Around here we give a slight eye roll when we see the newest guru pop up with another course claiming to give you the ONE secret to making six figures in your business. Even for brand new planners - the more the merrier. Without hesitation I would tell you that any business that is even remotely near six to seven figures is doing more than just ONE top secret thing because success is a balanced ratio of several actions/systems/offerings and strategies to get to that milestone.

Recently, I participated in a survey of wedding planners nationally in a well known group who I respect so much. I too was disheartened to see the lower end of the net profits of what planners are taking home in our industry and I would love to see these numbers go up of course! Are we bringing enough home to cover taxes, overhead, staffing, marketing, insurance and so many other important elements to running a successful business? In 2018, I personally learned a lot about overhead and keeping expenses down. I learned first hand that I spent way too much on rent, staffing and cough cough - Starbucks* :)

Now, we don’t want to price fix or tell people what to charge but what I think we can do is help planners at every level avoid going through pitfalls that kill profitability in a service based business. My frustration in wedding planning education at large is that we only talk to the brand new planners or those who are serving a luxury market and are transitioning into course offerings/retreats or adding additional streams of income (florals. rentals, education etc.)

The Wedding Planner Mastermind Group was created for planners who have been in business a minimum of 5 years and who are planning full time with intentions to grow and scale their companies into more than a side hustle income. Topics like workflows, CRM tools (Aisle Planner, Honeybook, Dubsado etc.) Accounting/Bookkeeping, Staffing, Sales processes and more are super important conversations that we need to keep at the forefront of our industry rather than only focusing on styled shoots & Instagram feeds.

So what would I say to planners who are desperately wanting to take their profitability to the next level? I’d say pull up a chair because it is not a one stop action - its multi-faceted and let’s not try to re-create the wheel when we have so many accomplished industry leaders who can share wisdom in specific areas. Let’s shine a very bright light on that awkward elephant and bring it all into the light. I don’t think we talk enough about the real nitty gritty of business ownership like payroll, self employment taxes, contracts & risk management, labor laws and human resources that can have a ripple effect if you aren’t paying attention to federal and state laws.

If you missed our Finances over Feelings strategy session, drop a comment below with your email address and I’d be happy to send you a copy of the PDF file. Hope we’ll see you over in our Mastermind Group on Facebook.!

- Happy Planning!
Veronica

Does our mindset shape the way we interact in the world and our ability to be successful? Many industry leaders point to mindset and daily rituals that they absolutely live by to build their business and to build wealth. Are we limiting ourselves because of what was imprinted into our minds from a young age?

This week in the Wedding Planner Mastermind Group we’re focusing 100% on finances, money mindset, best practices and resources for experienced wedding planners. If you have 3+ years in business and are at the point where you are wondering what is next, it is crucial that focus on removing any limiting beliefs & hone in on the core of your business.

Limiting beliefs and negative associations with money can come from early childhood. A great article posted by Briana Wiest on Forbes references some tips by abundance coach Jenna Black, and Black explains that, “sometimes, the reason why we self-sabotage our earning potential is because we have some kind of attachment to playing small, or staying within someone else's concept of us.” The article shares some of Jenna’s thoughts on the top limiting beliefs that many of us can relate as well as tips for getting past fears or doubts that we place on ourselves.

“it’s important to know your why. Wanting more money for the sake of it is a pretty empty feeling, but wanting it to support your family, kill more debt, give back in a bigger way, leave a more remarkable impact, or lead in a way you’ve never been able to before... well, that’s motivating. “There’s a disconnect when people don’t know what they money is for. That’s when greed and guilt comes in.”

— Jenna Black

In our Wedding Planner Mastermind Group on Facebook, we asked the group to think back on influences from our childhood or early adult years and if these experiences had helped or hindered our relationship with money. Feel free to join in on the conversation!