Marketing Panes is the go-to podcast for window treatment and awning business owners who want to level up their marketing game. Hosted by industry expert Will Hanke, owner of Window Treatment Marketing Pros, this podcast dives into actionable marketing tips, industry trends, and proven strategies to help businesses attract more leads and grow. Each episode features insightful interviews with successful business owners and top marketing professionals, offering a range of perspectives on what’s working in the world of digital marketing, SEO, local advertising, and more. Tune in for valuable advice and fresh ideas tailored specifically to the window treatment and awning industry!
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Marketing Panes is the go-to podcast for window treatment and awning business owners who want to level up their marketing game. Hosted by industry expert Will Hanke, owner of Window Treatment Marketing Pros, this podcast dives into actionable marketing tips, industry trends, and proven strategies to help businesses attract more leads and grow. Each episode features insightful interviews with successful business owners and top marketing professionals, offering a range of perspectives on what’s working in the world of digital marketing, SEO, local advertising, and more. Tune in for valuable advice and fresh ideas tailored specifically to the window treatment and awning industry!
Guest Profile: Michelle WilliamsMichele Williams is the dynamic owner of Scarlet Thread Consulting and Metrique Solutions, specializing in empowering creative professionals in the design industry. She offers strategic business coaching and financial analytics, helping interior designers, workrooms, and window covering professionals navigate the complexities of entrepreneurship. Through Scarlet Thread Consulting, Michele provides tailored coaching to achieve financial clarity and operational efficiency. Metrique Solutions offers technology-driven software to optimize pricing strategies and enhance profitability. Michele's work transforms businesses and inspires growth in the design community.Key TakeawaysIn this insightful podcast episode, Michelle Williams, owner of Scarlet Thread Consulting and Metric Solutions, shares her expertise on financial management for window treatment and awning businesses. Key takeaways include:The importance of understanding how money flows through your business.Implementing a profit-first approach to ensure sustainability.Strategies for effective budgeting and marketing spend.Tools and resources for better financial management.Preparing for and handling financial setbacks.Understanding the Basics of Financial ManagementThe Fundamental PrinciplesMichelle emphasizes the critical importance of understanding how money moves through your business. This includes:Identifying primary revenue streams.Understanding cash flow patterns.Knowing your cost of goods and operating expenses.She stresses that many businesses fail due to poor cash flow management, highlighting the need for a solid grasp of these fundamentals.Implementing a Profit-First ApproachMichelle advocates for a "bottom-up" financial approach:Determine desired profit after taxes.Account for taxes and savings.Calculate necessary operating expenses.Work upwards to determine required sales.This method ensures that profit isn't an afterthought but a planned component of your business model.Effective Budgeting and Marketing StrategiesCreating a Marketing BudgetMichelle suggests:Conservative businesses: 6-8% of gross profit for maintenance.Growth-focused businesses: 8-20% of gross profit.She cautions against exceeding 20% to maintain overall financial health.Measuring Marketing ROITo effectively measure marketing ROI:Set clear expectations for each marketing activity.Track relevant metrics (e.g., website clicks, lead generation).Understand the cost per lead and return on investment.Michelle emphasizes the importance of giving marketing efforts enough time to show results before making decisions.Tools and Resources for Financial ManagementMichelle recommends:Accounting software (e.g., QuickBooks, FreshBooks)Customer Relationship Management (CRM) systemsFinancial dashboard tools like Metric SolutionsThese tools help track financial data, manage customer information, and provide insights for decision-making.Preparing for Financial SetbacksTo minimize and handle financial setbacks:Create separate bank accounts for different business purposes.Save for unexpected expenses and taxes.Plan ahead for hiring and expansion costs.Develop contingency plans for various scenarios.Effective financial management is crucial for the success and sustainability of window treatment and awning businesses. By implementing these strategies and using the right tools, you can make informed decisions, optimize your marketing spend, and build a more resilient business.Other Notes/Links:To learn more about Michelle Williams visit:Scarlet Thread Consultingpssst.... want to be a guest on the show?Listen to other episodes
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TranscriptWill Hanke – WTMP (00:00)All right, hello, everyone. Welcome to another episode of Marketing Panes, the podcast where we talk with real window treatment and awning service pro...
Marketing Panes
Marketing Panes is the go-to podcast for window treatment and awning business owners who want to level up their marketing game. Hosted by industry expert Will Hanke, owner of Window Treatment Marketing Pros, this podcast dives into actionable marketing tips, industry trends, and proven strategies to help businesses attract more leads and grow. Each episode features insightful interviews with successful business owners and top marketing professionals, offering a range of perspectives on what’s working in the world of digital marketing, SEO, local advertising, and more. Tune in for valuable advice and fresh ideas tailored specifically to the window treatment and awning industry!
