Didn’t reach your profit goals in 2021? Try getting these 5 basics right in 2022. 

by Claire du Plessis

If your practice can improve on these 5 basic steps, you’re off to a flying start! 

1 Start every project with a profit-inherent fee! 

From accurate charge out rates to realistic project time per stage, architectural practices get this crucial step wrong more times than not.

The good news is you don’t need super savvy finance skills to get it right. 

Tool alert: Architect Fee Calculator 

With just basic project information, the Fresh Projects architect fee calculator will calculate your profitable fee in minutes. 

2 Allocate tasks according to your staffs’ core function.

Fee earning staff members should be focused on fee earning tasks. It’s that simple. All (or as much as possible) non-fee earning work should be allocated to non-fee earning staff.

Too often architects are spending countless hours on administrative tasks. Hours you could be spending on fee earning project work. Reallocate these administrative tasks with smart resource planning. And instantly free up more fee earning hours.

Tool alert: Resource Utilisation 

The Fresh Projects Resource Utilisation Tool quickly shows you where you can reassign tasks and optmise team members fee earning time.

3 Project Time Transparency

Knowing how many hours you have per task and/or stage is crucial information for every team member on your project. Creating this understanding in your practice empowers every staff member to actively engage in “staying on track”. 

Tool alert: Project Scheduler 

The Fresh Projects Scheduler shows you how many hours you have for a task and/or stage. And most importantly how many hours you have left to complete it. 

4. Track actual time + expenses

Architecture is a time based services business. If we’re not tracking our time, we’re not measuring the basic element that enables us to bill our clients. 

Tool alert: Mobile Timesheet App

The Fresh Projects Timesheet Mobile App enables you to capture time on the go. 

  • Assign calendar items to projects and capture time with a click. 
  • Upload expense claims (with the invoice or slip) on your mobile phone. 

5. Review + Repeat

Where focus goes, energy flows. Knowing where to focus is key to growing a healthy practice. One that is financially sustainable and able to repeatedly produce good work.

Tool alert: Profitability Dashboards 

Fresh Projects generates two insightful dashboards. 

In a single view, you can understand what kind of projects you typically make better profits on. And which of your clients are driving real profitability and growth. Allowing you to focus on projects and clients that contribute to your bottomline and sustainable future. 

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