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 7: Write Cracklin’ Hot Copy
In this episode Nancy shares her best tips for creating great copy that magnetizes your ideal clients.
Learn how great copy inspires your clients to take action on their own behalf.
Episode 6: Creating a Thriving Team Culture
In this episode Anthea shares her secrets on growing an incredible team by creating a stellar company culture in order to find the best employees for her thriving business.
Learn what hiring mistakes Anthea has made along the way and what she has learned from them.
Episode 5: How To Monetize Celebrity Status
In this episode Rachel Moriarty talks about how she monetizes celebrity status to build her design empire.
Learn how Rachel built her business to attract high quality design clients, brand ambassadorship, licensing agreements and even an HGTV segment.
Episode 4: Design Files E Design
In this episode Sheilah MacSporan, co founder of DesignFiles, discusses how edesign can help you create more business, reach more clients, build better processes, streamline your design jobs and leverage your time better.
Episode 3: Strategic Social Media Strategies
In this session Darla Powell will discuss how she uses Strategic Social Media Strategies to build her Interior Design business as well as the businesses of other designers.
Join us as we discuss what is working today in the social media playground and how you, too can leverage these platforms.
Episode 2: Building An Awesome Design Biz In Rural Massachusetts
In this session Wendy Woloshchuk talks about how she built a successful Design Business in rural Massachusetts.
Learn how Wendy built her business by creating a posse of raving local fans.
Episode 1: Welcome to this Podcast and Mindset Hacks
Welcome to the first episode of Home Stagers and Designers in Fire. I am Marianne Cherico and I am delighted to be your host.
My goal is to bring you lots of valuable information that will help you grow your Home Staging and/or Design Business. This first session is a quick intro to how Mindset effects your success!
