Stop Ignoring Your Finances – Here’s Why It’s Costing You!

What if your numbers aren’t judging you, but trying to tell you a story?

In this episode, I revisit a powerful conversation I had with Danielle Hendon of Four Corners CFO about one of the most avoided topics in our industry: money.

If you’ve ever ignored an email from your bookkeeper, avoided opening QuickBooks, or wondered why you’re busier than ever but still don’t feel profitable, this episode is for you.

Danielle breaks down the financial side of running a creative business in a way that feels approachable, practical, and freeing. She shares why your bank account balance is not the full picture, why revenue and profit are not the same thing, and why understanding your numbers can actually reduce anxiety instead of creating more of it.

I also share my own experiences with avoiding the numbers, growing revenue without growing profit, and learning the hard way that a bigger business is not always a more profitable business.

This conversation is especially important for interior designers because our business model is complex. We manage client retainers, product orders, vendor invoices, hourly work, flat fees, project timelines, and feast-or-famine cash flow. Without a clear understanding of what is actually happening financially, it’s easy to make decisions based on hope instead of facts.

This episode is a reminder that looking at your numbers does not have to feel scary. Your numbers are simply information. When you understand them, you can price with more confidence, protect your profit, and lead your business like a CEO.

Episode Highlights

Why so many designers avoid looking at their numbers
Why your finances are not a reflection of your creativity or worth
The difference between revenue and profit
Why cash in the bank does not always mean your business is healthy
The importance of hiring a bookkeeper and still understanding your own numbers
How to separate revenue-generating costs from operating expenses
Why tracking your time matters, even when you charge flat fees
How to know whether your projects are actually profitable
Why growing revenue without growing profit can create more work, not more wealth
How to look backward at the year while also planning forward
Why designers need to understand their pipeline, team costs, and cash flow
How a CFO-style perspective can help you make smarter business decisions

Episode Resources

- Learn more about Pricing with Confidence
- Learn more about Danielle Hendon at her website and follow her on Instagram.
- https://4cornerscfo.com/resilientbydesign

December 5, 2024

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TERMS & CONDITIONS

Please read all of the terms and conditions set forth below. The Winter Designer Winter Designer Retreat is offered subject to our standard terms and conditions, set forth below. Upon purchase with Rebecca Hay Designs Inc., you are deemed to be accepting all “Terms and Conditions.”

Reservation Policy:

All Winter Designer Retreat prices are current at the time of publication and in CAD. To confirm your reservation, you must pay the full amount via the secured form on this website. Payments will be processed by Stripe.

Cancellation Policy:

In the event an attendee cancels prior to December 18, 2022, a refund will be issued, minus a $275CAD administration fee. As of December 19, 2022, the event is 100% non-refundable. Exceptions to our cancellation policy cannot be made for any reason, including weather, terrorism, civil unrest, or personal emergencies. There is no refund or discount for arriving late or leaving a Winter Designer Retreat early, or for not participating in any scheduled activity.

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We strongly recommend that you purchase flight cancellation insurance to protect yourself from unexpected circumstances that may cause you to cancel your Winter Designer Retreat. Cancellation of any travel plans, airlines, etc. will be completely your responsibility.

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Although it's unlikely, Rebecca Hay Designs Inc. reserves the right to cancel any Winter Designer Retreat at any time for any reason determined at our sole discretion, including too few participants, or if the quality of the Winter Designer Retreat or the safety of the participants is deemed by Rebecca Hay Designs Inc. to be compromised. In such a case, a refund of payments received from Winter Designer Retreat reservations shall constitute a full and final settlement and release of all claims against us. In the event of cancellation, Rebecca Hay Designs Inc. is not responsible for any loss incurred on account of non-refundable or non-transferable air tickets or other unrecoverable travel costs.

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Please ensure that you have all the relevant travel documentation for your Winter Designer Retreat location and that you arrive at the airport on time. Rebecca Hay Designs Inc. is not responsible if you lack the required documentation for your flight or for entry into another country (valid passport for the entire duration of the Winter Designer Retreat and return travel, visa, entry fee, etc.). However, if you are unsure of your requirements and need help, you are welcome to contact us for assistance. Rebecca Hay Designs Inc. cannot accept responsibility for delay or cancellation of any flights, train, buses or other forms of transport.

Resort Policies:

Your Winter Designer Retreat will be held at the JW Marriot in Muskoka, and all guests are required to follow their policies.

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Upon check-in, all valuable items may be placed in your room. Rebecca Hay Designs Inc. is not liable for any breakage, loss or theft of personal items. Please limit your valuables, as traveling with such valuables will be your complete responsibility.

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Rebecca Hay Designs Inc. recommends that you obtain cancellation, travel and medical insurance prior to attending any of our Winter Designer Retreats. Prior to participating in any activities or using any facilities, please ensure that you are medically and physically fit and able. If you have any injuries or illnesses, please seek doctor’s advice prior to attending. Rebecca Hay Designs Inc. is not liable for any injuries due to use of our facilities or participation in activities or during travel to and from the Winter Designer Retreat. Any injuries or medical conditions are completely your sole responsibility. By sending a deposit toward your Winter Designer Retreat, you certify that you do not have any physical condition or disability that would create a hazard for you or other participants during the Winter Designer Retreat. In other words, you certify that you are healthy and fit for any activities in which you plan to participate. Furthermore, it is required that you have the proper personal and health insurance to cover your needs while present in the Winter Designer Retreat, in case of any loss of property, illness, injury or death.

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Rebecca Hay Designs Inc. shall not be liable for any failures beyond its control. This covers natural disasters, war, ‘acts of God’, closure of airports, civil strife, accidents or failure to perform by third parties, including suppliers and subcontractors.

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We are committed to creating special memories for you during your Winter Designer Retreat, and that includes having an on-site photographer and/or videographer to capture any special moments. If you are not comfortable having your picture taken, please let us know in advance. Otherwise you authorize Rebecca Hay Designs Inc. to use any and all photos for Social Media and Marketing purposes.

*All policies and terms and conditions may be subject to change without notice.

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By making a booking with Rebecca Hay Designs Inc. for a Winter Designer Retreat, you accept on your behalf and all those named on the booking to be bound by these Terms and Conditions, including the general release of liability and assumption of risk, described below.

Release of Liability:

You hereby release and discharge Rebecca Hay Designs Inc., a Canadian company, its shareholders, directors, officers, agents and employees, from and against any and all liability, loss, cost, expense or damage arising, directly or indirectly, from the Winter Designer Retreat, including your participation in the Winter Designer Retreat activities.

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You acknowledge that you have voluntarily applied for a Winter Designer Retreat with Rebecca Hay Designs Inc., a Canadian company. You understand that you may be traveling to a foreign country and that you will participate in various activities. You are prepared to assume the risks associated with this Winter Designer Retreat, including: forces of nature, terrorism, civil unrest, war, accidents, personal injury and similar circumstances. You also assume risks associated with illness, disease, physical exertion and alcohol consumption, knowing that access to suitable medical support may be delayed. Your hereby agree to take full responsibility for your own actions, safety and welfare, including unanticipated events, injury, illness, emotional trauma or death

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