{"id":776062,"date":"2025-02-24T08:30:51","date_gmt":"2025-02-24T08:30:51","guid":{"rendered":"https:\/\/www.architectsjournal.co.uk\/?p=776062"},"modified":"2025-02-24T09:10:13","modified_gmt":"2025-02-24T09:10:13","slug":"why-architects-who-want-to-succeed-must-focus-on-finance","status":"publish","type":"post","link":"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance","title":{"rendered":"Why architects who want to succeed must focus on finance"},"content":{"rendered":"<p>I don\u2019t recall where I first heard the phrase \u2018the elephant in the room\u2019. It\u2019s a curious and slightly ridiculous phrase \u2013 how could an elephant fit into a room, let alone be ignored? However, as I reflect on my life, there have been several occasions when I have indeed ignored the elephant in the room.<\/p>\n<p>At 18, it was clear to me \u2013 and everyone else \u2013 that I wasn\u2019t working hard enough for my A-levels. I ignored the elephant in the room and received the results I deserved. A few years later, I ignored the fact that my long-term partner and I wanted completely different things; we split unceremoniously a year later. Almost a decade later, I had to shut a construction business because I ignored the fact that over 70 per cent of our turnover came from one client \u2013 who then went bust.<\/p>\n<p>You see, ignoring the elephant in the room is easier than you think. It\u2019s easy to focus on what you <em>think<\/em> might happen, what you <em>want<\/em> to happen, rather than looking that elephant right in the eye and accepting the truth of a situation, however unpalatable.<\/p>\n<p>I\u2019ve sat in many planning, placemaking and design meetings where entire teams have ignored a large, looming, inescapable truth parked in the corner of the room. We speak of beauty, worthiness, and necessity but somehow never really talk about the money. A board member of a large development firm I was working with once emailed me the night before a two-day masterplanning workshop, saying: \u2018Try to keep the team out of the long grass.\u2019 He was right\u2014it\u2019s very easy, especially when you are waist-high in long grass, to ignore that bothersome elephant.<\/p>\n<p>It was more fun to drift off into discussions about social justice, community cohesion, art, culture, education, wellbeing, and of course, architecture. And although we did have a few dalliances in the long grass, we never forgot to address how our plans would be funded, who would fund them, and how they would deliver economic value to the scheme.<\/p>\n<p>I\u2019ve written extensively in <em>The Architects\u2019 Journal<\/em> for almost six years about the housing crisis \u2013 its causes, its victims, and potential solutions. But re-reading my own writing, I realise I too have sometimes ignored the elephant in the room: nothing will be built unless we make it economically viable. Beauty, need, desire, architectural relevance \u2013 none of that is enough if the money does not work.<\/p>\n<p>So, design teams need to think more commercially. The country has been battered by Brexit and trampled by Covid. It is reeling from inflation and political instability. The elephant has never been bigger nor the room smaller. Recently, a friend told me about a building their company had just completed \u2013 an affordable housing scheme, which, if it were started today, would be unviable.<\/p>\n<p>Our buildings, cities, and masterplans need to be well-designed, beautiful, and provide opportunities for all. It might feel crass to talk about money, but it\u2019s essential that we do. I know I\u2019m being a little trite here. Architects are aware that their schemes need to be paid for. However, with the ambitious goals set by the current government, it has never been more important to ensure we understand how our designs add value \u2013 the best architects and developers have always got this right.<\/p>\n<p>There <em>is<\/em> money out there. There <em>are<\/em> developers and funders who want to build and support great schemes. But they are not charities, and right now, project viability is under immense strain, which means schemes, no matter how good, may not be built.<\/p>\n<p>I don\u2019t believe that economics should <em>drive<\/em> the design process, but it <em>must<\/em> be allowed to influence it. It\u2019s all too easy to dismiss the importance of profitability, revenue generation, and financial feasibility \u2013 to ignore the elephant in the room. I, for one, have actively engaged with my finance colleagues. In many cases, they\u2019re the first people I want to hear from. Their input is invaluable, because they help us to stay out of the long grass and acknowledge that nearby elephant.<\/p>\n<p><em>Kunle Barker is a property expert, journalist and broadcaster\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I don\u2019t recall where I first heard the phrase \u2018the elephant in the room\u2019. It\u2019s a curious and slightly ridiculous phrase \u2013 how could an elephant fit into a room, let alone be ignored? However, as I reflect on my life, there have been several occasions when I have indeed ignored the elephant in the &#8230;<\/p>\n","protected":false},"author":81429,"featured_media":776088,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"ep_exclude_from_search":false},"categories":[745],"tags":[1687,1491],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why architects who want to succeed must focus on finance<\/title>\n<meta name=\"description\" content=\"Architects who do not focus on financial viability are ignoring the elephant in the room, argues Kunle Barker\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why architects who want to succeed must focus on finance\" \/>\n<meta property=\"og:description\" content=\"Architects who do not focus on financial viability are ignoring the elephant in the room, argues Kunle Barker\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance\" \/>\n<meta property=\"og:site_name\" content=\"The Architects\u2019 Journal\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-24T08:30:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-24T09:10:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.rt.emap.com\/wp-content\/uploads\/sites\/4\/2025\/02\/24090952\/shutterstock_644304715-1024x683.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Kunle Barker\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kunle Barker\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance\",\"url\":\"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance\",\"name\":\"Why architects who want to succeed must focus on finance\",\"isPartOf\":{\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#website\"},\"datePublished\":\"2025-02-24T08:30:51+00:00\",\"dateModified\":\"2025-02-24T09:10:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#\/schema\/person\/08ac72c428ca64c2d1bd9a4629280d4c\"},\"description\":\"Architects who do not focus on financial viability are ignoring the elephant in the room, argues Kunle Barker\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/news\/opinion\/why-architects-who-want-to-succeed-must-focus-on-finance#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.architectsjournal.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why architects who want to succeed must focus on finance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.architectsjournal.co.uk\/#website\",\"url\":\"https:\/\/www.architectsjournal.co.uk\/\",\"name\":\"The Architects\u2019 Journal\",\"description\":\"Architecture News &amp; 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