The Longevity Playbook for Wedding Pros: 3 Tips to Build a Sustainable Event Business
The longevity of your event business is about more than just staying afloat in a sea of bookings. It requires a strategic shift from working in your business to working on your business. And while it can seem like success is the luck of the draw, there are tangible things you can do to ensure you’re sustainable for the long run.
Focus on productivity and internal workflows
For starters, consider that the same methods for your internal structure you started your business with aren’t necessarily going to make sense as you continue to grow. If you find yourself struggling a bit with time management and your overall workflow, it’s always a great idea to audit your processes to see where you can automate tasks and ramp up efficiency.
And I’ll say it now: doing this once every few years won’t cut it! I really recommend checking up on your tech and asking your team for feedback at least quarterly or twice a year.
Scale smartly (don’t rush!)
Every business owner’s dream is to be able to grow their business. And if you could cut back the amount of time spent in the trenches? Even better. However, it should go without saying that this won’t happen overnight, and it doesn’t mean that you’ll ever be able to fully step away from your daily responsibilities.
Forcing growth and scaling your business when you aren’t ready can be a recipe for disaster. If you’re thinking about a new offering, a new launch, or even restructuring, bear in mind that baby steps are best. Don’t forgo beta testing or ensuring that your team has the capacity for the level of scaling you’re aiming for. Not sure where to start? The Lean Start Up is a great book that will walk you through the benefits and steps for testing new ideas.
Prioritize adapting to industry changes and trends
The fact of the matter is that the industry is changing — always. Whether that’s in the form of trends or the overall landscape, you have to be prepared in one way or another. Luckily, there are a wealth of resources available to keep you on top of the latest. The Knot shares date and insights on an ongoing basis while we also follow Special Event Magazine’s annual State of the Industry.
It’s no secret that we’re big fans of industry conferences here as well- and while there are typically a wealth of topics to pick from, make sure you attend one or two sessions focusing on the latest in event trends.
Beyond that, evaluate what engaged couples are asking for. Sure, there’s a wealth of expectations you can’t necessarily (realistically) meet, but it’s helpful to keep your finger on the pulse of new trends.
Establishing good habits now, regardless of how many years you’ve been in business, can help you weather the storm through every season of the industry. We all have our highs and lows, but staying relevant and fresh will always set you apart!
