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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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.
Episode 76: Knowing your financials
Knowing your numbers helps you make better business decisions so that your money is working for you.
In this episode of Home Stagers and Designers on Fire I interview Danielle Hayden of Kickstart Accounting.
Episode 75: Goodbye 9-5
In this episode of Home Stagers and Designers on Fire I discuss how to leave your fulltime job in order to start a staging or design business. Many of the women I coach are in transition. They want to leave their job and make sure that they are setting themselves up for success.
Episode 74: Price your services with an empowered mindset
In this episode I talk about how to strategically price your services with an empowered mindset. Pricing is such a hot topic and something that stagers and designers often struggle with.
Episode 73: Raise prices and set better boundaries
In this episode I talk with one of my coaching clients, Laurie Mattson of Rooms with Impact. Laurie and I have worked together for a few years and it has been a joy to watch her evolve into a strong, savvy businesswoman.
Episode 72: Conquer fears and build clarity to build a business you love
In this episode I talk with one of my coaching clients, Melpo Mankin. Melpo has been in my group coaching program for almost a year. When we started working together, she had only been full time in business a few months and wanted clarity around what to focus on and what types of jobs she would be working on. She also wanted to learn how to get those jobs.
Episode 71: Bring on 2022-getting personal
In this episode I share challenges that were going on in my personal life in 2021 and how I managed to separate my personal life from my business so that I would continue to grow.
Episode 70: Wanna bring some “woo” into your systems and processes?
In this episode I am delighted to talk with Mary Williams. Mary is the Chief Technology Therapist at Sensible Woo, where she helps business owners make their data management and software systems flow with ease.
Episode 69: Pinterest Strategies to Grow Your Business
In this episode I am delighted to talk with Kate Ahl of Simple Pin Media, a Pinterest management and marketing company. Pinterest is an often overlooked marketing asset and Kate discusses how to use this platform to build your business.
Episode 68: Real Estate Agents Need You Now More Than Ever
In this episode I would like to talk with you about why Real Estate Agents need to work with Home Stagers now, more than ever.
Episode 67: Get Great Design and Staging Photos with Your Smartphone
In this episode I talk with Linda Holt of Linda Holt Creative. Linda is a certified color and interior decorating consultant.
Episode 66: How Fear Impacts Success
In this episode I would like to talk with you about how fear impacts success in our business and why it is so important to understand the fears that are not always conscious!
Episode 65: How a Veteran Stager has Adapted to the Needs of her Ideal Clients
In this episode I talk with Michelle Finnamore of Michelle Finnamore Interiors LTD and Advantage Staging. Michelle has been staging since 2007 as well as redesigning homes once the seller has moved into their new home.
Episode 64: Creating Multiple Streams of Income
In this episode I talk with Bridget King of Captiva Design in Southwest Florida. Join us as we discuss how to create multiple streams of income in your staging and decorating business and how that helps you stay profitable (even through a pandemic).
Episode 63: Linked in Strategies for Stagers and Designers
In this episode I talk with Karen Yankovich about how home stagers and designers can leverage Linked In to build their business.
Episode 62: Best Friends And a Staging Business
Liz Larson and Jan Poulain from Perfectly Placed for You are my guests. Join us as we discuss how they built their successful Massachusetts Staging Company by adhering to their core values- friendship and fun.
Episode 61: How To Navigate High Point Market
Debbe Daley and Wendy Woloschuk, my Design for Today Collaborative colleagues discuss how to navigate High Point market.
Episode 60: Sell Staging In Any Market
In this episode I share insights on how to “sell” your staging services in any Real Estate market. Whether you are in a hot Sellers market or a Buyer’s market, the way that you position your services is more important than ever. Learn what to say to agents and sellers so that they see the value of staging.
Episode 59: Combining a Staging and Real Estate Business
In this episode I talk with Adrienne Lord of Staged to Sell. Adrienne shares her experience of owning a Real Estate Brokerage that includes a full service Home Staging component
Episode 58: Build Know, Like Trust with Video
In this episode I am talking with Aaron and Angela Bell of Smartphone Video Formula. I met Angela and Aaron in a coaching Program that we are all in and loved how generous they were to other members in the group. And so I set up a time to meet with them in order to get to know them better and we talked about how important video is when marketing your business.
Episode 57: 3 Questions Answered on Getting Business From RE Agents
In this episode I am going to answer 3 questions that I often get from Home Stagers about getting business from Real Estate Agents.
