Last week I wrote about being in debt for over a million dollars 15 years ago. Getting a few of these high-end jobs was the only possible way I could have been able to pay back that money and stay in business.
It’s very uncomfortable for me to even write about money because this is a big, dark secret most of us hide for a few reasons:
- We do not want to be perceived as if we are showing off.
- We do not want our competitors to know what we are making.
- Culturally, it’s a no-no.
The only reason I have descided to talk about this is that I have a very strong feeling that we are all in the event industry, but most of us have no clue about the time it takes to grow a business.
In order to do this, I’d like to give you a general history of how my company grew financially.
Before I do, let’s answer the question above: It took me 22 years before I was fortunate enough to do a complete transformation for the cost of 1 million dollars.
However, we all have our own journey, some faster, others slower, but ultimately it is about doing the work and having lots of faith to allow this, to happen organically.
My Time line:
- 1980 My first job doing weekly flowers. $200
- 1983 My first client’s daughter getting married lead to my first wedding for 250 $4000.
- 1985 Another milestone: a wedding for 300 people $10,000
- 1988 A corporate event for Christie’s galleries $15,000
- 1990 Job in tent in Connecticut $22,000
- 1995 Wedding for 500 people in New york $50,000
- 1996 Fashion show event for Mr. John Galliano $100,000 (I thought I died and went to heaven)
- 1997 Wedding for 1000 people $250,000
- 1998 Another wedding transformation $450,000
- 1999 First event overseas $500,000
- 2002 Complete transformation and decor $1 million
When I hit this million dollar job, it was without question a dream come true. However, this dream did not happen over night. There were many up and down prices in between the milestones, including a very bad recession in the early nineties.
As I said in my post yesterday, if you are going to dream big, one of the most important points to remember is that you are going to need lots and lots of PATIENCE.
I believe most dreams die because of our lack of waiting.
I know because I have also had many of those.
Do you have a financial dream goal? Are you blessed with patience? Do you feel your company is growing at the right pace? What do you think is stopping you from reaching your financial goal?