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WPIC in the Media

We are always happy to talk to or assist the Media.
Please speak with Danielle or Tracey at info@wpic.ca or (905) 474-9292

WPIC in the Media

We are always happy to talk to or assist the Media.
Please speak with Danielle or Tracey at info@wpic.ca or (905) 474-9292

5 Things Business Owners Need to do for Themselves Right Now!

confident young professional

by Danielle Andrews Sunkel

Owning your own business is rewarding, challenging, exciting, scary, liberating and confusing. We often get caught up in what we need to do for our clients, our families and our business, but forget about things we need to do to protect ourselves or set up ourselves for the future.  We tend to only think about the here and now, and forget the ultimate goal is to build a successful buisness and career for the rest of our working lives.

Whether you have owned your business for 5 months or 5 years, here are 5 things you need to do for yourself right now:

1. Start an RRSP

You have to plan for your retirement.  Without an RRSP you will have NO money saved for your retirement.  I’m sorry to break it to you, you probably aren’t going to win the lottery and no one will buy your business for $5 million.

2. Get General Liability Insurance with an E & O Policy

You need to protect yourself and your business. Couples are getting way more litigious and if something happens at a wedding, it is not just the couple who sues, it is all of their guests too! Get insurance now. Now!

3. Start Deducting Taxes from your Income

You need to deduct at least 20-30% of all your income to remit in personal taxes at the end of the year.  It’s fun having all the funds your successful business earns, it is awful to receive a $25,000 tax bill!  Deduct the proper taxes from every single payment you receive from clients and thank me later.

4. Create a Business Plan

“If you fail to plan, you plan to fail.”  What are your goals, what are you planning to achieve, how do you define success?  Without a business plan, you will not have a road map for your business. If you don’t set goals, and have a plan to achieve those goals you are kind of like a chicken with it’s head cut off, you have no direction.

5. Take care of You

Book that physical you have been putting off.  Start that fitness regimen.  Start eating healthier.  You are your business and your business is you, so you need to be healthy and strong to run your business properly.

What would you add to this list? 

Photo by Avenue-Photo.com

Photo by Avenue-Photo.com

Danielle Andrews Sunkel is the Co-Founder of WPIC Inc. and the owner of The Wedding Planners since 2000. She has also been the Co-Producer of The Wedding Professionals Workshops since 2005. She has coordinated weddings, events and conferences in Canada, USA, Mexico, Jamaica, St. Lucia, Barbados, The Bahamas, Turks & Caicos, Ireland and Rome.

She is a regular guest expert on television, radio, wedding magazines and in newspapers. Danielle also speaks at several Wedding and Event Industry Conferences each year.

Is the Wedding Planner Market Over-Saturated?

Photo by Avenue-Photo.com

Photo by Avenue-Photo.com

by Danielle Andrews Sunkel

A statement I keep hearing people say is, “The wedding market is so over-saturated!”

Every market has more people interested in it than there are positions.  How many people do you know looking for teaching positions?  I know three people who have waited multiple years and still don’t have a full-time teaching position.  Lawyers, doctors, nurses, construction workers, human resource managers, social workers, everyone is looking for work.  How about business?  We recently posted a position for an Administrative Assistant and received 427 resumes in 5 days. 427! Over 100 of these people had Masters Degrees.

In the grand scheme of things, no the wedding market is not over-saturated.  There a lot of people trying to enter the wedding market, but when they see how much work and determination it takes, they quickly leave.  Those with rose-colored glasses thinking this is a “fun” job are going to quickly leave.  Those who enter because they see weddings as a way to make quick money, are going to quickly leave.  It takes someone with a true love of people, business savvy, a willingness to continually learn, and openess to upgrade their skills, to succeed in this business.  Those with the true hearts will stay and they will succeed.

According to the Bureau of Labor Statistics, in the next 10 years there will be a 44% increase in the number of event planning jobs.  The average wedding planner earns $46, 020, the top earners make $78, 530 and the lowest earners make $27, 410.

So no Virginia, the market is not over-saturated. Stop worrying about everyone else and start working your business.

How to Flip a Room in One Hour

Aside from all of the amazing details that need to be pulled together leading up to and on a wedding day, nothing can be more stressful (or exciting!) as ‘The Flip’. Changing a room from Ceremony to Reception for 165 guests in just one hour is not for the faint of heart. It takes organization, planning, preparation, and manpower.

Recently, Jennifer Maxwell, WPICC, had the pleasure of participating in just such a flip at the King Edward Hotel – something Catering Sales Manager, Sarah Savolainen, WPICC, is no stranger to. This type of room flip happens all the time, but Jennifer knows that not everyone is privy to the mastery it takes to coordinate a flip with the type of ease that Sarah and her staff demonstrated. So she filmed it.

With tripod up and iPhone set in time-lapse mode, the entire flip was captured not only for the bride and groom to see, but for others to gain a sense of appreciation and respect for what it takes to create a new and magical setting in just one hour.

The lesson? Always work with professionals. They know what it really takes to manage the task at hand, with ease and grace, all while making it look seamless.

Jennifer Maxwell WPICCJennifer Maxwell, of The Wedding Coach, has been a WPIC certified wedding planner since 2007. Her love of the creative and collaborative process (not to mention all the pretty!), has created a natural fit for her wedding planning business.

More specifically, Jennifer enjoys the strategic planning side for couples (timelines, checklist, schedules and more), and has recently been sharing her templates with new planners, which – less face it, is not every planner’s favourite part.

 


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