i+D - May/June 2019 - 25

Alan M. Siegel,
Levy Sonet &
Siegel, LLP
Denise Robertson,
Mills & Mills LLP
(Image: Irina Photography)

It's not necessarily the size of the project that
matters either. Siegel notes that big projects
aren't always as profitable as smaller ones.
The difference is carefully analyzing
profitability at the close of each project and
making the necessary adjustments. Because-
again-it's not merely a question of talent,
but of understanding the numbers. "You can be
the greatest designer in the world, you can
have a great portfolio of clients, but the only
way you'll know how to improve upon
your profitability is to actually analyze every
project to see, 'Well, what did I really earn
on this project?'" he says.
Likewise, Nigara emphasizes the need for
designers to create a system that can be
repeatable by anyone in the firm. Otherwise,
it's technically not a business. "It is imperative
and nonnegotiable that each designer must
establish a finite, duplicatable system for
running their business," she explains.
"Because if you are the only one that knows
how it's done, then that's a 'you'-that's
not a business."

Among the many potential risks design professionals may face, Robertson says,
include the following: working outside the scope of their ability; failing to outline
the scope of a project, which could lead to disputes with clients; not defining
obligations when working with others; offering personal guarantees; lacking proper
insurance policies; and investing too much time and capital in a project and failing
to get paid. "The biggest one I'd say is the impact on the reputation," Robertson
observes, noting its significant effect on business. "Aside from earning and collecting
money, it's crucial to protect that reputation in order for the business to really
survive and thrive."

Udi odiae. sam
fugitionse venis
verehende dessus
et ulparum
tsi odi audit ut
expla incte
(Image: Chris
Reardon)

JESSE BRAT TER
is a writer, editor, stylist, and
artist based in South Florida.
Formerly, she was features
editor at Luxe Interiors +
Design and associate editor at
Florida Design Magazine. She
also has penned articles for
Modern Luxury Miami and
web-exclusive home tours for
Architectural Digest.

Managing the Risks
Of course, every business faces myriad risks,
and identifying and taking steps to mitigate
them is crucial. "I certainly see that success
and avoiding disputes are closely tied to
risk management, and so I think one of the first
things that design professionals need to do
is understand what are the types of risks that
they might be facing in running their business,"
notes Denise Robertson, partner with
Mills & Mills LLP, a full-service Toronto
law firm.

Where your vision feels right at home.
From pergolas and trellis, to planters, arbors, and more, Walpole will meet your custom
design needs. Crafted in AZEKĀ®. Call 800-343-6948 or visit walpoleoutdoors.com
Servicing professionals nationwide


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i+D - May/June 2019

Table of Contents for the Digital Edition of i+D - May/June 2019

i+D - May/June 2019 - Cover1
i+D - May/June 2019 - Cover2
i+D - May/June 2019 - 3
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