Surely you’ve seen HGTV’s Fixer Upper with Chip and Joanna Gaines. This increasingly popular show takes us into the shoes of two small business owners who have in the past struggled to make ends meet but have ultimately come face to face with success through real estate and home renovations. The way they have built their brand is remarkable, they have their HGTV show, a successful bed and breakfast, a furniture brand, an online shop and the silos which include food trucks, a bakery, a market for shopping and a hardware store coming in 2018. Chip and Joanna have built the popular Magnolia brand from nothing, and continue to successfully expand. Small business owners across various industries can learn tips from Chip and Joanna on how to run and grow their small businesses.
Tips from Fixer Upper for Your Small Business
Expand Your Small Business
Chip and Joanna have declined to expand outside of Waco, Texas because they are confident it will bring the business they need. And it does! Just because they have not expanded outside of their original location does not mean they haven’t grown. Chip and Joanna have expanded outside of renovating homes.
They opened their silo marketplace where you can spend the day shopping and eating, they have a bed and breakfast, a lifestyle magazine and an online store. This proves the fact that you don’t have to expand outside of your city. Maybe you’re interested in branching off of your original business idea and trying something new.
If you can afford it, go for it! With the right marketing strategy, any type of business can take off.
Have a Solid Marketing Plan
Marketing and sales are crucial in the world of small business.
It’s easy for Chip and Joanna to gain exposure because of their popular television show, but everyone does not have that luxury. Even so, they still focus on marketing and sales. Chip and Joanna are active on social media as any business should be.
It’s important to post weekly and keep followers updated about current events surrounding your business. Be sure to keep your website current and visually appealing. Chip and Joanna have a website that encompasses their brand. While visiting the Magnolia website you can shop, look at their past fixer uppers, read their blog, learn about the silos, book a stay in their vacation rental and more.
Be sure your website displays all aspects of your business and try to have a section for customers to leave their feedback as well.
Be Prepared for Bumps in the Road
Not only do Chip and Joanna often talk about how they struggled to make money in their early years as a couple but their current home renovations sometimes end up requiring more money than initially expected.
When this problem occurs, they strategize with each other to find a solution, sometimes giving up part of the original design to create the extra money that’s needed.
This is a common problem across all industries. It’s important when creating your business plan to expect hard times and has planned solutions for any problems that may occur—financial or not.
Strategy Before Design
Always think of your customers first and what is convenient for them.
When Chip and Joanna are designing houses for their clients, they think of the functionality and the layout and what will work best for that specific client. Once they come up with the layout they then focus on making it beautiful. All business owners should follow this method with their product or service.
There are plenty of free online business tools that can help companies plan and execute large-scale ideas for their business– ensuring it’s both complete and appealing. Ensure your product or service is convenient and easy to use for your customers to guarantee satisfaction and then focus on the visually appealing aspects.
Chip and Joanna always exceed customers’ expectations. This is important for any business owner because when customers are satisfied they will often return.
Focus on going above and beyond when it comes to your customers. Provide them with the product they’re looking for and with great customer service and suggestions for next time. Your customers will appreciate you connecting with them and will tell their friends about your business.
Be Ready for Success
Fixer Upper has seen overwhelming success in the last few years.
Chip and Joanna have had to make many necessary decisions that come along with success. They’ve had to hire more employees and expand their business because of their strong following.
Plan for success while thinking about your future goals and accomplishments. Have a specific strategy on how you’re going to deal with success and growth so you are not overwhelmed when it occurs.
Need a Stronger Cash Flow?
Are you in need of stronger cash flow to get your business off the ground? Factor Finders can help. Accounts receivable factoring can strengthen your cash flow within 24 hours.
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