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Welcome back to the Interior Style Hunter Podcast and today on the show we welcome Nicola Pearson from Haines Watts to chat about pricing in design and all the intricacies and difficulties of this issue.
Nicola is a Chartered Accountant, has been a partner for the last thirteen years, and the core of her work at Haines Watts is around
The chat covers contracts and fixed fees, working capital and professional advice and some of the tools and systems that can help designers get the most out of their work with the least pain and effort. After going through all the technical expertise that Nicola has to share, we delve into some of the more personal aspects with our guest.
Nicola shares some of her inspiration and everyday wisdom from work and home, so stay tuned for that!
Key Points From This Episode:
- The complexity of pricing in the design industry.
- Setting your own prices at the right level according to a number of factors.
- Contracts, fixed fees and reassuring clients and designers.
- Seeking help from a professional who deals with these issues specifically for designers.
- Defining working capital and securing your assets and funds.
- Utilizing systems, tools and professional advice to maximize your efficacy.
- HMRC and the government’s new tax regulations and requirements.
- How Nicola reconciles her work and personality and shows up for her role.
- When and where Nicola gets her best ideas.
- The biggest challenges that face Haines Watts and Nicola’s work.
- Some of Nicola’s best business decisions.
- Looking forward to the future with Nicola and Haines Watts.
- Why bigger accounting firms are sometimes the better option.
- A round of quick fire questions with Nicola!
- And much more!
“People do need to be very aware of how they are pricing and also making sure what they are charging is covering their overheads.” — @nikipearson [0:03:36.3]
“Once you’ve got something standard that you can use time and time again it’s a good investment.” — @nikipearson [0:12:02.9]
“For us there is a huge choice out there in terms of accountants, lots of people who do what we do and I would say that goes for interior designers too.” — @nikipearson [0:29:37.6]
Links Mentioned in Today’s Episode:
- Nicola Pearson on Linkedin — https://www.linkedin.com/in/nicola-pearson-aa368048
- Haines Watts — https://www.hwca.com/
- Nicola Pearson on Twitter — https://twitter.com/nikipearson
- Xero — https://www.xero.com
- FreeAgent — https://www.freeagent.com/
- Receipt Bank — https://www.receipt-bank.com/
- How to Be Happy — https://www.amazon.co.uk/How-Happy-unmissable-uplifting-bestseller/dp/0751568538