3 Struggles Floral Business Owners Face That THIS Will Transform
There are three ways your business and pricing strategy are going to transform your floral business (and empower you).
How often do you ask yourself these questions:
How do I get noticed?
How do I get more clients?
How do I get the right kinds of clients?
How do I make money?
How do I NOT be a frazzled person all the time?
How does this work long term so I can keep the personal freedom and creative lifestyle that I got into this for?
BAH! Just writing that makes me anxious and overwhelmed. The fact is that nobody really knows what they are doing in making a business. We’re all just doing our best.
We are both the scientist and the experiment. The artist and the painting.
And instead of focusing on our own craft, our own business, we look to other’s as if they’ve figure it out.
What is the industry standard for __?
What do you price for this?
How can you charge that much when I have a hard time charging __?
Asking these questions is a little like wanting the same results from a painting but not considering that everything is probably different. Maybe your paints are different, maybe your particular stroke is different. Maybe the people buying your art are totally different. Maybe you are trying to paint your damn picture while 3 hellions adorable children are hanging onto your legs.
The point is that even if you are trying to paint the same still life on a table, we’ll all end up with a different painting.
Someone else’s strategy may not serve you at all. Your financial strategy must be based on YOUR needs.
So here it is:
3 reasons why you need to strategize your money and pricing in order to achieve your wildly satisfying, soul-filling floral business.
Looking outside yourself isn’t serving you. Yes learn from others. But ultimately, do the work to know yourself, and to know the business you are trying to develop. All that info MUST be filtered through the sieve of what matters to you and what does not. That is the way to avoid distractions and carry on the march toward your dream business.
I wish I had those clients, I wish I had those jobs, I wish I had that publicity, I wish I had that FLORAL APRON! These kinds of thoughts just throw you off your game and at worst could lead you to underappreciate what you have now and the incredible steps you are taking to building your dream business.
In Price and Profit Design, we walk you through how to think about all the aspects of your business, where you are in your business, and what you want to get out of it. Just like the artist, your canvas, paints, and subject matter are different. You are different. How you measure success will be different. Luckily, it’s not a one size fits all solution.
We won’t tell you what profit margin to hit,
We won’t tell you a percentage to charge because it’s a standard.
We won’t shame you for NOT charging what someone else charges.
You will figure out what you need to do based on HOW YOU DO YOU! This is entirely YOU focused.
And you’ll be able to confidently stand behind that.
What previously distracted you will just be passing noise.
Contrary to the standard model, you do NOT have to live with what’s leftover from your business. Profit does not have to be a side-effect, but a planned outcome that is separate from your personal pay.
When you plan for profit, you are really designing your goals for your company. Here’s how:
You determine your base need (for you). This is what you determine will cover your needs in your life. The number that will allow you personally to breath a sigh of relief.
You figure out how many events or sales you will need.
You discover what your average event or sale needs to be.
You define your level of spending for each event/ sale.
You determine your profit- (pssst, you have already determined your pay so this is extra).
And finally, you design a pricing structure that will allow all this to be possible- A set of pricing rules to use and know you are progressing.
3. Burn Out
If I know you (and chances are I WAS you), you will give, give, give until you collapse. If you haven’t yet, you might feel that dread that it is coming. You worry that your body will wear out and your stress will get the best of you.
You are not going to be able to create for long, bring your beauty to the world, and amplify the even greater things you are capable of, if you cannot tame the beast. PS, that beast is not your workload. It’s your own chaos that you’ve cultivated by not having boundaries.
A financial strategy and the clear direction that comes from it allows you to stay true to your goals. The strategy is like a track for your powerful train.
You fly by all those distractions because you’ve constructed boundaries...
Following the financial strategy steps we covered in ‘profit’, here’s how those boundaries play out for real:
You determine your base need: with that comes a minimum goal. Before you hit that goal, you do not veer off track. If an opportunity comes up that takes money and you haven’t planned for it? You don’t do it. You have higher priority goals to attain.
You figure out how many events or sales you need. You have a number to attain, what sorts of marketing efforts are going to help you attain those goals. How much will they cost? Plan for those goals. All other marketing opportunities that you are not sure will help you make your sales goals, you don’t do.
You define your average sale or event. There may be a physical limit to what you can accomplish. That means you may have to increase your average sale or event. What efforts will allow this to happen (psst, we help you with this in Price and Profit Design).
You define your expenditures: You will know with certainty what you can and cannot do. That sparkly new thing you’d like to try, depending how far along you are with your goals, you may say no and walk on.
You determine your profit: Whatever opportunity is in your face right now, may not look so good when compared with the profit you planned on having. That profit may mean freedom from a 9-5 job. It may mean you have enough for a regular assistant, it may mean you have a buffer for the following year’s inevitable cash flow problems. When faced with that kind of security and freedom you can get with the truly EXTRA money you plan for- the temptation to overspend on flowers, discount your rates, or just throw that extra service in won’t be difficult to curb.
And finally, when you know what pricing you need to make all this possible, the type of client you need to attract becomes apparent. Clients that are not a great fit can be referred to someone else. And all the requests for free flowers, for discounts, for free stuff in exchange for ‘exposure’ will be an easy “thanks, but no”
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These are the tangible benefits you will get from Price and Profit Design. The intangible benefits are the clarity and a feeling of control in your business and life. I cannot be MORE excited to guide you on your path to figuring all this out.