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My Own Personal Cheerleaders…

I loved that little group.  WEB helped me tremendously in that first year in business. That group helped me become more confident.  If I was doubting myself or something I wanted to do, the group would be my cheerleaders.  If I wanted to make a connection somewhere, sure enough someone knew someone who knew someone.  I also loved helping others in that group.  I loved being able to share what I could with them about business and connect them with my net of contacts.

Always Having Support…

When I moved to Seattle, WEB disbanded.  I am still close friends with most of the gals in our group and we still share our dreams and passions with each other.  In Seattle, I was able to build other groups on which I relied on for guidance.  They were less formal than WEB, but they still provided a backboard for ideas.  Sometimes these relationships were one to one, like the one I had with Kelly.  She and I would meet every couple weeks to work on our business plans together.  And, some of them evolved into something else entirely.  This is how a group of us founded a full-fledged not for profit organization called Get Hitched Give Hope. And, I know a group of photographers in Seattle who get together monthly to simply brainstorm ideas… any idea.  The group helps each member think through options to see their ideas come to life.

People Need People…

Having a small business can be isolating.  We spend a lot of our time working alone.  And, even when we are working with others to produce an event, we are separate.  It is our company doing our work.  Their company is doing their work.  Internally, our businesses run because of one person – and maybe a few added employees or contractors.  We need the support of others to help build our businesses: to realize our dreams, to accomplish our goals, to develop ideas.

Who do you go to when you need a cheerleader?  Support?

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What we want to know is this…

What is Your FAVORITE
Business Book and WHY?

Post a Comment for
a chance to WIN!

Tell us what your favorite business book is and why (in 3 sentences or less) before Friday at noon EST.  We’ll be picking TWO WINNERS at random to receive next month’s book, The E-myth. *** This is THE book that totally transformed the way that I think about my business.  It also saved me from burning out and made me see the benefits of hiring and empowering other people to work for me.

We’ll announce the winner on Friday, September 10th after 5pm EST.

*** Pssssst… if you’ve already read the E-Myth… or have a copy of it… just let us know… we’ll gladly trade up for any business book of your choice under $30.

I love that Juliet Douglas was groomed to have the life of a performer as a singer and entertainer, yet she thought it would be best to have a “practical” job in hospitality and events.  I’m sure she has found that have a background in performance is essential to getting her job done, especially in a city like Las Vegas.  When I first started following Juliet on Twitter I did some snooping around to find out who this planner is.  And, what most impressed me is her blog.  WOW!  What a RICH resource for anyone getting married.  Upon learning that her blog has been an important part of her marketing plan, I can see that her blog has been instrumental in her business growth.  She gives great advice here on things she would have done when she started her business. Thanks for the tips, Juliet!

Juliet Douglas
Owner, Green Orchid Events
Las Vegas, NV
www.greenorchidevents.com
Established 2007

Why did you start your business?

Oddly enough, I never pictured myself as a business owner. Growing up, I wanted to be a recording artist and was involved in performing arts. Anyway, like we’re all always told in performing arts, “you have to have a backup plan”. I was lucky to have had a full ride college scholarship so I went to UNLV and studied hospitality with a focus in Entertainment and Special Events. When I had to get “a real job”, I worked as a wedding coordinator in a large casino wedding chapel. After about a year, I wanted to get into catering in a hotel and you couldn’t get a job in catering in a hotel without the experience and couldn’t get experience unless someone gave you a shot. Long story short, I was frustrated so I signed up for a wedding coordination course at a new hospitality school, got experience with some internships and had gained some great mentors. My entrepreneurial minded husband pushed me to start my own business and told me that I was never going to be happy working for someone else. He was right. I love being a business owner.

What book do you recommend to other business owners?

I’m embarrassed to say that I don’t read too many business books. Four Hour Workweek was great but I’m not sure how realistic that is for a new business owner. I AM, however, a huge fan of business blogs. I have over 40 business blogs in my Google Reader and love reading blogs. Plus, they’re free. Some of my favorites include Sage Wedding Pros, Think Splendid, The Wedding Marketing Blog, WebWorker Daily, and Chic Wedding Geek. To name just a few.

What are your cool goal-setting tips?

I actually set goals by putting goals in my Google Calendar. I don’t know if that’s “cool” but it seems to work for me.

What is your biggest challenge as a business owner?

The biggest challenge as a business owner is setting boundaries and rules and not being connected ALL the time. When I first started, I would answer emails at two in the morning. My brides loved it but I overworked myself. Now, I don’t answer any emails to clients past a certain time unless the wedding is coming up within the month and it’s absolutely necessary to respond right away.

If you started your business all over again, what would you do differently?

If I had to start my business all over again, I would have created a better marketing plan. I had a few expensive lessons. I would have focused more on non traditional ways of marketing instead of advertising on various large wedding sites right off the bat. I’m so glad I did start blogging pretty much right away but should have realized that blogging will not make you an overnight success. I was impatient and impulsive and wanted to see results right away and thought that advertising was the answer. It wasn’t.

Also, I would have hired the CPA I have now (instead of my last one) and gotten Quickbooks set up prior to starting. It’s so much easier to get Quickbooks set up prior to your first transaction than two years later.

Thanks Juliet!

Want more great reads?  Check out our book list!

Is there someone that you think is AWESOME in the wedding industry?  Tell us about’m!

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Last week, when we did our post discussing the IRS rulings for contracted workers vs. employees there were a lot of questions and comments and ideas and thoughts and “what ifs”.  My response to all of this: talk to your tax accountant. Don’t have one?  Hire a good CPA with great references.  (If you need one in Washington state, let me know… I have a GREAT accountant there.)

Listen… we expect our clients to hire professionals, don’t we?  We constantly tell our clients:

• Hire a reputable and experienced photographer or you will regret your wedding photos
• Hire a capable and trustworthy wedding planner or your wedding will be disastrous
• Hire an invitation designer or you’ll be tying ribbons on programs at 3am the morning before your wedding

Why in the world do we think that we can get away being tax experts, legal experts, graphic designers, financial experts, and so on?

We expect our clients to hire professionals to manage their wedding, yet we don’t hire professionals to help us with OUR BUSINESSES!  HOLY MOLY!  We have this all wrong.  We use our friends for legal advice when we should be talking with a lawyer.  We read blogs for tax advice without ever consulting a CPA.  We design our own logos in Microsoft Word.

Now, I realize all of these professionals can be costly.  But, a lawsuit is quite costly also… as is an IRS audit.  The cost of advertising is costly… especially if you lose business when the client gets to your website.

Here’s a few quick things I advise business owners to do at the very minimum:

• Have a lawyer review your contracts
• Have a CPA review your employee, intern, and contractor agreements
• Discuss your bookkeeping procedures with a CPA
• If you know your website needs work, talk to a designer

Like everything, prioritize your finances and find a way to work this into your budget in the next 12 months.  It can save you heart ache and dollars in the long run.

NASHVILLE – we are coming to YOU!

The Simple Plan
November 15-16, 2010
at
Wedding 101
Nashville, TN

Our lovely sponsors, Wedding 101, have been nothing short of amazing!  Thank you kindly!

Get your tickets here: EVENTBRITE (get in on those early bird rates!)
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SEE what past graduates have to say.

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• “That person doesn’t refer anyone to me.  I send them all sorts of business.  It’s not right!”
• “I used to get so many referrals from other wedding vendors and now I don’t.  I’m worried.”

Well… there are two thoughts I have here:

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Stop Keeping Score

Referring clients to other vendors is not a game.  There is no point system.  Keith Ferrazzi talks about “not keeping score” when in comes to networking in his book, Never Eat Alone. The idea is that your focus should be on giving.  And, it will all work out.  You may give give give referrals to one vendor.  But, it’s another vendor that sends business to you.  Somehow, in the big “math puzzle of life”, it all evens out.  If you have an attitude of selfless giving, you will be rewarded.  If you give only to get, then you don’t have the spirit of giving.

There Isn’t Any Business to Refer

I used to send several thank you notes for referrals weekly.  These days, not so much.  I’m not getting referrals from other vendors like I used to.  I wondered, “Is it Me?”  Well, a move to another state has a little to do with that.  But, there is also truth in the fact that business is slow for most people these days.  And, if people aren’t getting as many sales themselves, then there is very little to pass around.  If you’re a photographer and you used to get referrals from other “over-booked” photographers…. well, maybe they aren’t as booked as they used to be.  If you’re an invitation designer and used to get business from a specific wedding planner.  If her weddings are down by 30%, there are 30% fewer jobs she can refer to you.  You can’t squeeze blood from a turnip.

Diversify Your Efforts

If you used to receive referrals from 5 key colleagues, now is the time to have 20 key colleagues that you network with.  It is more important than ever to a) diversify your promotional strategy and b) build relationships with a wider range of people.  Network with people OUTSIDE the wedding industry.  Network with new and old wedding pros.  Guest post on other vendors’ blogs (especially those local to you.)  Try new advertising media.

What worked last year and the year before needs to be AMPED UP.

I was fascinated by this.  And, I decided that I was going to study Tracy.  I was going to analyze her every move.  How does she do it?  I thought, “I really like Tracy.  I’m going to do everything that she does.”  And I did.  I literally copied her every move.  Well – I tried.  I’d like to think I succeeded, at least for a short while… until the next fad hit me.  I think I did this for a week.

Do you know what I learned while I was studying her every move?  It was simple: SHE WAS NICE.  (I still know Tracy and I’ll tell you, she *IS* nice.)

People sincerely liked her and liked being around her.  She was often voted “nicest” and “friendliest” and “happiest”.  She had this way of making others feel good and feel good about themselves.  Part of it was her natural positivity and part of it was her cheerful soul.  But, mostly, she was just so nice to everyone.

Tracy was nice to every single person in school… which is saying a lot for 6th grade when people aren’t always so nice.

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Nice Guys Finish First

Honest.  They do.  Eventually kharma catches up… for better or for worse it will catch up.  And, the people who are nice are the ones who are often doing the best.

I think of people that I admire in my career (and in my previous careers) and it is the people who were the nicest that are on top.

Why is this?  Well… think about it… when someone is nice to you, don’t you want to do something nice back?  I sure do.  When someone is nice to you, don’t you notice them?  When someone goes out of their way to be nice (even in a small gesture), does it make you see them more clearly?  I know that when people are kind to me, I notice them.  I want to help them back.  I want to help them as people, as business owners.  When people do nice things, I feel better about myself… and, as a result, I feel better about them too.

People do Business with People

I got to listen to Brett Culp, from Brett Culp Films talk last week at Wedding and Event Video Expo (WEVA Expo).  He shared with us his “business plan” which is a core ideology for how he runs his film business.  It’s pretty simple:

• Do Great Work
• Show it to LOTS of People
• Be REAL Nice

I love this!  I love all of it… but I especially love the “Be REAL Nice”.  These days everyone is sweatin’.  We’re sweatin’ about our equipment, our branding, our websites, our gear, our style, and so on.  BUT(!)—- all the client cares about is THE PERSON that he or she does business with.  That’s also the only thing that your colleagues in the industry care about also.  Yes, you have to provide quality and you have to be able to deliver on your promises.  But, at the end of the day… the client is less concerned what kind of camera you own and more concerned with how they are going to be treated.

Shed everything from your business… and what is left?  Are you nice?

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For ongoing information about The Exclusive, you can visit The Simple Plan website.

Ashley Brockinton Photography

Jeannine Kennedy is the owner of Favor Events based out of Atlanta.  She also is the Editor of The Stylish Planner blog.  The blog is full of fun for all event planners: fashion ideas, health tips, wellness advice, branding education, and style profiles.  I love how it marries business and personal.  As entrepreneurs our businesses are a reflection of us as people.  Who I am is what my business is about.  The Stylish Planner is fantastic at making that connection.  I’ve had the pleasure of meeting Jeannine and I have to say that she is kind and genuine… just a really good person.  Thanks Jeannine!

Jeannine Kennedy
Atlanta, GA
Owner, FAVOR Events
www.favoratlanta.com
Established 1997

Editor, The Stylish Planner
www.thestylishplanner.com
Established 1999

Why did you start your business?

I started FAVOR Events when my only child was entering elementary school. I knew I needed a way to fill my days without him around or I would go nuts. I also wanted to contribute to the family income, but I didn’t want to go back to the corporate world or work for anyone else. Wedding planning was one of about 5 work at home jobs that I was considering, but I was very skeptical whether I would like it or not. I did a friend’s wedding for free, working with her for 6 months and I knew when she walked the aisle that I wanted to make wedding planning my career.

I started The Stylish Planner after a 6-week hiatus from wedding planning last year for personal reasons. Within about two weeks of stepping away from my business, my creative brain was exploding with ideas. The Stylish Planner was the one idea I could not let go. I couldn’t NOT do it; I had to see it through. The Stylish Planner was really just a creative outlet for me, but I’m so grateful that other professionals seem to enjoy it.

What book do you recommend to new business owners?

Business books I recommend include:
Start, Run & Grow a Successful Small Business from the Editors of CCH Consumer Media Group. Not incredibly exciting, but extremely practical – I still refer to it often and wouldn’t have known how to begin with a business start up without it.

Make a Name for Yourself – 8 Steps Every Woman Needs to Create a Personal Brand Strategy for Success by Robin Fisher Roffer. This book helped me to see the importance of having what I say, what I do, my logo, company colors, website, and my personal appearance – everything about my brand sending the same message. It contains a wealth of information delivered in a motivating format from a woman’s perspective.

Soul-searching book I recommend include:
I’m currently reading Release Your Brilliance by Simon T. Bailey and I really wish I would have read it sooner. I think it will result in lots of changes, both personally and professionally.

Do you have any cool goal-setting tips?

I don’t know if this is a cool tip or not, but I work really well with a rewards system of some kind. I keep a wish list in my iPhone notes app of things I want, ranging from a $10 book to a pair of Stuart Weitzman shoes. Big goals get big rewards, little goals get little rewards. The big goals/rewards are financially driven, of course! A good book is a “two-fer” reward because I treat myself to the purchase, but I also schedule the quiet time to enjoy the book. I just think, what good is working hard if you can’t step away from the work and reward yourself?!

I also give myself at least two deadlines for big projects. Deadline #1 is the time frame that I would like to complete the project in and can realistically complete it in if everything goes well. Deadline #2 allows me more time in case something comes up in home/family life or I’m killing myself trying to make Deadline #1. Thinking the second deadline through in advance keeps me from panicking when/if I can’t meet Deadline #1 and keeps me from beating myself up and feeling like a failure. I suppose it is sort of a self-forgiveness – women can be extremely hard on themselves.

What do you find to be the biggest challenge as a business owner?

Balancing work with home and family life. One or the other always seems to demand my full attention.

If you were starting your business all over again, what would you have done differently?

I would have spent my start up money very differently, and I would not have pursued growth so aggressively so soon. I’ve learned that it is ok to be small, especially while my son is still young. There will be a time and opportunity for me to grow, but it isn’t right now and that is ok.

Thank you, Jeannine!

Want more great reads?  Check out our book list!

Is there someone that you think is AWESOME in the wedding industry?  Tell us about’m!

As often happens when laws get made in Washington DC, there are additional hidden laws that get swept into the changes. Often, these changes have little to do with the overriding law.  It’s the nature of the beast in the give and take that happens when decisions are made in the United States.  And, unfortunately, there are some tax laws that were included within the Health Care Law that will affect all businesses.

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The one that really stood out to me is part of Section 9006 of the Health Care Bill.  It stood out to me because I think it is going to present a huge operational shift for small businesses.

Get ready… folks… there’s going to be massive paperwork!

Beginning in 2012, the IRS will require that you issue 1099 forms to all individuals or businesses from whom you buy more than $600 of services or goods in a year.  (Yes – I said ALL businesses that you buy more than $600 of ANYTHING.)

Currently, the IRS requires that you issue a 1099 to any contractor that provides you with more than $600 of services in a year.  (You can read more about “what makes a person a contractor” in my post yesterday.)  This usually applies to anyone that you’ve hired to do contract or freelance work for your business.  It can include weekend assistants, graphic designers, consultants, and so on.

In 2012, you will have to provide 1099s to the following:

• Bought $892 in office supplies at Staples?  Yep, send them a 1099
• Bought $2890 in paper inventory from XYZ spplier?  Yep, send them a 1099
• Bought $8902 in flower inventory from ABC wholesaler?  Yep, send them a 1099
• Bought a $2000 computer from Apple?  Yep, send them a 1099

(The list goes ON!   Oh my sweeeeeeeettttt bejeeezus!)  In each of these examples you will have to consider the total amount purchased in one year.  So, if you have 3 invoices that are each $200 from one vendor that total $600, you will have to issue them a 1099.

The Flip Side…

The flip side is that you’ll be the recipient of these 1099 forms also, so you’ll have to keep them all organized.  And, come tax season, you’ll need to ensure everything is reported for.

What does this mean to your business?

Well… it means you better prepare yourself operationally.  If you feel a little unorganized or under-informed when it comes to accounting and taxes, then this is the time to get your ducks in a row.  (Revisit our Accounting 101 series and hire a good tax accountant.)  The 1099 forms are not complicated to complete.  But, like anything that takes more than 5 minutes, they are a drain on your time.  And, time is one of the biggest commodities in small business.  And, when you will be filling out several/many/lots/loads of these each year, you better make sure your accounting procedures are ready to go.

More Information

• Here is a great post from CNN that talks more about this tax change: http://money.cnn.com/2010/05/05/smallbusiness/1099_health_care_tax_change/
• Here is the IRS page for 1099 forms: http://www.irs.gov/pub/irs-pdf/i1099msc.pdf (the form 1099-MISC is used for contractors currently)

What are your thoughts?

Note: A special thank you to Chris Randall of Edit 1 Media for bringing this to my attention!