How to Avoid a Bad 2024
One of the toughest parts about owning a wedding business is the length in time between when you make a decision and when you experience the result. I see this all the time with the clients we work with…
Here’s one I’m running into a lot right now (and have been for several months):
It’s September, and you’ve had a busy year with lots of events. You’re so in the weeds with next week’s wedding or last week’s edits that you can’t keep up with the inquiries coming to your inbox.
So you prioritize the client in front of you - at the expense of potential clients for next year.
Now, six months later, your calendar for THIS year is light. You don’t have as many dates as you wanted on the books, and you’re scrambling to make enough money.
Here’s another one about expanding with associates:
Same scenario about being busy, but you’re able to keep up with the inquiries. And you decide to bring on associates for your business, because you’re tired of turning away couples or referring them to your friends for free.
Now, six months later, you’ve got 10 events on the books for your associates, including several on weekends when you’re also working a wedding. But the associates you hired are hard to manage, and one of them is thinking about getting out of the industry and won’t be able to fulfill their obligations.
Maybe this one about investing in your business:
You commit to investing in your business so you can level up and raise your prices to book better clients.
Options are:
a) Upgrade your equipment/gear/inventory
b) Get a new space to meet with clients
c) Rebrand your company logo and stylekit
d) Attend a workshop to develop your technical or creative skills
You pick one of these that ends up costing you $10k, and you raise your rates to create a return on your investment.
But no one’s booking at the new, higher prices, and you’re forced to lower them back down to where they were pre-investment.
Here’s a last one about hiring help:
You’re tired of working all the time, so you finally decide to take everyone’s advice and outsource a bunch of work to a VA or part-time employee.
It’s great to have the help and you love getting to spend your time on only the tasks you love and not those you loathe.
You get the annual report from your accountant, and you made way less than you’d imagined - or planned.
What happened? $25/hour for 10-20 hours/week seemed like you could afford it, but over the year it ended up costing you $20,000. Plus you spent several hours each week training and managing the person!
Do you keep the VA/PT team member and eat the costs? Or do you lay them off, and go back to working 24/7?
It’s not easy to create a strategy for your business. After all, your expertise is in your creative or technical craft - not leading or operating a business.
Planning a wedding or photographing one is very different from running a company. Stationers, floral designers, videographers, DJs…you all are great at doing what you do, but unless you
Went to school for business, or
Read a bunch of business books
Learned from a successful business mentor or coach
Worked for several years in a leadership role for another business
it’s highly likely you’ve winged it as a business owner.
I’d say 95% of the wedding pros I know are faking it as they try to make it. It’s no wonder why it’s so hard to find success!
As you gear up for the upcoming busy season, here are three tips to keep in mind as you think strategically about your business:
#1 - Don’t make big decisions when you’re busy
It’s easy to make a bad choice when you’re not thinking straight. And that’s what happens when you’re overworked, overwhelmed, or over it. As in, you’re burned out.
When you’re going through stressful situations in life, it’s easy to respond with knee-jerk reactions. We say things we don’t mean. Or do things we regret later. The fallout with personal circumstances can often be corrected with an apology.
But not in business situations. When you make a long-term commitment in the heat of the moment, it can impact outcomes for months or years.
Instead, take a moment to write down or share with a trusted friend how you’re feeling. Do what you need to make it through the current dilemma. And hold off on any lasting changes or strategy shifts until you’re in a good headspace.
#2 - Don’t start new projects when you’re busy
Many of you are visionaries. You’re creative types. You love to dream big about the future. That’s part of what makes you great at your job, and also why you like being your own boss.
It’s fun to do new things. I know, because I’m filled with them. Coming up with new ways to help wedding pros is what I love most about my job!
But you don’t have to take action on every idea that pops into your head.
Katy, my wife and business partner, is the “string” to my “kite.” I tell her a new idea, and she says, “That’s great, Sam. Why don’t you put that in your idea book!” She says it so much that it’s turned into a running joke between us.
And I actually do have a list of ideas for our business to help serve client better. But I have to finish the projects I’m currently working on before I get to start those new ones.
#3 - Create space now for a break later
When you reach a certain point in your business, success is measured by the number of vacation days you take, not the number of weddings you book.
Even if your goal is to book more dates, you should always set aside time now to take a break later. You’ll need it to catch your breath, to re-energize your batteries for clients, and to have something to look forward to when you’re at your busiest.
For example, as you read this I’m trekking across England. Seriously. I’m two weeks into a 200-mile coast-to-coast hike from St. Bees to Robin Hood’s Bay.
How’d I make it happen? I planned this hike 18 months ago. Bought my flights and set down dates 11 months ago. Made reservations for rooms along the route seven months ago. Started physical training three months ago. Prepared our team and clients for my absence last month. Wrote this newsletter on March 29th.
I’ve worked decades to put myself in a position to take time off like this, and maybe your idea of vacation doesn’t look like mine. But the points are the same:
You NEED (not want) you NEED regular breaks (for more than just a week)
You must block off the time months in advance and book business around it
Reverse engineer a timeline and resources to make it happen
Next steps for business strategy
These are three recommendations for what NOT to do during the busy season. What do I suggest you do when it’s time to work on your business? To create a strategy that leads you to your version of success?
Join us in Costa Rica this November or December at the Shift Retreat. It’s a business retreat for wedding pros who want a clear direction for 2024, and an action plan to get there.
It’s part annual off-site planning session, part luxury vacation - and all good times. We’re already halfway filled with a great group of people for each session.
We’d love to have you join us.