american society of interior designers
five successful strategies
for economic survival
the form of newsletters, blogs, press releases and updates to
your Web site just to keep in touch. The key to a successful
marketing campaign in good and bad times is consistency.
An additional strategy to successful marketing during
down times: reach out to your existing clients. Designers
often forget that the best resource for new work is with the
businesses and individuals that we have worked with in the
The last several months have indeed challenged our inte- past. Current and past clients are easier to reach and cost
rior design community. Designers and architects once at the less to market to since a trusting relationship already exists.
epicenter of an explosion of new construction, renovation They will also be the first ones to contemplate new projects
and remodeling have experienced an economic implosion when the economy turns around and are in the best position
as business grinds to a halt. Despite these challenging times, to provide you with referrals — but only if you ask them to
there are proven strategies we can apply now in order to play that team position.
survive this current downturn and succeed when business • Next during these quiet times, learn new skills and im-
begins to move forward once again. prove your education. Take a class or a workshop that will
• The first and most important strategy is to adjust fixed enhance your knowledge and make you more competitive
and variable overhead expenses proportionate to the rev- in your field. You won’t find this free time once the econo-
enue coming through the doors. Avoid making cuts equally my turns around, so now is the best time for self-improve-
across the board since it may be important to actually in- ment. Consider topics such as digital photography, business
crease certain expenses such as your marketing efforts in management, green design or aging-in-place design for
order to secure new work. Negotiate reductions in long- baby boomers.
term commitments such as lease payments on office space, • The fifth success strategy is to get involved with net-
equipment rentals and one of the most important, yet costly working, professional and business societies. There is abso-
business expenses, your employees and their benefits. Re- lutely no better avenue to learn about what’s happening in
member if you don’t ask, you won’t get what you need in the design profession than to become active in associations
these difficult times. like the American Society of Interior Designers, and there is
• The second strategy is to increase cash flow — the life - no better way to learn about the local business environment,
blood of any business. Keep the dollars flowing in and out new resources and potential project developments than
by asking for larger initial client deposits and billing clients when networking with your peers and business associates.
promptly. During critical times like these, it may also be It takes time, commitment and effort, but doing so increases
important to sacrifice profits in order to increase cash flow. your competitive edge.
Try offering special pricing to your very best clients, those Several reliable economic indicators point to a recovery
that your firm has a trusting relationship with and who have well after the first of the year. While this is great news, it
a history of paying promptly. will be a very slow and steady climb, so be strategic in your
• The next survival strategy is to increase your marketing actions. Do what is required in your business now in order
efforts, casting a wider net by offering additional services to be in business and in a strong position when the economy
and products. Now may be the time to take on projects that begins to move forward once again.
in the past you might have passed on, but should you make
this decision, it doesn’t mean that it will be necessary to
take on every project, such as work that you are not skilled
to perform or have no passion for. That is a path sure to end
in failure. Instead, look for new clients that have identical
rade
or similar profiles to your best clients and projects and do
what you can to capture their attention. Keep your business
Design T
face in front of them in as many ways you can. Offer rel-
Michael A. Thomas
evant educational information and client-focused content in
ASID President-Elect
42
ASID.indd 1 10/28/09 12:59 PM
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