounting.
I didn't encourage humor in my firm. Always too serious.
I regret that.
Have you noticed how media is more prevalent now than ever before?
What You Need To Know
93% of architectural firms don't need accounting - bookkeeping is plenty.
Your ‘work on the boards’ is a great source of marketing.
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