It’s easy to view building a business like gambling. Everything is a gamble; the difference between businesses that make it and businesses that fail often comes down to whether you took calculated risks or if you just jumped into the unknown. As Paul B. Brown points out in his article on Forbes “You need to know how much you are willing to lose before you even start thinking about starting something new.”
No one knows what they are getting into when they start a wedding business. You jump in with a general idea and then have to start planning the steps of action you need to take to make your business a success. When you come up with a idea don’t ever just jump in and start it before you’ve thought through both the benefits if the plan works, and the consequences if it doesn’t. Does your plan have an escape shoot just in case? If it goes badly will it ruin your business? Are you risking more money than you can afford if it doesn’t work? Thinking these things through before you start something new reduces the risk and should keep you from accidently sinking your own ship allowing you to move on to something else that does work if your plan fails while at the same time enabling more of your plans to work.
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Like it or not, sometimes problems in a wedding business come directly from the top. Resolving those problems is what builds a successful business, while allowing them to fester can quickly destroy your business. When you are running your own business it is crucial to take time at least twice a year to analyze your attitudes towards your work and the brides you work with, as well as habits which you have developed.
Starting a wedding business can be overwhelming, especially if you are a solo-preneuir. There is ton that you have to do and it’s easy to start feeling like there is no way to keep up. Empathize with the feeling? Part of what may be confusing you is the belief that you can make a list over everything that needs done, and believing that you can complete it in a day. Like it or not, when you are the only one running your business things are going to take time. You don’t have an assistant to take phone calls and run errands while you focus on the actual planning or art side of things. It’s just you.
It’s been said that failure is easy, but success, that is what is hard. It might not seem like this is true, but as anyone who has found true success can tell you, getting there took a lot of hard work. In fact when it comes to business there are two main factors for failure, not being cut out for the job, and more often than that it is simply a matter of the entrepreneur not sticking with it and doing what it took to make their business a success.
There is a time to plan your moves, and there is time to take action. It is super easy to spend too much time on the first step and put off taking action for too long. There is a general rule of thumb when it comes to writing which applies to planning anything. Once you have your first full draft of the content you shouldn’t do much more than four edits. Much less than that and you still have a rough draft, much more than that and you have polished away the emotion and drive of the content.
The first year of any business is the hardest. It’s where you have to work long hours and deal with huge money expenditures to build a thriving business. But it’s worth it. If you do things right you won’t have to be stressed about your business failing in year two.
The first few years of building a business are tough. There is a lot of work, not enough pay, and a lot of headaches along the way. As a result businesses during this period are often connected with the term “suffering” which can easily lead to moments of despair.
Since the New Year, I’ve been spending a lot of time reflecting on my goals for our business and re-evaluating what I want my life to look like.
I’ve listened to a ton of webinars in the last few years, and I’m guessing that is what you are doing about now as well. The problem is that unless you are listening to the right webinar from the right person or company who understands your business you are going to get a ton of horrible advice.
Over the holidays most entrepreneurs make sure there is some time, whether a day, or an entire week to take a break, rest, and party. But what about the rest of the year? Building and running a business is hard work, and it’s easy to get sucked into the idea that you have to work, all the time, in order to be successful.
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