Strategic Pricing for Profitable Design Practices
Interior designers lose more every year through poor pricing decisions that through any other means. This course will prevent that loss!
Your Course Objectives:
The perils of pricing often vex interior designers. Whether billing for hours or merchandise, it seems that customers today are more and more confused due to avenues for online shopping, the do-it-yourself mentality, and ever-greater cost transparency. Because of this, many designers have lost their pricing discipline, comping too many hours and reducing markups on too many items. Oftentimes they just pull number "out of the air" with no appreciation for the impact that will have on the bottom line. In this course you will learn multiple ways to increase prices and dramatically increase your bottom line.
What this Course Contains:
- Six Sections released to you at the rate of one per week along with an email to help you stay organized
- Video tutorials for each Section
- Seven supplemental videos
- Homework assignments
- Excel spreadsheet to help you create your own winning pricing strategies
In this course, you will learn:
- Why a concept called "contribution margin" is more important than all your accounting statements. (And you're accountant may never have heard of it!)
- How to accurately measure and project the results of improved pricing strategies;
- How today's pricing decisions will largely drive the success of your financial future;
- How to price merchandise to avoid do-it-yourself and online pricing pressure;
- How to use a spreadsheet model (provided) to create scenarios from which to choose your best business model;
- How to stop the decline in "client quality" that many have reported;
- How to put "total economic" value to work for you;
- How to apply the principles of "profit pools" to your pricing table;
- How to put the "psychology of persuasion" to work to boost your bottom line almost overnight;
- How to "swipe and deploy" pricing models that are working for successful designers today
- And much, much, more...
You may also submit your assignments or ask other questions of your instructor, David Shepherd, throughout the course!
For almost thirty years, David Shepherd has taught small business strategy at two of the nation's top business schools. And for almost twenty years, he has brought this knowledge exclusively to interior design professionals.
As founder of the Business of Design Conference, David hosted over 3,000 interior designers at 40 events held throughout North America. David has also facilitated the sharing of "best practices" among hundreds of interior design principals, including sole practitioners and principals of 30-person firms. David's current coaching network is a membership organization called The Edge.