If you’re an interior design business owner, we probably don’t have to tell you how challenging it can be to manage your business profitability in addition to a portfolio of in-progress projects. Chances are, your time is very limited. So, we think you’re going to love our latest announcement! We recently rolled out a free development for our members to streamline interior design retainer management. No matter what your pricing model looks like, these tools will help you work more efficiently and stay in control of your profitability. Take a look at these features below!
To help you track your time effectively, you can now enter the retainer amount for each project under the client “To-Do List” section in your 4Dbiz portal. This works for both new and existing clients. As you add items to your To-Do List for a project, the portal will automatically calculate how many hours of work you have scheduled. When you track time on a to-do, it calculates how much time you have remaining on the retainer.
You will automatically receive an email when there are 5 hours remaining on a retainer, and when all of the hours have been used. Visual indicators on each To-Do task will also alert you if you have tracked more time than you estimated for a task. If consistent time tracking isn’t one of your greatest strengths, this will be an especially valuable tool for you. It is a simple way to keep your time logs organized in one place, while also monitoring them in relation to your financial goals for your business.
You can easily get a bird’s eye view of your business with one quick glance at the new tools on your dashboard. These tools show the total number of retainer hours for all of your projects combined, how much work you have scheduled for the week, and how much billable time you have tracked for the week. It’s important to note that billable time is directly related to business revenue and personal income.
Our goal at 4Dbiz is to provide you with support and resources to make your business work even better for you. To review how these interior design retainer management features can benefit your business, schedule a call with Shayna, 4Dbiz CEO and Fractional COO for our members. With over 7 years of experience growing TWO businesses to 7 figures in this industry, she has now made it her mission to help other interior designer business owners do the same.