Business of Architecture Podcast 555: Money, Money, Money with Enoch Sears & Rion Willard
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Jul 19, 2024 Enoch Sears and Rion Willard discuss firm ownership, employee relationships, profit distribution, and wealth creation in architectural practices. Topics include the impact of owner mindset on business success, the link between owner profits and team bonuses, hidden entitlements about employees, and the importance of adopting a capitalist mindset for architects. They also share intriguing stories about high architect salaries, wealth consciousness, and simplifying practice operations.
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Money Misconceptions Hurt Firms
- Money is often unfairly viewed as greedy or selfish in architecture firms, creating a negative money culture.
- This mindset repels money, blocking healthy profit conversations and business growth.
Make Project Managers Profit Leaders
- Empower project managers as profit managers with clear financial KPIs like profitability, budget, and client experience.
- Share financial info openly so teams understand and care about profit, improving project outcomes.
Enoch Sears Sailboat Money Aversion
- After school, Enoch Sears rejected capitalist values, living cheaply on a sailboat and earning little while freelancing.
- This early life reflected his aversion to money and the belief that profit was selfish.