Taking A Business To the Next Level

[AA1980]

I'm lucky to have come upon the FLF years ago, and have learned a ton from following and reading many of your posts. For that, I am incredibly grateful.

My wife started a business a month ago, which includes a few different offerings; she does decorating (mostly for holidays to this point), gift wrapping/shopping, party planning, etc.

Luckily, the business has done well so far in that she has had constant client projects to work on (virtually every day, including weekends). Why? Because she has a good friend who is a professional organizer with a mailing list, and featured her in the last mailing. People that pay for professional organizers are the same people that pay for the services she offers. Since then, she's had work almost every single day. Not bad for something with virtually no startup cost.

She's very talented, with an "eye" for what works and what people want. At the same time, it's a grind, and I expect that to continue. At $50/hour, it's not bad money.

Any thoughts on how she can increase her profit margins? The main idea that I had was that, at some point, she would have people working for her. She would be the design and ideas behind each project, and would float from project to project to oversee, while others carry out the work. That could help her scale.

Any thoughts?

Thanks!

 

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[ZCP]

Read The Emyth Revisited by Gerber

 

[AA1980]

Read The Emyth Revisited by Gerber

Will do!

 

[Aragorn]

I understand that your wife's one talent is her "eye". I assume that she does a lot of things herself. I agree with your idea to hire staff. In order to keep cost down I would analyze her tasks and outsource subsequently on upwork & Co. Does she need a PA? How is billing/paying bills done? These sorts of questions.

Anyway, congratz to this great start!

 

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[AA1980]

I understand that your wife's one talent is her "eye". I assume that she does a lot of things herself. I agree with your idea to hire staff. In order to keep cost down I would analyze her tasks and outsource subsequently on upwork & Co. Does she need a PA? How is billing/paying bills done? These sorts of questions.

Anyway, congratz to this great start!

These are great ideas. Right now, the billing takes very little of her time. I think, outside of the decorating part, a lot of time is spent driving to stores to get the appropriate materials for that specific project. Maybe she can hire someone to do that without eating too much into the profits.

The website needs some work, and I’ve been mostly responsible for that. But it’s been a secondary priority because all of her leads have been through her friend’s list, as mentioned.

Any suggestions on the website would be appreciated. breezybycaitlin.com. Thanks!