EP 006 | Better Ways to Calculate Flat Fees with Kimberley Seldon

April 25, 2017

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Are you pricing your projects based on guesswork?

Many interior designers rely on popular flat-fee calculation methods because that’s how they’ve always done it. The problem? Some of the most commonly used pricing strategies can leave you underpaid, overworked, and frustrated.

In this episode, Kimberley Seldon breaks down three popular flat-fee calculation methods and explains why they often fail designers. More importantly, she challenges listeners to abandon outdated pricing practices and adopt systems that support profitability, confidence, and long-term success.

For interior designers who want to charge appropriately and build a more sustainable business, this episode offers a fresh perspective on project pricing.

In this episode, we learn:
• Why estimating fees based on intuition or guesswork is a risky strategy
• How inaccurate pricing can negatively impact profitability and client relationships
• Ways to improve your success rate when proposing and securing new projects
• Why room-by-room pricing methods often fall short
• The limitations of calculating fees as a percentage of the overall project budget
• How better pricing systems create stronger businesses and better outcomes for clients

 

Take Aways

There’s no earthly way for you to know what a project will cost from start to finish on the first day you meet your customer. If you choose to do so, you can stop playing the guessing game, develop a system that allows you to get paid for all your expertise, manage jobs like the true professional you are, and satisfy more customers.

“Providing clients with an accurate estimate for fees at the consultation increases your chances of getting the job by as much as 50%!” Kimberley Seldon

 

Recommended Reading:

Business of Design™ Volume 3: Win the Flat Fee Game

*NOTE: It is strongly recommended that you start with Volume 1 & 2. Otherwise, you will not have knowledge of the 15 Step Project Management Strategy that will form the basis of your business.

BOD & You

As interior design professionals, we LOVE our work because it matters so much. We want our clients to get our best every time, because it’s going to affect the way they live for years to come. But doing our best work isn’t possible if we can’t dedicate ourselves to it. And we can’t dedicate ourselves to it if doesn’t earn us a living.

Business of Design™ is the best professional advice and business coaching available, and it’s just for you. Our mission is to liberate your talent and skill by showing you how to run a business that supports you, empowers you, and lets you love your work again.

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Legal Disclosure | This podcast is for educational purposes only and provides general business advice for interior designers and design professionals. It is not intended as individual legal, accounting, or professional guidance. Kimberley Seldon and Business of Design® make no guarantees regarding accuracy and are not liable for how information is used. Strategies shared may not apply to every situation—listeners should seek qualified legal, financial, or professional advice before making business decisions. References and resources mentioned may change over time.

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