How to Make Money As An Interior Designer

How to Make Money As An Interior Designer

At the end of my course, The Golden Blueprint, I do review calls with participants.  In the last session of the course I had several review calls every day and I found myself giving the same advice most every call.  So what was the question that everyone was asking about?  Pricing.  Or more specifically, how to make money as an interior designer.

We would talk about how they priced their services and how they charged their clients and ultimately there was one glaring mistake everyone was making in their design business that was costing them valuable income.

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Biggest Pricing Mistakes Designers Make

Biggest Pricing Mistakes Designers Make

Psst.  Designer.  Do you want to hear the biggest trade secret of all time?  You can't share it with anyone.  If I tell you, you are sworn to secrecy.  Other designers will ask.  Don't tell them.  This is just for you.  I'm going to give you the Super Secret Magic Pricing Model.  MPM for short. 

I'm sure you know the Magic Pricing Model I'm talking about.  The one where clients readily accept your fees and buy all the product you select without question.  It is the one where your bills and invoices are always paid on time.  The one where you make a ton of money easily.  It is the one that is so easy you never have to have an uncomfortable conversation about money with clients.  The MPM is the one that you make the most amount of money with the least amount of effort.  I know you want it.  Everyone wants it.

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Markup is Dead

Markup is Dead

Let's go back to a time pre-internet.  Cue the fog and crackly old-time radio.  Generally, the wealthy were the only ones who could afford to hire a decorator.  HGTV didn't exist.  Correspondence was done via letter or the phone.  Orders were placed with checks.  Cell phones didn't exist or were giant bricks kept in the car "for emergencies".  Shopping was all done in-store or from a mail-order catalog, you had to literally mail-in or call in your order.  Things that couldn't be sourced would be designed and custom made in a workroom.  Clients had no access to trade-only sources.  

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A Detailed Look at Pricing Interior Design Services

A Detailed Look at Pricing Interior Design Services

How do Interior Designers price their services?  How should you price your services?

Unlike architects or realtors, there is no regulating body for interior designers.  Therefore, there are about as many different pricing structures as there are interior designers.  There is not a one size fits all for designers or clients, the bottom line is do you feel comfortable and confident in your pricing model?

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Why Discounts Are Hurting Business

Why Discounts Are Hurting Business

When you discount your services, you are undercutting the value of the entire industry.  Ever bought a Groupon for a discounted exercise class, but then never went again for full price?  If you pay less for something it is really hard to fork over more money later.  When you lower the price of something, it sets a precedent and people don't want to pay more for it.  The perceived value goes down.  This may not matter when you are first starting or if you are in a slump and need whatever clients you can get, but it will matter when you are wanting to get paid more for your services or want to work on higher budgets.  It also matters to all the other designers out there working their butts off and growing their businesses.  

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