As architects profit margins shrink… I’ve been trying to think of ways to bring in different streams of revenue to the firm I currently work for. I’d like to propose leading an incubator, where designers from all levels can meet during work hours (at least once a week for about 1/2 hrs?) to discuss and develop/ research an idea related to design. I’m wondering if anyone else has done this at their firm? Or have participated in something like this and can share their thoughts? I’m concerned with the viability of this tbh… we usually are strapped for time already, but I do think this could not only bring colleagues together, it could also be a great outlet to have.
Wood Guy
Jul 13, 22 8:08 am
Interesting idea. At the small, residential design/build firm where I used to work and was in charge of design and business development, the management team did something like that. It was informal but we met regularly to brainstorm ideas for how to grow. Decisions made included starting a cabinet shop, reincorporating the design business back into the primary business, and developing pre-designed house plans. Ideas that didn't make the cut included starting our own flooring business, lumber sales, handyman division, property management division, and a concierge service for our wealthier clients.
Focusing on designers-only, you might get some creative ideas but beware of employees getting offended if their ideas are not implemented; thinking like a business owner requires a mentality and skill set that many employee-minded people don't share. But if your team is unusually entrepreneurial and motivated, it could be interesting to see what ideas come up.
I would suggest starting out by setting goals and expectations. What are the criteria? Who will fund the idea? Who will implement the changes? How will you measure success? Etc.
Archi-Dorck
Jul 14, 22 5:16 am
Thanks for your input! Such helpful advice. I had a feeling that other firms were doing this/ have done this, it’s great to hear that it can work.
As architects profit margins shrink… I’ve been trying to think of ways to bring in different streams of revenue to the firm I currently work for. I’d like to propose leading an incubator, where designers from all levels can meet during work hours (at least once a week for about 1/2 hrs?) to discuss and develop/ research an idea related to design. I’m wondering if anyone else has done this at their firm? Or have participated in something like this and can share their thoughts? I’m concerned with the viability of this tbh… we usually are strapped for time already, but I do think this could not only bring colleagues together, it could also be a great outlet to have.
Interesting idea. At the small, residential design/build firm where I used to work and was in charge of design and business development, the management team did something like that. It was informal but we met regularly to brainstorm ideas for how to grow. Decisions made included starting a cabinet shop, reincorporating the design business back into the primary business, and developing pre-designed house plans. Ideas that didn't make the cut included starting our own flooring business, lumber sales, handyman division, property management division, and a concierge service for our wealthier clients.
Focusing on designers-only, you might get some creative ideas but beware of employees getting offended if their ideas are not implemented; thinking like a business owner requires a mentality and skill set that many employee-minded people don't share. But if your team is unusually entrepreneurial and motivated, it could be interesting to see what ideas come up.
I would suggest starting out by setting goals and expectations. What are the criteria? Who will fund the idea? Who will implement the changes? How will you measure success? Etc.
Thanks for your input! Such helpful advice. I had a feeling that other firms were doing this/ have done this, it’s great to hear that it can work.