Creating a Profitable & Sustainable Home Staging Business with Profit First Coach Michele Williams | The Home Staging Show Podcast Season 9 Episode 10
About Today’s Show & About Michele
For the final episode of season 9, we’re talking about the business side of home staging and why it’s so important to focus not just on your revenue, but on your profit margins. I speak to a lot of new stagers with questions about how much profit they should be making, whether they should buy or rent furniture, and other important business considerations. To talk all about profit and building a sustainable, healthy business, we’re joined by the brilliant Michele Williams!
Michele Williams is sought after for her ability to easily explain complex business principles and processes in a simple, straightforward way. With a varied background in working in small, medium and large businesses, Michele has a great grasp on the scalability factors that are essential to growing a business.
As a certified Profit First professional, Michele strives to help creative business owners focus on the financial health and profitability of their companies. Pricing, profits, process and procedures are important – but can be difficult for the creative entrepreneur to implement. Michele has proven strategies and mindsets to overcome these obstacles, and she can give every business owner a healthy dose of confidence along the way.
Michele offers up so much great advice in this episode. She shares her background in business and explains how the Profit First model works and why she thinks it’s such an effective way to manage the cash flow of your business. She also talks about several common of cash flow problems, net versus gross profit, and why many business owners choose to keep their companies small and nimble rather than scale them up. We also discuss whether new stagers should buy their own inventory and why you should classify your inventory as an asset. And we get into some super useful stuff about mindset, things that hold us back in business, and how you can increase your net profit.
Just a quick reminder that back by popular demand, I am going to do an encore free online training on how to step up your home staging game! I took the most commonly asked questions about home staging and interior styling and broke them down into 4 strategies. I am going to be sharing these 4 strategies on the free online training, which is going to be on July 30th, so you can improve your home staging skills and win more clients. We are going to talk about:
The number 1 mindset block that sets you back and knocks down your confidence as a home stager
How to develop that trained eye to keep your staging looking sharp, on point and on trend
How to refine you staging work so you can do the next level fun thing, like using bold colors or going after the luxury market
How to figure out furniture, art, accessories placement in the room every time
When you sign up, I will also send you a FREE TIP SHEET on my top 10 favorite home staging accessories and some sourcing tips. I will also be giving away something huge on the free training. So be sure to check that out.
You can also go to CashInTheCushions.com to sign up right now. About 300 people have gone through the training!
On today’s show, we discussed:
Why you should focus on profit margins over total revenue.
How the Profit First model works to simplify and set aside your cash flow for clear purposes.
Why cash flow is so important and some common misconceptions about it.
Common causes for cash flow problems.
What new stagers should keep in mind when building their inventory.
How our pricing can be an expression of our mindset about money and business.
How to determine how much profit you need and how to determine a profit margin for a job.
How business owners can increase their net profit.
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LISTEN TO TODAY'S SHOW
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