Doer of the Week: Amy Nichols

What were you doing (careerwise) when you decided to create your own business?
I was working in financial services for JPMorgan Chase when I got laid off in 2005. I had always known I would likely start a business (at the time I was already writing a wedding blog), but I just didn’t know when. I didn’t need to work for a few months, so I took the gift of time and threw myself into starting Amy Nichols Special Events.
 

When did you know that you could really make a go of this?
I don’t think I ever had a doubt that this was the career for me, but I do have to say I feel very fortunate with the successes I have had and the many clients and people who’ve helped me a long the way.

How did you turn your dream into a business plan?
My business started as a service business -- wedding and event planning -- and I actually didn’t start with a business plan. I have since created one thanks to Sage Wedding Pros, a great resource for business owners. They have a program called the Simple Plan, which is a two-day workshop on crafting your business plan.

What inspired you to do this?
Getting laid off was definitely the push I needed. At the time, I had money saved so I could invest in the business. I had toyed around with starting a business in 2002, when I moved back to California after working in New York City for five years, but I quickly realized I needed more experience, and of course more funds to dedicate to the business.

What was your start-up cost? How did you get the money, and what did you use it for?
I’m a pretty conservative person, so I spent my money carefully and invested in Amy Nichols Special Events slowly. First and foremost, I knew I needed a Web presence and a great website. I had a designer who had created a logo for me in 2002, and with some twists and a color change, I created my company’s identity which I now use in all of my branding. I have spent a lot of my career in marketing, communications, and branding, so I knew creating my brand was a big part of establishing who I was. At the time, there were so many wedding websites with what I considered a dated feel. I already had the computer equipment I needed, and I have never rented office space, which is a huge cost savings. Two other important expenses were writing a good contract. Luckily, I had a few sample contracts from industry friends to get me started, and I had some lawyers in my family. Another significant expense was insurance -- I knew that I needed to have both general liability and errors and omissions insurance. I made sure that I had both in place before my first clients’ weddings.

What was the biggest obstacle?
I’d say the biggest obstacle in that first year of business was convincing prospective clients that I could do a great job planning their wedding. While I had extensive corporate event-planning experience, I certainly didn’t have much of a portfolio of weddings when I started. But I focused on my strengths, I showed pictures of corporate events, and shared recommendations from previous employers and vendors I’d worked with. After that first wedding season, it much easier to sell myself once I had a portfolio!

Did your friends and family support your dream?
For the most part, yes. I definitely had some people who were sole proprietors have some serious conversations with me (including my dad) about the difficulty of owning your own business and how you never truly “shut down,” but all in all, everyone has been incredibly supportive.

How did you maintain your confidence when doors were closed in your face, when people didn’t get it or said “No”?
You know, I have thankfully really not had many (or any) instances of this -- certainly I’ve had prospective clients who have hired other wedding planners, but I haven’t hit any major roadblocks. 2010 was a slow year for me, but I took the extra time to really work on my business. I also defined my niche and target clients, and spent more time blogging and engaging in social media. As a result, 2011 looks to be my best year yet!

How long did it take you to get everything off the ground?
I spent the first full year really working and establishing the business, determining what my services were going to be, how I was going to charge clients, working with a lawyer to create contracts, procuring the necessary insurance. I would say Amy Nichols Special Events was in full swing after about a year.

How long did it take for your business to become profitable?
It was about two years.

What’s the hardest part of what you do?
The hardest part has got to be the work-life balance. I am not married yet and don’t have kids, but I still find myself often working late into the night and, of course, on the weekends. I also have a really hard time disconnecting -- I am definitely one of those people who’s tethered to a cell phone.

What's the most fun part of what you do?

I love working with my clients -- what’s great about weddings is you have new people to work with each year, each with their own story. I love working with them on all of the creative details and the little touches. These things provide me with a creative outlet which I never get tired of. In 2010, I officially launched the kids’ side of my business. I have really loved working on parties for kids -- birthday parties, baby showers, and other celebrations. You definitely get to use colors and design elements that are a little wilder than with weddings!

Where do you work from?
I work from my home, but I do not meet clients in my home -- I usually meet clients at the venue, at another vendor’s office, or wherever!

Do you have employees?
No, I have independent contractors who work with me on the day-of events, and I have a virtual assistant who is a godsend!

How have you been using social media to grow your business?
Social media has been huge for me in the last year. I started blogging and tweeting regularly in spring of 2010 and I really feel it has helped me with the success I am seeing so far for 2011. While it sometimes feels like you’re blogging into the ether, people will tell me they really like something they saw on my blog or that they like getting to know me and my sense of humor a little better. I try not to take the blog too seriously, but rather share my work -- things I see and like, or people who impress me. I created a feature on my blog called “Five Quick Tips,” where wedding industry pros share their five tips for planning your wedding.  

I also started a wedding blog called Amy’s Guide to All Things Bride in 2005, which I wrote for a couple years before life and other priorities got in the way. I met and made a lot of early wedding-industry friends through that blog -- I feel honored that two of my early readers were Abby Larson from StyleMePretty.com and Bee Kim, founder of WeddingBee.com.

Do you have entrepreneurial role models? What’s so inspiring about them?
To this day, Darcy Miller is truly one of my role models -- what she (and Martha Stewart) have done for the wedding industry is amazing. I will never forget picking up my first Martha Stewart Weddings magazine in 1997 and loving everything I saw. Darcy successfully juggles editing a magazine, keeping a blog, and raising her family. Whenever I see her speak, I’m always inspired.

How did you learn and acquire the skills you use to make your business successful? How do you continue to grow and learn?
I think I generally have good business sense, which likely stems from me being fundamentally a pretty practical and conservative person. I also come from a family of entrepreneurs -- my dad and brother are both business owners, and my mom has had a few entrepreneurial ventures over the years. Both my brother and I have this knack of constantly coming up with new business ideas, and not enough time or resources to launch all of them!

I continue to grow and learn by taking advantage of educational opportunities and networking with people in my industry. I also have worked hard to establish relationships with the media, which I find helpful to my business.

What's the best piece of business advice you ever received?
I am going to cheat and just give what I think the best advice was that I’ve ever received. A high school teacher of mine said to me, “Whatever you do, be an English major; learning how to write is the best possible skill you can have and will translate into any career. You can learn everything else from there.” I was an American Literature and Spanish major in college, so I definitely got my fair share of writing practice -- in two languages, no less!

If you had it to do over again, what, if anything, would you do differently?
Not much -- I feel very fortunate to have made good decisions so far! While I love being a sole proprietor, there are times I think having a co-business owner might help in the work/life balance department, but it is hard to find that person who sees eye-to-eye with you, has a complementary but similar skill set, and who loves the business as much as you do. I am very thankful to the independent contractors who work with me -- they are fantastic!

What is your favorite service that you offer?
This is hard! I obviously love weddings, but I have had so much fun with the kids' parties since starting that business in 2010. I can’t pick a favorite!

What is your best selling service?
I would say that partial planning (for weddings) tends to be my most popular service.

What advice would you give to Dreamers who haven’t become Doers yet?
If you don’t have a good head for numbers and business, partner with someone who can take on that side of the business for you. In my industry I meet many creative people who are so good at their craft, but aren’t necessarily strong business people. It is totally okay to acknowledge that and work with someone who is. Responding to clients and prospective clients in a timely and professional manner is huge -- so if you’re not big on correspondence and staying on top of those things, hire someone who is!

Is your "Dreamer" business your full-time job?
No, I currently am working at another job. I always knew when I started my business that this would be a five-year process. I just had my five-year anniversary and hope to make the transition to working on Amy Nichols Special Events full-time this year.

Keep Up with Amy Nichols Special Events
AmyNichols.com
Twitter
Facebook
AmyNichols.blogspot.com

Photo by EnlucePhotography.com