15 Mistakes That Bankrupt Young Firms

Starting a firm is easy. Keeping it solvent is hard. Avoid these errors.

  1. Scope Creep Acceptance: Doing "one more render" without a change order trains the client to expect free work.
  2. Ignoring Cash Flow: Profit does not equal cash in the bank. If net-30 terms stretch to net-90, you cannot make payroll.
  3. Underpricing to "Build a Portfolio": A client who wants a cheap architect now will want a cheap architect for their next project too.
  4. Over-detailing SD: Modeling every mullion in Schematic Design burns fee before the design is even approved.
  5. Poor Consultant Coordination: Assuming the MEP engineer read your updated backgrounds. They didn't. Force coordination meetings.

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