Thank you for the fantastic interview. Sorry it had to end.

more generic business advice please

No only that but they are also taught that because of this money isn’t important, shouldn’t be a goal, and many other copes.

Tremendous guest. Great wisdom and advices.

Walk the dog 😊

42.05 The private sector already gets quite enough advice from academia; their ability to spot second order consequences only after they've occurred is quite spectacular.

This such a valuable insight!

Owning a business and not prioritising profit is like owning a car and thinking fuel isn't important. Money isn't important, but it's right up there with oxygen.

22:29

awesome, super inspiring❤

Amazing content as always

This episode really hits home! It's fascinating to see how architects can reclaim control over their fees and navigate the challenges in the industry

Amazing 😮

Not anymore!

This 'ideal' course sounds like the courses at Bath University 1978-1984. What happened ?

Good interview

Great interview

So much stupidly. It is an insult to marketing watching this video.

😅

30k pounds per year with 5 years of experience?!?! Oof, i thought the US was bad but at this salary it would make more sense to deliver pizza.

Great to hear this conversation being opened up.

The question of whether to regulate or not is now occurring in the UK within the field of Archaeology, which is not currently regulated and which is today now suffering the same loss of status as Architecture suffered in the 1980s. It is a really interesting debate and does present some benefits (so long as the loop-holes are closed, which is not the case in Architecture - you can perform all the functions of the Architect, just without using the title - a crazy situation). However, it seems to me that other fields have a lot to learn from Architecture, and the architectural method, including Heritage in which the Archaeologist normally assumes control. How many times did you hear a commentator of a failed project say "You should have employed an architect!". It happens all the time. This shows there is a role for the Architect - not just in architecture! Business-planning, politics, anything where you're developing a project needs these design and project management tools and skills.

Amazing 😮❤

Thanks ❤

A really important conversation.

I loved this conversation. And Paul's sense of humor! Thank you for the great episode.

Oh why oh why is men's smart-casual always blue, black or brown? How dull!

Very good perspective

Make beauty cool again because Sustainability is a function of making a space beautiful… and loved ❤

This guy needs a monthly blog-spot.

OK thanks kamala

Kool stuff

My course at Bath University 40 years ago was extremely practical and I had amassed 2 years 'practical training' before passing the BSc and Part 1 in the four year 'thin sandwich' course. Perhaps the universities need to be more concerned about education and learning, rather than profit?

An episode dedicated to the business structures that underpin this model would be incredibly helpful - silo risk, insurance, etc.

I love Alberto, one of my top 3 references when i design! Please have Manuel Aires Mateus on the podcast he would be totally up for it! ;)

Many Clients do not understand a firm's hesitancy to sign on/start new projects in the late fall. First there are always hard presses with existing projects to get submittals / revisions in to city departments before end of year (or before city staff goes on vacation). Then there is Thanksgiving & Christmas time pressures. While planning and marketing should be year round, January really is the often the best time for this as well as any hiring and also responsibly preparing for taxes well before February. Taking on projects in the late fall generally will spill over into January and negatively impact these much needed activities.

“Minimize the adverse impact of external factors”

Thanks Jeff for sharing your experience!

The 3 minute into could be condensed to drive more engagement, especially in the current fast-pace creator economy. Excited to get into this episode!

👏🏾Thank you guys for this episode. 📝 See my notes below. 03:32 - How did you start the practice? ↳ started 2012 part-time delivering home extensions & planning applications. ↳ quit the main job 8 months later to focus on full-time 04:42 - What type of work were you doing? ↳ year 1 was primarily domestic single houses projects in west London ↳ wanted to do multi-unit free-standing residential projects 05:43 - How did you get involved in the multi-unit residential projects? ↳ repetitively cold call a developer who was working on their first big project ↳ Developers are typically pressured for cash before securing planning permission ↳ pitched a joint venture where JCA would invest some of their planning fees into the project 06:53 - How were you able to craft such a compelling offer? ↳ Most architects research architecture, but JC tends to research property investment + funding structures ↳ The real client tends to be the investor who is funding the developer/project 07:37 - How did you get involved in the multi-unit residential projects? ↳ The developer brought 2nd site that was designated for a 5-story building ↳ JCA recommended going for 15 story building ↳ The architectural fees on this type of project are about £400-500K ↳ JCA will invest our fee within the development, therefore, no planning = no fee* ↳ * = The fee is the shares (SPV) within the development, therefore, no planning means a reduced fee 08:34 - Why is this a better model than being the developer yourself? ↳ 1. Being a developer requires a different skillset ↳ 2. Being a developer is competing with your client ↳ The main reason for JV + fee sacrifice is to win multi-unit residential projects faster ↳ projects with construction values of £50m ↳ The benefit for the developer is saving £500k up-front ↳ The benefit for the developer is having the architect's interests aligned with theirs ↳ The benefit for the developer is getting a true appraisal on all the sites they see 11:51 - how do you analyze a project’s viability? ↳ JC has developed its own viability spreadsheet ↳ cost of site ↳ cost of fees ↳ assumed lending ratio ↳ assumed cycle length + interest rates ↳ output an internal rate of investment (ideally between 20-24%) ↳ JCA would run their own appraisals that are separate from the developers ↳ JCA would apply appraisal outputs to architecture ↳ E.g - saleable square footage needs to be at least XYZ to achieve IRRs of 20%≥ 15:08 - How did you make the business work when sacrificing the front-end fees? ↳ domestic single-house projects were funding the multi-unit projects ↳ Year 1 - stockpiled cash in the business ↳ took on lots of domestic single-house projects ↳ JC remortgaged their home ↳ 2no JV schemes + 40 domestic single houses projects “at the standard 12%” 16:20 - What is the deal structure for the projects you are working on now? ↳ 12no projects which are 40≥ units ↳ 30% are joint ventures (built to sell) ↳ 70% are risk/reward (built to rent) ↳ JCAs specialism is the build-to-rent sector ↳ most build-to-rent projects will be sold to a pension fund ↳ Therefore, the more diluted the SPV gets, the harder it is to sell to a pension fund ↳ risk/reward fee is more suitable for build-to-rent projects ↳ 50% fee + reward on planning approval ↳ the profit is made on planning approval 18:12 - how do you embed this culture of business within the practice? ↳ it has been a bit of a learning curve, tried to do CPDs ↳ recently setup Jo Cowen Capital which invests in developers ↳ This enabled staff learn about property investment through promoting JCC ↳ the traditional approach to architecture is over (especially for the Tier 3 firms) ↳ Tier 3 firms need to diversify via service offers, client engagement, creating work streams, bread & butter ↳ JCA new service offering = Jo Cowen Planning ↳ JCA bread + butter = 40 domestic single houses projects 22:00 - can you please explain Jo Cowen Capital ↳ JCC started as an equity introduction platform ↳ Investors: Too much money, not enough investment opportunities ↳ Developers: Too many sites, not enough money. ↳ JCC would pair up Investor with Developers ↳ Off the back of the introduction, JCA would win the design project ↳ Some of the JV deals outperformed expectations ↳ This led to high-net-worth clients (from the single domestic houses projects) being interested in investing ↳ JCC evolved into a club of 10no HNW investing £3-5m looking for assets to invest in. ↳ The objective is to fully utilize JCA ↳ JCA originates the deals ↳ JCC funds the deals ↳ JCA designs the building ↳ JCC improves the relationship with developers by: 1. provides access to cheaper capital 2. provides expertise in getting planning approvals (strategy) 3. delivers the design project (execution) ↳ All architects should think about how we can serve our clients better. ↳ What other service offerings shall we have? ↳ Don't necessarily have to source developments + funding (it took 5 years to do this) 27:30 - Architects often think they are paid at an hourly rate which is a vulnerable business model ↳ JC disagrees with time charge as the value created on projects is much more than £300/hour ↳ Assume architectural fees of 5% of construction value ↳ 30% of architectural fees allocated to planning approval ↳ there are cashflow issues before planning approval ↳ instead of reducing fees, charge 15% at planning & agree to an additional fee if the project ends after planning approval 30:14 - Tell us more about the 2no streams of work ↳ 2 types of business 1. new business 2. repeat business (most profitable) ↳ JCA has grown from 0 - 40 staff via 4-5 repeat clients whose projects have gotten bigger 35:15 - what makes a successful leadership team? 40:18 - do you find that the younger staff are more entrepreneurial-minded? 42:17 - what is next for JCA?

Awesome video, I just start my professional career as a young architect almost one year ago, business in architecture is really abstract for me, this overview about the different type of architecture business practice is really relevant. i was really unaware of architecture consultant and advisor 38:13 however do you have other example or practice which provide this type of services

Amazing 😮❤

Absolutely correct……

Clickbait titles are so annoying... she doesn't even talk about personal style until 80% of the way through, and it's pretty brief. Give it an honest title if you want anyone to come back!

No jobs here for the working man. Anymore😢. To late

Haven't watched the vid cause I'm time poor, but gut feeling should always be listened to. Fear can sometimes mask as it, but passing by over that, gut feelings rarely go away. Not listening to it is a sure way to get yourself f'd over later.

As a recent Master’s graduate in architecture, I couldn’t agree more with this. It’s frustrating how little our education covered business, finance, and development-areas that are crucial if we want to truly shape the built environment. I left school feeling like I had all the tools to design incredible buildings but none of the knowledge to actually bring them to life. That said, there’s definitely a growing energy in the architecture community to break free from these limitations and carve our own paths. I’ve personally started diving headfirst into development, consuming everything I could about the process-from zoning to financing to market strategies. It’s been empowering, and eventually, I was able to partner with a developer and kickstart residential projects. Architects have so much more potential than just drafting someone else’s vision-we can create our own. The future of the field feels like it’s shifting toward architects who are also developers, and honestly, it’s about time. Let’s keep pushing for change and proving that we can lead the charge in shaping cities, not just designing them!

NICE

I did not see part two of this interview. Is it possible to get it?

He is authentically himself and making waves with his wonderful values. Inspiring