In my 3rd year in business, I made a financial mistake. At the time, I didn’t see it this way. You see, when I moved into my big beautiful studio on Capitol Hill in Seattle, I saw it as a marketing move. With a big bold beautiful space, I would get better clients, more clients.
In my eagerness to create a beautiful work environment and gorgeous client experience, I reinvested a majority of my business income back into the business. I bought beautiful desks, chairs, fixtures, decor. After all, that’s what all small business do, don’t they? They pour their money right back into the business so that they can grow organically, right?
Well, not necessarily.
It’s been 10 years since I moved into that office. And, now I know this: at the time that strategy was motivated by my ego. I didn’t have a strong marketing link between the space and sales. And, I didn’t have a plan for turning that investment into growth. I created a financial strategy that wasn’t really founded on a whole lot. It was fluff. I wanted to feel good about that investment and made the numbers work in my favor. But, the long run, they didn’t.
10 years later, I know this: BUSINESS OWNERS PAY THEMSELVES FIRST. Smart wedding professionals prioritize themselves financially. AND – then…. they invest in the business. It’s how I live my business life now in 2017, and it’s how I coach my clients to do the same. There is a huge difference in a business that is thriving and one that is barely surviving. I want to be thriving and financially sustainable. How about you?