A strategy that turned a loss into a profit
I had the best week in Perth. One of my meetings was with a designer I have been mentoring for the past 12 months. Over a coffee, Frankie explained how this year’s financial figures proved she has successfully transformed a loss-making part of her business into a strong revenue stream.
She was stoked, as was I.
It’s not been easy, but it’s a brilliant result.
A quick tip
A comment from our recent survey suggested we include a 'quick tip' each email. Something small that could be used immediately. Here's tip #1
As a benchmark, an Australian studio should aim to make between a 30-40% profit on every hour billed to a client.
Source: The business of design, pages 65-76.
Access to a knowledge bank…
The Design Business Council was founded in 2005 to help creatives manage their business better. Since then, Greg has met with literally hundreds of Australian graphic designers to talk all matters business. He's a walking knowledge bank of information needed to start, manage and grow a creative business.