What are the things I regret the most about my business as a wedding educator?
I decided to spill the beans on the things I wish I hadn’t done or the stuff I regret. You know, just to save you all from the struggles I faced. I believe it’s important to learn from the mistakes of others. That way, you can take a little detour and avoid going down the same path of challenges that I experienced.
1. Illusion of Ease in Passive Income
The initial regret in my business journey? Investing in things with the illusion of the freedom that it brings. Back in 2019, the hype around passive income got me hooked. The idea of making money while sleeping sounded like a dream, so I started on the course creation journey. Let me tell you, passive income isn’t as straightforward as it seems. The perceived ease is just an illusion. Behind the scenes, it covers marketing funnels, research, potential ads, systems, and more. Without a team, doing it solo means managing everything independently. It’s a realization that simplicity can mask complicated challenges. Stop craving quick success and embrace slow, steady growth. For those feeling pressure to book weddings a year in advance, just relax. Quality over quantity matters. Your value as a photographer isn’t solely determined by external validation. It’s about the journey, not just the destination.
2. Not Taking a Thorough Research
One major regret I have in my business journey is relying on someone’s recommendation without doing thorough research. My business coach suggested a person for collaboration, and I blindly trusted the referral. It turned out to be a pricey mistake as the service was overpriced, the customer service was lacking, and deadlines got pushed. Now, I’ve learned to be more cautious, I’ve become more intentional about the hiring process, taking my time and researching potential collaborators extensively. No longer eager to outsource impulsively, I now trust my intuition, conduct thorough research, and even listen to podcasts featuring individuals before making any hiring decisions. I hire based on results and testimonials rather than just recommendations. If you’re entering a phase of outsourcing or building a team, my advice is to proceed slowly, conduct multiple interviews, and avoid the potential regret of a hasty investment.
3. Five-figure Investment in a Program
One of my big business regrets involves dropping five figures on a program that delivered 5% of its grand promises. This disappointing experience inspired me to create a robust, strategic, systemic, and visually appealing coaching program. I believe a mastermind or group coaching program’s real value lies in the diverse experiences of its members. Sadly, the only value I obtained from that regrettable investment was interacting with the few group members who made it worthwhile.
4. Not Budgeting for Business Expenses
I regret paying myself very little for a very long time. Classic business owner move, right? Sometimes income, expenses, and the whole process get mixed up. Instead of formal business paychecks, I used to pool everything into one account, and whatever remained became my personal spending fund. For years, my business ruled, and whatever remained went to personal expenses, which wasn’t much given the early non-profitable phase and various investments. I found myself spending on equipment, coaches, courses, legal matters, and more. It reached a point where I questioned why I wasn’t making money. Now, I’ve adopted a wiser approach to separate accounts. This financial strategy has significantly improved my money management.
5. Losing Track of My Work-life Balance
The last regret in my business is being so available that I lost track of who I was and what I was doing. This led me to overhaul my life and business scheduling, limiting events to twice a week. Back in the day, my calendar was everything, even though I’d say yes to every invite. I’ve realized being a CEO involves more than just business; it’s about mastering your calendar, having financial control, setting boundaries, and learning the art of slow, intentional decisions. Gone are the impulsive days of high-ticket program investments and rapid hiring. Now, it’s about taking things slow, being connected to the coaching style, budgeting wisely, and curating a life calendar that balances work and personal life within the business ecosystem.
