How to build a solid, profitable business

NOTE: I've been getting a lot of emails from readers how they can pursue their passion into profit making businesses. So this post is dedicated to all small business owners so if you're a bride planning for your wedding, more than welcome to browse through other inspirational blogs today. ;)

When I first started event design & coordination company back in 2007 as a full time career, I had no idea it would come this far. I didn't know what to expect after giving birth, but to my surprise, I received more inquiries than prior years. I've seen many wedding businesses come and go, so there was small fear in me that one day my business will close doors as well. Let's be real: If you love what you're doing but not making much profit in 2-3 years in this industry, you should reconsider your path or re-evaluate the direction you're headed towards.
There were many disappointments and conflicts I faced in this saturated wedding business, but one of the greatest assets about it is that I'm ALWAYS learning & moving forward. Here are some tips I'd to share for future wedding planners or anyone who'd like to start their own small business.These are just my personal opinion so feel free to filter out whatever I say ;) 

1) FOCUS ON YOUR SERVICE OR THE PRODUCT YOU'RE OFFERING

It is important to focus on your product or the service you're offering and be the best at it. First year is crucial to brand your business but, don't take EVERY opportunity that comes your way.  When my son's birthday party got featured on various blogs, I received an overwhelming birthday party inquiries and I had to turn down ALL of them because I knew I didn't want to spread myself too thin. It isn't our main service to chase after kids & try to deal with moms who are on an extreme tight budget. It could have brought more business or I could have given the jobs to our associate coordinators, but I intentionally wanted to focus on weddings to provide exceptional, proactive and authentic service to our clients. It was more important that I built credibility & trust with our clients than taking on way too many events to appear more attractive to customers.  It's the little things that make us reliable, professional, and an experienced vendor and I truly believe that it all starts with great customer care & undivided attention to our clients' needs.  If you say that you're good at everything & start dabbling on everything that sparks your interest every time, trust me.. you can't go too far with your flings of interest or the next 'cool' idea. I also have way too many ideas that I'd like to implement, but I sometimes have to shut my brain and be diligent with what I'm given on a daily basis.   Instead of reaching out & spend a fortune on advertising your business, focus on your product or the service you're offering and be the best at it.  Bottom line is, You have to make clients come to YOU. 

2) PROMOTING BUSINESS TAKES TIME. 

Don't get too desperate about promoting your business because good branding doesn't happen by chance.  Make sure to be intentional about where you're headed and also have a clear purpose. I'm sorry to say that there's NO short cuts, especially if you want to survive in the wedding industry for the next 10-15 years.  This means that you don't have to take on every styled shoot or go to every social networking to get your name out there. It's about working and getting connected with the right types of clients. In addition, it is important to find vendors who'd be best at representing your company's work. There's no need to sell your integrity and yourself to promote faster. Staying true to yourself is key. Better opportunities will come when you're ready for it. 

3) HUMILITY AND MODESTY IS KEY.

Be humble & be modest. Weddings are probably one of the most lavished events where couples spend their money that they saved their entire life. With that said, they will choose the most expensive, quality food, dress, florals and other wedding needs. However, you need to guard your heart that you are not personally affected by their money spending. Planners, having a good taste is great, but don't judge others around you if they don't meet your standards. Just because you're dealing with high end venues & clientele, don't be a snob! Just because your work is being featured at various blogs, don't  think you're now a rockstar. Weddings are just one time events, so it shouldn't influence your day to day decisions about how you live as a person.{ my personal reflection & reminder everyday}

4)  ASK YOURSELF THIS QUESTION:
Before you implement your 'new' idea, ask yourself, " Will the financial return exceed the money I'm spending on my business expense? How much profit will I make?"  Over the years, I've seen numerous photography studios & vendors close their shops simply because they couldn't pay for the rent. You need to make smart investments, but you also need to make an educated prediction of how much you'll be earning in one month/year. Just because you open up a fancy studio, it doesn't mean you'll immediate get business. Asking these questions will help you check your status of your business to prevent from unfortunate closures. 

If you'd like to read more tips & things I learned over the years, here are some entries I wrote in the past.  Hopefully, these entries will make you think twice about what it means to build a solid, profitable business while staying true to yourself.

Finding Contentment

Things I've realized lately

Dear Wedding Professionals

Do you want to become a wedding planner?

사장.

{sorry, this post is in Korean}

밤 10시에 (뜬금없이) 한국으로 부터 걸려온 전화 한통.
KBS VJ 특공대라는 TV프로그램 작가였다.
미국 상류사회에서 웨딩, 파티를 전문으로 활약하고 있는 이,삼십대 사장들을 취재한다는것이었다.

작가: 여기는 한국의 VJ 특공대 작가 황선혜입니다. 김에스더 사장님 맞으신가요?

나: 네??? …..(2초동안 잠깐 얼음) 아.. 네… (과연 언제부터 내가 사.장.이었던것인가? ㅋㅋㅋ)

작가: 미국사람들을 고객으로하는 웨딩, 파티플랜 전문가시죠?

나: 네??? 어…그게..사실은.. 꼭 미국사람들만은 아니고…ㅋㅋㅋ

비몽사몽으로 전화를 받고 한 20분동안 통화를 하면서 많은 얘기를 나누었지만, 결론은 다음주에 미국으로 와서 취재를 한다는것이었다… 나의반응. “다음주요?? 좀 빨리 연락을 주셨더라면… ”
하필이면 내 웨딩없을날… 그래서 좀 불가능할거 같다고 말하고 전화를 끊고 다른분들을 소개시켜주었다. 그래도 한국에서 취재하고싶다고 연락이 왔다는 사실에 영광이라 생각하고 나의 모습을 거울에 비춰봤다.
세수도 안한 꼬질꼬질한 모습에 머리는 대충 고무줄로 묶고, 남편의 large size t-shirt와 발에 질질 끌리는 잠옷바지. (사실 이 잠옷바지는 임신했을때 입고 아직까지 애용하고 있음 )
어쩔땐 이런 나의 모습에 내가 놀래기도 한다. 어쩜… 애기 한명 낳았다는 사실하나로 완벽한 아줌마의 모습을 하고 있는 나.
남편 회사 나갈때 아침밥도 거의 챙겨주지 않는 나.
요즘은 바쁘다고 애기랑도 잘 놀아주지 않는, 완전 빵점 엄마인 나.
그래도 이 일을 놓치기 싫고 더 잘하고 싶은데, 또 한편으론 애기를 한 세 명은 더 키우고 싶은 마음이 굴뚝인 나.

참나…..
요즘 이러한 저러한 복잡한 생각들로 아주 잠도 설치지만, 그래도 여기까지 온 나 자신을 보면 기특하기도 하면서 반면에는 두렵기도 하다. 그리고 나의 한계를 느낀다.
끊임없이 도전하고 계발해야하는 나 자신을 보며, ‘이러다 지치지는 않을까.. 어쩜 나도 그냥 평범한 가정주부로 사는게 제일 행복하지 않을까? 과연 엄마로써 아내로써 이 일을 감당해 낼수 있을지 확신이 없다. (full-time job 하시면서 애기키우는 모든엄마들! 정말 존경한다!!! )
시어머님께서 날보면 계속 하시는 말씀이있다.
“하나님안에서 평범하게 남편 뒷바라지하며 사는것이 제일 행복한것이란다.”
하지만 이제 삼십대를 코압에 바라보는 나에겐 평범하게 애기낳고 집안살림만 하는 주부로는 살기가 싫다.. 적어도 아직까지는…
모험도하며, 도전도하며, 그리고 사랑도하며…
앞으로 우리가정을 하나님께서 어떻게 쓰실지 기대하며 오늘하루도 사장답게 살아야겠다. ㅋㅋㅋ

Finding Contentment

Couple of days ago, one of my clients who is getting married in November text messaged me, saying she wanted to talk to me. We met up today and we instantly clicked on a personal level and ended up talking for almost two hours! We were so caught up on opening up to each other about our personal lives-our families, and our guys, that we didn’t even get to talk about wedding planning!. :) Unproductive as that time may have been work-wise, my client shared that she felt at peace & relieved just from being able to really talk. I too, felt like we established a sisterly bond. It was amazing to know that she saw me as more than a hired planner, but as a friend who can listen as well. That’s a great feeling and it is in small moments like theses that I find the biggest contentment in my career and in my life.

But to be completely honest, there are some days when I am easily discouraged or can't find contentment in my career. While this job allows me to be creative and passionate about what I love, I can’t help but find myself comparing with other wedding professionals, top notch vendors, and people who seem to appear much more accomplished than I am. Keeping up with latest trends & getting inspirations from other wedding blogs sometimes leads me to discouragements because I see how much I lack in comparison. So then I try even harder and spend even more time researching and thinking of ways to improve my company. Not that it's wrong to be constantly thinking about how to improve my company and coming up with marketing plans, but there are days when I KNOW I became overly ambitious or workaholic. My mind is scattered with NEXT to do lists, ideas, plans.. it's endless! Amidst the clutter, I lose sight of why I started this work and I am left feeling horribly empty and discouraged. There's only one thing to do when this happens. I leave all the thoughts of work behind and re-focus on why I chose this career in the first place. (Or sometimes it's my dear husband who reminds me to re-focus!)
More and more, I find that maintaining my contentment & joy is always going to be something I choose & struggle to choose. I'm sure there are lots of women who can relate with me on this topic. I am genuinely happy & thankful that I enjoy my work as much as I do and am completely satisfied that I chose this career. Dear readers, I LIVE and BREATHE wedding planning. There is not a moment that goes by when I’m not thinking about my clients, upcoming weddings, vendors, and responding to emails to get work done.

Amidst the clutter, it is my wonderful clients who bring true meaning to why I am doing this. I am so humbled and blessed that they entrust me with something as huge & important such as their wedding. They shower me with thoughtful gifts & thank-you cards after the weddings are over, telling me I was their "absolute best wedding planner that they could have asked for or dreamed of." And then.. it all clicks to me once again. I am so thankful, blessed and truly content.. Being able to share my passion.. enjoying the beauty of building wonderful relationships... I cannot complain about a single thing that has happened or that is going on right now. Then I shake off this feeling of discontentment and let joy fill my cup all over again. Then, I give a big kiss & a hug to my husband who loves me unconditionally and smile at my baby smiling back at me.
How easy it is to confuse what success is. If I don't guard my heart, I can be totally disillusioned about becoming a successful planner. I don’t want to spend my life struggling to keep up with latest trends in wedding industry. I truly believe that when I can be content in my present situation and be motivated by building wonderful relationships, the rest will follow. After all, I didn't choose this career so that I can chase after fame, reputation or success. I'm just a girl who loves to express my creativity & find joy in helping couples in their crucial moments in their lives.

Do you want to become a wedding planner? Please read my advice before you venture out

Now that 2009 is here, not only am I getting inquiries about 2009 weddings, but many girls have emailed me for an internship position at least once a week now. I am no longer hiring at this point, but please feel welcome to send your resume and I may contact you based on day of event needs.

I wanted to take some time to write about what it really means and what it takes to become a professional wedding planner. I know so many girls would want this job as their full time career and who wouldn't? It's exciting, fun and helping someone through a very important stage in his/her life is truly rewarding. However, let me make one thing clear.

Being a wedding planner is a business, not a hobby. It's more than dealing with pretty flowers, going to food tasting with clients & choosing table linens. You have to be prepared to deal with people in this profession.

Just because you like to decorate, throw parties, please people around you, have a sense of style and attention to detail, DOES NOT entail that you can make it into this business. And just because you get certified through a wedding association and pay money to become a member DOES NOT make you a professional wedding planner. Yes, you may have helped out with your friends' weddings and have really considered if this was your destiny. I mean, you have to start somewhere, right? But before you seriously consider becoming a wedding planner, I want you to honestly examine yourself & your abilities. And please don't get me wrong, I'm not trying to discourage you from becoming one, but it's a whole different ball game once you actually start your business. I wish someone would have told me or gave me good advice before I got started. However, I learned it the hard way.

1) More and more I realize, wedding planning is all about relationships. Relationship with clients, vendors, parents, and etc. Networking is the key and if you cannot sell yourself out there in the industry, it's going to be tough making yourself known or meeting the right people and vendors.

2) You must have an excellent communication and interpersonal skills. Good common sense and insight are just as important and you need to be able to read people's minds. I am not saying you need to be a psychologist, solving all clients' sticky issues or problems, but you need to figure out exactly how you can help the client in the most efficient way. Because every bride is so different, you need to gently guide and lead her. There's no RIGHT way to go about planning. You need to be flexible and to be able to encourage your client to be excited to be on board with you. There's no way you can be perfect at relationship skills. It's a learning process and this is something I'm also working on. Trust me, I've had my mistakes and huge failures but it's also humbling to know that I cannot be perfect or satisfy my clients 100%

3) Your job is not to please everyone and don't burn yourself out. You need to set standards, boundaries, and a work ethic for your company and for yourself. If the bride wishes to use unprofessional vendors that are not aligned with the wedding vision, it's better to refuse their services and talk your clients out of using them so that you can avoid any mistakes on the day of. And if you feel that you will not be compensated in properly, it's better not to get involved in the first place.

4) You need to be legitimately licensed which means file an income tax, keep a separate business account, know how much you're actually earning through wedding planning. Most importantly, having a good contract and written policies are just as important as having your business name.

5) You need to know great vendors and mentors who share the same heart and vision to keep you motivated.

6) It's not a matter of how many weddings you coordinate a year/month, you need to be connected with the right kind of clients. Just because they need your help doesn't always mean you need to offer your services. I've had my temptations where I just wanted to take on more clients so I can build up my portfolio, but it was wiser that I didn't, especially close friends and family members.

My advice can go on and on but I would like to close with one thought, "You are not defined by your career" this is something I learned through my husband over the years and he always makes sure that I set my values and standards as a person, not just as a wedding planner. All the more, I want to stay true to myself. There are some seasons when wedding opportunities can decrease and people may not need your services right away. Nevertheless, you don't want to be too desperate and get too ahead of yourself to seize your dreams. However, you cannot expect opportunities to happen, you must take risks and chances and most importantly, you must put in your effort to make it successful. I am in no position to say that my business is successful. And my ultimate goal is NOT to become one of the top notch wedding planners in the industry who only offer full package planning, but the clients I've worked with in the past have given me courage and much encouragement to become a better person and because of their love, I am now where I am today. I still don't advertise and have a fabulous wedding website/blog, but it was through their word of mouth and referrals that I keep myself busy and continue to learn through my mistakes and failures.

The bottom line is that I would not recommend this career to all the girls out there who are dreaming of becoming a successful planner. Wedding planning as your career will be just as hard as opening up any type of business. But don't let your fears & circumstances bring you down, you only have one life to live and you have to do what you love doing for the rest of your life.

If you're interested reading more on this topic, I also posted an entry a while back about "your relationship with the wedding coordinator"

Your relationship with the wedding coordinator

Not only do I enjoy the process of planning a wedding together with the couple, but I also really appreciate and love getting to know them throughout the process. If I were to narrow down two types of brides, they would be: an opinionated bride, who knows what she wants and is very specific with her needs; and a clueless bride who is totally lost in the planning and is indecisive in decision making. (Well, there are some who are clueless at first, but get pretty demanding later on in the process, and there are others who are opinionated at first but later end up not caring as the day approaches.) Anyways, it's always fun to get to know them, and some of them literally end up being my close friends even after the wedding.

So, which type do I prefer to work with? ha ha...well.. sort of in between the two.. but more than their personality, there needs to be a definite connection with the coordinator and the bride. And most importantly, they both need to be on the same page in terms of their expectations. If you hire a DOC(day of coordinator), then the bride can't expect a full service package and the coordinator cannot be solely responsible for the unexpected things from the vendors. 'You get what you paid for'. This applies to all the vendors, even the coordinator. As for the coordinator, you NEVER want to promise too much as if you're THE person who can make their weddings happen. You can never take all the credit after the wedding is over. It's teamwork between the couple, vendors, family & friends and the coordinator.

There also needs to be a complete trust between the coordinator and the bride, to be sure that the coordinator will take care of any sticky issue that may arise during the planning process. This will also mean that she will have to be quick, discerning, frank, and somewhat courageous to step up, even when her reputation is on the line. However, she also needs to be wise as to what to say and how to say when they hear all sorts of complaints about their in-laws, future husband to-be, parents, friends, MOH, and not to mention, some of their vendors. For this reason, you want to find someone not only resourceful but someone who knows how to deal with real life issues. As you can see, being a coordinator is more than making things pretty or being organized; she needs to handle real life crisis with poise and professionalism.
Bottom line is, whoever you choose as your coordinator, ask yourself, "Does she know my taste? Is she on the same page or ahead of me to guide me through the process?"

What you need to know about DOC (Day of Coordinator)

If you asked me if it's a MUST to hire a full service wedding coordinator, I'd say No. However I can clearly say with confidence that it's a MUST to hire a DOC( day of coordinator). 80% of my clients hire me 5-6 months before their wedding and I do prefer working closely with them to insure quality service & to plan out all the details. (I actually love giving my opinions on choosing linens, flowers,lighting & decor details and not to mention going with them to food & cake tasting! keke)
I've mentioned previously why having a coordinator can be the best investment you'll make during your planning, but here's what you need clearly understand about having a DOC and what that means on your wedding day. I always mention this to my clients before they sign the contract.
1) hire your DOC at least one or two months prior to your event. You need to understand that although you're practically hiring them for the day of, it requires extensive work & communication in order to create a flawless event.
2) your DOC will not be held responsible for any lack of professionalism or service by the vendors, especially if the bride & groom have chosen their own vendors outside of the recommendations.
3) your DOC can cost between $500- $3,000 depending on their experiences & professionalism. Obviously, if you're only paying $300-$500, you're not hiring a profesional wedding coordinator.

There are so many components of a wedding - from the ceremony, to the cocktail hour, to all the activities that take place during the reception. A professional coordinator makes sure that you keep on schedule, maintain a great flow, handle any crises that may arise and make sure the day is worry and stress free for you. However, you cannot expect your DOC to do it alone, it's a team work between all the vendors & on site banquet manager. Here are the some services you need to expect.
1st meeting - Review all the vendor contracts provided by client and produce a minute by minute timeline of the wedding day.
2nd meeting- Final detail meeting with client, meet at venue if available.Unlimited emails and phone calls during the 2 month period.
Review and proof BEO (Banquet Event Order) provided by catering manager.
Contact service providers for arrivals time and communicate venue’s procedures for unloading, set up and tear down.
Confirm all vendor orders and quantities on rental items.
Distribute client approved timeline to all vendors 1 week before wedding date.
Work with Officiant in coordinating the ceremony.
Communicate with musicians on ceremony song selections and cueing wedding party for processional.
Assist Officiant and Orchestrate ceremony rehearsal with bridal party and family.
Communicate and manage banquet staff regarding set ups and compliance of floor plans.
Attend sound check with Band musicians/ or DJ.
Direct Ushers with seating and program distribution.
Assist with set up- Seating Cards, Menus, Favors, Sign-in Book, Gifts, etc.
Work with Band/DJ to establish timing for Grand Entrance, First Dance, Cake Cutting, Bouquet and Garter Toss.
On site coordination and management of entire wedding day.