SHOULD I SET A MINIMUM BUDGET FOR THE COUPLES I WORK WITH?
Whether you realize it or not, as you develop your portfolio and highlight your best work (ie, the work you want more of), you are inadvertently setting budget minimums. Even if it's never as direct as saying "my minimum is $75,000, $100,000, $200,000, etc", if the work in your portfolio starts around that dollar amount, couples need to know that information. Just because you can plan a $40,000 wedding, doesn't mean you should if everything in your portfolio is more expensive than that number. Couples are falling in love with the weddings you show. If the celebrations shared start in a range that is double their budget, you're doing them and yourself a disservice by taking on their celebration. So, yes. You have a minimum, even if you never realized it. And the next time a couple asks the question directly or shares a budget that is below that "minimum”, your response doesn't have to imply "Oh, I ONLY work with people SO much richer than you." Instead, you can use the conversation as an opportunity to educate couples accordingly. You can simply say, "The work in my portfolio starts at X dollar amount. While I'm capable of planning something less expensive, it wouldn't be in line with the level of work you're calling me about." If you don't have this conversation, know that your couples are assuming that you can create a wedding just like the work they see in your portfolio for THEIR budget. You may think it's obvious that you can't create that $250,000 show-stopping wedding for their $75,000 budget, but you have to remember that couples are not experts and often have no idea what things cost in our industry. That's why they need you. If you don't have this conversation, the couple will be disappointed with all the things they "can't have" throughout the process or worse, may blame you for not bringing your A game, because their wedding "looked nothing like the ones in your portfolio."
Having this transparent conversation will result in one of two things:
1. The couple will either say "Thank you, that's not possible for us." giving you the opportunity to refer one of your better aligned associates,
OR
2. They will realize, "Oh, the wedding I want and the budget I've mentally set isn't aligned." From there you have the opportunity to show your expertise by helping to educate and adjust their expectations overall.
We have this conversation often and guide couples using a tool I call the "Historical Averages Budget". I talk about the benefits of this tool and the three other budgets we use when working with our clients in our session "Budgeting for Your Clients."
And, If you want to learn more about what you can do as a business owner during this crazy time, download our “12 THINGS TO DO DURING TIMES OF UNCERTAINTY”. You’ll receive this and an accompanying worksheet to guide you through your own process. Good luck! I know we will all get through this together!