Image: Creative Commons License

I remember when I started my business in 2004.  I was so excited and my only hope was that I would be able to recoup my expenses.  I had set the bar pretty low and I only hoped to break even.  I remember thinking that this was the expectation of all new businesses.  Somewhere I had heard the belief that a small business will lose money for the first couple years, so it’s OK to break even.  While it may be the norm for new businesses to first lose money, setting the GOAL at “break-even” is not a healthy goal. Nor is a goal that even makes sense.

Breaking Even Should NOT be your Profitability Goal

This is like being a baker and saying that, “Well, as long as I don’t burn the cake, then I’m OK.”  That cake might taste like yuck, but this baker doesn’t care… thank god he at least did not burn it.

Begin your business with profitability in mind.  You need to make money in this business.  If you have “breaking even” as the goal for the first couple of years, your business model will be built on a business that cannot sustain itself.  It is very difficult to change this model 2, 3, 4 years into business.

Getting Beyond Break Even

You need to create a sales plan.  You need to identify pricing that matches your market, your experience, your knowledge, your trade and the value you add to the customer.  You need to take into account your costs of sales and your expenses.  And, you need to determine how many weddings or events you have to do in order to make a decent income.  THIS number and ONLY this number should be your sales goal.  If you don’t make it, well that’s OK.  Reexamine your sales plan, readjust your promotional plan and try again.

Start with PROFITABILITY in mind… you business should do more that survive… your business must THRIVE.

Image Courtesy Laurel McConnell Photography

This is a crazy time to be new to the wedding industry.  While “people are always getting married”, there is no doubt that the economy has taken a hit on wedding budgets.  And, while I do see signs of improvement, we still have a ways to go.  Add to this an increase in people entering the market (a natural result of an economic downturn and an upswing in ease of market entry) and we have a sea of change happening.  This makes for some pretty strong opinions about “those with experience” and “the newbies”.

I feel badly that our industry can be harsh on “the newbies”.  I think there is room for everyone in this market, and I feel strongly that the best and the brightest will prevail, for the betterment of our industry.  However, I think there are some sure-fire ways that a new wedding professional can stand out and gain respect from other wedding pros quickly.

The following are ways that new wedding professionals have managed to amaze and impress me…

7 Ways for YOU to WOW(!) others

1 – Answer your email promptly and thoroughly

This seems like a no-brainer, but you’d be surprised how many people fail this simple task.  You should aim to respond to all email within 24 hours.  If you have all-day meetings or events and will not be able to do so, please put an auto-responder on your email account.  REMEMBER: you are trying to not only impress customers, but also other industry colleagues.  Give them the same service that you would a customer.  It’s easy to impress when you do this, because… quite frankly… so many people are not very prompt or thorough with email correspondence.

2 – Do Your Homework

If you are meeting with another wedding professional, do your research.  Go to their website and learn everything about them, be knowledgeable with what they do.  By doing your homework, you’ll have questions and conversation that show you’ve done your work.  You’ll be able to show off how smart and brilliant you are.  It also gives you added confidence which is a natural way to stand out.

3 – Be Visible

It can be a little scary to go to networking functions when you are new.  BE BRAVE!  By being visible, people get to know you.  This makes you more reputable than someone who is not “in the mix”.  It gives you credibility as someone who truly wants to be a part of the industry and not just a hobbyist.  It also shows that you are doing everything you can to LEARN.  Join an organization, attend a seminar, go to a networking event.

4 – Be Proactive AND Be Open

This one requires a delicate balance.  People in the industry want to see that you are strong, confident, and can take charge.  This is not an industry for wallflowers.  However, nobody likes a know-it-all, especially if you are still new to the industry.  If you are working in conjunction with another wedding pro (or a group of pros), be proactive AND be receptive to learn from others.

5 – Use Your Strengths

The only thing new professionals lack is experience… and, this will be gained over time.  Make a list of 20 strengths that you have based on your personality, prior career experience, training, skills, etc.  Use these strengths to build your business.  These are things that will help you stand out.  Many of you have extremely solid experience in other fields: USE it and AUGMENT it.  People will begin to recognize these strengths and you’ll quickly become a leader in the market.

6 – Be Presentable

Your brand is the gut feeling that people get when they come into contact with your business.  Your brand should be cohesive across all platforms of your business: your business card, your website, your personal appearance.  And, your branding should present the core of what your business represents: values, philosophies, services, and products.

7 – Value Your Services and Produts Appropriately

It is so challenging to appropriately price your services when you start your business. On one hand, you lack the experience to charge a premium.  On the other hand, undercutting is BAD for business (yours and the industry’s.)  Please read this post from Shayna Walker on Valuing Your Services.  Do your homework: LEARN HOW TO PRICE.  This may require that you join a professional organization, attend a seminar, or get some coaching.  Pricing is a tricky challenge and it helps to get some education on how to do it right.

What do you think?  How do people manage to amaze and impress you?

To be in business, you must be making money.  You must be profitable in order to have a sustainable business.

How do you plan to create a sustainable business?  What is your plan for profitability?

If you don’t know or are not sure, you need to figure it out or you won’t be in business long.

You MUST be profitable.

For more wedding business insights… read our sage declarations.

Photo Courtesy of Junebug Weddings

It’s somewhat difficult to remember what it was like when I made the big leap into entrepreneurialism.  It was 2004 when I left my job to start mmm… paper, my wedding invitation company.  Lately, I’ve been trying to remember what that felt like.  I’ve been meeting so many new business owners and I want to put myself in their shoes.  I do remember it being scary and exciting all at the same time.  But, I’m trying to remember what was going on at the core of who I was at that point in my life.  How did it all evolve?

I find it difficult to remember what I felt when “Making the Big Leap” because as a business owner, the scariness and the riskiness never go away.  These things just change from year to year.  I’ve learned to live with the nerves.  And, the butterflies fire me up every day to do exciting things.

In hindsight, it’s ironic that I ended up as a business owner who lives every day with risk.  I used to be much more “practical” when I was young.  When I started college in 1993 I purposefully chose a career in accounting because it was sensible and stable.  In my heart, I wanted to be a filmmaker, but I thought the instability of that industry would drive me crazy.  In my junior year in college, I went through a huge heart-churning break-up that made me reassess a lot of my decisions.  I learned two powerful lessons that year that guide a lot of my current day decisions:

• Life is not “stable”.  And, that’s OK!  Nothing is a given.  Don’t take anything or anyone for granted.
• Be present.   Embrace everything that you have today.  Enjoy the ride.

That break-up was the best thing that could’ve happened to me because I stopped being scared of uncertainty.  In fact, I learned to enjoy it.  It’s when I first started to question my very “practical” career choice.  I continued on and got my degree in accounting, but I knew deep down that it was truly not for me.  I went through a few careers turns until one day I came to the realization that I had to do what I had to do.  I had to start my business.

It was then that I felt very powerful knowing that:

• I would never starve.
  This seems silly, but I think I always was scared of not making money as a business owner.  Once I realized that I was in charge of my earning potential, I felt very powerful.  No matter what happened, it was up to me to earn my income… and for that reason I knew I would not go without.  That was a very strong realization.
• I could always go “back” but I only had one chance to go forward.
  If push came to shove and I did not make a success of my business, or did not enjoy business ownership, I could go back to “the workforce”.  It might take me time to find a job, but I would not be unemployed (or starving) for a lifetime.  This still holds true today.
• I could go in any direction as long as I was open to the journey.
  As a small business owner, I knew that I would start my stationery business but that it would somehow lead to many wonderful paths. I wasn’t sure of those paths, but I was looking forward to the journey. (Wow – was I right!)  I co-founded Get Hitched Give Hope in 2008 and last year, Sage Wedding Pros. What’s next?!
• People do not regret action, they regret inaction.
  Look back on your life… do you regret the choices you made, or the ones you did not make?  I regret not having done a semester abroad in college.  I don’t regret any of the good or bad decisions I made in life.

So, I left my job in 2004 and started my business.  Big Leap taken?  Check.  But it didn’t stop there.  I swear to god I sweated bullets over the decision to pay for my first online ad in 2005.  $100/month was a lot to a little guy like me.  And, then I did it.  And, boy am I glad.  That ad brought in 70% of my sales that year.  Next risk was paying for a booth at The Seattle Wedding Show in 2006.  WOW. It was scary to part with $750 for my teeny-tiny booth.  That booth brought in 40% of my sales in 2006.

You see where I’m going with this?  The scariness doesn’t go away.  You just get better at dealing with it.  And, you actually start to thrive on it.  Once you make the big leap, every day is a series of little jumps.

Image Courtesty of Laurel McConnell Photography

This week, we are dedicating our posts to the new people in the wedding industry.  This week industry professionals will share with us 10 lessons for new florists, new invite designers, new wedding planners, and new photographers.  Most of these tips will be helpful for any trade within the wedding industry, so take note!

Barbie Hull is one of my favorite people in this industry.  She is one the most generous you will find.  So, it was no surprise to me that when I asked her to share her life lessons with new photographers, she jumped at the chance.  I’ve been fortunate to work side-by-side with Barbie on Get Hitched Give Hope for the last few years.  My wish for all of you, dear readers, is to be lucky enough to have these sorts of relationships that I have had and continue to have.  Thanks Babs!

10 lessons for new wedding photographers…
by Barbie Hull
Barbie Hull Photography, Seattle WA
9 years in the biz

When I first started my photography business in 2001 I knew close to nothing about running a business. What I did know was that I loved photographing people and that I wouldn’t be happy unless that was a BIG part of my life.

Every day I learn something new & I think to myself (often aloud!) – MAN I wish someone would have told me that 10 years ago – it would’ve made my life SO much easier.   So here are my 10 tips for all of you new photographers thinking about starting your business.

1.  Create & Control Your Online Presence :: Your website, your blog, your advertising – together all of it represents you.  This is what your potential clients will see; make sure it sends the right message. Post only your favorite images – the ones that represent you the work you’d like to do more of.

2. Networking :: Its all about who you know.  Networking is my favorite thing, I could go on for days on this topic – It is about getting out there, learning about people & their unique businesses and best of all learning how you can help them.  That’s right folks, a lesson we learned in Kindergarten – treat others how you want to be treated.  If you help them, they’ll help you!  (A natural response)

3. Be Yourself :: There are a MILLION photographers out there – and its becoming harder and harder to stand out, the best way is to just be yourself!  Let people know you love photographing shoes, or you grew up in an ice village or even silly things like you only eat popcorn with parmesan cheese & hot sauce – these are fun ways to relate with your clients – it gives you things to talk about (because they love it to) or things to laugh at, (because you were ehem… joking about that one on the site.  =)

4. Say No :: Saying no is HARD to do.  Specially when you are a new business and you would REALLY like that check.  But, if what they want is outside of your realm…  Lets say you are a people photographer and your client wants you to photograph a building (architecture).  Sure you could do it, but if you are honest and say, “That isn’t my specialty, but here is the website of a great photographer who can help you.”  – They will not only receive a better end product, but will forever be grateful that you helped them.  They will remember that and continue to send business your way.  (Plus that architectural photographer will most likely send you their wedding referrals as well – an added bonus!)

5.  Say Yes :: (the opposite of saying no!)  There are businesses out there who thrive off of saying no – (the post office!) but if you really want to do something, find a way to say yes!  You can increase your business (and ultimately make more money) if it fits into your business plan.  So you’ve booked a date and someone else calls – you will generally refer this out.  BUT is this an opportunity to hire an associate shooter?  You could potentially grow your business.  Or – are there a ton of new photographers calling you for advice on what to do & where to begin – Hello Workshop!! Don’t limit yourself but instead give yourself the option of saying yes.

6. Share :: Thankfully sharing is becoming a bigger and bigger part of the wedding photography industry.  Here’s what you do: Find a few friends who are near your level of business & meet once a month to talk shop.  Share ideas – help with pricing, packaging, swap client stories to learn from each other & grow together.   Here’s what not to do: Cold call an established photographer to ask for a coffee date & pump them for information.   (It is MORE than okay to call established businesses, but take some time create a relationship and get to know them before asking for industry secrets)

7.  Advertising :: This one is complicated – you have to spend money to make money.  BUT there are so many free ways to get advertising, word of mouth is the BEST marketing tool, so be good to your clients – make them want to tell everyone about you.  Choosing where you do spend your money is also very important don’t advertise everywhere just because it is cheap/free – but do what it takes to get on the sites you are proud of – the ones that will attract your dream clients. (In other words, know your target market & how they spend their time online – that is where you want to be)

8. Personal Projects :: You became (or are thinking of becoming) a photographer because you love it. (Not because its easy money, because easy money my friend… is a myth) So be sure to remind yourself why you love it so much by taking on personal projects.  (some ideas – art shows, blog projects, book projects or art for your wall)

9.  Pricing :: This is a struggle with all photographers – new & experienced.  My advice is: Do what is right for you.  Add up your costs, consider the industry standards, do your research – learn your dream client and price for them.  ** If you are a hobbyist photographer with a full time day job – price as if you do this for a living – because someday you will.  OF COURSE when you start out you may be a little lower, but as soon as you get a few weddings under your belt you’ll get some confidence and raise those prices.  You’ll find that when you work for a decent wage, you’ll produce better work and will feel better about it.

10.  Play Nice, Don’t Steal :: Once again something you learned in Kindergarten.  =) It sounds so obvious – we’re in a creative industry our work is unique and personal but you would be SO surprised of how often this happens.  Although there are a MILLION photographers out there, it turns out it is a small world.  People talk, and google’s search tools will find you if you “borrow” text without permission.  Be honest, be yourself and if you can’t find the best words to describe yourself, your packages & why you do what you do – hire a copywriter. It is worth the cost of saving your reputation.

New Wedding Planners… and even those of you with years of experience… take note!  Emilie Duncan has some great lessons that apply to all.  She sets the record straight: wedding planning is HARD work.  I love her gumption and gusto.  Take it away, Emilie…

10 lessons for new wedding planners…
by Emilie Duncan
Emilie Duncan Event Planning, Columbus OH
7 years in the biz

1.    Get Educated
You don’t know what you are doing at first and that is okay.  Get some education and make it well-rounded.  There are plenty of programs out there that will give you the basics but the best way to learn this industry is by doing.  Shadow an established wedding planner or get into an internship.  The Association of Bridal Consultants has an internship program in place that members can take advantage of as do some experienced, well known planners.  Also, don’t limit yourself to planning only – look into working for a caterer.  Even as a wait staff, you can learn what really goes down at a wedding reception.  Or, help a florist during their busy weekends or work at a dress shop.  Take some photography, floral and cake design classes.  We have to be knowledgeable in all aspects of weddings so we know how we can better help the other vendors do their jobs and take outstanding care of our clients.

2.    Learn to Detach Your Preferences
Consider whether you can take your own opinions and likes and dislikes completely out of the picture.  At some point, you will be called upon to plan a wedding that you just don’t like. Whether it is the colors, the style, the theme, whatever – you have to be able to put aside the fact that you think doves and cherubs are ridiculous and awful and make sure that the bride and groom have the exact wedding that they have always dreamed.

3.    This is not a Glamorous Job
Don’t let the TV shows and movies fool you.  This is HARD work and playing with linens and flowers and drinking champagne is only about 2% of the job.  The rest is hard-core business: negotiating, following up with vendors, making sure that all the day to day details of running a business are in place and so on.  You must have a head for business and head for design.  If you don’t have the business head, have a partner who does.

4.     Certification vs. Licenses
There is no legal licensing in the wedding planning industry.  You may take classes or courses to become certified by that program.  You are not licensed.  Be careful how you present this title as it can be misleading.  (Editorial Note: certain professions are licensed by the government.  Lawyers, Accountants, Doctors all study and take tests to be licensed professionals.  You do apply for your business license with your city or state to have a business.  But, there is no official licensing in our industry.)

5.    Do Your Research Carefully
When doing your market research, reach out to other planners through legitimate channels and they will be willing to help.  Do NOT ‘secret shop’ other planners in your area.  Attend networking events and grow into your industry.  Find colleagues who will exchange information with you.

6.    Be Patient
Everything takes time.  It’ll be several years before you feel comfortable in your business. That’s OK.  Start somewhere and tweak it.  Don’t expect more experienced planners to hand you what they have worked so hard for.  We are happy to share, but we aren’t going to give away our trade secrets.

7.    Find Your Voice
Focus on something unique.  Differentiate yourself.  I actually highly suggest writing your website copy and package information in a creative bubble – write it after NOT looking at anyone else’s site for at least a week or two.  That way your slate is clean and you are starting fresh.  After all, you need to be able to define what you do and without influence from others.

8.    Get Creative
If you have no pictures from events you have done because you haven’t done any events, do not use stock photos. If you use pictures of decor, you are implying that those pictures are your work.  If they are stock photos, they aren’t.  Find a way to do your own images until you can build your portfolio.  Go buy some flowers, get a pretty linen and your best china and create your own tablescape in your dining room.  Or, leave your gallery empty until you can fill it.  Find a newer photographer who is also looking for exposure and stage some shots.

9.    Pricing is a Balancing Act
Your prices should be less than someone who has been planning weddings for years but they should not be so low that you are under-cutting.  If everyone else in town is charging $1500 for wedding weekend/day of coordination and you are charging $250 – you are so far under-priced that it hurts the industry and your business.  Get an idea of what the market will bear and decide on your prices from there.  And, be careful when clients ask for a discount.  Negotiating is one of your jobs as a planner.  If you lower your prices because someone asks you, all you are doing is saying that you weren’t worth what you were charging in the first place.

10.    Trust Your Instinct
I absolutely believe that while there is a wedding planner out there for every couple who wants one, no one is the perfect fit for everyone.  Some people are just not meant to be your client and while that is a hard lesson to learn when you are first starting out, it is a really important one.  When you first start out, you want so badly to get experience and build your portfolio that it is tempting to take on any client who happens to call – even if they are not a good fit for you or your gut tells you to run as far away as possible.  You must learn how to trust your gut when it tells you that someone isn’t a good fit for you.  If the “this person is crazy” bells go off or you don’t like someone the moment you meet them, please know it isn’t going to get any better and it will likely get ugly down the road.  Learning to turn away business is as important as learning how to find the business in the first place.

I always love talking with invite designers.  Being one myself, I feel a kinship connection.  Reading through Heidi’s list of 10 lessons, I smiled.  I even learned a few things that hadn’t occurred to me.  Just goes to show, you can always learn something new.  Thanks Heidi!

10 lessons for new invitation designers…
by Heidi Bartlett
idieh design, Phoenix AZ
4 years in the biz

1.    Create a Brand
Create a brand that represents you and your design style.  Think about how you will apply the brand across the board in regards to packaging, marketing materials, website, business collateral, etc.  Your brand can always be refined down the road, but really focus on finding the essence of your brand upfront.

2.    Network, Network, Network
Don’t be afraid to get out there and build relationships.  And don’t only focus on other invitation designers.  No matter what their expertise, others who own their own business are chalk full of advice and lessons to learn from.  Don’t look at networking for a way of making money or finding more business, but as a way to connect and learn from others who have been through similar experiences, which will, in turn, help your business grow. Remember though, they aren’t there to give you all the answers.  You have to put in the hard work to find the answers on your own, but they might help lead you in the right direction.  (Create an account on Twitter now! Start building invaluable relationships with people you would originally never had a chance to interact with.)

3.    Know Your Client
Create an initial questionnaire that asks questions to help you understand your potential client’s personality and style.  What do they want the correspondence to communicate?  What feeling / tone do they want to convey with their invitations?  The better you understand your client, the better you are able to bring their uniqueness into the design (assuming you do custom work).  Isn’t that what it’s all about!

4.    Create a Timeline
I can’t stress enough about the importance of a timeline.  This allows for clients to see, and hopefully value, the design process.  By listing out each step of the process, the client will see what is expected of them as well as what they should expect of you. The timeline keeps both you and your client on track.  Remember: Brides likely don’t know or understand the invitation and design process.  The timeline is a starting point of helping them to understand.

5.    Find Paper Suppliers
Research to find options for paper suppliers you can turn to for wholesale pricing, bulk ordering, etc.  Look into both local and national suppliers.  One nationally recognized brand that focuses more on correspondence & stationery is Envelopments, but also consider talking to your local printers to see what stocks they offer.  Many times, printers are more than happy to get paper samples for you as well as swatch books. Some paper brands to consider are Neenah, Mohawk, Domtar, Wausau and that is just a few of MANY options out there.  (Note: Some suppliers require a fee to become a dealer of their product.)

6.    Find a Printing Company
This isn’t about finding just a printing company (there are plenty out there), but finding a high-quality and reliable printer.  I’ll be honest.  This might take MANY trials and tribulations before you find an answer to this one. I would bet money that you will have issues with the printers cutting your stock wrong, printing on the wrong paper, and those are just a few of the setbacks that could occur.  Keep this in mind when creating your timeline and make sure to allow for hiccups during the printing process.

7.    Become Friends with the Post Office
The post office and I have a love/hate relationship.  Sometimes, I think they are the devil, while other times we are BFFs. The best advice I can give is to find a branch you consistently use and that has FRIENDLY people on staff. (This might be harder than you think!)  Also, try to avoid going to the branch during lunchtime or right after work, which seems to be their busiest times of day.  In terms of design, always take into consideration the USPS regulations (i.e. postcard sizes) when designing, and remember, standard postage ($.44) will not be enough for most invites.  Based on weight and size, most invitations will need additional postage.  Therefore, be sure to make your client aware of these often “forgotten” additional costs upfront during the initial consult.

8.    Create a Blog
I’ll admit, I’m a newcomer to this as well. My blog definitely is a work in progress, but this is one tip I feel you MUST implement to stay competitive in the industry. Here are a few (of MANY) reasons to start a blog: It allows you to display your current projects without having to wait to post them to your website. You can give advice and tips to inform readers, therefore exhibiting your expertise in your field. It allows readers to get a sense of who you are on a more personal level as you develop your blogging voice. It creates another way for potential clients to find you while searching on the web. And there are many, many more benefits.  In other words, just do it. Blogger and WordPress are a couple sites to check out to begin creating your blog.

9.    Develop a Pricing Strategy
Create a standard pricing strategy that will give you a starting point when pricing each project. Some questions to think about are: How will you charge for custom work? Will you offer packages? Will you have pre-existing designs that clients can choose from? What’s included in your price (assembly, addressing, stamping, sealing, delivery, etc)?

10.    Be Patient
Don’t expect to make money overnight. It takes time to establish yourself and your brand.  It’s not going to be a walk in the park.  With hard work, dedication, and passion your dream can become a reality.

I’m so lucky to know Jean Louise Paquin Allen, owner of Juniper Flowers in Seattle.  She is a true artist.  And, a good friend.  Take it away JL…

My 10 lessons for new florists…
by Jean Louise Paquin Allen
Juniper Flowers, Seattle WA
7 years in the biz

1)      All new businesses need to be seen and heard.
Be picky with where you advertise. As a new business you will be solicited from all angles, some worthwhile some worthless. Ask your friends in the industry what works for them and don’t be fooled by those sales people pressuring you “to act now” for a special deal because most likely there isn’t one.

2)      DO YOUR RESEARCH!
The last thing you want to do is sell the exact same product or design just like the designer down the street. Sure, all art is “appropriated” but take some time to really narrow down your niche and offer something uniquely “you”.

3)      Start small.
Especially in this economy you may want to try doing most of the work yourself. If you tackle all the start up alone, you will see just what areas you excel in and where you need help. When you are ready to hire someone, you’ll know just how to put it out there and get more qualified candidates.

4)      LIST IT…
I am a fan of the list. I still go by my “shop opening/closing” lists from 6 years ago so I don’t forget to do that silly task, whatever it is.

5)      Keep good records from the start.
Find a good accountant and consult them on the best way to input your numbers. I used to bring shopping bags full of my years worth of hand written “daily cash sheets”. I could see my accountant cringe when I walked through the door. Thank goodness for QuickBooks and Excel.

6)      Don’t be afraid to ask for help.
Whether it’s asking for an introduction to that famous caterer or wedding planner or just for some simple advice. You’ll either get somewhere with it or be in the same place, so it can’t hurt!

7)      Make allies with other florists.
It is good to have someone with similar style and business model so you can refer clients to each other.

8)      Know your vendors.
Make a point to meet the people you order your flowers and supplies from. Building this relationship is good for both parties. They will find a loyal customer and you will find someone who (hopefully) stands behind the product they sell.

9)      MORE RESEARCH!
This time in regards to pricing. I’m sure you’ve heard before not to price yourself too low in the beginning. Have a clear answer for someone if they ask you “why does it cost this much?” Remember pricing is regional. If you set up shop in (your city) with (other city) prices, will you survive?

10)     Know your customer base.
Are you looking for volume of “one time customers” or do you want a select repeat clientele? Act, sell, and design accordingly to your answer.

a) what is a business plan?
b) what should a business plan look like?

My friends… we are here to answer these very burning questions for you today.

First, WHAT is a business plan?

Let me start out with an assumption… we are all in business to make a living, right?  We are all aiming to achieve some level of success and sustainability from said business, right?

Well, given these assumptions, the business plan is your ROADMAP to sustainability.

A business plan is a document that is written by a business owner (or its executives) that states the company’s philosophies, goals, and strategy.  It’s typically broken down into 4 parts:

• The Company Objectives: what is the underlying soul of your business?  why are you in business?
• The Marketing Plan: how are you going to sell your goods or services?
• The Operational Plan: how are you going to run your business?
• The Financial Plan: how much money will you earn and how will you invest it or spend it or pocket it?

That’s it!  Pretty simple.  Each of these parts breaks into pieces that you discuss in trying to accomplish your greater goal: to be a SUCCESSFUL and SUSTAINABLE business.

Next, what in the WORLD does this thing look like?

In a nutshell, it looks like a paper you would write in college.  Sorry to ruin any of the mystery or intrigue or high hopes you had for gilded laden paper, ala Canterbury Tales.  But that’s just the plain and simple truth.  It generally runs about 20-40 pages typed, depending on how verbose you are and how elaborate your plans are.  And, it breaks down the above 4 sections, generally answering the questions I posed.

Here are some general thoughts on what YOUR business plan should look like:

• You don’t need a template to do this.  Your business is unique and so is your customer.  It’s best to just sit down, open a Word Document, and start writing.
• Have fun with it.  Get creative.  If writing a 30 page report does not interest you in the least, take out the colored paper and scissors and “CREATE” your plan.  I love The Right-Brain Business Plan.
• This can be as long or as short as you want.  If all you can do is write a 2-page plan, then that’s great!  Just do it.
• Unless you are seeking financing from a bank (a post for another day), this should be for your purpose.  This document is for you to determine how to create a sustainable business for YOU.  So, do it however best suits YOU.

And, here are some examples of different business plans:

• Wedding Consultants
• Florist
• Other Businesses

Here are resources on writing your business plan:

• Sage Wedding Pros’ 13 Step Business Plan – free download
• Sage Wedding Pros’ The Simple Plan workshop – great for collaborating with others
• Small Business Administration – simple resources
• Business Plans for Dummies – nuts and bolts
• Grab a friend and make a weekly coffee date!

The hardest part about doing a business plan is starting it…

Commit yourself to one step.  Once you’ve done that, take the next step.  Soon you’ll be on your way!

This is the story of Dina Eisenberg, a Bridal Coach and Owner of Positively Wed in Boston…

I wanted an entrepreneurial life ever since I was a girl listening to my dad daydream about how to turn his part-time floor cleaning business into a hot dog truck.  I craved the creation and problem-solving that comes with striking out on your own. However, I became a lawyer and didn’t have my first brush with owning a business until I was a newly divorced mom who needed to care for two kids under five.  As my mediation business and children flourished over the years I was glad, but knew I wasn’t entirely fulfilled.

My ‘aha’ moment came last year after I retired from being a corporate Ombudsman, helping employees navigate challenging work lives.  I realized I still loved teaching, an earlier part of my patchwork career path, and wanted to share what I know ( and love) about conflict management.  A mashup of my passion for helping people talk with my obsession for weddings.  That’s how Positively Wed was born.

My challenge after owning several businesses is how to launch in a completely new market: the wedding industry.  Each day I’m excited to learn more, meet new people but most importantly, teach people how to be happier and deepen their relationships.  I’m quite blessed to have a business that can change so many lives for the better and I’m determined to build something special and lasting.

Thanks Dina!

If you want to submit your soul story, you still can.  The contest has passed… but we always love a good story!  Submit here.