This article was written by WeddingWire Education Guru Alan Berg, CSP. Alan has over 20 years experience in wedding related sales and marketing, and is an author, business consultant, a member of the National Speakers Association, and the wedding & event industry’s only Certified Speaking Professional®. Learn more at alanberg.com.
I’ve had several conversations recently with established wedding professionals that were reconsidering their business size. Rather than looking for ways to get bigger, they were downsizing – on purpose. The most recent business was an entertainment company downsizing from a staff of 6 down to just the owner. I’ve heard this from planners and photographers, and other wedding pros. There are many reasons feeding this particular DJ’s decision, from wanting to simplify his life to being able to spend more time with his family. It’s what’s right for him and his family.
What’s right for you?
The only vision of your business that matters is yours. From however many weddings and events you do to how much money you make, the goals and targets you set should be your own. There’s no magic number that’s right for everyone in your market and category. Just as with the example above, there’s more to your decision than just money. I once had a wedding pro tell me that he wanted to do 250 weddings per year. I asked him why 250? He said that he felt it would present him as more successful to his peers. The problem with his strategy was that he was taking on lower-dollar, lower-profit business to increase his volume. While his total number of weddings was going up, his bottom line wasn’t. He’s since backed away from that and is happily doing fewer weddings.
Too many people try to model their businesses after others they see or, as with the previous example, they try to chase an arbitrary number. There’s nothing wrong with aspiring for more, just be sure to do it for the right reasons and get all of the facts. From the outside, other businesses often seem smoother and more successful than they really are. A common analogy is of a duck, gliding smoothly across the water, while it’s paddling like mad under the water. That happens a lot on social media, as we see a skewed view of people and businesses. Their triumphs are plastered for all to see, while their failures never make it to their posts and tweets.
What’s the right number?
If you’re currently doing 25 weddings per year and you want to get to 50, how are you going to get there? If you only want to personally do 25 weddings, who’s going to do the rest? Are you already getting so many leads that you’re turning business away? If not, then you’ll need to get more leads, which means increasing your marketing, advertising, and networking efforts. If you’re getting multiple leads for the same days, then you can’t double your number of weddings unless you staff-up. One person can’t be in two places at once.
I was consulting with a DJ company who told me he wanted to get from his current rate of 200 weddings per year up to 500. I told him that getting more equipment was easy. Getting more DJs, since he was already a multi-op, was a little harder – but still doable. The questions he needed to answer included:
- How much could he afford to increase his marketing budget to extend his reach?
- What were his plans for a new website?
- How was he going to get enough leads to be able to close 500 weddings per year?
- Who was going to handle the thousands of leads he’d need to close 500 weddings?
- Who was going to oversee all of those new DJs and jobs?
- What affect would that have on his family life?
Find the balance
What each of us needs to do is find the balance between size and profitability. Doubling the number of weddings you do may feed your ego, but if it doesn’t also feed your family, what’s the point? The key is to build a stable, sustainable business model, while also having time to enjoy the fruits of your labors. Don’t build someone else’s idea of your business. Build the one you can not only be proud of, but the one you’re going to want to run, day in and day out.
Now that my kids are grown, I’m grateful that this industry has afforded me the time to spend with them when they were younger. I’m also grateful that we’re in a recession-resistant industry. While things change every year, people are still choosing to get married – and if they’re choosing to have you be part of their wedding, you should be proud, and grateful, too.