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Renovation Management for Interior Designers – Expanding your business with a lucrative service

What you will learn in this episode: 

• What defines a smooth and successful project?

• How an interior designer can help get you real numbers for your budget

• What to do if you’re already mid-project and over-budget 

How does a budget ensure a smooth and successful project? Well, first off, how do you define a smooth and successful project? Most people think of the team or items they are selecting as how they define a smooth and successful project. And yes! Those are large pieces of the puzzle that every renovation project is. But the overarching component that really does drive that end goal is the budget. 

The most common thing I see are budgets getting blown. What does blown mean?

When I hear that “My budget was blown.” I hear that there was likely no real budget in the beginning. That it was based on, loose estimates or best guesses or whatever you want to call it. But that is NOT the definition of a real budget. 

If you are getting your numbers from a mid size or large construction company, they will use what is called an ‘allowance.’ I explain more about what this is in today’s episode so you can understand that and why they don’t always give you the numbers you really need. Allowances rarely hit the mark. On a rare occasion, they will be over, but more often than not, they will be under. 

For areas that are typically given an allowance, such as light fixtures, I always highlight these numbers on the contracts and we run down those numbers and get real numbers prior to the work beginning. 

The sooner you know real numbers, the better you are, and the more control you have over your budget and your project, ensuring a smooth and successful project.

Yes, it can seem tiresome to be constantly communicating, constantly double-checking work, and touching base as to where you are in the budget. But the smooth and successful projects do just that. And those budget numbers stay within reason. 

So what if you are mid-project and over budget? Don’t panic! You still need to see this project through. My best advice for when I hear this is:

Invest in what you won’t want to come back or will be very difficult to come back and change out. 

Meaning, tiles in a shower are pretty permanent. You’re not going to want to rip out tiles. You’re not going to want to save money by putting in ceramic when you know in your heart you wanted marble shower walls. Or if you want heated floors, that is a major project to go back and add!

So, go ahead and invest in those shower walls! 

In today’s episode, I talk more about things to invest in and ways to save. But I hope you hear the importance of taking charge of your project and how creating a REAL budget, in the beginning, will ensure a smooth and successful project in the end. 

Like this Episode?

• Be sure to check out Episode #24: How to Avoid Blowing Your Budget

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