Scoreboard Your Practice: 7 Numbers to Understand Your Design Firm's Financials
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Are you an architect, engineer, interior designer, landscape architect, planner, or other design professional? Do you currently lead or aspire to lead a small or midsized design firm? Do you want to know just enough about financials to effectively manage your practice-but not much more? Then you'll want to know the unique, and surprisingly simple approach to financials taken in Scoreboard Your Practice. The sole principal of a strong ten-person firm pays herself a salary of $140,000. Her team does outstanding work and they're well paid. She started the practice nine years ago and has no debt. ...
Are you an architect, engineer, interior designer, landscape architect, planner, or other design professional? Do you currently lead or aspire to lead a small or midsized design firm? Do you want to know just enough about financials to effectively manage your practice-but not much more? Then you'll want to know the unique, and surprisingly simple approach to financials taken in Scoreboard Your Practice. The sole principal of a strong ten-person firm pays herself a salary of $140,000. Her team does outstanding work and they're well paid. She started the practice nine years ago and has no debt. After retentions for the future, profit sharing for the team, and corporate taxes, she receives another $240,000 in pre-tax profits annually. To top it all off, the firm is worth about $2,000,000. Once you've read Scoreboard Your Practice, you'll understand the underlying financials of a firm like the one described above. You'll gain a clear understanding of your own firm's numbers. The book is intentionally brief-information is presented in an accessible, concise format accompanied by infographics. Scoreboard Your Practice will become an essential resource, offering you a shortcut to take control of your financials and guide your firm toward a thriving future. After you've absorbed the lessons in this book, you'll want to determine your firm's sweet spot in terms of size. If you've purchased Scoreboard Your Practice, go to www.strongpracticestrategies.com to receive a free eBook called Goldilocks Your Firm. It offers advice and a scenario planning tool to help you find the size that's just right for your practice.
