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Friday, December 9, 2011

Do You Know the True Value of Your Business? This Exercise Could Make 2011 Your Best Year Ever

If you are an Interior Designer, Interior Decorator, Window Treatment Specialist or Home Stager, then I have a relatively simple exercise that can make a huge difference in your business next year (as well as your life), because I know it did to mine. It was something asked of me at a entrepreneurs conference last Fall. It was the one exercise that brought about the most “ah-ha moments”. It really seemed to enlighten everyone in the room.

It has to do with identifying your values, and incorporating them into your business. Sounds simple right? Well it is. The question is, how often do we honestly sit down and evaluate whats truly important to us? After all, whats important to you in your 20′s isnt necessarily at the top of the list in your 40′s. This process doesnt take very long, and it can make a big impact on your life, and consequently, your business success.
Has anyone ever asked you how your business is going? What do you say? “A little slow right now, but you know, its the economy,” or “Its fine… I guess”. How often do you reply, “absolutely wonderful!” Or how about “Great, Ive never been happier.”
Im not going to pretend that we dont have to work a little smarter to stay ahead of the game these days. Just dont believe that nobody is spending any money now, and that this economy is ruining designers. I know plenty of designers that are running hugely successful design practices, and in fact, they are busier now than ever.
After all, savvy investors know they shouldnt sell their homes now while prices are so low. They have no choice but to spruce up the one they currently have and they need your help to do it.
So why is it that some designers will answer that same question with such a positive response, while others sound a little less optimistic? I talk to designers from around the world on a daily basis, and Ive noticed a similarity among those who are happy, which those who are struggling lack.
The designers that are thriving have a very clear understanding of their purpose, their goals, and most importantly, their values. They all work from a place of integrity, and stay focused on the bigger picture.
I do believe, if you want to answer to the question “how is your business going?” with a confident, optimistic, and positive reply (and sincerely mean it), you must understand that your success is directly related to how closely aligned your business is to your values.
In fact if you were to study every successful business in history, you would find that each, and every one remained true to their values, and stayed focused on their core beliefs. In business they call this a “Mission Statement.” When you boil it down, its simply a list of core values that keeps them on track, and moving in the right direction.
We all want to be happy and successful, but remember that everyones description of success is different. After completing this exercise, you may find that your definition of the word isnt what you thought it was (I know I was surprised by what I found.) When you uncover this unique list, it can keep you focused on those things that will truly bring you the most happiness. It will simplify your life, and prevents you from wasting time.
“If it isnt related to one of your values, then it wont get you any closer to reaching your goals, therefore it wont bring you success. Dont waste your time.”
So where do you start? First you need to identify which values are near and dear to your heart. Brainstorm and list as many as you can think of. Ive listed a few possibilities that may be on your list. If youd like to see a list of examples, I will add a link at the bottom of the article.
  • First I want you to quickly choose 10 that jump right out at you. If you think of something that isnt included in my suggestions, include it in your top 10.
  • Then I want you to honestly look at that list, and ask yourself, “If I had to choose just 5, which would be the absolute most important in my life.”
You dont have to pick the obvious, or what you think is expected of you. Its OK if family isnt on your list. It doesnt mean that your family isnt important to you, it just isnt one of the top 5. Dont feel “greedy” if money is at the top of your list. Money can bring happiness and be used to help so many people. This is a very personal exercise, and it will be different for everyone.
  • Now I want you to take each of those top 5 and ask yourself a few questions.
  1. “What long-term goals can I now set based on these values?”
  2. “Am I currently running my business and my life in harmony with this value?”
  3. “What changes can I make to get on track?”
  4. “What short-term goals can I set for myself now, that will keep me on that path to success?”
  • Next, type out your list of values, and post it where you will see it on a daily basis.
So were there any surprises? I know that I learned money doesnt make my top 5, but freedom was number 2. I also realized that Im most joyful when Im leading and inspiring others. This was the realization that caused me to let go of my last design clients, and focus 100% of my attention on helping other designers who havent had the same good fortune that Ive had. Family, creativity, and joy also made my list.
You might even write out a detailed mission statement for your business and include it in your marketing. Clients respect professionals who stick to a code of ethics, and have a clearly stated purpose.
You should continuously course correct to align your business, and your life with your current values. When youre faced with a decision you need to ask yourself “which outcome will fit best within my values?” Youll start seeing success, your attitude about your business will change, and your clients will notice it as well. Success is contagious, and people naturally want to be around successful people.
Chelsea Coryell has been a successful interior designer for the past 20 years, and is sharing her secrets of success to designers and decorators all around the world. This year was the launch of her Renovate your Revenue Blueprint System, the 7 steps to building a 6 figure design business. She is also the author of the study at home e-book, “How to Design for a Living.” This is a compilation of years of knowledge, put into a simple step by step plan designed for creative women who have a passion for home decor and would love to start their own interior design business. In 2011 she will unveil her unique Private Cashmere Coaching system, to help interior designers, Design their Dream Business. To find out more information go to http://www.designforaliving.com