I know, I know...you are operating a design firm to make the world a more beautiful/structurally sound/energy efficient/livable place. But remember your business is not unlike the dry cleaners or any other for-profit business - your cash inflow must exceed your cash outflow in order to be viable in the long-term.
You should be aware of what it is going to cost to run your business, pay employees, yourself and other owners, and what revenues will be required to cover those tabs. Click here for a simple budget form. Finances count!
The ancient Roman historian and politician Sallust said “Every man is the architect of his own fortune.” Many readers of this article have the architect part down; it is the fortune that is difficult to grasp.
Timekeeping is a critical part of good business practice for the healthy professional services firm.