In this episode I interview Steven Denny, a partner at Innovative Business Advisors and the coauthor of the book You Don’t Know What You Don’t Know
This book details the steps to take in order to build a profitable Home Staging business and one that has a strategic exit plan. As a business Advisor, Steve was hired by Liz Connolly, his coauthor, when she was planning on selling her Home Staging business, In the intro to the book Liz mentions that various components are taken into consideration when assigning a value to a business. It is not just about the numbers or the inventory, there is much more to it. She goes on to say that her business sold for more than twice the valuation provided by her accountant and she attributes that to hiring Steve.
The book walks you through the steps from building a staging business to selling the business.
As with anything it is important to start with the end in mind. As you build your business it is important to put the structures in place so that when you are ready to sell, you can sell for a higher price.
In this episode I talk with Steve about just that.
Listen to the podcast below or subscribe on Apple, Spotify and most major podcast platforms.
In this episode you will learn:
Why it is different selling a Home Staging company
What business advisors look for when deciding on the value of a Home Staging Company
How different phases of your life change the way that you look at success
How our brains sabotage us when we start to lean into our big vision and goals and why it is so important to call out these saboteurs
Why good financial statements are so important
What does “owner freedom” mean and how does it impact that value of your company
The difference between a Buyer who wants a job or wants to own a company
The 8 steps of value Steve looks for when determining what a business is worth
What to do if you want to sell your staging business in 5 years
3 different Buyer personas and which one is the easiest to sell to and finance
Why financing a staging company may be easier than you think
How to track and document your inventory usage in order to put your inventory to work for you
The 8 steps of value Steve looks for when determining what a business is worth
What questions you should be asking your accountant
The 2 most important numbers to look at every day
The best source for lenders for Buyers looking to buy a Staging Business
How SCORE can help you with your business (and it is free)
What banks look for when deciding whether to lend money to a potential Buyer and Steve’s “Bankability Method”
What Steve does as a business advisor for a staging company and how he is compensated.
Xo Marianne
Interested in coaching with me?
Set up a complimentary coaching discovery session to see if coaching is for you!
I would love your review! If you enjoy what I share in this episode, please leave a review and comment on iTunes. I would really appreciate it. Thanks!
Connect with Steve:
Book a call- https://ceo2ceo.coach/register.html
Website-https://www.innovativeba.com
Private Coaching- https://www.ceo2ceo.coach
Book –https://www.youdontknowwhatyoudontknow.com
Community-https://www.www.dontflyalone.com
Connect with Marianne:
Set up a coaching discovery session to see if coaching is right for you.
Website– https://coachingbymarianne.com
Join my FB Group- Fire Up Your Home Staging Business: https://www.facebook.com/groups/fireupyourhomestagingbusiness/
FB Group-Design for Today Collaborative- https://www.facebook.com/groups/DesignForTodayCollaborative
Visit my FB coaching page- https://www.facebook.com/CoachingByMarianneCherico/
Join my Linked in Group- Interior Redesign, Decorating and Real Estate Staging Professionals here.
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In this episode of Home Stagers and Designers on Fire I talk about how I might 10x my efforts in order to get better results winning the business of Real Estate Agents. Listen to the podcast below or subscribe on Apple, Spotify and most major podcast platforms....
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In this episode of Home Stagers and Designers on Fire I talk with Kristyn Perreira of Reforma Interiors. Her journey began with Home Staging, where her keen eye for space, color, and style earned her numerous awards and recognition. Today, she is a trailblazer in the...
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The recent settlement with the National Association of Realtors has caused quite a stir and many Home Stagers are curious about how this might impact their business. In this podcast episode of Home Stagers and Designers on Fire I explain how the settlement will change...
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As a New Home Stager it can be overwhelming to decide what to focus on in order to grow your business. And it is easy to get caught up doing things that can wait and not doing enough to get business in the door. Let’s face it….we all want to do what feels comfortable...
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Have you ever wondered how AI might help you improve your design skills, work more effectively, work remotely, leverage your time or streamline your processes. Have you heard of Chat GPT but don’t really know much about other ways you might incorporate AI into your...
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If you are confused about where to put your marketing efforts for optimal results, this episode is for you. In this episode I interview Heather Cook of the Social Stager and she goes into detail about her top 10 marketing strategies. Listen to the podcast here: In...
