After this Episode Blog You will Have the Information to Hire with Confidence in Your Wedding Business

Learn how to hire with confidence! In this episode, I share a quick clip from the Wedding Pro CEO, high-level mastermind group, the Inner Circle community.

One of my students, wanted to know if she would be making the correct decision by hiring a full time team member.

When you listen to the episode did you notice how quickly, confidently and clearly the data presented the solution? That is the power of the Point System.

Instead of getting stuck in analysis paralysis, notice how you can make this decision incredibly quickly by knowing your numbers and implementing the point system that I teach my clients.

Here’s how you can apply these insights to your business.

“Ditch the overwhelm and build a business you love. With our point system, you can confidently hire and scale your wedding business, knowing exactly how it impacts your bottom line.” – Brandee Gaar

Step 1: Know Your Numbers so You Can Hire with Confidence

First things first, you’ve got to understand your money. Here’s how:

1. Revenue Goals: How much money does your business make?
2. Costs: How much do you spend to run your business?
3. Profit Margins: How much money do you have left after paying your costs?

Step 2: Figure Out If You Can Afford to Hire

Next, you need to see if you can afford to pay someone a full-time salary. Here’s a simple way to do it:

1. Salary Needed: Decide how much you need to pay your new team member. For example, let’s say $60,000 a year.
2. Double the Salary: To make sure it’s worth it, I teach that your new hire should bring in twice their salary in business. So, $60,000 times 2 equals $120,000.

Step 3: Check Your Current Workload

Now, see if your current business can handle this:

1. Wedding Volume: Do you have enough weddings to make that $120,000?
2. Pricing: Based on what you charge, can you hit that revenue with the weddings you have?

Step 4: Use the Point System and Hire with Confidence Every Time

I developed a method to figure this out using a point system. It’s like a game!

1. Point Value: Each point equals a certain amount of money. Let’s say 1 point = $3,400.
2. Points Needed: To make $120,000, you need about 35 points (because $120,000 ÷ $3,400 ≈ 35).
3. Hours per Point: Each point takes a certain number of hours to complete. If 1 point = 30 hours, then 35 points = 1,050 hours.

Step 5: Plan Your Time

Make sure your new team member has enough time to do the work:

1. Wedding Hours: If 60% of their work is weddings, they need 1,050 hours for weddings.
2. Total Work Hours: Ensure their total work hours fit this plan. For example, if they work 2,080 hours a year (40 hours a week), 1,050 hours for weddings is just about right.

Real-World Example

In the episode, I walk my student through this exact process. She figures out she needs her new hire to make $120,000, which equals 35 points or 1,050 hours of wedding work. By making sure 60% of the new hire’s time is spent on weddings, it becomes clear she can afford the hire.

Strategic Planning for Growth

As the CEO, it’s also your job to step back from doing all the weddings yourself and focus on growing your business. This might mean doing fewer weddings and letting your new hire take over. Planning your budget with this in mind will help everything run smoothly.

Key Takeaways

1. Understand Your Money: Know how much you make, spend, and keep.
   
2. Use the Point System: Turn your work into points to see if you can afford new hires.
   
3. Plan Your Budget: Make sure your budget can handle new salaries.
   
4. Revenue Goals: Ensure new team members bring in enough money to justify their pay.
   
5. Community: Join a community of like minded wedding business owners. Learn and share from each other and grow your business faster than you would ever do it alone.

Before We Go

The Wedding Pro CEO Accelerator was created to help wedding pros build profit, increase revenue and strategically grow your team.

In this community you will learn to understand your numbers, use strategic systems, like the point system, hire with confidence and plan your budget wisely. (just to mention a few)

No more agonizing and feeling like the whole business will implode if you make a mistake.

Want to dive deeper into these strategies? Connect with me on Instagram @brandeegaar. I’m ready to help you understand your numbers and grow your wedding business.

“In the wedding industry, making data-driven decisions is key. Discover how our point system can guide you in hiring full-time team members and boosting your profitability.” – Brandee Gaar

Follow the Wedding Pro CEO podcast for more insights and start transforming your wedding business today!

Thank you so much for being here, and I can’t wait to continue this journey with you.

Ready to Build Your Profitable Business?

Join the Wedding Pro CEO Accelerator: A 6-month program for established wedding pros who are ready to ditch the overwhelm, create consistent profit, build their dream team and confidently grow their revenue to $100k/year and beyond.

💌For business inquiries: sayhello@weddingproceo.com