Ep.08 - Let's Talk Profit Margins Vs Revenue

Send us Fan MailWhile seeking business knowledge and continuing education on furthering my interior design business I am  constantly hearing about the  goal of achieving a multiple million dollar interior design business. Now, let’s be clear….. that is an awesome goal and at one point that was a goal of mine too. I was thrilled the first year we broke a million dollar revenue. Beyond thrilled, all may hard work had paid off, hours and hours and years and years of work to get there and I was happy but weirdly not impressed with the actual profit that came with that revenue.  I am not trying to change this  goal, nor am I telling you that this isn’t an achievement. What I am trying to tell you is that this goal is a great one IF you are charging the right rates in order to have a profit margin that allows you to sustain a successful and PROFITABLE business. So let’s talk profit margins!Be sure to follow along on Instagram @thebusinessofbeautifulspaces + @thorntondesign to stay up to date on what we're talking about next week. If you love our podcast, please, please, please leave us a review. If you have any questions or topic ideas OR you wish to be a guest email us [email protected] or [email protected] Laura Thornton is the principle designer of Thornton Design Inc, located in Kleinburg, ON. Since founding the company in 1999, Laura has been committed to creating a new kind of interior design experience for her clients. Thornton Design is an experienced team of creative talents, focused on curating beautiful residential and commercial spaces in the Toronto, Ontario area and beyond. Now sharing all the years of experience with other interior designers to create a world of collaboration and less competition. The Business of Beautiful Spaces I @thebusinessof beautiful spacesThornton Design I @thorntondesignStep-by-step guides, AI Chat GPT Made Simple and Claude Made Simple, start at the very beginning and then walk you through building your own role-based AI assistants, complete with prompts, checklists, and plug-and-play workflows you can implement immediately. Get both guides (and more designer resources) here: https://thebusinessofbeautifulspaces.com/designer-resourcesBe sure to follow along on Instagram @thebusinessofbeautifulspaces + @thorntondesign to stay up to date on what we're talking about next week. If you love our podcast, please, please, please leave us a review. If you have any questions or topic ideas OR you wish to be a guest email us [email protected] or find us on instagram @thebusinessofbeautifulspacesLaura Thornton is the  principle designer of Thornton Design Inc, located in Kleinburg, ON.  Since founding the company in 1999, Laura has been committed to creating a new kind of interior design experience for her clients. Thornton Design is an experienced team of creative talents, focused on curating beautiful residential and commercial spaces in the Toronto, Ontario area and beyond. Now sharing all the years of experience with other interior designers to create a world of collaboration and less competition. The Business of Beautiful Spaces  I @thebusinessofbeautifulspacesThornton Design                                      I @thorntondesign