EP 006 | 3 Popular, But Lousy, Methods For Calculating Flat Fees with Kimberley Seldon


About this Episode

Terrible, awful, bad and inferior. These are the adjectives that best describe the three most popular methods for calculating flat fee proposals. Yes, most popular! In this one-on-one episode with Kimberley, you’ll hear first-hand, why the most popular methods don’t work. We want to clear the path for you to make lasting change in your business (and your life) and you won’t be able to do that until you abandon methods that are no longer serving you.
In this episode we learn:
– why guesstimating is a losing proposition; and, clients always “hold you to it”
– how to increase your success rate in procuring new projects by 50%
– how room-by-room methods for calculating come up short
– why percentage of overall budget is not the best choice

Legal Disclosure This podcast is for educational purposes only and should not be used for any legal decisions. Kimberley Seldon Design Group, Kimberley Seldon Productions Inc., Kimberley Seldon Design and Media, Inc., Business of Design™, or any of its affiliated companies or staff is not responsible for any errors or omissions effecting accuracy in any content, and they will not be held liable for the use or misuse of information, facts, details or any other aspects should there arise any defects, errors, omissions or perhaps inaccuracies. Extensive research has been conducted to put this podcast together for the purpose of educating our industry in order to better serve the public. Care has been taken to acknowledge ownership of copyrighted material. The advice and strategies contained herein may not be suitable for every situation. This work is offered with the understanding that we do not render any legal, accounting or other professional advice. Seek the advice of a lawyer and/or other competent professional person in all matters of law. Further, listeners should be aware that internet websites mentioned may change or disappear between when this was recorded and when it was listened to.

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.


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.

Recommended Learnings:

COURSE: Flat Fee Contract for the Interior Design Professional

COURSE: Building Your Hourly Fee Contract for the Interior Design Professional

COURSE: Business of Design™ 15 Step Project Management Strategy™

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