Designing a Business: How Can I Add Income Streams?
Design business coach Chelsea Coryell offers up several easy ways pros can increase their cash flow
Interior designer and design business coach Chelsea Coryell of Washington state-based consulting and training firm Design for a Living has been helping fellow designers grow their businesses for more than a decade.
Q. How can I add more income streams?
A. If you feel like your income isn’t exactly blooming, you might need to do a little work on increasing your income streams. Think of your income streams as your fertilizer, adding little bits of nutrients that in the end will make your business thrive.
Q. How can I add more income streams?
A. If you feel like your income isn’t exactly blooming, you might need to do a little work on increasing your income streams. Think of your income streams as your fertilizer, adding little bits of nutrients that in the end will make your business thrive.
Add Accessory Services
Not every client needs the entire house remodeled; sometimes they only need help accessorizing or staging a room. Accessory house calls are a simple and fun service you can offer to fill in the gaps between big design projects.
After you’ve had your initial house call and taken lots of pictures and measurements, collect half of your design fee and then go shopping! Start with a general plan for your focal points and display areas in the room and start filling your cart with art, lamps, candles and accessories. (Make sure anything you purchase can be returned if you don’t use it.)
Take a day to spruce up the client’s room, paying special attention to the details. I’ve changed out personal photos in frames and rehung artwork that was too high, and I always leave a fresh bouquet of flowers to add that special sparkle.
Not every client needs the entire house remodeled; sometimes they only need help accessorizing or staging a room. Accessory house calls are a simple and fun service you can offer to fill in the gaps between big design projects.
After you’ve had your initial house call and taken lots of pictures and measurements, collect half of your design fee and then go shopping! Start with a general plan for your focal points and display areas in the room and start filling your cart with art, lamps, candles and accessories. (Make sure anything you purchase can be returned if you don’t use it.)
Take a day to spruce up the client’s room, paying special attention to the details. I’ve changed out personal photos in frames and rehung artwork that was too high, and I always leave a fresh bouquet of flowers to add that special sparkle.
When you’re ready for your reveal, let them soak in the beauty and have a bill ready to present for everything they’re keeping as well as your final design payment.
Shop accessories on Houzz
Shop accessories on Houzz
Team Up With Other Pros
Joining forces with a bigger brand can not only add money to your bank account, it can increase your exposure and marketing power. If you buy into a program such as a custom blind or window treatment company, you can not only sell their products and use their marketing tools, but you can display their logo alongside yours on your website and business card, thereby increasing your legitimacy.
Build Relationships That Benefit Your Business
Joining forces with a bigger brand can not only add money to your bank account, it can increase your exposure and marketing power. If you buy into a program such as a custom blind or window treatment company, you can not only sell their products and use their marketing tools, but you can display their logo alongside yours on your website and business card, thereby increasing your legitimacy.
Build Relationships That Benefit Your Business
Offer Special Occasion Design Services
Holiday and special occasion design is another great way to quickly add an influx of money. Have you ever thought about advertising an event design package directly to your past clients? This is a great follow-up service you can offer to earn some extra cash around the holidays.
A Holiday Lighting Pro Talks Nets, Ladders and Seasonal Spirit
Holiday and special occasion design is another great way to quickly add an influx of money. Have you ever thought about advertising an event design package directly to your past clients? This is a great follow-up service you can offer to earn some extra cash around the holidays.
A Holiday Lighting Pro Talks Nets, Ladders and Seasonal Spirit
Combine Streams
If you’re billing only for your design hours, you might need to reevaluate your business model. There just aren’t enough hours in the day to make a decent income working this way, and charging more for your time will make it tough to compete in your market. That’s why I always encourage my designers to combine more than one income stream, such as various design commissions and product markups.
If you’re billing only for your design hours, you might need to reevaluate your business model. There just aren’t enough hours in the day to make a decent income working this way, and charging more for your time will make it tough to compete in your market. That’s why I always encourage my designers to combine more than one income stream, such as various design commissions and product markups.
Take It Slow
Don’t spread yourself too thin. The last thing you want to do is spend so much energy on creating these strategies that you lose sight of your foundational income. Remember, you need that to keep your business running. I suggest you incorporate one extra income stream at a time. See what your market responds to and which ideas you have the most fun with.
Just as with traditional gardening, you prepare a healthy foundation, you plan and experiment with a few different seeds, you put in a bit of tending and, in the end, you enjoy a plentiful harvest.
This content contains only general information and guidance and is not a substitute for legal or tax advice. For advice specific to your area or business, consult with a qualified professional.
Have a question for Chelsea? Email it to editor@houzz.com, Attention: Chelsea Coryell or post your question in the Comments. It could be featured in a future column.
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To Charge or Not to Charge for Consultations
How Do I Set My Pricing Structure?
Don’t spread yourself too thin. The last thing you want to do is spend so much energy on creating these strategies that you lose sight of your foundational income. Remember, you need that to keep your business running. I suggest you incorporate one extra income stream at a time. See what your market responds to and which ideas you have the most fun with.
Just as with traditional gardening, you prepare a healthy foundation, you plan and experiment with a few different seeds, you put in a bit of tending and, in the end, you enjoy a plentiful harvest.
This content contains only general information and guidance and is not a substitute for legal or tax advice. For advice specific to your area or business, consult with a qualified professional.
Have a question for Chelsea? Email it to editor@houzz.com, Attention: Chelsea Coryell or post your question in the Comments. It could be featured in a future column.
More on Houzz
When and How Do I Outsource My Work?
To Charge or Not to Charge for Consultations
How Do I Set My Pricing Structure?
Adding more to your business doesn’t have to mean more time or investment on your part. Simply offering a wider selection of specialty design packages can greatly increase your income and help you cast your marketing net to a wider audience.