Creating systems and organization for all Wedding Creatives.
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My mission is to help creative women spend less time sitting behind the computer and more time doing what you love!
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It’s common to find the calmer pace nerve-wracking during the slow business season. After all, having extra time during the workday isn’t always something small business owners are used to. However, the slow season is an excellent time to put some TLC into areas of your business you wouldn’t otherwise have time for. Here are 4 things you can do to plan for the slow season in your business that will help you stay productive.
We all know that we should update parts of our wedding business, but we simply don’t have the time to sit down and research new systems or procedures, especially when the wedding season is in full swing. Luckily, the slow wedding season is the perfect time to make these updates. This is when you can finally sit down and assess your business from the ground up, delving into what’s working and what isn’t. Consider integrating tools like HoneyBook into your workflow to streamline client management, contracts, and payments. Update your Standard Operating Procedures (SOPs) to include these new systems, and restructure your daily work schedule for maximum efficiency. After you update everything, you’ll feel much more at ease and prepared for when the wedding season starts to pick up again.
A wedding business thrives on its services, but sometimes they need an upgrade. While ideally, our services are always up-to-date, evaluating them takes time. During the slow wedding season, you can evaluate, update, or even launch new services when the wedding business is slow. Start by researching what services are currently in demand and what your competitors are offering. When updating your pricing, calculate your profit margins to ensure you’re pricing your services competitively while maintaining profitability. A general rule of thumb is to aim for a profit margin of 20-30% in the wedding industry, but it can vary depending on your specific circumstances and goals.
The slow wedding season is an ideal time to invest in your training and education. There are various types of training available for wedding professionals, such as:
Not only will you have the time to decide what courses or training you want to do, but you’ll also get more out of a class when you’re not slammed with work. It’s an excellent chance to dive deep into your studies and digest the information without feeling rushed.
A savings strategy is a must-have, especially when the wedding business is slow. Consider implementing the Profit First method, a financial management system designed to ensure financial stability. Here’s an example of how it works:
With the Profit First method, your wedding business will be on a better financial footing when wedding bookings pick up again.
As a wedding professional, the slow season doesn’t have to be a source of stress; it can be a canvas for creativity and improvement. By following these four steps, you can not only weather the quieter months but also set the stage for remarkable growth and success when the wedding season returns in full swing.
During this time, take the opportunity to update your critical systems and procedures, including the utilization of powerful tools like HoneyBook. Revamp your wedding services and pricing strategies to ensure they align with the evolving demands of the industry. Invest in your own growth by exploring a variety of training options tailored to wedding pros. And don’t forget to establish a sound savings strategy, implementing the Profit First method to safeguard your financial stability.
Remember, the slow season is your ally, offering you the precious gift of time to refine, restructure, and reinvigorate your wedding business. At Modern Penny LLC, we understand the challenges you face and are here to support you every step of the way. If you’re eager to take your wedding business to new heights, even during the quieter times, don’t hesitate to sign up for a free discovery call. Let’s transform this slow season into an opportunity for growth and success that will resonate throughout the year.