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Inside Makeovers - How to Successfully Grow and Transform Your Property Styling Business

Belinda Woolrych

 

Verlag BookBaby, 2018

ISBN 9780992435752 , 178 Seiten

Format ePUB

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11,89 EUR


 

As you will discover, my most significant learnings over the past decade have determined the content of this book and the number one reason I have written this book is to share them with you.
If you are already running your own property styling business, you may decide to implement some of the suggestions in this book to take your business to the next level. If you are not operating your own business, this book will give you an excellent overview of everything you will need to consider when you build your own brand, if you choose to take that road.
You will find the topics shared in this book are not taught in design schools. You would have to source the combined information from our industry experts from many separate books.
As most business owners have done, I have spent many years learning from the good and bad times. Fortunately, I have come to understand any mistake I have made is a gift so I can learn, improve and move on.
So, let’s begin by thinking about your current business, or if you’re considering starting a makeover business. I would like to ask the following questions:
Do you love what you do every day?
Do you and others value your time and expertise?
Are you making good money?
Do you know what your business is worth?
Do you have a great team?
Can you relax on holiday while leaving a team member in charge?
Are you successful at finding the right sort of customers?
If you are not able to answer positively to all of these questions, you may need to think about creating change or merely implementing a solution that can turn your current situation around.
The following topics I have chosen to outline are the ones that have helped me build my business and accelerate my personal growth the most. They are:
Doing more of what you love
Valuing yourself and your time
Being clear about your business niche
Doing What You Love And Valuing Yourself and Your Time
I remember a pivotal moment I experienced in a professional development course I attended around four years ago. I was asked a question by the facilitator that stopped me in my tracks. The question was “How much do you want your salary to be?” It was a simple question, but meaningful for where I was at in my own business and it made me ask myself the question, “How much do I value myself?”
After coming from a corporate role with very defined job descriptions and pay scales by grade, I had moved into starting my own business from scratch and with that came many unknowns and competing responsibilities.
So now I had to work out how to run an entire business and undertake every facet of operation myself (or so I thought), as well as creating cash flow. I had to work out what my desired salary was and understand what my ‘billable hours’ were. Once I had worked out what my expected salary was to be, I had to then calculate my hourly rate, minus all of the hours in the year / month / week / day that I would not be working.
During the business session, we completed a very beneficial exercise that really helped me separate myself from my tasks. Let’s call it the ‘Separation Exercise.’
I was asked to put some thinking music on and write a detailed list of everything I was doing on a day-to-day basis at work. In no time, I had everything listed, from invoicing to collecting the mail, to my Initial Appraisal service. I was then asked to highlight what the non-specialist and repeated tasks were.
I was then asked to create three columns to outline the tasks within our business. The list on the left-hand side was a complete list of all of my daily ‘tasks’. The middle list, column two, was where I needed to transfer the left hand items to under my name as the 'Specialist'. Then column three was where I needed to transfer the left hand items to under 'another person', whether that be a staff member, contractor or specialist (e.g., trainable, repeated and non-specialist tasks). This third column highlighted all of the tasks that could be completed by a Virtual or Personal Assistant. Once we had completed this, it became incredibly clear that many of the tasks I was doing, could be either systemised or completed by someone else. Incredible, isn’t it? Such a simple task but it had such profound and enlightening results.
At this point, I knew that if I wanted to grow my business and charge at my desired rate, I needed to hire an assistant to help with non-specialist and repetitive tasks - and right there, in column three, was their job description. I had created it just like that!
I urge you to try this separation exercise yourself. It is essential to be able to separate yourself from doing everything within your business if you want to grow your business. The only way you can achieve this is to look at everything you do and know how to value your time.
There are two reasons to outsource and focus on doing the things you love. By outsourcing and paying someone appropriately for the non-specialist tasks, you can free up your time. You will then have more time to do more of what you love, which may be transforming properties. You can also improve your quality of life outside of work, which leads to discussing personal time on a value level. If you find you do not have enough time, it is more than likely you do not have enough team.
Now you can go through the same process on a personal level. What are the tasks you do at home that could be done by someone else? Begin by writing down all the things you do at home, identify the repeated and non-specialist tasks and prioritise them against your personal ‘high value’ and ‘can only be done by you’ tasks. Then sort them into the three columns.
For example, a typical one may be mowing the lawns versus a day trip to the markets, or a bush walk with the children, talking, connecting and enjoying the outdoor space together. It’s probably worth thinking about outsourcing the lawns as an example. This personal evaluation may help you take the next step to hire someone to help out at home.
Why is it important to delegate?
If you value yourself and understand the value of your time, you will have a good chance of maintaining your wellbeing. When you begin to look after yourself and have boundaries, you will soon notice everyone else will do the same. If you are pulled in all directions and try to do everything, you will eventually end up burning out and not feeling great. Unfortunately, I see this happen too often in this industry. Business owners work themselves into the ground.
Another area you should be particular about creating boundaries is around your working hours. If you begin working after hours, it will become a natural thing to do and you will not get any downtime. If your clients understand your working hours from the very beginning, you will minimise problems regarding your availability after hours.
In the same way you receive safety instructions from flight attendants – to apply your own oxygen mask before you help others - you will need to look after your own needs while running your business, before helping others with your services.
I really wanted to make it clear that if you are choosing to grow your business, you will need to offload some things you may feel comfortable doing and release control. You cannot do it all and still have a balanced life. This can be easier said than done. However, once you do begin to delegate, you will feel an enormous amount of relief and wonder why you did not do it sooner!
A Typical Diary Week
A typical week in a Property Makeover Specialist's diary should consist of a mix of two things. You should spend half of your time doing business networking and partnership building (lead generation work) and for the other half of your time, should be spent doing hands-on billable project work.
It has to be said a typical week is not always typical. However, I would highly recommend starting with a set framework and building around it in your own context. Starting out with your intentions and committing to a daily plan derived from a quarterly or annual plan is fundamentally critical.
You will need to know where your ship is heading as you set sail, on both a personal and business level. If you do not have any fixed plan, you may find yourself lost very quickly and you may become incredibly frustrated if you are not succeeding - especially if you are putting in the hours.
Sorting out your value model and then breaking your annual plan down to the day-to-day activities is a great way to make sure you are considering all aspects of your life which will allow you to maintain balance while you grow your business. Combine this with the right mindset and you will be a force to be reckoned with.
The Rock, Sand and Water Analogy
Now, I would like to share a ‘rock, sand and water' analogy to help you structure your diary in an effective manner. This analogy has always been a favourite of mine because it is easy to visualise and it just makes sense.
Start by imagining putting rocks, sand and water in a glass jar. If you begin by putting all of your sand in the jar first and then your water, you would not be able to fit your rocks. On the other hand, if you put your rocks in first, then your sand and then your water you will easily fit more in the jar. In...