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Financial Management for Design Professionals: The Path to Profitability [Paperback]

Steve L. Wintner , Michael Tardif
4.3 out of 5 stars  See all reviews (7 customer reviews)

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Book Description

December 1, 2006 141958331X 978-1419583315
You don’t need to be a financial wizard to ensure the future success of your design firm! An accessible guide to financial management, Financial Management for Design Professionals is written for design firm principals who are responsible for their firm’s finances but have little or no financial management education or experience. For mid-career design professionals looking to advance their careers, the book is an indispensable reference and training guide. Using a simple, step-by-step format, this book shows design professionals how to:
• Develop an annual budget and profit plan
• Calculate the overhead rate for a firm
• Calculate the break-even rate and hourly billing rate for each employee
• Establish project fees
• Use readily available financial information in successful negotiation
• Design and interpret financial reports
• Plus: clear explanations of the fundamentals of financial management!

Editorial Reviews

About the Author

Steve L. Wintner, AIA, is an architect and founding principal of Management Consulting Services, a consultancy specializing in design firm management.  A registered architect since 1968, he is also a contributing author to several books on financial management. 
Michael Tardif, Assoc. AIA, Hon. SDA, is a freelance writer and editor with extensive experience as a project architect and manager, design technology consultant to architectural/engineering firms, and director of educational programs and publications for design professionals.  He is a contributing editor of The Architect’s Handbook of Professional Practice, 13th Edition (American Institute of Architects), and is a lifetime honorary member of the Society of Design Administration.

Product Details

  • Paperback: 208 pages
  • Publisher: Kaplan AEC Education (December 1, 2006)
  • Language: English
  • ISBN-10: 141958331X
  • ISBN-13: 978-1419583315
  • Product Dimensions: 0.4 x 7.1 x 8.9 inches
  • Shipping Weight: 9.6 ounces
  • Average Customer Review: 4.3 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #1,157,763 in Books (See Top 100 in Books)

More About the Author

Steve L. Wintner, AIA Emeritus, is the founder and principal of Management Consulting Services, a Houston-based firm specializing in professional design firm management.
Mr. Wintner's professional career spans six decades, during which he has attained a wide-breadth of experience in a diversity of design firm management subjects. He has been a licensed architect since 1968, with NCARB certification and registration in California, Texas and New York. He is the former Vice president/director of Operations for two large, internationally-prominent architectural firms and the managing Principal of his own architecture firm.
Steve has written numerous articles for the AIA and has been a workshop leader at AIA National Conventions, plus numerous AIA state and local components since 1992, where he has presented his financial management workshop, on which he based the book he co-authored with Michael Tardiff, titled: "Financial Management for Design Professionals: The Path to Profitability".

Customer Reviews

Most Helpful Customer Reviews
9 of 9 people found the following review helpful
4.0 out of 5 stars Great for all design firms February 8, 2008
Format:Paperback|Verified Purchase
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This is a great book for both the finance savy and those struggling to get a grip on your company finances. I would highly recommend it for any architect, engineer or graphic design firm; but know that the principles are easily applied to any business. Like a good foundation the authors starts at the beginning and builds to your end goal with each chapter. The most valuable aspect of this book is that the material was presented in a way that is easy to understand, even while watching TV. What would make the book better? I would suggest a section on applying the strategies with QuickBooks. Since the majority of small to medium design firms use QuickBooks for their accounting it would have been really helpful if the book had presented example companies with charts of accounts, budgets, P&L, profit plan, etc using QuickBooks software. Even if your firm is profitable I would recommend reading this book to help you find those subtl;e areas in your business where you can make improvements.
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12 of 13 people found the following review helpful
5.0 out of 5 stars Great Book May 14, 2007
As a busy Architect who did not double major in business, this book not only helped me understand how to really know how my company was (or wasn't) doing financially, it helped me communicate what my Accountant needed to know (he did not double major in Architecture.) I highly recommend this book to all Sole Proprietor Architects who want to know how much money they need to keep the ship floating! Good luck!
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2 of 2 people found the following review helpful
5.0 out of 5 stars Must Read! February 3, 2010
Format:Paperback|Verified Purchase
This book does an excellent job of displaying the basic principles and numbers to meet if you want to operate a successful design firm. It is very easy to read, but also FULL of important information. Take notes and do the math it describes - it is eye-opening! We are a 5-year old small firm down to 4 people after the 2009 slump. This book has inspired me to get back on track and get PROFITABLE again!
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2 of 2 people found the following review helpful
By John
Format:Paperback|Verified Purchase
I wish I had read and re-read this book before opening my own firm 6 years ago. The information in this book is vital to running a healthy design firm. I recommended this book for anyone with their own design practice.
The book is a very well thought out and informative. The information is laid out in an easy to read and concise format.

I also strongly recommend hiring a very good bookkeeper with prior experience working with design or at least service based practices.
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