Welcome to Power Talk Friday! Today, we have one of our early guests back on the show. Diane Gardener, known as The Tax Coach (Episode #54) is back with us to talk about the specific niche of seven-figure interior design firms. Although LuAnn has done a lot of shows about getting a design business off the ground, she realized that she’s done way fewer shows about what to do when you are in the seven-figure bracket. And there are very specific challenges that come with this area. When moving into the seven-figure bracket, business owners frequently experience higher expenses, cash flow problems, and higher taxes. So be sure to listen in today even if you’re still a #babydesigner because LuAnn fully intends for you to become a seven-figure interior designer someday.

Diane Gardner is a Certified Tax Coach, a Quilly award recipient, and a best-selling author whose expert planning approach has saved her clients over three-million dollars in taxes. Her expertise lies in the area of tax planning. And her goal is to make sure that successful entrepreneurs across the United States are paying the least amount of income tax that they can legally pay. She aims to save taxes, one business at a time, through the use of pro-active tax planning. Diane has been featured on popular podcasts such as CEO Warrior, For the Love of Money, Listen Money Matters, Investing in The U.S, Cashflow Ninja, SharkPrenuer, Wealth Formula and Profit Boss. Tune in today, to learn about what you need in your seven-figure business to mitigate risk, increase your profits, and legally decrease your taxes.

Show Highlights:

• Diane is a certified Profit First coach.
• Planning ahead to pay less tax when moving into the seven-figure tax bracket.
• Increased income often means increased expenses.
• Becoming an active partner with your CPA or Business Coach.
• The tax planning strategies that seven-figure businesses need to implement to keep more money
• A great way to incentivize your people and lessen your tax load.
• It takes a different set of skills to run a bigger business.
• How to increase your cash flow to leverage growth from multi-six-figures to seven-figures.
• Diane explains how a tax coach can be your ultimate advocate and partner in growth.
• Doing an entity analysis for your business.
• An amazing strategy for saving money by investing in your own insurance company.

Other guests mentioned in this show:

Michele Williams #180, #395 

Peter Lang # 349, #464 

Diane Gardner was on the show before in episode #54

Links:

Diane’s website: Tax Coach 4 You

Diane’s offer: Planning guide for the new tax law vs old tax law.

Diane’s Facebook handles:       @taxcoach4you @AdeptBusinessServices  

Welcome to Power Talk Friday! Today, we have a business strategist, Kim Dawson, joining us. Kim enjoys working with business owners, helping them earn more and grow their businesses into successful enterprises. Her superpower is helping the owners of service-based businesses work out their ideal pricing formula. In other words, she guides them through a process of figuring out how much they should be charging, either per hour or for an entire project, to be profitable. Kim’s advice is to always start with the numbers so that you can plan and strategize to accomplish your goals, rather than wishing for them to happen. Be sure to listen in today, to find out what she has to share.

Kim is a lifelong entrepreneur. She has started many businesses of her own, including a local health and fitness studio, and she has also co-founded a software setup. Kim’s experience lies both in locally-focused, service-oriented businesses, and in online product-based businesses. Tune in now, to find out how to set and track your yearly financial goals, and make more profit from your business.

Show Highlights:

• Kim works with many different industries.
• Running a business is not for everybody.
• Owning a business does not mean that you know how to run one.
• Making a plan to earn your money.
• Getting your priorities in order.
• Looking at your numbers.
• Kim shares a formula for working out how much money you need to bring in each year.
• You need to know your market.
• Evaluating the whole situation before deciding to take something on helps you stay on target.
• Kim advises charging a flat fee, rather than an hourly fee.
• Working out your hourly rate.
• Finding the right market for the rate you’re charging.
• Using a strategic plan to get where you want to go.
• Tracking your time makes your billing easier.
• Kim used to have The Sassy Strategist Podcast.

The shows to go with this show:

Krista Coupar #60

Kim Merlitti #361 and #442

Alinda Morris #429

Cheryl Clendenon #482

Michele Williams #395

Kae Whitaker #114

Links:

Kim Dawson

LuAnn Nigara

Profit With Window Treatments

Kirsch

My Doma Studio

Kravet

Well Designed Article

IWCE Vision

Welcome to the last podcast for 2019! Today, we have Sally Williams, the owner of Colorful Concepts Interior Design, based in Raleigh, New York, with us on the show. Sally knows who she is, what she is capable of doing, and what sets her apart from other designers. And this comes across very distinctly in her carefully thought-out and exceptionally well-written bio. Listen in today, to hear what Sally has to share about the way she markets and grows her design firm.

Sally is very clear about what she will do and what she won’t do in her business. And she knows precisely what to say when she has to have difficult conversations with her clients. This is Sally’s secret sauce because certain conversations can be very hard to have if you’re not prepared. In today’s show, Sally explains how she’s equipped herself for having these hard conversations with clients, and she talks to us about two changes that she made in her firm, which have resulted in a 40% increase in her gross sales in just one year. Be sure to tune in today, to find out more!

We wish you the happiest and most successful of years in 2020!

Show Highlights:

• Sally explains how she achieved a 40% growth in her business this year, by making two changes.
• Changing to charging an hourly rate, rather than a flat fee.
• Sally explains how she estimates the cost of a design project.
• Sally’s mechanism for billing her clients for additional work.
• Sally explains how she and her team track their hours.
• Sally walks us through her strategy wall for new projects.
• Setting things up for a new project.
• Sally explains how she persuades new clients to hang in there, and bear with her until she’s ready to start with their project.
• How Sally and her team coped with a 40% growth this year.
• Creating touchpoints for keeping the communication with the client open throughout a project.
• The wrapping-up process.
• Susan Brunstrum (#36) has developed a great process for wrapping up a design project.
• Charging the same mark-up percentage on products across the board.
• Sally explains how she builds her pipeline and markets her business.

Bio:

Sally Williams, the Owner and Principal Designer of Colorful Concepts Interior Design has a design aesthetic that is timeless and free of stylistic premises working in contemporary and traditional spaces alike.

Sally is a CQRID-certified Interior Designer who has also earned an Accounting degree from the College of William and Mary.  She worked in Corporate Accounting Management prior to following her life-long passion for Fine Art and Craft by opening a Gallery in downtown Raleigh, North Carolina.  During her seven years of Gallery ownership, Sally’s eyes were opened to the world of Interior Design.  With the encouragement of Gallery clients, friends, and family, she pursued vigorous self-study of the field. In 2002, Sally closed the Gallery and Colorful Concepts was born. 

The gallery and artists Sally worked with continue to inspire her design approach today.  She begins her designs with the color palette, which sets the tone for the entire project.  Sally transforms a space artistically, providing balanced composition and soulful color schemes set in crisp optimistic environments.  She has a strong philosophy that environments impact peoples’ daily lives, and she works with the client to deeply understand what they want and need in their space.

​As the daughter of a United States Foreign Service Officer, Sally spent much of her childhood overseas.  A multi-cultural heritage of French-Canadian on her Father’s side, and Peruvian on her Mother’s, has also inspired Sally’s creativity, which is delivered beyond her client’s expectations.

Sally is a Past President of the Triangle Chapter of the Interior Design Society; a member of numerous Professional Associations including the Home Builders Association and the Remodeler’s Council; and is a volunteer with the Leukemia and Lymphoma Society and the Carolina Designer Craftsmen Guild.  Sally has lived in Raleigh for thirty years, where she and her husband, Richard, raised their two daughters – Angela and Nancy.  

Colorful Concepts Interior Design is a full-service Interior Design studio providing professional services in residential renovation design, space planning, new home materials selections, custom window treatments, and furnishings, fine art and craft consulting, and more.  At Colorful Concepts Interior Design, long-term client relationships are valued, and we look forward to working with you on future projects as well. We are fortunate to serve clients in a way that truly enhances their lives.

Previous shows mentioned in this episode:

Cheryl Clendenon # 482

Susan Brunstrum # 36

Nicole Heymer # 125, #317, and #466

Fred Berns #22, #48, #96, #174, #226, #289, #337, #393, and #460

Links:

Colorful Concepts Interior Design

Instagram

Facebook

Dering Hall

Luann Nigara

Well Designed Article

My Doma Studio: A Well Designed Business

Welcome to another Power Talk Friday! Today, we’re very excited to be talking money with our guest, Gerri Detweiler! Gerri understands just how to talk to creatives like us about money in a way that we truly get it.

As designers, we need to understand that working intentionally with our business finances will ultimately allow us to bring our design talent to the world. However, many creatives struggle to understand the nuances of money and finance, so, in today’s episode, Gerri talks to us about business finance and she explains how to get access to a line of credit. Be sure to listen in, to get a clear understanding of credit and financing for your business.

Gerri has been guiding individuals through the confusing world of credit for more than twenty years. Her articles have been widely syndicated, and she is either the author or co-author of five books, including her most recent, Finance Your Own Business: Get on the Financing Fast Track. Gerri is also the Education Director for Nav, which matches small business owners to their best financing options and gives them free access to their personal and business credit scores. Tune in today, to find out more!

Show Highlights:

• Gerri admits that she’s not a numbers person. She does what she does because she loves helping people.
• Gerri hates seeing people making bad choices.
• Why you need to have a good financial buffer available for your business.
• Setting your business up smartly, for success.
• Protecting your personal finances from your business’s ups and downs.
• There are a lot of misconceptions and misunderstandings about which cards to use in your business.
• Some clever strategies for saving on bank charges.
• Avoiding fraud with credit cards.
• Using business credit to benefit your cash-flow.
• Establishing a line of credit.
• There are many different loans available for small businesses via the SBA.
• Checking on business credit.
• Why you need to keep your personal credit scores separate from business credit scores.
• Business credit- use it or you’ll lose it.
• How Nav helps business owners.
• You can set up your business credit for free with Nav.

Links:

Nav: The coupon code for opening a premium Nav account is PODCAST.

Nav Blog

Find out which small business credit cards don’t report to your personal credit: Nav

Small business credit cards that DO help you build business credit

Get Nav’s free Build Business Credit Checklist at Nav Podcast

Facebook: Nav

Twitter: NavSMB

Previous shows mentioned in this episode:

Peter Lang #349 and #464

Kimberley Merlitti #361 and #442

Michele Williams #137, #180, #395, and #424

Taylor Spellman #467

Ashley Micchice #468