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business blueprint | Jul 9, 2025 |
How to thrive in uncertain times

Over the course of my decades in business, I’ve observed a recurring—albeit unpredictable—pattern of challenges affecting the interior design industry. Every two to three years, something shakes the ground beneath us.

Just as we were launching what would become Pearl Collective—an interior design business consultancy—while simultaneously running my own design firm, the 2008 financial crisis hit. Triggered by the collapse of the subprime mortgage market, the crisis led to a global recession. Many design firms closed during that time; those that remained were able to survive because their target clients were less affected, or the firm barely managed to stay afloat.

Starting a new business during such an inauspicious moment, paired with a lack of understanding of the complexities of running a virtual, tech-driven operation, was a shock—one that was compounded by forces entirely outside our control.

Imagine the excitement of hosting our very first three-day virtual event for nearly 300 attendees (using audio only, since Zoom hadn’t yet been invented). The content received rave reviews, but the moment the event ended, we were left asking, Now what? How do we keep going amid a historic financial meltdown?

The next few years were tough, but we solidified our vision for building a coaching and consulting practice. One pivotal lesson was selling our first full program before we finished developing it—a “backward” approach that successfully allowed us to tailor our offering based on real client needs.

On July 30, designer Sara Malek Barney equips designers with the critical skills to streamline their sourcing process as a means to enhancing profitability without sacrificing integrity—it even includes a discussion on the oft-overlooked topic of markups. Click h ere to learn more and remember, workshops are free for BOH Insiders.


    

In those early days, we constantly tested new ideas. We learned new tech tools almost daily, even though marketing to an industry that was largely tech-challenged was unpredictable and frustrating. (At the time, few designers had websites; one of our colleagues taught classes on how to use a computer and a mouse and organize digital files.) After years of trial and error, Pearl Collective found its stride. Our team learned to ask clients what they needed, then built products and services to meet those needs. Eighteen years later, we’re still evolving.

Every day brings a new reality. But one thing remains the same: Constant innovation isn’t optional—it’s essential. Sometimes our ideas worked brilliantly. Other times they didn’t. But we kept going, knowing courage was the price of entry when facing the unknown.

I share this story so you can learn from my experiences about what to do (and what to avoid) during challenging times.

10 Common Mistakes to Avoid in Challenging Times

  1. Letting fear or other mindset blocks stop you from investing in or growing your business
  2. Starting a business without a well-considered business plan
  3. Running a business without a clear strategy, including contingency plans
  4. Operating without a three-year financial model based on conservative estimates
  5. Lacking financial reserves to cover at least six months of expenses
  6. Marketing to everyone (you can’t be everything to everyone, so don’t spend time and money trying)
  7. Postponing sales conversations—if you can’t sell yourself, you won’t earn much
  8. Delaying hiring for fear of your pipeline drying up
  9. Freezing or retracting due to fear, rather than focusing on forward motion
  10. Delaying your pursuit of expert advice because you’re unsure of ROI—this is often when you need it most

It’s been said that many millionaires were created during the Great Depression. Those who succeed are the ones who forge ahead with courage and determination. Action is the catalyst for success. Inaction invites decline.

10 Smart Strategies for Uncertain Times

  1. Assess your current reality. What is your year-to-date revenue and net profit? What about your future pipeline (cash flow forecast)? How many months of reserves do you have saved up—both to cover operating expenses and have excess cash?
  2. Cut unnecessary expenses. Take a look at line items like business travel expenses, working lunches or software subscriptions that aren’t totally essential.
  3. Double down on marketing. You do have a plan, right? Now is the time to keep at it.
  4. Overdeliver to clients. Think: exceptional communication, thoughtful gifts, custom renderings, exclusive finds from your travels, or hosting a private event for their friends.
  5. Document your client-facing processes. Consistency builds trust and brand value. There’s no surer way to consistency than writing down your best practices.
  6. Train your team on exceptional service. Handwritten notes, birthday flowers, or a personal phone call instead of an email can go a long way. Those touchpoints may come from the principal, but that ethos should be what the client experiences in every touchpoint with your firm.
  7. Ask current clients if they’re ready to expand their projects. You never know who’s feeling expansionary.
  8. Reach out to past clients to engage in future work. The nudge from you may be the sign they needed to get started.
  9. Ask for referrals. Your happiest clients will be your biggest advocates. Let them know that you want them to spread the word.
  10. Give referrals. Share business with other influencers and clearly define your ideal client so they can return the favor

Ready for Bold Moves? Consider These Revenue-Building Ideas

  1. Buy a property for your business. Not ready to operate out of the whole space? No problem. Lease the extra square footage to allied professionals.
  2. Travel to markets and trade shows. Industry events like High Point Market will help you discover exclusive resources and negotiate better pricing with your vendors.
  3. Diversify your business model. Take a look at your offerings and think about what expansion might mean for your firm: Could you develop your own product line or license your designs? Expand into commercial, hospitality or multifamily work? You might be able to partner with a developer for a branded property, offer branding services to builders and developers, or expand into the second-home or resort market. Or maybe you monetize your social media following through sponsorships, acquire a competitor, or collect finder’s fees for referrals you can’t take on. That studio you’ve purchased? Rent it out for private events.

The key to success in uncertain times is a clear plan followed by relentless execution. This is not the time to retreat or wait it out. While your competitors pull back, you can step forward.

You have a choice: Either creatively adapt your business to today’s challenges or accept inevitable decline. While uncharted territory breeds uncertainty, a combination of innovation, creativity and massive action leads to far better outcomes than doing nothing.

You can thrive in uncertain times. But it takes innovation, decisive action and the courage to lead. Now is the time. Ready to get started?

For more information on the state of the design industry today and how to position yourself for success, download the 2024 Interior Design Business Survey report, which is produced by Pearl Collective, Interior Talent and Business of Home.

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Gail Doby is co-founder of Pearl Collective (formerly Gail Doby Coaching & Consulting), an interior design business consultancy that helps designers, architects and other creatives increase their profitability. Doby ran her own design firm in Denver for nearly 20 years and has a degree in finance and banking. Since 2008, she has been helping designers scale their businesses profitably and reach financial freedom. As a coach, mentor and business transformation specialist, she shares innovative ways to overcome the roadblocks, challenges and detours creative entrepreneurs face. She is also the bestselling author of Business Breakthrough: Your Creative Value Blueprint to Get Paid What You’re Worth. Her goal is to empower design industry clients to differentiate themselves, drive measurable results, achieve business projections, and create personal satisfaction through game-changing strategies and business practices.

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