Ask me anything: Your Business Questions, Answered Honestly
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Welcome to In the Making, the podcast where entrepreneurial journeys, creative insights and candid conversations come together. I'm Lauren, a luxury wedding planner and mentor and business owner with over eight years in the wedding and events industry. Each week I'll be sharing honest advice on building and scaling a creative business, pulling back the curtain on what it really takes to thrive in the wedding and events world, and bringing you inspiring stories from industry experts and fellow creatives. So whether you're here to learn, grow or just feel inspired, you're in the right place. Hi guys, welcome back to another episode of In the Making podcast. Today we are doing a mini coaching QA session with just myself.
Now you guys have sent your questions in and I'm really excited to kind of just go through them and give you some answers and I hope that you get lots of value from this episode. I'm literally just gonna dive in. This is a lovely little like juicy nuggets episode for you. So the first question that we have is when do I know it's time to go full time? It's a good question. And I understand that a lot of your businesses will start as a side hustle. Typically you'll be working in a full time job, you'll have an idea and you'll start doing it on the side. you know, at the weekends in the evenings, or perhaps like me, it's when you're entering a new phase in a new chapter of your life when you've got babies and I mean, typically a lot of women that I've spoken in the industry.
That's when they've actually made the change and started their businesses because they needed a a business to work around them. And their new life as a mum. So let's let's focus on you being full time work because I think that's when you make the jump. Perhaps if you've got a baby, you might actually already be out of work, you might be on maternity leave. You might have already cited a bit of change. But essentially You need to look at your numbers. You need to know what you need to be bringing in, but you also need to be looking at your balance. your life balance and actually how much time and commitment you can put in. Now, if you're living with your parents, for example, I mean, take the jump, go for it, 'cause you don't have the commitment.
That is like one of the best times to be jumping in and just going full time at your business and giving it a hundred percent. if you are working full time, living with your partner, you've got a mortgage, obviously you have you know, payments and bills and and you have commitment. And you can't just sort of like jump off that road and hope for the best. You have to make sure that your bills are covered and that you're feeling stable. So it's very, very like important that you do work out your numbers, but you need to be prepared that there's gonna be a dip. There's gonna be a dip in income because you're not gonna be able to push. In the new business, he for a little while whilst you're still in the other businesses.
So there's gonna be that little bit of a dip. Um, so it's very much just making sure that you've checked your numbers, but there is no right or wrong time to be doing it. You need to have a look at the facts and work out how much time and energy you've got as well. When I did it, it was very much I had a seven month old baby, I'd cut down my hours as a freelance ice skating coach, and then I started ramping things up. It was a very different phase in my life because I had babies. So I wasn't working kind of full time at that point anyway. So it was quite natural for me and that worked quite well. Next question. How do I avoid burnout during peak wedding season? This is very much dependent depend on dependent on the business model that you have.
So for example, I have what I call I mean there's the quantity business model and the quality business model. And when I say that, that's not to be derogatory to the quantity business model. It's just The other one is you're doing less, they're bigger, you know, the budgets are bigger, et cetera. You don't have to take on as many, but the projects are actually huge.
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Chapters
3 chaptersSpeakers
1 identifiedMore from In The Making with Lauren Goodman
What I Learned From Season 3: Business Lessons from Creative Entrepreneurs & Wedding Industry Leaders
The Rise of Wedding Content Creators: Social Media, TikTok & Modern Weddings Explained
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Motherhood, Miscarriage & the Myth of Balance: Running a Business While Raising a Family with Holly from Wonderlust Events