Interior design is not for the faint of heart. It is a competitive industry marked by a number of complications that affect firms of all sizes. Whether you are running your own business or are part of a larger firm, you will likely recognize these five common issues, as they affect everyone in the interior design business.
5. Unpaid Invoices
It happens to even the best; it is inevitable that at some point, your firm will have an unpaid invoice—or several if you happen to be unlucky. Whether it is a small payment or a large sum owed by an important client, you will be faced with the difficult choice of writing off the amount or chasing the payment. Neither option is particularly appealing. Even if you do chase the payment, it is likely the invoice will remain unpaid and you will have to take the loss. In a competitive business like interior design, lost revenue will break a firm quickly.
4. Nightmare Clients
Everyone in interior design will encounter a client that would have been better avoided. These clients tend not to know what they want (but have very clear ideas of what they do not want), and are often very hands-on during the process. They will demand revisions to plans and will often request discounts if something is not to their liking. Worst of all, they may simply skip out on the bill. Many firms will encounter these clients too often. The best way to deal with them is to finish the project as quickly as possible, handling everything in a professional manner. Then cut your losses and move on; other clients are likely to be more deserving of your time and attention.
3. The Wrong Partner
Many in the interior design business are likely to enter into partnership with other contractors, vendors, and firms over the course of a project. For some projects, you may need to engage with an architect. For other projects, you will need to hire carpenters or other contractors. Unfortunately, not every business will hold the same standards that you do, and some may do subpar work. While you seek to avoid working with these people, it is almost inevitable that you will hire one or two over the course of your time in the interior design business.
2. Messy Accounting
Whether it is not using purchase orders or simply not recording your hours worked on a project on a day-to-day basis, messy accounting procedures are very common in the interior design business. That can cause problems later on, say, at month-end or tax time. This situation is easily avoided, however, by diligent record keeping, helped along by accounting software for an interior design business with all its quirks. While accounting may not be an interior designer’s favourite part of the job, it is a vital function of every firm.
1. Finding Work-Life Balance
One of the largest complications that will face anyone in the interior design business is finding a good work-life balance. Those who are self-employed or employed at smaller firms may find themselves working long hours, late into the evening or over the weekend to catch up on projects or tasks that were neglected during regular office hours. Interior designers may also find that they need to work odd hours in order to meet with clients. All of that can lead to a work-life imbalance, which creates stress and dissatisfaction. Better time management and organizational skills, along with tools designed to speed up certain processes and automate some tasks, will help interior designers find more balance in their work and their everyday life.
