Today, I want to talk to you all about something that I’ve really struggled with in running my wedding and event business. I hope that what I share will help save you from making the same mistakes I did in the past!
I also want to preface this post with, running a wedding and event business is ever-changing and incredibly demanding, yet so rewarding and borderline addicting. I've cried more tears and questioned myself more times than I care to count, so just know that wherever you are in your journey, you are NOT ALONE! I do NOT have it all figured out all the time. However, what I do know is that it's important to have those tough honest conversations with yourself, that growth comes from reflection, and there is strength in numbers.
Earlier on in running my business, I felt like I always had to say YES to every opportunity that came my way. In most cases because of scarcity or I needed the money to keep the business afloat.
Sound familiar? I think a lot of us can relate to this because managing cash flow can be tough when running an often times seasonal business.
The problem was, I found myself saying yes to clients and event opportunities that didn’t serve me and my business in the long run. I said yes to people who didn’t trust and respect me as a professional, nor appreciate the work that we created, and needless to say, definitely were not my ideal clients.
Ultimately, what I discovered is that trust and respect is the core foundation to any successful business, and personal relationship for that matter.
Eventually, I had to sit down, face the facts, and take a long hard look at all areas of my business in order to determine who was the ideal client and what events were a good fit for my business model.
Three Key Areas to Determine Whether The Work You’re Doing is Good for Your Wedding and Event Business
Facing the financial reality
Don’t be afraid to take a really long hard look at what it costs to run your business. Numbers can be intimidating, and it's so easy to lose track of your spending and profitability when you're crazy busy designing and executing events. Guilty as charged! Getting real about your finances will empower you to say YES to all the right opportunities and clients.
What you charge vs. what you make - is it worth it?
Before booking that next wedding or event, I encourage you to compare the time and financial investment vs. the end profitability. What you provide is far more than a service or product-you provide peace of mind and ensure that your clients are guests at their own wedding or event. Not to mention, the work you do for your clients is physically demanding and requires enormous amounts of time and dedication, so receiving fair compensation for the services you provide is well deserved and justified.
How will this opportunity serve my business in the long run?
When you do say yes, make sure it's intentional. When you start saying yes to everything because you're worried about how you're going to pay the bills this month or you're afraid to let people down - and yes, I've been there - I encourage you to take a step back to refocus, regroup and redirect. Fear based decisions are short term solutions which rarely address long term solutions. (more on this later)
When you’re just starting out sometimes you do need to say yes to opportunities that on paper may not at first glance make sense short term. I've invested a lot of time and energy working with clients on events knowing that it would eventually serve my business well in the long term. Remember, running and establishing long term business relationships is a marathon and not a sprint. Trust and respect is earned so loving your clients well and over delivering is critical. Also, getting crystal clear on your companies direction, your personal goals, and identifying your ideal client will ultimately help guide you in creating a strong sustainable business.
Remember that as the President and CEO of your business, you have permission to run your business exactly the way you want to, and don't be afraid to OWN your business. I know it sounds silly but really think about it because I can tell you that the minute I permitted myself to OWN my business, is the day things changed for me. It's an incredibly freeing mental shift, friends!
And guess what else? You’re also allowed to say no to those things that don’t serve you and your business to make room for the things that do. Remember, you are a human being and not a human doing.
In the video below, I share the story of how I learned this lesson the hard way in the early years of running my events and floral business.
Thanks for reading and watching, friends!
If you want to learn more about how to say NO to busy work and start saying YES to the work that sets your soul on fire, Working with me at Modern Day Creative is a great way to do that. Contact me here to get started, and let's work together to create a life and a business you love.