I use both sides of my brain in my work, and that’s unusual for creative people. Creative people usually ignore the business part of the brain, and that’s why many creative people aren’t great at business management. I’ve been lucky, in that I’m surrounded by successful business people. My parents owned a furniture business, so I learned a lot growing up around that, but I was also taught by some of my best clients. In fact, all of my design clients are high-net -worth individuals and entrepreneurs. I was always curious about how my clients became successful, and in the early days of my design business, I wasn’t shy about asking those clients about how to run a business, and what inspired them.
I remember a specific client of mine who sat me down one day and brought attention to the way I bill. He even explained how to price my services. I was really young at the time (I’ve been in business for about 34 years, so it was probably in my fifth year in design) and he showed me how I could standardize my fee structure and streamline my product costing. He said point blank that I’d have to start valuing my business and my time, and reminded me who my clients were. He said, ‘if you want to be really valued, you can’t be shy about valuing yourself.”
Clients also guided me when I opened my product business, GlucksteinHome. One quite successful client guided me on private equity. He talked about financing the business by myself and resisting the urge to go outside for capital. As a result of that — and great financial advice and management — I proudly own 100% of that business. As my client pointed out, ‘You have enough revenue coming in between all your businesses to finance and grow your business yourself.’
I’ve spoken to students and other young designers along the way. Besides studying design (which many young people don’t seem to think they have to do), I encourage them to work for the best people, so that they can learn the business. So many people want to open their own business, and so many of them want to do it right away, but you need to learn on the job about construction, design, sourcing. Early on, you don’t know how to run a business, although you think you do.
One of the most important things I’ve learned from my clients, aside from business, is to give back. My clients are some of the most philanthropic people in the country. The amount of money that my clients give to charities is extraordinary. I see first-hand that it gives you a balance in life, and I think it’s important for everybody to really make a contribution, no matter where you are in life. I’m on the board of the Children’s Aid Foundation and the work we do there is so important to me. We support children in care — either the foster care system, group homes, homeless youth in the child welfare system. Because of my clients, philanthropy is a growing part of my life.
In the end, although people may disagree, running the business is as important as the creative side. You can’t be creative if your business collapses. I’ve been very lucky to have clients that have taken the time to mentor me and teach me how to build an effective business.
AS TOLD TO
DISCLAIMER: The information contained herein has been provided by TD Wealth and is for information purposes only. The information has been drawn from sources believed to be reliable. Graphs and charts are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance.
TD Wealth represents the products and services offered by TD Waterhouse Canada Inc., TD Waterhouse Private Investment Counsel Inc., TD Wealth Private Banking (offered by The Toronto-Dominion Bank) and TD Wealth Private Trust (offered by The Canada Trust Company).
All trademarks are the property of their respective owners.
® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.
MENTIONS JURIDIQUES : Les renseignements aux présentes ont été fournis par Gestion de patrimoine TD aux fins d’information seulement. Les renseignements proviennent de sources jugées fiables. Les graphiques et les tableaux sont utilisés à des fins d’illustration et ne reflètent pas des valeurs ou des rendements futurs. Ces renseignements ne fournissent pas de conseils financiers, juridiques, fiscaux ou de placement. Les stratégies fiscales, de placement ou de négociation devraient être étudiées en fonction des objectifs et de la tolérance au risque de chacun. Gestion de patrimoine TD représente les produits et services offerts par TD Waterhouse Canada Inc., Gestion privée TD Waterhouse Inc., Services bancaires privés, Gestion de patrimoine TD (offerts par La Banque Toronto-Dominion) et Services fiduciaires, Gestion de patrimoine TD (offerts par La Société Canada Trust). Toutes les marques de commerce appartiennent à leurs propriétaires respectifs.
ᴹᴰ Le logo TD et les autres marques de commerce sont la propriété de La Banque Toronto-Dominion.
免責聲明：本文內之陳述由道明財富 (TD Wealth) 提供，僅供資料說明之用。本文根據相信為可靠的資料匯編而成。圖表僅供解說之用，並不反映任何投資的未來 價值或未來回報。本文資料並不旨在提供財務、法律、稅務或投資建議，衡量個別投資、交易或稅務策略時，應考慮個別人士的目標和風險承受能力。道明財富、道明銀行 (The Toronto-Dominion Bank) 與其聯屬及相關實體對任何資料錯漏或導致的損失或傷害概不負責。道明財富是代表由道明宏達理財加拿大有限公司 (TD Waterhouse Canada Inc.)、道明宏達理財私人全權託管投資有限公司 (TD Waterhouse Private Investment Counsel Inc.) 以及透過道明銀行提供之道明財富 私人銀行 (TD Wealth Private Banking) 和透過加拿大信託公司 (The Canada Trust Company) 提供之道明財富私人信託 (TD Wealth Private Trust) 所提供的 產品與服務。TD Waterhouse Canada Inc. － Member of the Canadian Investor Protection Fund。
® 道明 (TD) 標誌和其他商標是道明銀行的產權。
免责声明：本文内之陈述由道明财富 (TD Wealth) 提供，仅供资料说明之用。本文根据相信为可靠的资料汇编而成。图表仅供解说之用，并不反映任何投资的未来 价值或未来回报。本文资料并不旨在提供财务、法律、税务或投资建议，衡量个别投资、交易或税务策略时，应考虑个别人士的目标和风险承受能力。道明财富、道明 银行 (The Toronto-Dominion Bank) 与其联属机构及相关实体对本文中任何资料错漏或导致的损失或伤害概不负责。道明财富是代表由道明宏达理财加拿大有限公司 (TD Waterhouse Canada Inc.)、道明宏达理财私人全权托管投资有限公司 (TD Waterhouse Private Investment Counsel Inc.)、以及透过道明银行提供之道明财富私人 银行 (TD Wealth Private Banking) 和透过加拿大信托公司 (The Canada Trust Company) 提供之道明财富私人信托 (TD Wealth Private Trust) 所提供的产品与 服务。TD Waterhouse Canada Inc. — Member of the Canadian Investor Protection Fund。
® 道明 (TD) 标志和其他商标是道明银行的产权。