Business of Architecture Podcast The Financial Wizard’s Playbook: Secrets From a 20-Year Financial Insider | EP639
Jun 16, 2025
Ryan Mayhugh, Senior project accountant at HOK, brings over two decades of financial expertise in architecture. He discusses the crucial balance between creative freedom and smart money management. Mayhugh reveals how common oversights can be detrimental to small firms and shares a pivotal budgeting shift that led a startup to a substantial exit. He emphasizes the necessity of financial transparency and the stealthy advantages larger firms hold, offering insights that can empower smaller practices to thrive without sacrificing their creative vision.
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Prioritize Financial Expertise Early
- Small firm owners should prioritize hiring someone with financial expertise or develop that skill themselves.
- This builds a financial backbone critical for sustainable growth and profitability.
From Giant Firm to Startup Financials
- Ryan experienced a steep learning curve moving from Gensler to a startup firm with all financial setup from scratch.
- He had to build everything, learning as they progressed but aimed for clear financial goals.
Build Transparency and Metrics
- Establish good financial practices from day one to track profitability and forecast well.
- Financial transparency with staff fosters understanding, better decision-making, and accountability.