Today we welcome Peter Lang, Founder of The Designer CPA – a public accounting firm that specifically works with interior design business owners. In this episode, we discuss the nuances of accounting for the business of design, best practices, and the value of integrating your CPA into your regular business and financial strategy sessions. Peter also shares how he has leveraged years of data specific to the business of design to develop a resource guide of financial benchmarks to help you set realistic strategic goals for your design business.
The conversation ends with Peter sharing his advice on finding the right balance between work and life and how to define success in entrepreneurship and the design industry. Listen in to learn, grow, and redefine success for your design business!
Show Highlights:
- Peter’s transition from general accounting to specializing in the interior design industry.
- Peter provides solutions for financial management challenges faced by interior designers, including cash management techniques and understanding sales tax.
- The importance of a standard data report for design professionals is discussed, with tips on data collection, presentation, and utilization.
- Lang shares insights into average gross margins, overhead costs, payroll, and other financial aspects of the interior design business.
- Advice on choosing the right project management software and achieving a work-life balance.
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Supporting Resources:
- Website – https://thedesignercpa.com/
- Instagram – https://www.instagram.com/thedesignercpa/
Sponsor Links:
Register for Design Biz Retreat: https://designbizsurvivalguide.com/design-biz-retreat/
