Why Creating a Wedding Business is Right For You (3 Pros and Cons)

When it comes to starting a business, there are a lot of factors to consider. For some people, the thought of being their own boss and working from home is incredibly appealing. For others, it’s the pride of building something from the ground up that fills them with pride. And while there are definitely some advantages to starting a home-based business, there are also some potential downsides that you should be aware of before you take the plunge.

Pros

1. Low Overhead

When it comes to starting a business, there are a lot of factors to consider. For some people, the thought of being their own boss and working from home is incredibly appealing. And while there are definitely some advantages to starting a home-based business, there are also some potential downsides that you should be aware of before you take the plunge. One of the biggest advantages of starting a home-based business is that it can be relatively low-cost compared to other businesses. You won’t have to worry about renting office space or purchasing expensive equipment.

Keep in mind, though, that even though start-up costs may be low, you will still need to invest time and money into marketing your business and building up a client base. While ElopementBiz.com will help you get off the ground, it will take some time and effort on your part to really get your name out there.

2. Control over your work schedule

Another advantage of a home-based business is that you’ll have much more flexibility when it comes to your work schedule.

I started my first elopement business around the same time I had twins, and I was able to quit my full-time “traditional” job to focus on growing my business… and my kids!

However, this flexibility can also be somewhat of a disadvantage if you have trouble staying motivated and focused when working from home. It can be all too easy to get distracted by household chores or other obligations when you’re trying to work.

3. Tailoring Your Services To Your Local Market

When it comes to starting a business, one of the most important things you can do is tailor your services to your local market. By understanding the unique needs and wants of your community, you can create a business that not only meets those needs but also stands out from the competition.

By offering a higher level of service than your competitors to, perhaps, underserved or underprivileged communities in your area, you can quickly build a reputation for excellence and all-inclusiveness that will draw customers from all over.

I perform a certain number of weddings as “pro bono” each year to people I feel have had an especially difficult time. One I am most proud of was a prisoner who had found love but was denied by no fewer than 12 local preachers/pastors. It took months to get clearance to go to the prison, but I have never seen a couple more in love.

Be the change you want to see in the world!

Cons

1. The isolation of success

Let me tell ya: Being a successful business owner is lonely. You’re cut off from the water cooler conversations, impromptu happy hours, and company-wide events. Being your own boss also greatly reduces the number of people who can understand your daily stress and annoyances. You can feel pretty alone when you’re running a successful business. When I first started my wedding business, I was working from home by myself and my twin girls. It was great to be able to set my own hours and take breaks whenever I wanted, but after a while, I started to feel isolated – especially once my girls grew up and started going to school. I missed being around people and having someone to bounce ideas off of. I eventually joined a co-working space, which helped me feel more connected to the outside world and also gave me access to a community of other entrepreneurs who could relate to what I was going through. You will need to seek out ways to connect with others. The good news is you will have plenty of time to do so (See #2 above!).

2. The Snowball Effect

When you’re first starting a business, it can be difficult to find clients. You may have to work a little harder to get the word out there and build up a good reputation. However, once you start getting some clients, it can be much easier to get more. This is because word-of-mouth is a powerful thing. If your clients are happy with your service, they’ll tell their friends and family about you. And then those people will tell other people, and so on. It’s like a snowball effect. The more clients you have, the easier it is to get more. You will also get much more material for social media with each successive client, as well as 5-star reviews and other compounding factors that will funnel more and more clients into your calendar.

It may seem slow and labor-intensive at first, but it gets easier and easier as time goes on.

3. The boring stuff

Operaing a success business is 80% fun, excitement, and pride. It’s also 20% boring as crap.

The flipside to all of the creative brainstorming and marketing efforts required to get your business off the ground, there’s also a lot of boring, administrative work that goes into keeping your business running smoothly.

From keeping track of paperwork and bookkeeping, to filing taxes and staying compliant with local business regulations, there’s a lot of “boring” stuff involved in operating a small business.

Just because it’s boring, though, doesn’t mean it’s not important! Neglecting the legal and financial side of things can quickly lead to big problems down the road, so it’s important to stay on top of all the paperwork and red tape involved in running a business.

This is why you are earning the big-bucks, though. You are handling all the roles you used to “pay” for by having a much lower salary at your traditional job. You’re the boss, so it’s part of your boss pay to do this boring stuff nobody else has to.

There are many pros and cons to opening a home-based business. The freedom and flexibility of working from home can be great, but it also comes with its own set of challenges. Before starting your own business, be sure to do your research and weigh the pros and cons carefully.

Do you think you are ready? Schedule a video chat today to talk about your dreams! There’s no commitment to book, and I can spend as much time as you like discussing what you want to achieve.