Business Growth and Change – Lessons Learned from Both
A couple of interesting articles at the IandS.Design website recently caught our eye(s). From managing client expectations in our recently changed world to lessons we might learn from the past (where else could they be from?), we began pondering just how much these changes might affect business growth.
Not to get too philosophical here but, the Universe has managed to once again remind us that change is the only constant in our lives. How we respond to it, and the lessons we learn from it, will largely dictate our success in both life and business. And, not to get too pedantic about it but, acceptance is the key to adapting to the changes recently wrought upon our world.
Business Lessons Learned – Design Client Needs
Many designers like to declare themselves a “boutique house”, with all that implies. Too often, such houses are more than happy to sign just about any client who comes along, contradicting their claims of a customized, intimate feeling that makes their clients seem special. Rather, growing the business is their true priority, often beyond their ability to control.
This type of business philosophy is counter to what the average homeowner wants their interior designer to offer.
For author Michael Thomas, business growth is no longer a priority: “The first lesson is to keep a small, manageable number of clients – where quality services can be consistently provided. In times past, it seems that growth was added for the sake of growth – taking advantage of abundant numbers of clients and seemingly lucrative projects. It was the ‘bigger is better’ mentality that overtook a number of us. Adding more projects often meant the need to add more staff, additional workspace and with those, the increasing costs associated with such overhead.”
Further, many of today’s homeowners feel the need for increased emphasis on mental well-being. As explained by Pierluca Roccheggiani, U.S. design director and vice president of luis vidal + architects in another context, folks are "increasingly looking for specific areas dedicated to relaxation and calmness, like yoga rooms and meditation areas. Bringing natural light and open buildings to exterior views plays an important role … Another design aspect that has been increasingly sought-after post-pandemic is access to outdoor space. It’s becoming a vital component for comfort and well-being.”
Naturally, the first concept, that of keeping one’s client list smaller and more manageable, makes the second concept much easier to follow, that is, knowing your clients well enough to offer them the well-being they’re seeking.
Business Lessons Learned – Designer Needs
Perhaps one of the most difficult lessons for interior designers and even furnishing dealers to learn is again expressed by Mr. Thomas: “The next lesson is to become much more ‘choosy’ about which clients to take on.”
After all, when someone is offering hard cash for your products or services, it seems exceptionally counterproductive to refuse their business. Yet, one must keep in mind that not all clients are created equal and that too many of them are more trouble than they’re worth. Running a business (and a life) is difficult enough without the hassle of a bad client.
“Next, build strong alliances with others who have the same or similar profiles of clients. Collaborate with professionals whose expertise is complementary (not competing) with your own. Develop ways to share common workspaces, as well as marketing and operational expenses such as administrative staff.”
In other words, shared values, a similar business philosophy, and acceptance of the fact that finding business allies with whom we can engage will make all of us stronger and more adaptable to change.
Finally, feel free to display your expertise in a niche that matches your talents and training. Clearly, doing this will increase your comfort level and should help you to find the business growth you need to succeed without overtaxing your ability to keep your business running smoothly.
If any of these ideas resonate with you but you’re having trouble implementing them, Ted’s 25-plus years in the trade makes him an excellent business consultant for both interior designers and luxury furnishing dealers. Simply… Contact TD Fall today.