An extra thousand dollars can be a great help in building your wedding planning business, if you spend it wisely. Here are tips for making the most of your money.
Question
If you had a thousand dollars to spend on your wedding planning business, how would you spend that money?
Answer
How you spend a large sum of money depends on where your business stands today. Every wedding planning business has different needs but here are 7 suggestions for spending the money:
1) Pay off or down any business debts
If you have any business debts, pay them first. If you don’t, you could eventually be paying more than $1000 in interest fees.
2) Purchase a real website
If your rely on social media accounts and a free website to market your business online, it’s time to invest in a website. If you need help designing and setting up a professional site, hire a web designer.
3) Invest in additional education
Determine if you could be more successful if you increased your knowledge in a specific area. This could mean spending some money going to school to learn, for example, floral design, event design or even marketing and advertising.
4) Invest in professionals
If you haven’t had an attorney write a contract for you to use with brides or hired a professional to set up your accounting system, do it now. (Or, if you need help with your business – shameless plug – get a mentor.
5) Upgrade your technology
Your computer, laptop or tablet should be something that you alone use for your business and not equipment that you share with your family. So, if you don’t have equipment specifically dedicated to your wedding planning business, look for some good deals and pick up something new.
6) Buy marketing and advertising
Do some research and invest in the marketing and advertising methods that will attract the brides you want.
7) Update your “first meeting” outfit
You want to be sure that you feel confident every time you go out and meet a bride or a vendor for the first time. If your current clothes don’t help you do that, it’s time to go shopping.
None of these may be what you consider fun, sexy ways to spend your money, but investing in them could help you propel your business to greater success.
And if you have a pressing question about starting or running your wedding planning business, you can send me an email at questions@sharonhill.com. I’ll answer them on this blog or in my ezine, “Wedding Planner Tips,” which you can subscribe to here.