The wedding industry is constantly evolving! We see this through trends, technology, decor, and fashion. Therefore, it makes sense that wedding business have to be open to change and improve with the times in order to stay relevant. Unfortunately, most companies won’t adapt. If you line up your fellow wedding vendors and look to the left and the right of you, only 1 of you will still be in business years from now.  According to the Small Business Administration (SBA),

“80% Wedding Business (small businesses) will survive the first year, only 50% will survive past the 5 year mark, and 1 in 3 will get to the 10 year mark”.

The solution, know they key point of business and make conscious efforts to improve. Not reinvent, or exhaust yourself, or do more… simply do better 1% better at a time. Here are the 4 pillars of business success:

purpose

Communicating your passion/purpose is essential for booking events. This relates to your “WHY”: why you went into business, your mission, who you do it for, why you are different, why you should be hired, your brand, your unique story, etc. Improving how you communicate your purpose leads to a cohesive brand experience for customers. Weddings are loaded with emotional investments so client don’t just buy what you do, they invest into why you do it.

people

This includes anyone who has vested interest in the success of your company: your customers/clients, employees, fellow vendors, suppliers, and your family. Improving communication, follow-up, presentation, satisfaction, and appreciation, will add value to these relationships and your business. People are the most important part of business.

product

This is the services/items you offer clients. Aim to be clear about the services you offer, consistent with quality & branding, confident with pricing, intentional with marketing, and referred by past clients & fellow businesses.  Evolving and refining this area will set you apart from the competition and lead to increased sales.

process

This refers to the steps you take to perform a task, function, sale, or service. There is a lot of wasted time in business process, therefore, finding ways to streamline certain aspects will make the company more efficient and organized when growth occurs (and I’m believing with you, growth is comin’!). Equally important, proper time management in your business will free up time for life outside of work. When your process is well structured potential clients can 100% tell the difference in comparison to competitors.

In conclusion, you will be successful and create value if you focus on Purpose, People, Product, and Process. Perhaps you have identified an area for improvement but you aren’t sure how to fix it. I would love the opportunity to teach you how improve– when you are ready I’ll guide you. Someone needs to hear this today: Don’t give up, that which is difficult is usually worthwhile. You don’t have to be everything for everyone– identify your tribe and love them hard. Don’t be to prideful or afraid to ask for help. You’ve got this!