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
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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.
Episode 107: Lessons Learned Making Six Figures in the First Year of Home Staging Business
Prior to launching Genesis, Joke was a licensed Real Estate Broker. Joke’s work ethic was shaped by her early years growing up in Lagos, Nigeria where she was surrounded by inspiration and an expectation of excellence.
Episode 106: From Teacher to Investor to Home Stager
In my latest podcast episode of Home Stagers and Designers on Fire I talk with Andrea Bryant of Staged Right in Tampa, Florida. Andrea has been involved with most facets of real estate over the past 20 years from rehabbing to real estate sales and now home staging.
Episode 105: How Yoga Impacts Your Life and Business
In my latest podcast episode of Home Stagers and Designers on Fire I talk with Donna Morrin. Donna is a 500 hour certified yoga instructor trained in the Tantra lineage, and holds additional certifications in meditation instruction and somatic therapeutic techniques. Donna travels around New England teaching people how to get back into their bodies and find peace in the chaos.
Episode 104: How to Run a Staging and Organizing Business
In my latest podcast episode of Home Stagers and Designers on Fire I talk with Ashley Rapp. Ashley is the Owner of HELLO! Staging+Organizing and an Accredited Staging Professional as well as an Expert Organizer. Ashley helps potential buyers envision themselves living in the home repurposing what the client already has while also removing the excess items that overwhelm the space.
Episode 103: Musings on Marketing and Selling
In my latest podcast episode of Home Stagers and Designers on Fire I discuss my thoughts and strategies for marketing or “selling” your Home Staging or Design services.
Episode 102: Business is an Inner Game Job
In my latest podcast episode of Home Stagers and Designers on Fire I discuss why inner game alignment is always the foundation for business success. When you are growing your business you must grow as a person.
Episode 101: Get Great Results with Staging Consultations
In my latest podcast episode of Home Stagers and Designers on Fire I discuss how I get great results for my Sellers with my staging consultations. Most of my consultations are paid for by Agents who refer me over and over again.
Episode 100: Reflections on The Dance of Life and Business
In my latest podcast episode of Home Stagers and Designers on Fire I reflect on both the good and bad in life and business since my husband died in March 2022. It’s been a challenging year and yet I have grown personally and professionally in so many ways and I want to share with you what resilience looks like for me.
Episode 99: The Key to Profitability for Interior Designers
In my latest podcast episode of Home Stagers and Designers on Fire I interview Nancy Ganzekaufer. Nancy is a sought-after Interior Design Coach, Certified Body Language Training Professional, Keynote Speaker and Author.
Episode 98: How I Get Over 95% of my Business from Agent Referrals
In this episode I talk about how I built my staging business, since 2005, by getting over 95% of my business from Real Estate Agent Referrals.
Episode 97: The Social Savvy Stager
Welcome to episode #97 of Home Stagers and Designers on Fire. In this episode I interview Heather Cook, a multi-award-winning Home Stager with over a decade of experience in building and running one of the most successful Home Staging companies in Canada.
Episode 96: Running an LA Home Staging Business
Welcome to episode #96 of Home Stagers and Designers on Fire. In this episode I interview Robin DeCapua,a home staging specialist with over a decade of experience.
Episode 95: Create a Business That is in Alignment with Your Core Values
In this episode I interview Dawn Drew, a successful business owner and entrepreneur in Raleigh, NC. As a Home Stager, Designer, House-Flipper, and NC Real Estate Agent, Dawn’s commitment has always been to personal growth, her own and those around her.
Episode 94: Business Productivity Consultant
Check out my latest episode of Home Stagers and Designers on Fire. In this episode I talk with Shanice Miller, a Business Productivity Consultant with Taskly Group
Episode 93: Cape Cod Designer and Stager on Work Life Balance
Welcome to episode #93 of Home Stagers and Designers on Fire. Donel Beals has been one of my coaching clients for 5 years and has built a thriving Staging/Design business on Cape Cod.
Episode 92: Team Collaboration Business Model- Staging Company
In this episode I interview Monica Murphy of Preferred Staging serving Northern Virginia, Washington DC and suburban Maryland.
Episode 91: Designing Model Apartments
Jodie started her staging business in 2017 and has pivoted into residential and commercial design targeting multi family property management groups. Her specialty is providing luxurious model apartments, working community areas as well as outdoor rooftop lounges and leasing offices.
Episode 90: How to Win the Business of RE Agents and Broker/Owners
In this episode I interview Jennifer Mello, Massachusetts and Rhode Island Real Estate Broker and owner of the Mello Group. Jenn has been a well respected, top performing agent since 2005.
Episode 89: Leading a Fulfilled Life and Business
A fulfilled life is sometimes described as being perfectly alive, filled with purpose and satisfaction, involving vision and requiring intensive alignment with what you value most—a highly meaningful life. And a highly meaningful life means something different for everyone
Episode 88: Concierge Home Staging, Estate Sale, and Real Estate Business
In this episode I am delighted to talk with Tracy Molendi. Tracy started her business as a Professional Organizer. She then added Staging Services, Design work, Senior Downsizing, Estate Sales, and a Retail Store to her menu of services.
