Beyond Intuition: Financial Management for Small Firm Architects
Sponsored by AIA Seattle
In this 3-part Small Firm Workshop Series, Rena M. Klein and her colleagues at Charrette Venture Group will offer foundational knowledge, strategies, tools and resources for successful small firm management. Ideal for small firm architects and owners, these highly interactive half-day sessions will include informative presentations, case study examples, workshop activities and ample time for peer-to-peer discussion.
As a financial management tool, intuition has its limitations. While most small firm owners have a good sense of what’s happening at their firms, operational indicators such as cash flow shortages or mounting receivables don’t tell the whole story. Strategic decisions including hiring and moving to a larger office require understanding of financial trends on both a macro and micro level. In this highly interactive workshop, participants will learn how to tell if their firm is being profitable, how to determine billing rates, and to use financial scenario planning tools.p>
Individual session registration will be available 2 weeks prior to the session.
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LEARNING OBJECTIVES
Discuss the critical tools, strategies and knowledge necessary for successful small firm management. Understand the limitations of operational indicators as a way of telling the whole financial story. Deepen knowledge of financial trends—both macro and micro levels—in order to strengthen financial decision making. Discern indicators of profitability over time, and accurately determine billing rates using financial scenario planning tools.
