Two Keys to Growing Your Business Strategically

Two Keys to Growing Your Business Strategically

Last week, I wrote about the concept of growth as a dirty word, and how that’s basically crap.  Bad growth is expanding for the sake of expanding, with no consideration for your brand, your reputation, and your clients’ experience.  Good growth — strategic growth — is expanding carefully, with checks and balances in place to preserve what you’ve worked hard to build.  This kind of growth benefits your industry as a whole, because it delivers a quality service or product to more people and thus increases the demand for a similar level of quality.  It also enables you to make a better living doing what you love, which is something for which I think most wedding business owners are striving.

In 10 years, my own company has grown from two people — myself and my husband Evan — to a current total of 15, and our revenue has skyrocketed.  We’ve made a few mistakes along the way, and I believe we’ve learned from all of them.  Every choice we’ve made in terms of expanding our business has been the result of a tremendous amount of thought and planning, and has been evaluated and re-evaluated every step of the way.  Over time, we’ve identified two important keys to successful, and strategic, business growth.  And they’re actually ridiculously simple.

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Growth is Not a Dirty Word

Growth is Not a Dirty Word

I see a lot of disparaging comments made about big businesses within the wedding industry.  I’ve made a few of my own, in spite of the fact that my own company has grown exponentially in our 10 years in business.

When it comes to weddings, I dislike big-box companies as much as anyone else.  I dislike how impersonal they are.  I dislike how inconsistent they are.  I dislike how insulated the founders can be from what their clients actually experience.

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Stay In Your Lane

Stay In Your Lane

My husband (and partner in our business), Evan, was engaged in a Facebook discussion recently that veered in the direction of pricing and the lengths that some wedding business owners will go to to make a buck, even when their tactics are damaging to the industry as a whole.  I won’t excerpt the discussion here since it was in a private Facebook thread, but one thing a planner said — “stay in your lane” — really jumped out at me.  What a great, succinct way to point out what’s been going on in our industry.

As I see it, there are two kinds of expansion: that which makes sense (even if I wouldn’t make the same choice), and that which dilutes your brand and diminishes the quality of your core service.  Decor companies offering lighting makes sense to me.  Florists offering candy buffets, venues offering invitations, and DJs offering photobooths, not so much.

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