GreenJade Interiors started operating just before the COVID-19 pandemic hit. The proprietor leveraged connections established during a practicum at Kwantlen Polytechnic University to navigate the challenging times. These connections proved invaluable, allowing GreenJade Interiors to sustain operations while many other businesses faced closures. However, as business slowed, the company needed to actively seek new projects since existing contacts no longer required their services.
Jade Crabbe, the dynamic young entrepreneur and owner of GreenJade Interiors, recognized the need for professional guidance to enhance various aspects of her business. She engaged an external expert, who conducted a comprehensive analysis of the company, pinpointing areas that required immediate attention. This objective assessment provided a fresh perspective and uncovered aspects Jade may have overlooked. Armed with this insight, she made informed decisions and implemented necessary actions to streamline and improve the efficiency of her business operations.
During the analysis, it became apparent that GreenJade Interiors was underbilling for specific projects, leading to lower revenues. It was recommended that pricing strategies be revised to reflect industry standards properly. Jade shared her upbringing, which was influenced by a poverty mindset, which impacted her approach to finances. The recommendation included monitoring revenues closely and adopting a more cost-effective spending approach, ensuring that expenses align with essential needs.
As part of the strategic plan, efforts were made to enhance GreenJade Interiors’ revenue stream by proposing competitive rates to vendors, aligning with industry benchmarks for interior design services. This bolstered profitability and strengthened the company’s position in the market. Over time, Jade shifted her mindset, becoming more confident in pricing discussions and delivering exceptional value to her clients.
The results were remarkable, with GreenJade Interiors experiencing a 900% increase in revenue per project. Jade’s newfound confidence in proposing costs contributed significantly to the business’s success. However, recognizing the importance of continuous growth, the next focus is on lead generation and pipeline development. Sales expertise, not Jade’s forte, maybe a future consideration to ensure sustained success. Nonetheless, her existing network continues to bring in new projects and revenues, highlighting the importance of proactive lead nurturing.
Ongoing coaching and milestone-based updates are integral to the support provided, ensuring that GreenJade Interiors thrives and evolves in the competitive market landscape.
