The Designing Your Business Masterclass series was created by acclaimed architect and business consultant Douglas Teiger to help fellow architects and engineers run their firms more profitably while maintaining a healthy work-life balance. Douglas Teiger grew from a solo practitioner to become managing partner of his 30+-person firm and later sold his firm to being Teiger Consulting.
On the third Wednesday of every month, Douglas Teiger dives deep into an essential topic that will strengthen the profitability of your firm and make it sustainable for growth in the years to come.
The goal of this masterclass is to implement systems and processes that increase profitability and create freedom, allowing you to get back to the areas of your practice and your life that you love.
Founder | Teiger Consulting
Douglas Teiger, FAIA, graduated from Cornell University, in 1982 with a BARCH. He opened his own firm in 1989 and grew from a solo practitioner to become managing partner of his 32-person firm.
In 2009, Douglas received a Master’s in Spiritual Psychology from USM, where he learned tools and skills he is sharing with his staff and clients. His ability to effectively streamline the operations allowed for more time to be spent on design and project research while creating a culture that fosters a holistic approach to a work life balance.
In 2017 he became president of the AIA Los Angeles Chapter and is currently serving on the AIA National Strategic Council.
In 2019 Douglas transitioned out of his firm elevating three associates to partners, sold his shares and started his next venture, Teiger Consulting.
Douglas’s mission is “Live an inspiring balanced life” whether it involves family, coaching, consulting, painting, or sports. “Love what you do and do what you love”.
Management Through Measurement: Essential KPIs to Optimize Your Firm
Part 8 of the Designing Your Business Masterclass Series
Wednesday, August 18th 1pm ET | 10am ET
A real-time view into the activity of employees, projects, and firm financials through dashboards, reports, and scorecards is required to maintain a profitable practice. Tracking this information shows trends over time and provides critical information you need to adjust your business decisions around staffing, business development, and even firm culture. During this course, you will discover the most important KPIs to look at and learn a system for tracking this information month-over-month to reflect your firm's trends.
Firm and Project Profitability: Understanding the Difference and What It Means for Your Bottom Line
Part 7 of the Designing Your Business Masterclass Series
Originally aired on Wednesday, July 20, 2022.
There are many ways to analyze profit and understand profit. Typically, principals and accountants alike look at how much money is in your firm’s bank account at the end of the year. In this webinar, we will go much deeper and review the metrics and tools necessary to understand both your project profitability and your firm profitability. We will define a critical KPI, the cost rate multiplier, and review the difference between utilization rate and efficiency rate. We will also define what your billing target per month should be in order to reach your goals.
Strategies for Successful and Profitable Project Management
Part 6 of the Designing Your Business Masterclass Series
Originally aired Wednesday, June 15, 2022
Great project managers are sometimes underappreciated and overlooked. They are not the architect who designs the building or produces the drawings, but they are an integral role for any A & E firm. Most small and medium firms rarely have proper training or mentorship for project managers. In this course, we will discuss an overview of the skillset and training necessary to hire or manage an effective project manager.
Understanding Runway and Burn Rate: The Key to Cash Flow
Part 5 of the Designing Your Business Masterclass Series
Originally aired Wednesday, May 18, 2022
Gross burn rate is an important thing to measure. Burn rate is the pace at which a firm is running through its capital ahead of it generating any positive cash flow. It allows you to answer the question: “If we don’t sign another project, how many months can we stay in business? How long is our runway?” This webinar looks at the key performance indicators associated with your runway and burn rate and teaches you how to estimate your projected income.
Building a Better Proposal: How To Get Clients To Say Yes
Part 4 of the Designing Your Business Masterclass Series
Originally aired on Wednesday, April 20, 2022
The proposal is a critical part of the client onboarding process. While there are multiple types of proposals, there is never just one that works for every project. In this course, we review what is included in the proposal, the difference between a proposal and contract, and terms and conditions to turn your proposal into a contract. We also highlight the importance of linking to your project setup and the valuable benefits of using AIA agreements.
The Art of Estimating Fees: Creating a Simple Process for Success
Part 3 of the Designing Your Business Masterclass Series
Originally aired on Wednesday, March 16, 2022
Ready to start mastering fees and better understand what they mean for your bottom line? To do so, let’s start at the very beginning—when you receive a request for a proposal. In this course, you will learn how to define your project scope, develop a Rough Order of Magnitude of construction cost, and estimate your project hours. We’ll finish off with how fees are broken down and explore a simple system to improve your overall project profitability.
The Foundation of Financial Reporting: How to Organize Your Chart of Accounts to Understand Firm Profitability
Part 2 of the Designing Your Business Masterclass Series
Originally aired on Wednesday, February 16, 2022
The Chart of Accounts is foundational to understanding your firm's finances. In this course, we will review basic terminology used in accounting, analyze a typical Chart of Accounts that will work for most small firms, and show how this Chart of Accounts can assist with understanding your flow of money and help to create your budget for the coming year.
Time Management Strategies To Increase Your Firm's Profitability
Part 1 of the ‘Designing Your Business’ Masterclass Series
Originally aired on January 19, 2022
In architectural and engineering practices, time is money. Without proper tracking and allocation of time there is no way to understand and manage profitability on your projects. In this webinar, we will discuss time tracking via buckets, calendar blocking, and a work-life balance.
ABOUT BQE: A PROUD SPONSOR OF THIS MASTERCLASS SERIES
BQE Software develops innovative business management solutions for architecture, engineering, and other professional services firms. Its flagship product, BQE CORE, streamlines project management, time tracking, billing, accounting, and other business processes on a single platform. Every day, over 5,000 customers use BQE Core to get clear visibility and control over their projects, productivity, and profitability – all in one place. Learn more at www.bqe.com.