How Sarah Made Social Bliss Events Sustainable
Hello! If you come around here often, you know that every few weeks, one of my colleagues writes to you, as diverse and inclusive perspectives are important at Ellevated Outcomes. And this week, Sarah is taking us behind the scenes of her business, Social Bliss Events – and how she’s made it more sustainable with 3 business actions. So, here’s Sarah…
A few years ago, I reached out to Julie to inquire about annual planning. She briefly mentioned the process in passing, and my ears perked up, as it was a business practice I was unfamiliar with. Also, it sounded like a retreat, and who doesn’t love a getaway? 😉
As always, Julie generously shared her expertise and mapped out the plan in a blog post. (Note: If you’re a small business owner, annual planning is a must!) Needless to say, I’ve been hooked on Ellevated Outcomes ever since.
Over the past 3 years of strategic implementation of EO’s plan, Social Bliss Events, has hit some monumental goals. We landed our biggest $$$ client to date, saw 240% increase in clients booked (don’t bother calculating 2020), and I’m working less. Yep, you read that correctly.
Let me be very clear, this is not sexy work. It’s foundational. However, it’s necessary if you want growth. You’ll need to be honest about your business’s current state to reach your goals. Also, there’s no way I could cover all of the behind-the-scenes work in one blog post. But here are the 3 sustainable strategies I implemented that I know will impact your business, too.
1. Team work makes the dream work.
You can’t do everything yourself. While I knew this, it was also very difficult (okay, maybe just for me?) to hand over my “baby”. I was trying juggle all business aspects and was wasting time, energy, and money. Once I released the burden of having to do everything myself, I hired new team members and outsourced to talented creatives.
Delegation is essential. A task that took me over an hour to finish is now completed in one-fourth of the time by our marketing guru. Seriously, quit wasting valuable time!
Also, if you’re handling all of the business tasks, you’re an owner-operator, not an owner.
2. Create an org chart.
Julie asked a simple yet profound question, “Where do you see yourself in 2-5 years?” I eagerly answered, “I want to be married and have a kid. Social Bliss is flourishing. I’m doing some business advising and public speaking.” Of course, that wasn’t concrete enough for Julie (hehe), but she challenged me to think about how SBE would fit into that narrative. Did I want to work every weekend with a family at home? How would I navigate family and work?
That led to the creation of SBE’s organizational chart. Without a clear road map, you don’t know where you’re going. The 5 year plan is to have a team of 3-5 event planners. To reach that goal, I needed to map out the steps to take today to hit that benchmark.
It’s also a great resource to share with your team that allows them to see the growth trajectory for their careers.
3. Do a profitability analysis.
This was a game changer for my business, and also the most painful (yet wonderful) part of the process. Envision an excel spreadsheet with a breakdown of your past clients. It covers time spent, materials purchased, and excitement level. After you input all of the data, you’re left with a number glaring at you. This is what you actually made.
Also, if you’re not time tracking, start today. We utilize Toggl.
I did a double take when assessing the numbers. WHAT!? I was appalled. I quickly did my homework, reassessed the numbers, and proudly increased the pricing. Within a few weeks, we booked our first client at the new rate, and I haven’t looked back.
I covered a lot of information, but can we talk about how this entire adventure started because I stayed in touch with a friend (a business development tip ;)), and because I wasn’t afraid to ask for help.
I’ve said it before, and I’ll say it again. Julie, THANK YOU for your wisdom, business expertise, and starting a company to empower small business owners. Where were you 8 years ago when SBE desperately needed you? Today, I honor you. You’ve taught me to be a savvy business owner who can make (lots of) money and do what I love. I can be generous with my resources and make decisions based on facts not feelings. I am a small business owner, and my business doesn’t run my life. Hellooooo, OOO.
For anyone who’s thinking “I need help, too!” Let’s set up some time to talk. I’ve been an overwhelmed small business owner who was unsure what to charge, and trying to juggle it all on my own. You are not alone. There is a solution, and you can grow your business without selling your soul.
