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A Well-Designed Business® | Interior Design Business Podcast

In today's world being a talented interior designer isn't enough to ensure that you have a profitable and successful interior design business. Design school doesn't always teach you the critical business skills to be sure your interior design business be everything you imagined it would be! A Well Designed Business is here to fill in the gaps and give you real live business skills from some of the top interior designers. Your host, LuAnn Nigara shares her 35 years of success in the interior design industry, and she finds the most successful guests to share their interior design business best practices.
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Now displaying: Page 1
Nov 9, 2021

Today with Peter Lang, Kim Merlitti, and Michele Williams

Welcome to a Well-Designed Business. Our financial Power Talk Friday experts, Michele Williams, Peter Lang, and Kim Merlitti are talking about year-end cleanup and planning for the new year. They cover what your balance sheet should look like, what tax strategies you can consider, what to look for in a financial professional, and why mindset matters.

Pick it apart:

[21:26] Kim shares about what’s included in the balance sheet cleanup

[28:16] Peter elaborated on the balance sheet cleanup

[31:41] Michele shares more about what issues she sees in clients’ balance sheets

[35:37] Peter talks about how to account for pending installations

[42:48] Michele explains how the Profit First account separation can help understand your revenue better

[55:08] Kim advises on cash planning with your tax accountant

[1:01:53] Kim shares how she helps clients project earnings

[1:03:56] Michele talks about how she helps clients build a three to five-year plan

[1:06:34] Michele shares how she helps clients who have empty pipelines

[1:14:11] Peter advises on the PPP and Covid grants and tax deferment options

LuAnn, Peter, Kim, and Michele's  Ah-Ha moments:

“The balance sheet should be a perfect representation of your financial state at that moment.” - Michele Williams

“It’s the day-to-day that moves us forward in any plan - it’s not just the big moment. It’s every single day being committed to the goal.” - Michele Williams

“When you put it down on paper, it happens.”  - LuAnn Nigara

More about Peter, Kim, and Michele:

Peter Lang

Peter Lang is a Certified Public Accountant licensed in Rhode Island and Massachusetts.  He is the founder of The Designer CPA, a CPA firm that works exclusively with business owners in the design industry.  He has worked in public accounting since graduating from Providence College in 2002.  After working for several larger size firms in Boston and Rhode Island, Peter realized his true passion was to start a firm that specifically focused on designers.  

Kim Merlitti

Kimberly Merlitti owns KMM Consulting based out of Washington, D.C. Kimberly has 20 years of experience working in accounting for companies such as Swinerton Builders, WRNS Studio and Martin Group. She has her Masters in Accounting from Golden Gate University. Located in Washington D.C. her clientele includes a diverse group of service based companies, with a main focus on small interior design, construction and architectural firms. The goal of her firm is to make the businesses she works for as profitable as they can be by educating them on accounting, cash flow management, tax deductions, project reporting, and business management.

Michele Williams

Michele is the founder of Scarlet Thread and Consulting in Atlanta, Georgia. Today we will learn about Michele’s background which includes the financial software industry as well as a business in soft window treatment fabricator. She also has a BS in business administration, a diploma in Christian life coaching and she is one of the few certified profit first coaches in the United States. Michele was also the communication director and editor in chief of the Drapery and Designs Professional Magazine from 2009 to 2012. She is a member of The Design Collective in Atlanta, the Designers Work Club Council and the Window Covering Association of America. 

Connect with Peter, Kim, and Michelle:

Peter Lang

Website

Instagram

Facebook

Kim Merlitti

Website

Instagram

Michele Williams

Website 

Instagram

Facebook

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What’s new with LuAnn Nigara

luannuniversity.com

Inside Voice, Outside Voice Monthly Virtual Events

http://www.luannnigara.com/cob

Get The Goodies!

For checklists, resources, and extra goodies from A Well-Designed Business sign up for free here.

To Get on LuAnn’s Email List, text the word designbiz to 444999!

Purchase LuAnn’s Books Here:

Book 1: The Making of A Well – Designed Business: Turn Inspiration into Action

Book 2: A Well-Designed Business – The Power Talk Friday Experts

Pre-Order Book 3: A Well-Designed Business – The Power Talk Friday Experts Volume 2

Connect with LuAnn Nigara

LuAnn’s Website

LuAnn’s Blog

Power Talk Friday

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A Big THANK YOU to Today’s Podcast Sponsor:

Revel Woods offers a line of handcrafted and custom curated, premium hardwood and resilient flooring. If you want easy-to-clean flooring for your allergen-free home environment, check out Revel Woods and become a Revelwoods Trade Designer today. Find out more at www.revelwoods.com.

 

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