@initiatearchitecture: Producing fee proposals and talking about money can be one of the most daunting and isolating aspects of running a solo-design business (especially as we designers aren’t always comfortable with talking money). This was certainly the case for me. However, if you’re leaving corporate practice to run your own studio, it’s critical you know your ‘Breakeven Rate’ to ensure your fees are sustainable and resilient. Here’s how I do it, and whilst issuing proposals and negotiating fees still brings me some baked-in apprehension, knowing my baseline brings me huge confidence. TIP 1: at the start it’s difficult to predict how many hours it will take you to complete your service. This is natural as your developing your own processes, but try to record the time spent and refine your offer over as you develop. TIP 2: start with super-lean overheads that will reduce your Breakeven Rate and allow you to be as profitable and flexible as possible. There’s no rush, and you can expand once you’ve found your feet. #architecture #archipreneur #architecturestudio #creativestudio #designer #designbusiness #startup #SmallBusiness #feeproposal
