| Too
many design professionals earn too little.
That's Business by Design's
perspective this month on a new income report.
THIS MONTH:
+ Sorry Stats
+ Quitting Time
+ Money Maneuvers
Sorry Stats
The average income for U.S. interior designers
with at least eight years experience is only $66,300.
For those with 4-6 years experience, it's $46,376.
For those less experienced: $34,795.
My source for those numbers: a report released
by Salary.com.
My word for those numbers: "disappointing."
Disappointing because design professionals work
way too hard to earn that little.
Disappointing because they know so much about
so much -- from classic to contemporary -- and
don't get adequately compensated for it.
Disappointing because they're three times as
skilled as professionals in other fields who earn
six times more money.
Quitting Time
The income numbers should give you a clear message:
it's time to quit.
Quit giving away your time and expertise. And
negotiating your fees. And working with clients
who can't afford you.
Quit wasting your time on non-income producing
activities. And taking on projects that are more
trouble than their worth.
Quit thinking small.
Money Maneuvers
Your personal financial situation shouldn't get
you down.
It should get you going.
It should motivate you to take steps to earn
the income you want and deserve.
Here are some of the steps I shared this week
in my teleseminar on how to "Double Your
Dollars as a Design Professional:"
Double Your Fees. You improve
clients' work space and living space and lives.
Now, charge accordingly.
Justify Why. Memorize 12 reasons
why you're worth your higher rate. It's Price
Objection Protection.
Walk the Talk. Conduct yourself
-- and your business -- as if you already earn
twice your price.
Differentiate yourself. Talk
up your experience, awards, design specialties
and, above all, your "only."
Look the Part. Make your bio
sheet, design service list and other marketing
materials look like a million.
Sell Yourself. Write, speak,
network -- do whatever it takes to get known by
high end prospects.
Spread the Word. Send a rate
hike letter to clients new and old.
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