Fine-Tuning Your Company for Profit
‘Tis the season for many retailers to start seeing a spike in profits — why should your company be any different? Whether you’re in the red or safely in the black, who doesn’t want to think about adding to their bottom line? Here are a few ways you can get a jumpstart on earnings and maybe even begin the new year with some new profit-adding tactics.
Are You Charging for Design Yet?
Are you even using design documents? Trying to piece together a complicated project without proper documentation is like traveling around the world without a map. However, when you have the correct project drawings, plans and diagrams, then it’s smooth sailing.
If you have not implemented design documents, register for an eCourse version of ESD162 — Design Documents. Get into the nitty-gritty of design work through crucial documentation.
This course introduces its students to the importance of complete and accurate design documentation; it then teaches how to interpret architectural drawings and terminology, and how to create the necessary design and engineering project documentation to make projects successful and profitable. Students will learn how to annotate architectural construction floor plans and elevation drawings and to procure all essential A/V design and engineering documents, including block diagrams, schematic diagrams, and equipment rack and room layouts.
Another course that pairs nicely with this introduction is ESD161B – Design Thinking and Client Discovery. This class is designed to teach its students how to convince even hard-to-please customers why they would benefit from professional expertise. It teaches designers how to promote their expertise as a professional benefit. The course will explain the tool kit used by the designer for understanding the client’s real problem and determining the right scope of work. It also discusses the importance for creating and evaluating prototypes, mockups and tests to confirm compliance with the design specification. (Hint: These are all things you can and should charge your clients for.)
Tapping Into Recurring Revenue
You’ve heard about recurring monthly revenue (RMR) programs, and you know it would be good for your company. The benefits are undeniable — establishing long-term relationships with your clients, boosting customer satisfaction, creating a steady cash flow and increasing the value of your business. But it’s not that simple because there is no one-size-fits-all business model to follow. Every company must find the mix that works best for them and their customers.
Maybe you’ve started researching your options, but you just don’t know how to begin. CEDIA has a series of business toolkit webinars designed to get you started.
In this webinar series, CEDIA guides users through the process of developing a RMR program. Consider this series your how-to guide when it comes to recurring revenue.
Although there is no quick and easy way to start implementing and maintaining a RMR program, you don’t have to go it alone. Other home technology professionals are earning RMR; learn their tricks of the trade and, most importantly, how they got started. Hear about their successes and failures to ease your mind and guide your next steps.
The CEDIA business toolkit webinars are an exclusive CEDIA member benefit. Renew your CEDIA membership today and gain access to all the business toolkit webinars including last year’s series on increasing profitability. Many of these webinars have corresponding white papers, tools or templates available in the CEDIA resource library. The package of business toolkit webinars are just one of many benefits that provide ROI on your CEDIA membership. Visit cedia.net/benefits to learn more about CEDIA member benefits and joining. If you are already a CEDIA member, log on to your account and access the recurring revenue webinars today.