About This Lesson:
Congratulations you boss!
You’ve made it to our last lesson, Lesson 5!
Getting more bookings is great, but sustainable, predictable growth is the real goal.
What you want is a business you can really rely on, with a proven formula that works. In our final lesson, we’ll teach you how to setup your wedding venue business to succeed for many years to come.
Estimated Time Needed For Lesson:
What You’ll Learn:
In Lesson 5, today’s lesson, I want to teach you how to maintain sustainable growth over time so that you never have to worry about leads or sales again. I’ve run my business for years and it has only been the last few years that I’ve felt I had a sustainable, predictable business that I could always count on. That is an amazing feeling and I think every wedding pro should aspire to making their business into a predictable income generator.
I don’t want you to ever have to worry about if you are going to be able to pay your bills. To do that, I’m going to show you the importance of measurement in order to turn your business into a predictable machine. It’s a simple concept but one that can make a huge difference in your wedding venue and your life.
A Quick Recap:
So far we’ve shown you how to get leads in Lesson 1, how to get more replies (and bookings) in Lesson 2, how to follow up to get more bookings in Lesson 3 and even gave you the exact email templates we use when we email potential clients in Lesson 4.
Basically, we’ve shown you how to get leads, how to respond to them, how to follow up with them and even the emails you need to send. We’ve given you the entire package. I’ve also shared some of my business philosophy with you which might feel a bit “out there” but if you think about it, I hope you’ll agree that what I’m suggesting makes sense.
Life is just too short to spend time doing mundane tasks you don’t love. As well, sales is just too important to leave to chance or to do an O-K job of. Even if you have more bookings than you need, following our approach will still be extremely useful because our tools will enable you to raise your prices (if you have more leads, you can afford to take more risks and raise your prices).
If you are a new wedding venue owner, our approach also works because you now know how to get leads. Once you have those leads, you know they are too important to let slip away and you’ll want to follow up with them automatically while you build your business in other ways.
If you are a very large wedding venue business, then the process we taught will definitely make sense for you because you are going to be following up with and booking a very high number of leads.
No matter what size of wedding business you have, it’s important to outsource mundane tasks to technology so that you can free your mental space and energy to focus on growing your business. You want to work ON your business, not in it and you definitely want to spend your precious time doing what you enjoy.
(Just a couple of zen’d out wedding pros, thinking about business philosophy)
Track What Matters
The key to being able to predict where your business is going is to know where it’s been. You just need to know a few key numbers to be able to predict how you are going to do in the future.
• How many website visitors do you have each month?
• How many new leads do you get each month?
• How many phone calls/consultations do you have each month?
• How many sales do you get each month?
This is important because website visitors turn into leads as we learned in lesson 1. Then, leads either disappear or they get back in touch with us as we learned in lesson 3. Then, people we get in touch with become sales.
If you know how many website visits you get, and you know how many leads you normally get from those website visits, you know that if you get more website visits, you’ll get more leads. If you know how many leads you normally get, and how many of those leads normally turn into phone calls or consultations, you can focus on developing ways to get more phone calls or consultations. If you know how many consultations you need to get a sale, you know how many sales to expect based on the number of consultations you have scheduled.
Here’s An Example:
Christy is a photographer. Here is how Christy tracks her business:
• She gets 100 website to her website visits per month
• She gets 10 leads per month
• She gets 5 leads that turn into consultations
• She closes 50% of her consultations
So how many sales can she expect?
Well, she can expect 2.5 sales a month. Sometimes, 2 sales, or sometimes 3.
How Christy Knows If She’s On Track
If Christy sees that she has under 100 website visits, she can expect to get less leads. If she gets less leads, she can expect less consultations. If she gets less consultations, she can expect less sales. Therefore, if she just measures these 4 critical numbers (site visits, leads, consultations and sales), she knows the health of her business in advance of the actual bookings coming in. For instance, she might know on week 1 in January if website visits are down, which would be an early signal that if she doesn’t get more website visitors, she can expect low sales in January.
As well, Christy knows if she is going to grow her business (by booking more gigs or raising prices, either one works) because if she is getting more site visits, more leads, more consultations or more sales, she is going to grow!
This is the reason I placed such an emphasis on the following so far:
• Getting more leads
• Getting more replies
• Following up more (to increase consultations and sales)
• Using the right messaging (to increase consultations and sales)
(If you are looking for more ways to get more website visits and leads, check out this post)
Ain’t Nobody Got Time For That
I know what you are probably thinking… “who has time for all this?” and I agree with you. Thats why again I’d like to go back to my business philosophy (zen-master Bob) and remind you that it’s okay to make investments that free up your time to do the things you actually like. When we do what we like, we are so much more productive. We also enjoy our work more, which gives us more inner strength when things get hard. It also frees up your mind to think bigger and tackle bigger problems when small, tedious things aren’t taking up mental space. If you are wondering what I recommend, you guessed it, I use www.eventtemple.com to track all of my leads, replies and sales every month AUTOMATICALLY. You can even do this with the freemium version of the product which also has stats including email tracking, leads and sales tracking.
Congratulations, you’ve made it to the end of our course. I’ve accomplished my goal if you are feeling inspired, educated and ready to grow your wedding venue. Growing your business doesn’t have to mean you get more bookings or raise your prices. It may just mean that you have more peace of mind if that’s what you’d like. But if you want to expand and book more subcontractors and employees, or you want to raise your prices, I’m extremely confident you will be able to do that with this training too.
To sum up, you should now know how to get free leads. You should also know what emails to send them, that following up very quickly is important and that following up consistently is going to win you more bookings. You also now have the right emails to send and you can also be very confident that they will work for you as they have been tested and proven to book more weddings.
Why I’m Doing All Of This
I hope more than anything, I’ve encouraged you on your path and helped you think of your business in a way you didn’t previously consider so deeply. Sales is everything to a wedding venue, but let’s face it, most of us just hate that part of it. That’s why I built Event Temple and have spent so much time working with my Co-Founder, staying up late at his place developing the product. It’s also why I’ve written this course and so many other blog posts and have even taught myself to code. It’s been a lot of hurdles to get this built, but I wouldn’t have gotten so involved if I wasn’t absolutely sure I didn’t have to build it.
I had to spend thousands of dollars on a very sophisticated business course to learn all of this and at that time, there was no sales tool for the wedding industry, so we built it. Even now, there are only CRMs that manage your bookings who have handled sales as an after thought and then tools like WeddingWire and the Knot which help you to get the actual leads. Start with the free version and give it a shot. Commit to the process and I guarantee you will see results. As well, please remember that this is a long-term process that you have to turn into a habit for it to really work for you.
I’d like to take this opportunity to thank you for taking our course and please give me any feedback on it at bob (at) eventtemple (dot) com. Thanks and I’ll see you at the next course!