Business of Architecture Podcast

513: The 6 High-Profit Business Models for Architects with Rion Willard

38 snips
Feb 23, 2024
Discover the 6 high-profit business models for architects, including global arbitrage through outsourcing, remote work, digital micro-practices, and niche market specialization. Explore the shift towards architectural consulting and advisory services for enhanced profitability and efficiency. Unveil secrets to achieving remarkable profit margins beyond industry standards and learn how to revolutionize your architecture practice.
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INSIGHT

Low Profit Margins in Architecture

  • Architecture firms typically achieve low profit margins, averaging around 8-15%.
  • High-performance firms target profits above 20%, often reaching 30% or more.
INSIGHT

Organizational Bottlenecks in Architecture

  • Architects often become the bottleneck due to flat hierarchies and hiring less experienced staff.
  • Skilled entrepreneurs hire more competent people to delegate and reduce bottlenecks effectively.
ADVICE

Focus by Saying No Ruthlessly

  • Avoid trying to be everything to everyone; focus on saying no to non-priority clients and projects.
  • Saying no ruthlessly leads to better focus and greater success, as exemplified by Steve Jobs.
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