333. How to Build a Six-Month Runway for Your Design Business
About this episode
Rebecca Hay discusses how to build a six-month financial runway for your interior design business to make informed decisions.
Are you making business decisions based on facts, or are you guessing and hoping things will work out? In this episode, I'm talking about how to build a six-month runway for your interior design business. This is one of the simplest ways to understand what it really costs to keep your business running and whether you have the financial stability to make decisions with confidence. I walk through the four cost buckets every designer should know: fixed costs, variable costs, invisible costs, and future costs. I also share how to calculate your monthly run rate, why paying yourself needs to be included, and how to compare your six-month runway number to what you actually have in the bank and in secured revenue. I share how to look at your business finances in a practical, non-intimidating way so you can plan ahead, prepare for slower seasons, and make better decisions about hiring, spending, scaling, and saying yes or no to projects. Episode Resources: Know your Numbers | Part 1 Understanding your Project Profitability with Merilee Wright Know your Numbers | Part 2 What it costs to run your business with Merilee Wright This episode is sponsored by Programa . Programa is project…
People in this episode
Host: Rebecca Hay
Topics covered
- business decisions
- financial stability
- cost analysis
- interior design
- planning
- project management
Sponsors
Programa
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