Earlier in February, I had the honor of being invited to spend an evening with world renowned event designer and wedding planner Preston Bailey. Preston has been an inspiration to me for many years, not only for his incredible creativity and execution, but for his business experience and his openness to sharing it with his colleagues in the industry.
The evening in Preston's Chelsea design studio was memorable for many reasons. I want to share with you the five top things Preston taught me:
1. Fill your business with the best people you can find. I learned that I need to let go of the controls a bit and work with talented people who help me do the things that I just can't do alone. Those areas may be business management, financial management, social media and PR, production and logistics. Preston told us that it was his staff that pulled him back from the brink of bankruptcy and turned his vision into a reality. He said, "Start at the top and hire down. A great, skilled staff will soon develop the business."
2. Service is the key. Preston recommends showering your client with attentiveness, responding quickly and following through. He hired one of the best planners in NYC full-time to be the face to the client for every event. "It's about service, service, service!" he said.
3. Dare to be different. One idea I learned from Preston is to offer clients that one thing that will blow them away, even if it cuts into your margin. For Preston, it is his unique signature topiary animals. By doing this one thing, whatever it happens to be for you, you create a lot of buzz, especially if photos of it get picked up and shared via social media.
4. Provide your clients with options. When conferring with a client, show them 3 samples. One meets meets the expected budget. The next one a bit more glamorous. The third one is way over-the-top. In Preston's experience, these options help a client see their wedding or event in a much bigger way. "A client needs to see the possibilities in order to decide on the budget,” he said. Preston approaches every client in this way.
5. Examine and streamline your sourcing practices. Preston taught me some valuable new techniques for sourcing items for our events. For instance, he never stores anything; every single item he purchases gets discarded after the event. In a tight NY production studio, workspace is more valuable than storage. Granted, this practice may work well in NYC where space is at a premium, and it may be cost effective to store certain items in other locations. But he does have a valid point around starting fresh with every new client.
During his presentation that evening in his studio, Preston asked each of his employees this question: "If you could give me one piece of advice, what would it be?" They clearly respect, admire and like their boss. The answer that struck me the most, though, was his financial manager, who said, "Preston, you need to value yourself monetarily."
It was a interesting piece of advice, and it is something I will keep thinking about. We are in a design-based industry, and we put so much of ourselves into every aspect of our work. And so when Marcy and I sit and discuss all future clients and events, we will keep in mind that our ideas are as valuable as the flowers we ultimately deliver.
- Thom Green, Co-Owner, Dragonfly Floral & Event
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