Not every architect should start their own practice. It comes down to how you want to spend your time. If you want to spend most of your time being an architect, don’t start a practice. Starting a practice requires you to spend time on business processes, marketing, sales, and most of all, thinking about money. From setting fees to planning for the future, there are many financial decisions you’ll have to make right from the start. In this Best Practice episode, Marilyn Moedinger, founder of Runcible Studios, shares her expertise on the money side of starting your own practice.Interview TakeawaysDetermine whether you should start a practiceDon’t lead with a sales pitchCrowdsource informationAccount for non-billable hoursChange to project feesShow them what they’re gettingPull the levers of efficiency and price raisesExperiment in the first 5 yearsKeep a cash reserveTalk money right awayShow LinksConnect with Marilyn Moedinger on LinkedIn or TwitterCheck out Runcible StudiosConnect with George Valdes on LinkedIn or TwitterConnect with Chris Morgan on LinkedIn Check out MonographFollow Monograph on LinkedIn or InstagramListen and read more about Monograph

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related