Business Development

Multitasking Is Not Cool!

June 3, 2011 By Wendy Leave a Comment

There was a time that I thought being able to do two or three different things at the same time was a great skill to have. On a phone call with a client while updating a spreadsheet with data while watching (more like listening) to Oprah give away goodies to her audience…. Can you imagine? That used to be me.

Inc.com published an article by Lou Dubois recently, and shares several ways to organize your business using Google. Organizing all the goodness you come up with when creating can be hard to keep track of. When creating, multitasking will cut down on your creative power by clogging up your head with too much good stuff. (Probably some bad stuff too!)

I learned back in November of 2010 to download often. (MTH2010) Downloading often (doing a data dump of your head) and using Google to hold the information for you as described in the article is genius! Not only will you avoid clogging up your brain, but your office won’t be clogged up with paper and debris from your brainstorming session.

“At any given moment, your brain can hold no more than 5 to 9 items at once in short-term memory, as Merrill notes in the book. As you need more space (when multitasking) and try to remember more, your brain pushes items into long-term memory, until they are needed again. That process is far from foolproof.”

So stop…slow down and refresh. Release all that goodness you’ve come up with today so you avoid overwhelm and watered down ideas!

Until next time…

Aspire!

Filed Under: Business Development, Business Skills, Time Management Tagged With: business planning, creative planning, multitasking, organize

Create a Framework for your New Planning Business

February 18, 2011 By Wendy Leave a Comment

When building your wedding planning business, it’s important to make time for administrative work. Creating a framework for this work will make it easier to implement and get done. Problem is, there’s so much to do, it may be difficult to see the big picture. I have three simple steps to get you started.

When a new planner begins coaching with me, one of the first things we do is create an organization chart. This helps to paint a nicely compacted picture of all the different things that need to be done in her business. We include all the positions/job titles in a traditional, small business and then we add the tasks that would be completed by each position.

Now, because you are flying solo (for now), your name will appear in every single section on this org chart. I know…sounds like a lot of work…but realistically, you ARE the person who needs to do it all. At least in the beginning.

The good news is, documenting it in this way helps to give you focus and clarity on what you need to do as a new business owner.

The second thing we do is to create a schedule of everything that needs to be done in a typical week. Blocking out chunks of time for similar tasks gives you the flexibility you need to work “on” and “in” your business which is just as important as doing “client” work. For some new planners, this means including a regular 9 to 5 job. Let’s face it, more than likely, you are starting your business by building it during evenings and weekends. I don’t like to call it “part time” because if you are as ambitious as I think you are, building your wedding planning business is a 30-40+ hour per week job. There’s nothing part time about that! This schedule will also help you to make sure nothing is missed and that you stay on track with the goals you’ve set for your new business.

And finally, the third important first step in creating the framework of your new planning business is to create your business plan outline. Not ice I didn’t say, create your business plan. It’s sounds so daunting and a little scary, I know. Notice I said, “create your business plan outline”, not “write your business plan”. Creating a formal business plan can be a long process. I worked on mine for almost a year before I felt ready to launch my business. But starting by creating an outline will give you the framework for a comprehensive and more traditional business plan, which is very important for any business.

Now? The REAL work begins. You have a framework for your business and now it’s time to put a plan into place.

What else are you struggling with in your business? Have you setup your systems for when you get that first lead? Join me on the next Before the Bride Q&A call and let’s talk about it.

You DO want to be ready BEFORE that first bride calls, don’t you?

The Before the Bride Business Planning System is a 10 step program developed to help wedding planners start their businesses the right way…to become business owners and not just hobbyists. It comes complete with step by step exercises, worksheets and audio files to guide you in building a planning business that’s ready to accept new brides. To get it, visit the services page at AspiretoPlan.com.

Filed Under: Business Development, Operations, Time Management Tagged With: aspiring, brides, business plan, business planning, new planners, org chart, wedding planning

Creating Your Operating Processes

July 14, 2010 By Wendy 2 Comments

Let’s talk about your Operational Process. Who does what, when and why?

If you receive an email from a bride looking for packages and pricing information, how will you respond? Remember, this is part of the initial sales process so be intentional with how you respond.

The photo below illustrates the beginning of a flowchart for a client inquiry process. I use post it notes to create the boxes of the flowchart. Squares represent an occurrence of something or an action step that needs to be taken. Diamonds represent a decision that has to be made.

Here, I put them on the wall in my office. Sometimes I’ve had to move them to a big wall because there are so many steps. Using different color notes makes it fun too. Creating one similar to this for all your processes helps to operate your business in a consistent manner.

In any process you need to know three things:

What are you doing? (Taking a client inquiry with the intention of booking them as a client)
What are you trying to accomplish? Where are you going? (Schedule a get acquainted meeting)
How are you going to get it done? (Describe each step of the process in detail)

Each rectangle in the flowchart represents an area to create a standard response. By standard I mean one that is consistent with your brand and what you are trying to accomplish as part of your sale process. (More on the sales process in a future post.) Documenting your standard responses also allows you to create a process manual so that you can automate your systems for others in your company…like interns and assistants.

One of the processes I encourage all new planners to create right away is one for all new brides that book your services. This is MAJOR! Think of all the steps you will take them through during each of the planning phases, all the way through to the wedding day and after. Don’t be ad hoc about it…you’ll become known for how you do things in your business so make sure you have a solid process in place.

Begin with how you would want to be treated as a customer. Then look back at the last two or three customer service experiences you’ve had. What worked and what didn’t?

Creating processes and documenting them is one area that I go into “really” deep with my private coaching clients. I was used to creating systems and processes while in my corporate jobs over the years so I naturally prepared these when I was building my planning business. It’s one of the reasons I was so successful in the beginning, when it came to booking brides. Many of them told me that they felt at ease because my preparedness assured them they were working with a professional. First impressions are VERY important…what you do here can make or break you.

Do this exercise with every process in your business. Write it down and add it to your procedures manual. And when something doesn’t work, be sure to make adjustments and update your process accordingly.

These exercises and more are in my new report “Seven Critical Mistakes Aspiring Planners Make BEFORE They Book Their First Bride.” Get it by visiting the sidebar on my website today!

Until next time…

Aspire to Plan!!

Filed Under: Business Development, Operations

A Cure for Procrastination?

July 12, 2010 By Wendy 1 Comment

I’m guilty of it. I think most of us have been at one point or another in our lives. And as we get older, it seems to get worse.

I wasn’t a fan of “lists” for organizing and getting things done in my personal life…I did it all day for my clients. I didn’t want to see another list when I got home. Now? I swear by them! I even schedule time in my day to create them. Making these lists is just one way I’ve been about to “curb” (not yet “cure”) my procrastination habit.

But what’s been most successful for me is that I just made up my mind that I needed to stop the madness and start to get things done…no more excuses. Easier said than done, right? Here’s how I tricked myself…

I typed up these words; printed them onto cardstock and they are now on the walls of my office:

-Vacation? Shopping? Naps in the hammock? Tackle the to-do list to make more time for what you WANT to do!

-Stop keeping all your awesomeness to yourself! Get things done so you can share your gifts!

-Want more raving fan testimonials? Then, GET MOVING and GET THEIR WORK DONE!

Try it! And let me know if it works!

Until next time…

Aspire to Plan!!

Filed Under: Business Development, Time Management

What Does Your Talent List Look Like?

July 7, 2010 By Wendy 1 Comment

Being a wedding planner requires talent. Chances are you already have one or two of them that you can apply to the job. Mix that in with a good dose of the right learned skills and passion, and you are on your way!

Sit down and take a complete inventory of the talents you already bring to the table. Be a VERY hard grader. Why? You need to know what situations you can handle and what you can’t.

Weddings are emotionally charged events. Some say planners should also have some training in psychology and sociology. Having exposure and being familiar with the human psyche is a plus in any career; having it when you’re a wedding planner is gravy!

Another reason to be aware of your talents is because finding solutions to last minute problems is easier when you have a sense of your capabilities versus ones you don’t. Know your limitations so that you can be prepared for any kind of situation. Even if that means calling on someone else to help.

Think about the personality, inherent talent and skills of a planner that YOU would hire and work with. What questions would you ask of her or him? And finally, what would they have to be passionate about to win your business?

An ideal list of talents might look like this:

Works well with a team
Great at time management
An artistic eye
Calm and cool under pressure; compassionate
Able to think and make decisions quickly
Being a “forward” thinker; being able to see the big picture
Have a knack for details AND…
Knowing when getting caught up in the details, ruins the big picture
Being organized
Learning how to work well with others…clients, their families and vendors

If you’re honest, you’ll agree that you either have these talents or you don’t. Some of these things can be taught but most of them are traits people are born with.

How do you measure up?

Aspire to Plan!!

Filed Under: Business Development, Business Skills

Aspiring Planners: Don’t Make These Mistakes

June 3, 2010 By Wendy 5 Comments

I was recently asked what I thought were the most common mistakes made by aspiring planners when they start their businesses.

Here’s what I’ve come up with:

Aspiring planners don’t really take the time to find out if wedding planning is really something they’re cut out for.
They don’t take the time to learn the proper way to structure their business in a legal sense.
They don’t create a marketable and compelling brand or identity for their business…nor do they identify who their ideal client is.
They don’t spend enough time on the organizational and operational aspects of their business.
They don’t take the time to decide what services they will provide…design, consulting, planning and or coordination; how those services will be priced and packaged (hate that word!); and finally whether those services will be profitable based on those prices.
They don’t learn the importance of consistent marketing or the “art of the sale”.
Finally, but certainly one of the most critical mistakes they make; they don’t set up a system to record and monitor the financial transactions in their business.

Many times, these elements are created on the fly…AFTER they’ve chosen a pretty logo, published a nice website, printed business cards and placed an ad in a wedding magazine. They do all this and wonder why they aren’t getting the phone calls from all the brides that “need” their services.

Now…I didn’t come up with these to throw stones…I made some of these same mistakes. I merely wanted to share with you what I’ve seen in the 12 months since I’ve started mentoring aspiring planners. Maybe this is one of the reasons so many planning businesses start and fail. I’ve personally seen many of them come and go.

And it’s not for lack of trying. Not at all. Many planners I’ve talked to are passionate and eager to make their businesses successful. Truthfully? The “bright, shiny objects”…the diamonds, pretty linens and gorgeous flowers blinded them. They didn’t take the time to look at the hard stuff and learn what they needed to learn in order to be successful.

Or maybe they found out that they just weren’t cut out for wedding planning. Too bad they invested so much money to find that out…when they could have just done the necessary work BEFORE the brides booked their services.

What do you think? I’d really like your feedback on this. Thanks.

Until next time…

Aspire to Plan!

Filed Under: Business Development

Why It’s Important to Understand and Have a Good Bookkeeping System

May 26, 2010 By Wendy Leave a Comment

A few days ago I told you why you hate the numbers. Was I right? Thought so…

Today I’m sharing why it’s important to understand what your numbers will help you with in running your business. Then I share a three step exercise at the end to help you get your arms around your numbers so it’s not so overwhelming.

Why its important:

To avoid unnecessary fees – This is a problem because it adds unnecessary expense. Being late on a payment or overdrawing your bank account, is like burning money! Banks charge hefty fees for overdrawn accounts, and this is just money wasted. If you aren’t managing your money on a weekly or monthly basis, these fees can add up. (I HIGHLY recommend overdraft protection because occassionally there will be an oversight. But even so, why give the bank ANY of your money?)

So you won’t be disorganized at tax time – You’ll waste a lot of time and possible sleep trying to gather everything together at tax time in order to do your taxes. If you have your taxes prepared by a professional, then you risk adding additional fees for the time it takes your accountant to make sense of it all before they can even begin to prepare your taxes.

To be able to make informed management decisions; long term and short term – If you don’t know your numbers and you don’t know what’s in your numbers, you can’t make solid business decisions. If you don’t know how much money you have in your bank account, you can’t decide whether or not you can spend money on an opportunity that happens to come up during the day or during the month. Having a solid grasp of where your numbers are and where they are going will help you to make better management decisions. For the short-term, that may mean purchasing a piece of equipment that happens to be on sale this week. For the long-term, you may see a conference coming up in three to six months that you would love to go to but because you don’t know what money may be coming in and what expenses are going out the door, you won’t be able to plan for that big expense in the long-term.

Knowing the ROI on a particular outlay of cash – The benefit you get from the money you put into your business has to be measured in some way so that you can make adjustments accordingly. You need to know whats working and what isn’t..like your advertising and marketing efforts…so that you can change them for better results.If it’s bringing money in the door, then you most certainly want to continue doing it. If it’s leaking money, then you want to get rid of it. You won’t know that unless you understand and have a solid book-keeping system.

Saves you time – Time is a very, very precious commodity when you own your own business, especially entrepreneurs and small business owners. Your time is money, so it is more important for you to spend time doing the things you love; those glamorous things; the creative things; the things that led you to start your business in the first place, instead of sitting behind a computer, at a desk, crunching numbers.

Here are some steps, just three simple steps to getting started on understanding the finances of your business:

Make a list of all the different ways that money comes in and out of your business; cash, checks, Paypal, debit cards, and credit cards. Under each type of tender, name and describe some of the situations/transactions where you use those vehicles of payment. A new client sale, supplies purchases, lunch or coffee date with the client or vendor, marketing and advertising payments, one time payment and recurring payments, professional fee payments, membership fees, club fees, rent, utilities.
Next to each transaction type, write down whether it is a revenue transaction (service or product sale), or an expense. There are several types of expenses but I won’t bore you with trying to determine that right now. Leave that for your accountant or bookkeeper to figure out.
Develop a process or system that you are comfortable with, to record the transaction (spreadsheet or Quickbooks). Make it simple so you’ll be more successful at keeping up with it. Also, designate a place to store the receipt/invoice/documentation for each of the types of transactions listed above. Like a folder or envelope labeled with the contents and what month it’s for.

Now…go and create some time and space in your schedule to do your bookkeeping once per week or at a minimum, once per month. If you can’t find the time in your schedule to do it, then hire someone to do it for you…to either create an easy, step by step system for your unique operating style or to actually do the bookkeeping for you each month.

Create the peace of mind you need to be a successful business owner as it relates to the creative side AND the financial side.

Tomorrow’s post shows you what a simple, easy Cash Flow Statement looks like`and how it can help you. Don’t miss it!

Until next time…

Aspire to Plan!

Filed Under: Accounting 101, Business Development

Why Small Business Owners Hate the Numbers (Warning: Soapbox Post)

May 25, 2010 By Wendy Leave a Comment

You may be wondering why I am qualified to write and speak about finances and the dreaded “numbers game” of running a business. I’ll tell ya…

When I was a senior in high school, I decided to take a few business courses to breakup the monotony of all the chemistry, math and history classes I had to take in order to get into college. I took 6th period Accounting (lunch period) because I was more than likely going to ditch the class to hang out in the lunch room. Yes…I “planned” when I was going to ditch. I certainly wasn’t going to use that time for a “serious” class! (See? I was a “planner” even back then!)

Anyway, long story short I LOVED the class. So much so that I did the homework way in advance of when it was due. The curriculum? Starting and maintaining the books for a fictitious company during a three month period. It was like a game to me. I think I had the entire first month’s worth of transactions interpreted, recorded and books balanced by the first or second week.

Got an A+ in the class…off to UConn I went…majored in, you guessed it…accounting…and spent the next 25 years working my way up from bookkeeper to Director of Finance of a company here in Phoenix. I earned great money, enjoyed a great lifestyle and it exposed me to the in’s and outs of running a business profitably.

That’s why I love the numbers.

So here’s a rerun of a post I did a few days ago…a reminder of why you hate the numbers:

1. You are not good at it. You haven’t been trained to do it.

2. You don’t have time to do it. You’re busy running your business and your life. You’d rather spend time on the creative aspects of running your business.

3. You can’t keep track of all your receipts or all of the ways you spend your money. Money goes flying in and out the door in different ways at different times.

4. You don’t know what receipt you should save and what you shouldn’t save. You end up saving every little receipt for every little expense (annoying) and you’re not sure if you should spend the time to file that receipt in a neat little place or because you don’t know if that expense is really important.

5. You don’t know how to record or categorize all the different ways you spend money. Again, this goes back to all of the different ways you spend money, whether it’s cash, check, credit card. It’s very confusing when you use all these ways of spending money, and what to do with each type of tender.

6. It’s not glamorous. Flowers, linens, fancy cakes and taking pictures of insanely gorgeous couples is glamorous…crunching numbers is not.

Bookkeeping is not something that people enjoy doing, and it never will be, but there are ways to make it more simple. Really, I promise. Tomorrow I’ll share more on why it’s important and some simple steps to make it easy for you.

Until next time…

Aspire to Plan!

Filed Under: Accounting 101, Business Development

Have You Written Your First Press Release Yet?

May 18, 2010 By Wendy Leave a Comment

When just starting out in your business, some would say its difficult to get the word out about your business without spending a ton of money. On the contrary…there are plenty of ways to tell the world about you and what you are doing in your business, without spending a ton of money. One of them is to write a press release.

There have been a million articles written about it and many of them are very informative. I won’t bore you with another rendition so…

Here’s a great “how to” that’ll get you started on your press release.

Tomorrow I’ll present the NEXT Aspiring Challenge, so read the above link and come back tomorrow for all the details!!

Until next time…

Aspire to Plan!

Filed Under: Aspiring Challenge, Business Development, Marketing