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 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.
Episode 16: A Fun Overview of Feng Shui
In this episode Christina Rodriguez enlightens us on the principles of feng shui.
Join us as we talk about how the flow of “chi” energy in your home effects money, success, romance and so much more. And learn how you might use these concepts in staging or design jobs.
Episode 15: The Marketing Journey
In this episode Michelle Binette discusses her journey from a marketing career to an Interior Design business.
Join us as Michelle shares her golden nuggets of wisdom on the path to build her career.
Episode 14: Marketing Your Interior Design Business
In this episode Claire Jefford discusses how she found and embraced proven marketing strategies that have helped her grow her Interior Design Business.
Join us as we talk about how to become more compelling in your marketing by finding what works for you.
Episode 13: How Confidence Impacts Your Marketing
In this session Kate the Socialite and I will discuss how confidence impacts your marketing.
Join us as we talk about how to become more compelling in your marketing by overcoming fears and limiting beliefs and sharing your authentic voice.
Episode 12: Mindset Hacks For Selling Your Services – Part 2
Marianne Cherico discusses mindset hacks that help you “sell” your services without feeling salesy. You will learn how to do a deeper dive into what your clients really want, how to be clear about the benefits that you offer, how to handle fear and so much more
Episode 11: Mindset Hacks For Selling Your Services – Part 1
In this episode Marianne Cherico discusses mindset hacks that help you “sell” your services without feeling salesy. You will learn how to do a deeper dive into what your clients really want, how to be clear about the benefits that you offer ,how to handle fear and so much more!
Episode 10: Video Strategies That Rock
In this episode Tori Toth discusses specifics about how to use different video platforms to grow your business. Whether your marketing and visibility strategy focuses on You Tube, Facebook, Instagram or Linked In, it is important to be intentional about how to use each of these platforms for optimal results. You will learn best practices for leveraging video in social media and so much more!
Episode 9: Reno Project Management
Join us as we discuss Debbe Daley’s approach to renovation, how she mitigates liability for contractors while overseeing projects, how packages help set up client expectations better, and so much more!
Episode 8: Secrets to Buying Wholesale
If you would like to start buying furniture and accessories for your home staging company, this is the episode for you.
You will learn what to ask yourself before you start investing, what you will need in order to open up accounts, what home stagers should invest in, what inventory and financial management systems Michelle recommends, how to price for rental furniture and so much more!
