From Buying to Selling a Wedding Planning Business
In 2010, I took my lunch break from working at the Renaissance hotel as the catering sales manager and met my husband of six weeks at a bank across the street. We had taken out a small business loan to purchase an existing planning business. I was absolutely terrified and also so dang excited. I was naive. I had never purchased a business before. I didn’t know what to ask of the original owner to do our due diligence, and we fumbled our way through the entire process. I had blind faith and a partner who believed in me. I gave notice at my full-time job a few days later and the journey began.
That journey was one I could never have predicted. There were incredibly trying moments, there were doors shut in my face, there were ramifications and burned bridges from the previous owner that had me questioning if I should abandon ship and try to get my full-time job back. There were triumphant moments too… Like booking my first full-service client. Like seeing one of my first weddings featured locally and then nationally. There were team members that became extended family members. There were team members that didn’t work out. There were team members that helped me learn how to be a better leader because of the mistakes I made with them as I learned the ins and outs of business ownership. There were clients who became lifelong friends. There were clients I fired because they were soul-sucking. There were clients who pushed me to my emotional limits. There were clients that changed the trajectory of my career because of their impact on my life. There have been tears of joy, tears of overwhelm, tears of sadness, and tears of laughter.
There have been many WTF moments. There have been moments that I felt would break my spirit. There have been moments of such deep pride that I have had to pinch myself.
I am a changed person (for the better) because of my journey with this business. The lessons learned will serve me until my last breath and I hope to use those lessons to continue to serve others as well.
So with that said, last week, I walked into that SAME bank and met my husband of twelve years there. We passed the torch to the next owner of the business and we celebrated the journey we’ve walked together and dreamed about what we’ll create together next as serial entrepreneurs. I wrote Elizabeth, the new owner of A Southern Soiree, a note and handed it to her that day. I also took a moment to think about what I might write to a past version of myself or what I might say if I could sit down with that Megan right after she took over the business. And here’s the deal, if you’re reading this right now, I would tell you the same thing. I’ve got three things I want to share with you (and also a past version of me) below.
So Past Megan and to you reading right now, here’s what I want to tell you today.
Hey you,
Listen, I know you’re busy. You’ve got a lot on your mind but I wanted to share three quick things with you that I want you to hear me out on. Process them and hold on to them. You’ll want them on the journey ahead.
Number 1, for the love of everything, do not refer to this business as your baby. It’s not. You can love it, you can be inspired by it, you can build it, tear it down, and rebuild it, you can re-imagine it and you can also fall out of love with it and need some space from it. This is all ok. It’s not a living breathing human and it should never have that hold on you. Don’t make yourself a martyr to this business. It will not serve you in the long run. Love it, and grow it, but do it with boundaries that create healthy growth for you both. You deserve that and so do your loved ones.
Number 2, There are some hard moments ahead. Keep your head up and don’t let anyone make you feel like you don’t belong here. They don’t get that power over you. They don’t get to make you feel small and you don’t either. Because that’s the thing, you’re going to find you’re the biggest hurdle ahead of you. Thoughts like, “but they’re so much better than I am,” or, “I don’t fit in here,” or, “that person is way ahead of me in so many ways,” will only convince you to stay safe and small and I’m here to tell you that’s bullshit. Do your thing, and don’t waste energy or time worried about what others think. You’re going to make mistakes just like everyone else and you deserve a seat at the table. Trust me on this one, please.
Finally, listen to me very carefully here. There’s a voice inside you that is so wise, that knows what your next step is and will guide you down the right path. That voice has got your back. But if you don’t find time to listen or you drown it out with over-working and over-worrying about everything and everyone, you won’t hear what she has to say. I urge you to listen to that voice. It will change your life if you can tune in. It will open doors that you can’t see right now and it will protect you from choices that could be incredibly costly both in time, money, and years. Listen intently, you’ll hear her when you need her most and she never leaves.
Be sure to tune in to episode 180 to hear more about these lessons learned and a fun interview with Jason. You don’t want to miss this episode!
