A design firm can be busy and generating significant revenue, yet still leave substantial profit on the table. The problem often lies in mismanaged or missed opportunities, such as poor pricing, inadequate product margins, and inefficient staffing.
These issues can quietly erode profitability, and Julia Nikishina, founder of New Age Financial Consulting, aims to address them in an upcoming Launch class. The class will break down the most common profit leaks inside interior design firms and explain how to identify and correct them.
Attendees will learn how to use financials, project data, and operating practices to make smarter decisions about pricing, staffing, procurement, and growth. They will also discover how to identify areas where design firms typically lose profit and which financial and project metrics to monitor.
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The class will cover topics such as the impact of pricing, procurement margins, and project management on the bottom line, as well as how staffing and overhead decisions can affect profitability. By the end of the class, attendees will have a framework for identifying profit leaks and actionable opportunities to improve margins.
The workshop will be conducted through a Zoom webinar, requiring only reliable internet access and computer speakers. BOH Insiders can attend the class for free, as part of their unlimited access to LAUNCH classes.
Julia Nikishina has worked with design firms across the country since founding New Age Financial Consulting in 2008, helping them improve profitability and develop proactive tax and growth strategies. She is also the founder of Empower the Designer, an educational platform for established interior design firm owners. Julia Nikishina brings her expertise to the Launch class, providing attendees with valuable insights and practical advice.