It seems as if new housing
starts were up 17% for the month of May.
Wow! Imagine getting actual
uplifting news from the media. Ok. I
shouldn’t whine, and I won’t. It is good
news. Unemployment is also down. Yes, gas is creeping up but it’s also prime
time for driving and there has been a reduction in refining. I won’t even go there. Still, it looks as if we are on the
mend. If so, it’s time, now, to start
thinking about what will come. As astute
business men and women we have continued to market our services and let people
know who we are and what we do. If you
feel as if you just cant’ hang on for another minute, tough up. Now would absolutely be the worst possible
time to leave the business. Amateurs,
non-professionals and those who thought interior design was an easy job have
left the field in droves. What that
means for those of us left is more business.
Even with less demand the men and women practicing interior design are
far fewer than two years ago. So, even
though we might possibly see fewer clients there are also far fewer designers
to service them. At the same time there
is a tremendous amount of pent-up demand.
We’ll be busy. Isn’t it just
wonderful news?
Now, for the other side of
the equation. Business is going to be
different from what we did before. First
of all, clients with money aren’t going to be throwing it around
willy-nilly. They will want to be less flamboyant
with how they spend. They will be
interested in how and why they should work with you at a time when many
Americans are still trying to make ends meet.
Particularly the rich. They
stayed rich through this downturn and they will remain rich. For most upper middle management types and
many business owners these past few years have actually taken far less a toll
than for many other Americans.
Ostentatious displays of wealth, however, are definitely out. One of the best ways to persuade clients to
spend might possibly be to remind them of the huge increase in planet friendly
items we use every day. Fabrics,
lighting, flooring and wall coverings have all seen an explosion of “green”
product. One of the best ways to show
you are aware of your clients need for moderation is to explain how very
important the use of these “green” products is to the environment. It probably won’t surprise you to learn that
many of the products are also a little more expensive than standard
products.
I hope you won’t be
surprised to learn during the past two years many products have seen cost
increases. Whether you practice transparent
pricing or stated pricing your profit of margin is going to go up. That, too, is a good thing. So, you will be helping in so many ways. You will be helping your client spend their
money more wisely, you will be helping the environment and you will absolutely
be helping your bottom line. What a
great way to cure a bad financial hangover.
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