Regardless of industry, success in any business means obtaining high-profit margins. And to achieve that, businesses must set a goal, analyze all their data, determine what they lack, and try their darndest to overcome any deficiencies. It’s clearly not always a walk in the park.
However, due to improving economic conditions from the past year — and businesses being able to keep their doors open for the long haul — the interior design industry, for example, is estimated to grow by 5.6% in 2021. And with employment rates on the rise, this industry’s growth potential is clearly on the rise.
For their businesses to boom, along with continuing to hone their creative design skills, interior designers must possess superior business prowess. These business skills include project management, communication, leadership, and persistence, among many others.
Here are four crucial success tips for commercial interior designers for 2021 and beyond.
Business Goals and Strategies
Creating a business plan helps you to gain a clear and systematic vision of your business’s future. This involves setting any short- and long-term goals and determining a list of steps to achieve them. To build yours, ask yourself these questions:
- What are your monthly goals?
- Where do you wish to see your business in five years?
- What must you do to get there?
Along with developing a business plan, you’d also need to devise a strategic plan, which helps define the key strategies to successfully execute the business plan. Some basic business strategies include:
- Cost strategy
- Unique service strategy
- Niche strategy
Confidence, Pricing, and Finances
For any creative to succeed, they must believe in their art. However, in business, you need to know how to sell and impress clients. To that end, you must conduct yourself professionally and trust in your skills. Confident business owners tend to end up with clients who value and respect their work.
Plus, when it comes to pricing, it will be easier to charge an appropriate amount if you make a list of all the needed materials and services, add up their expenses, and then make your final offer.
Cash is king, so another piece of advice would be to keep a record of all your finances. This helps to track and organize your cash flow. It’s also recommended to hire an attorney and accountant who can guide you with legal, license, and tax affairs.
Branding and Marketing
Your brand is your identity, so make sure it’s unique, memorable, and professional across all online platforms. Clients should be drawn to your high-quality images, logo, website, design, and social media pages, as your online presence plays a crucial role in attracting clients.
To that end, marketing is integral to promoting your brand across various platforms. Proper use of social media can make your brand familiar to your target audiences, and online marketing can help clients be informed about your services and reach you easily. Diligent networking is also a game-changer when locking down prospects.
Business Partner and Client Relations
As your business expands, you may not necessarily be able to run it all day-to-day by yourself. In fact, you may want to hire a bookkeeper to handle all the paperwork, use project management software to build your design blueprint, and hire freelancers to assist with marketing, finance, purchasing materials, and expeditions.
As an interior designer, you have to cordially work with contractors, painters, carpenters, electricians, plumbers, and builders to install all the necessary amenities to help bring your visions to life. They can be considered your business partners that help complete your projects. That’s why it’s important to choose partners whose work ethic and energy match yours and that you work synergistically.
These days, interior design is a $72 billion industry and is only expected to grow in the coming years. Indeed, this is the perfect opportunity to start gaining clients. Marketing, properly communicating with clients, and providing high-quality services at appropriate rates, can all help ensure you achieve your goals as an interior designer.