Can You Create a Full-time Income From Balloons? by Guest Blogger Sonia Payne
Full-time Income Means Different Things To DifferentPeople
Before we get into whether it is possible… I guess we need to understand that full-time income means different things to different people. Your personal circumstances, household income, expenditure and number of dependents will obviously have a big impact on this. The hours you have available to dedicate to growing your business and the experience you have at running a business also have a bearing on the success of a business.
If They Did It… So Can You!
I ran my balloons and venue decor business full-time, as the sole-earner for my family, for nearly a decade, and totally believe it is possible but as the market is shifting constantly, I like to keep abreast as to what is happening outside of my local area.
Every year around this time I ask the question “Is it possible to create a full-time business from balloons only?” on The Qualatex Balloon Facebook Group.
It is my personal thermometer of how the industry is performing as a whole. I am astounded every year by the response and the positivity within the industry! When I asked this week, I had 77 comments responding to the question! Of all the responses, only 5 felt it was not possible at this time. Many of the full-time balloon business owners had been running their full-time businesses for decades, as well as employed lots of staff and earned hundreds of thousands of pounds annually. Two companies reported earning over a million dollars per year just from balloon sales. Now if that is not inspiring, then I don’t know what is!
You can read their responses and thoughts on taking your balloon business full-time to the question here:
You will need to be a member of the group to view it!
https://www.facebook.com/groups/17261393033/permalink/10158661130098034/
And, if you are interested the 2021 responses during Covid they are here:
https://www.facebook.com/groups/17261393033/permalink/10157906601568034/
I decided to dig a little deeper by searching Companies House here in the UK, and found numerous companies accounting 5 or 6 figures, reinforcing my belief that it absolutely IS possible to grow a full-time profitable balloon business!
What Does it Take to Create a Full-time Profitable Balloon Business?
Okay so now we have established it is possible, the next question I usually get is can anybody do it?I firmly believe that with the right mindset and business skills anybody can build a successful business from balloon decoration that delivers a full-time income. What do I mean by right mindset and business skills? There are some key elements to becoming successful, and these elements were repeated in the facebook posts above by all the truly successful balloon business owners:
You need to believe you can do it…
Sure there will be days every business owner wonders if it is actually possible but you need to get up every single day with the belief it will happen and that you are capable of achieving what you want. Mindset is key to running a full-time profitable business!
Sure there will be days every business owner wonders if it is actually possible but you need to get up every single day with the belief it will happen and that you are capable of achieving what you want. Mindset is key to running a full-time profitable business!
You need to have a clear vision and destination for where you are taking your business.
You also need to work out what it will take to get you there in terms of investment and growth, how much sales you need to bring in and the profit you need to make to grow your business. Set end goals and stepping stones along the way to reach those goals. Check in with your destination daily and make sure everything you are doing is moving you towards your end goals.
You need to CONSISTENTLY price for profit.
The key to any successful balloon business, including one that delivers you a full-time income, is that you need to price for profit and growth in your business. You also need to be constantly watching the cash flowing in and out of your business and making sure you are generating the profit you need. The biggest reason people don’t achieve a full-time income often comes down to poor pricing and poor control of finances.
The key to any successful balloon business, including one that delivers you a full-time income, is that you need to price for profit and growth in your business. You also need to be constantly watching the cash flowing in and out of your business and making sure you are generating the profit you need. The biggest reason people don’t achieve a full-time income often comes down to poor pricing and poor control of finances.
You need to consistently market your business to the type of customers you want
and need to grow a full-time business.
You need to actively get out there and find them. It’s not enough to hope or pray the right people find your business… you need to work out who they are, where they are and then get in front of them! It takes more work than you think to find the right customers who will grow your business full-time, but once you do the magic really starts to happen!
You need to put systems in place so that you can become super productive
and ensure the time spent in your business generates the right level of profit to create a full-time income. Time is the most valuable asset any balloon business has, and you need to maximise and spend it wisely!
Today’s business world is fast paced and constantly evolving… You need to constantly adapt to the marketplace. You need to spend time working ON your business as well as in your business to ensure your business is capitalising on opportunities, and you are ready for any challenges that lie ahead.
🎈Until next time… Stay amazing!🎈
Sonia x
About the author: Sonia Payne is the founder of the Balloon Business Academy. She has spent over ten years growing her own balloon and decor business. She now works with creative entrepreneurs to show them how to start and grow a balloon business the quick and easy way! Having previously spent 10 years coaching in sales and marketing, she can show them how they can create an amazing profitable and sustainable business by showing what really works to get quick results without the stress!
To find out more about Balloon Biz Academy and read more of Sonia's great articles visit https://www.balloonbizacademy.co.uk
and ensure the time spent in your business generates the right level of profit to create a full-time income. Time is the most valuable asset any balloon business has, and you need to maximise and spend it wisely!
Today’s business world is fast paced and constantly evolving… You need to constantly adapt to the marketplace. You need to spend time working ON your business as well as in your business to ensure your business is capitalising on opportunities, and you are ready for any challenges that lie ahead.
But What About Balloon Skill?
It may surprise you that nowhere in the list above have I mentioned balloon skills… Whilst undoubtedly being an amazing balloon artist will help, unfortunately there are many hugely creative and talented individuals within the industry who are struggling to make a full-time income out of balloons. Maybe you are one of them and that’s why you are reading this blog post? It may surprise you but I promise it is actually more than possible to make a successful profitable full-time balloon business doing only the more basic balloon decor. Unfortunately, it is more difficult to build a profitable and successful balloon business if you are highly skilled in balloons but don’t understand how to run a business…The Good News Is Anyone Can Learn to Run a Business!
Before you throw your arms up in despair at that last sentence… I just want to leave you with a final thought… anyone can learn to run a business. That includes you! All the skills you need to run a full-time profitable business can be learnt. It’s no different to learning any skill set. Some of it you will learn by trial and error as you progress, but I would encourage you to consider that in order to run a full-time profitable business you need to spend as much time, energy, passion and money on learning to run a business as you do on learning new balloon skills and equipment. If you look across the industry at those who are carving amazing businesses across the world, it’s clear that they invest in themselves, their knowledge and their business!🎈Until next time… Stay amazing!🎈
Sonia x
About the author: Sonia Payne is the founder of the Balloon Business Academy. She has spent over ten years growing her own balloon and decor business. She now works with creative entrepreneurs to show them how to start and grow a balloon business the quick and easy way! Having previously spent 10 years coaching in sales and marketing, she can show them how they can create an amazing profitable and sustainable business by showing what really works to get quick results without the stress!
To find out more about Balloon Biz Academy and read more of Sonia's great articles visit https://www.balloonbizacademy.co.uk
What a great post, and thank you to everyone who responded to Sonia's question on the Qualatex Facebook page.
Happy Ballooning!
Sue
Follow me @suebowler