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EntreArchitect provides information and resources for the business of architecture and inspires your success as a small firm entrepreneur architect.

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Dec 18 2018

Six Ways To Earn More Profit As A Small Firm Architect

The Passion Profit Cycle of Success Prior to starting our own firms, we business-owner architects experienced an “entrepreneurial seizure”, as Michael Gerber so accurately described in his book, The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It. It’s the precise moment when a passionate employee commits to starting her own firm. Frustrated by the process (or lack of process) established by her employer, she decides that she can do better. Do you remember that … [Read more...]

Written by Mark R. LePage · Categorized: Business · Tagged: Financial Management for Architects, Passion, Profit, profit for architects

May 08 2018

Three Financial Basics
Every
Entrepreneur Architect
MUST Understand

Financial Management Terminology for Architects For many design professionals the subject of Financial Management is complex and can become problematic if the terminology used in the discussion or writing of this subject are not precise. For clarity, the term, Financial Management, refers to the accrual-basis accounting process of a professional design firm. Accrual-basis accounting is primarily used to determine true profitability and the metrics, or key financial performance indicators … [Read more...]

Written by Mark R. LePage · Categorized: Business · Tagged: accounting, bookkeeping, business basics, financial management, Financial Management for Architects, financial terms

Apr 18 2017

How To Fix Your Profitability Problem as a Small Firm Architect

Why Architects Miss Their Profitability Targets For all professional design firms there are two different, yet interrelated levels of profitability – a firm’s overall profitability and the profitability of each completed project. Historically, the profitability of professional design firms is, on average, in the range of 8-12%. While many firms achieve profitability exceeding 12%, the majority struggle to achieve their targeted profitability on every project, every year. In spite of the … [Read more...]

Written by Mark R. LePage · Categorized: Business · Tagged: chart of accounts, Financial Management for Architects, Profit, timesheets

Mar 02 2014

Five Fundamentals I Wish I Knew Before Launching My Architecture Firm

When Annmarie and I launched Fivecat Studio, we were "young and dumb". We were optimistic and enthusiastic, but we didn’t know what we didn’t know. We were 29 years old, had a dream of starting our own firm and jumped. I always knew I would own my own firm. I’m a born entrepreneur. What I did not know though, was how hard business would be. Blessed with friends who needed architectural services for their new restaurant, we signed a contract and thought we were on our way. We thought that was … [Read more...]

Written by Mark R. LePage · Categorized: Business · Tagged: Business Plan, Customer Service, Financial Management for Architects, Life Plan, Marketing, Personal Productivity, sales

Aug 18 2013

Financial Statements for Architects

Without any education in business basics, architects rarely understand the fundamentals of business success. Some months we have money left over and other months we struggle to pay each bill. For years, I ran my business with no real understanding of how to end each month with a profit. Seven years into owning our own small firm, Annmarie and I decided to make some changes. It was during that year when I committed to a business program offered by Westchester Community College titled the … [Read more...]

Written by Mark R. LePage · Categorized: Business · Tagged: Balance Sheet, Financial Management for Architects, Financial Planning, Financial Statements, Income Statement

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