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 56: A Soulful Designer Creating Her Life from the Inside/Out
In this episode I talk with Michelle Cortizo of Cortizo Interiors. Michelle began her design career back in the year 2000. Asked by a builder in church if she could help him with paint colors, she quickly became part of his team and learned how to design large projects while collaborating with project managers and architects.
Episode 55: A Step Above Designs in Florida
In this my latest podcast episode I talk with one of my coaching clients, Amie Stepkoski of A Step Above Designs in Florida. Amy is a member of my Home Stagers on Fire Coaching Group and I have watched her go from a struggling beginner stager to a stager who is growing her business by fine tuning her messaging and getting more and more repeat business from Real Estate Agents.
Episode 54: Successful Staging, Design and Retail Business in Maine
In this episode I talk with Elizabeth Polansky of The Styled Home about how she grew her interior decorating business into a full service staging and design business with a 10,000 square foot warehouse and retail store.
Episode 53: Creating an Interior Design Business with Grit and Resolve
In this episode I talk with Beverly Ferguson of The Reflective Designer. Beverly began her Interior Design career in her 50’s. After graduating Cum Laude in The Applied Science of Interior Design in her 20’s, she put her career on hold in order to raise her daughters.
Episode 52: Playing the Business Game to Win
In this session I talk about why it is so important to pay attention to what you are thinking and doing in order to take effective action in your business.
Episode 51: From Early Childhood Specialist to Thriving Home Stager
In this episode I talk with one of my fabulous coaching clients, Nancy Safran. Nancy came to me 5 years ago after being laid off from her position as an early childhood specialist. She was at a turning point and wanted to reinvent her previous career in interior design, but she was unsure where to begin.
Episode 50: Truth Bombs from One of my Clients
In this episode I talk with one of my fabulous coaching clients, Donel Beals. Donel is a designer and home stager on Cape Cod, Massachusetts. Join us as we discuss how coaching has impacted Donel’s business and life in very specific ways. Donel hired me 3 years ago when she was re building her design and staging career after devoting the past 14 years to her family.
Episode 49: The Same Circle Method
In this episode I talk with Bobby Tsui. Bobby is an author, speaker, coach, and entrepreneur from Los Angeles, CA. He’s the founder of The Same Circle Method, where he coaches interior designers by helping them make breakthroughs in social media. He also helps them develop influential positioning in their markets so they can grow their businesses profitably while staying in their genius zones.
Episode 48: Organically Growing a Staging Business
In this episode I talk with Helen Bartlett of Refined Interior Staging Solutions. A multi award winning stager, Helen has been featured in the local Newspaper, magazines and even HGTV’s show “Bargain Mansions”. In this episode, Helen takes us on a journey of how she singlehandedly built her thriving business from scratch.
Episode 47: Growing and Scaling a Multi State Staging Business
In this episode I talk with Ryan Marsh of Onstage. As one of three partners in this multi state staging company, Ryan has been instrumental in the financial growth and digitized systems and processes that help this successful company run like a well oiled machine. If you are thinking of expanding your staging business this episode is pure gold!
Episode 46: Strengthen Your Belief Muscle
In this new podcast episode I share why actionable steps are not enough and how your beliefs either empower you to create the results that you want or they sabotage your efforts.
Episode 45: Selling – The Customer Centric Way
In this episode I talk with Nikki Rausch, CEO of Sales Maven, an organization dedicated to authentic selling, Nikki Rausch has the unique ability to transform the misunderstood process of “selling”.
Episode 44: A Multi Faceted Business
In this episode I talk with Pam Tiberia, owner of Spruce Interiors. A seasoned designer and award-winning home stager based in the Seacoast area of New Hampshire, Pam has helped hundreds of homeowners successfully style and stage their homes.
Episode 43: The Client Experience
In this episode I talk with my colleagues from the Design for Today Collaborative. Join Debbe Daley, Wendy Woloshchuk and I as we discuss how to optimize the experience for your clients from beginning to end and how to create clients for life!
Episode 42: The Art of Divine Selfishness
In this episode I talk with Brigitte Van Tuijl. Brigitte is a writer and master coach for women entrepreneurs. In the past two decades she’s helped thousands of women get clear on their true dream and make it real. Her clients have launched businesses globally, published their first books, doubled their incomes, and realized their most important goals and desires.
Episode 41: Your Brand by Design
In this episode I talk with Amber Griffiths. Amber is a Maker of Legends, and Brand Strategist of Your Brand by Design. She is a bestselling author, international speaker and sought-after Strategist to A-List and soon-to-be A-List players.
Episode 40: Racism Through Our Staging Sisters’ Eyes
In this newly released podcast episode I discuss racism with Deborah Plowden and Tamara Grant and how it effects our staging sisters in life and in business. It is so important that women support women and right now, our black sisters need us. In fact, they always have.
Episode 39: Profit First for Your Business
In this episode Michele Williams will share her insights into a Profit First business methodology to leverage your money. Join us as we discuss strategies that you might implement in your business in order to be more profitable.
Episode 38: Your Ideal Real Estate Agent Client Avatar
In this episode I am going to do a deep dive into why creating an IREACA (Ideal Real Estate Agent Client Avatar) is an effective tool to help you create more compelling emails, blogs and Newsletters in order to attract those agents who you would really like to work with.
Episode 37: A Real Estate Agent’s Perspective
In this episode Tony McDonnell and I will talk about how Home Stagers might approach Real Estate Agents, which agents to target, how to stand apart, the #1 misconception agents have about staging and what to do if agents don’t get back to you.