EA210: Lessons Learned from Investing in 15 Architecture Firms with Todd Reding of Charrette Venture Group [Podcast]

Lessons Learned from Investing in 15 Architecture Firms Today is the FINAL day to enroll for the EntreArchitect Mastermind for resources, training, and a powerful peer group that will help you accomplish your most ambitious goals. Learn more at EntreArchitect.com/mastermind. One of the most surprising things about small architecture firms is how similar we all are. We’re all struggling with the same issues and trying to contribute to the world the best that we can. Charrette Venture Group invests in small firms, partnering with us to address the issues we face and helping us to plan for success. This week at EntreArchitect Podcast, Lessons Learned from Investing in 15 Architecture Firms with Todd Reding of Charrette Venture Group. Background Todd Reding is the President and CEO of Charrette Venture Group. Todd has been a guest of the podcast on EA103: 3 Roadblocks Experienced by Every Entrepreneur Architect and What To Do About It [Podcast] and EA151: How to Grow Your Architecture Firm [Podcast]. Charrette Venture Group (CVG) is a firm that provides a wholistic approach to building a business; they provide services from management, leadership, finance, marketing, business development, and more to architecture firms who are seeking to build a strong business in the design space. CVG’s mission is to be the best company in the world to help small architecture firms become stronger and more profitable businesses. Their eleven-member team is all based virtually, ranging from Mexico City to London. They work with small firms on every aspect of their businesses except the actual design work. Todd’s background is in the entrepreneurial world. With an MBA from Northwestern University, he’s has been involved in starting and running businesses throughout his whole career. What’s the biggest experience you’ve gained working with small firms? The most surprising thing as Todd has learned more about this space is the depth of the relationships with each firm. The CVG team cares deeply about each investment partner, and truly gets invested across a long period of time. All 15 firms have a very close, trusting relationship. Interactions at times are very honest and direct, sometimes telling firms what they don’t want to hear. The firms CVG partners with are totally trusting and focused on growing their firms and earning a profit so they can do the design work that they’re passionate about. Is this investment an equity deal? CVG is paid a percentage of the architecture firm’s revenue instead of an equity stake. They look at the board and figure out how they can increase the revenue of the firms that they’re partnering with. What tips do you have for those trudging through finding good client fits for their firms? Check out High Performance Habits: How Extraordinary People Become That Way by

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