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.
Episode 36: Pricing Strategies for Home Stagers
In this episode Catherine Lewis Brown and I will be talking about pricing strategies for Home Stagers. Pricing can be challenging for both new and seasoned stagers. Many stagers feel lost when it comes to setting prices that result in profitability. And let’s face it- profitability is Queen, right??? Join us as we discuss strategies that you might implement when setting and raising your prices.
Episode 35: Mental Toughness Through Change
In this episode I would like to talk with you about how to be mentally tough in times of change. As entrepreneurs we often have to navigate change in order to continue to grow.
Episode 34: Building a Home Staging Biz
In this episode Jennie Norris and I will be talking about how she rebuilt her Home Staging Business when she moved from California to Colorado and her best tips on building a staging biz.
Episode 33: Branding Wonderful Powerful Authentic YOU
In this episode I share insights on why it is more important than ever to build your following of ideal clients by understanding deeply who they are and conveying effectively who you are so that they choose you. People choose to work with people they know, like and trust. Learn how you can differentiate yourself from the competition, rise above the noise and become the “go to” stager or designer in your area
Episode 32: Create a Thriving Community of Ideal Clients
In this episode Judy Weber and I discuss how to build more engagement and create a thriving community of ideal clients.
Episode 31: Amp up Your Visibility
In this episode I talk with you about visibility and why it is more important than ever to be strategic about how you “show up”, who you show up in front of and why your message needs to speak clearly to your ideal clients -so that they see that you as the perfect choice for them.
Episode 30: LinkedIn to Grow Your Business
In this podcast episode I talk with Sarah Santacroce, LinkedIn specialist and heart centered businesswoman.
Join us as we discuss everything from the gentle business revolution to how to strategically use Linked In to grow your Interior Design and Home Staging Business.
Episode 29: Design for Today Collaborative
In this podcast episode I talk with Debbe Daley and Wendy Woloshchuk about our newly formed Design for Today Collaborative as well as our upcoming event on Social Media Marketing, List Building and Networking at the Boston Design Center on November 21, 2019
Join us as we discuss strategies that will help you turn followers into paying clients.
Episode 28: Vacation Rental Design
In this episode I talk about building a Vacation Rental Design Business with Jessica Duce.
Jessica has been in the Interior Design business for 15 years. She stumbled into vacation rental design 4 years ago and loves it. Her experience in residential and commercial design compliments the hospitality needs of this niche. Jessica sees VRD as a great new way to service her clients at all levels. And she is going to share her secrets for carving her way into this stream of income.
Episode 27: Websites and What You Need to Know
In this podcast episode I talk with Orlando Reyes about what you need to know about building or updating your website.
Join us as we discuss everything from domain names to hosting providers to optimizing SEO (search engine optimization) and how your website can be instrumental in building your email list and turning cold leads into warm leads.
Episode 25: Luxury Home Staging
In this podcast episode I talk with Birgit Anich about Luxury Home Staging.
Join us as and learn what it takes to position yourself as a luxury home staging specialist in your local market.
Episode 24: Deliver First Class Service
In this episode Wendy Glaister shares her philosophy on delivering first class service to her design clients.
Join us as we talk about what Wendy does to “wow” her clients, make them feel special and treat them exceptionally well so that they feel incredibly valued and important.
Episode 23: Instagram Strategies that Rock
In this episode I talk with Mark McDonough about Instagram Strategies That Rock.
Join us as we talk about how to use this social media platform in order to grow your Interior Design or Staging Business.
Episode 23: Sleep Well with Solid Contracts and Processes
In this episode Debbe Daley of Debbe Daley Designs, Wendy Woloshchuk of Details Full Service Interiors and I are going to discuss some of the things that may come up in your design or staging business that may cause you to want to reconsider your processes or contracts so that you feel prepared for situations that you hadn’t thought about.
Episode 22: Profitability in a Changing Design World
In this episode Veronica Solomon discusses Profitability in a Changing Design World. Join us as we talk about how Veronica, an incredibly talented and self taught designer, stays profitable by running her business her way
Episode 21: Insights from a Well Designed Business
In this episode LuAnn Nigara shares insights that she has learned from interviewing hundreds of Interior Designers and Home Stagers on her Insights from a Well Designed Business.
Join us as we talk about what makes these leaders in the design field so successful.
Episode 20: Building A Lucrative Staging Consult Biz
In this episode Bobbie McGrath shares her secrets to building a lucrative occupied consult biz.
Join us as we talk about how this simple, low overhead business model can be your secret weapon to creating more revenue-the easy way.
Episode 19: 7 Steps to Enlist Real Estate Agents
Learn how to build your Home Staging Business by enlisting Real Estate Agents to use your consult services and promote you to their sellers.
Episode 18: The Benefits of Group Coaching
In this episode Laurie Mattson, Jennifer Dorsey and Tamara Grant discuss the benefits of Group Coaching.
Join us as we discuss how being in my group coaching program has impacted their business.
Episode 17: Psychological Selling
In this episode Dr. Nancy Zare shares her model for psychological selling.
Join us as Nancy enlightens us on why identifying and understanding different personality types helps us to build better relationships and “sell” our services more effectively.
