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Know Your Numbers: Cash Flow, Taxes & Accounting for Interior Designers
Ever wonder why some interior design firms seem to glide through the ups and downs of business effortlessly, while others always seem stressed about finances? I've learned the key difference is simple but powerful—knowing your numbers.
In this week's episode of Success by Design, I'm sharing exactly how I've structured my business around clear, reliable financial practices. Understanding my numbers has allowed me to confidently make decisions, avoid unnecessary stress, and sustainably grow my firm.
You'll get a peek inside my approach, including:
Weekly Accountant Meetings: Why my 30-minute weekly financial review is my business lifeline.
Smart Savings: How I build and manage rainy-day funds using high-interest accounts like VMFXX.
Navigating Sales Tax: Understanding "nexus"—yes, you might owe sales tax in places you've never even visited!
Accrual vs. Cash Accounting: The essential reason I switched to accrual accounting, especially for potential future business sale or growth.
Plus, join me for a fun "Two Truths and a Lie" challenge that tests how well you really know your business finances!
No more guessing. No more stressing. Let's master our numbers together.
For personalized guidance, book your discovery call now.
Thanks to our sponsor, Shaw Contract - Learn more and specify smarter at shawcontract.com
Connect with Katie Decker-Erickson
Book Your Coaching Strategy Session with Katie!
Business Coaching for Interior Designers
Click Here to read the full episode transcript.
This episode of Mastering the Business of Interior Design: Success by Design is brought to you in partnership with Leah Bryant Co.
Meet Katie, a dynamic PODCAST host and successful entrepreneur.
Former news anchor turned leader of a multimillion-dollar design firm, Katie's passion lies in uncovering brilliance and sharing design and business secrets. Her insatiable curiosity, honed in the media spotlight, fuels enlightening conversations on her podcast, offering a platform for wisdom-seeking design enthusiasts and aspiring entrepreneurs.
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Know Your Numbers: Cash Flow, Taxes & Accounting for Interior Designers
Ever wonder why some interior design firms seem to glide through the ups and downs of business effortlessly, while others always seem stressed about finances? I've learned the key difference is simple but powerful—knowing your numbers.
In this week's episode of Success by Design, I'm sharing exactly how I've structured my business around clear, reliable financial practices. Understanding my numbers has allowed me to confidently make decisions, avoid unnecessary stress, and sustainably grow my firm.
You'll get a peek inside my approach, including:
Weekly Accountant Meetings: Why my 30-minute weekly financial review is my business lifeline.
Smart Savings: How I build and manage rainy-day funds using high-interest accounts like VMFXX.
Navigating Sales Tax: Understanding "nexus"—yes, you might owe sales tax in places you've never even visited!
Accrual vs. Cash Accounting: The essential reason I switched to accrual accounting, especially for potential future business sale or growth.
Plus, join me for a fun "Two Truths and a Lie" challenge that tests how well you really know your business finances!
No more guessing. No more stressing. Let's master our numbers together.
For personalized guidance, book your discovery call now.
Thanks to our sponsor, Shaw Contract - Learn more and specify smarter at shawcontract.com
Connect with Katie Decker-Erickson
Book Your Coaching Strategy Session with Katie!
Business Coaching for Interior Designers
Click Here to read the full episode transcript.
This episode of Mastering the Business of Interior Design: Success by Design is brought to you in partnership with Leah Bryant Co.
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