Episode 4 Building a Business with an Exit Strategy – Interview with Tanya Nazariya

 How to Start and Scale Your Home Staging Business Host: Joké DurojaiyeGuest: Tanya Nazaria, Founder of Brilliant Staging and Home DesignEpisode Highlights:Introduction to Tanya’s JourneyTanya shares her unexpected path from law enforcement to home staging, starting Brilliant Staging in Seattle, and recently selling it after eight years.Background in business, marketing, and accounting set Tanya up for success, helping her transition into a new industry.The Unexpected Start in StagingTanya’s passion for design was discovered as she staged her own home for sale, receiving overwhelming positive feedback.After quitting her job and researching home staging, she decided to start the business, focusing on growing her skills and learning along the way.Key Advice for Aspiring StagersUnderstand your “why” before starting a staging business. Decide if you want to focus on design or on running and growing a business.Emphasizes that staging can be a creative career without owning a business by working for established staging companies.Importance of an Exit StrategyFrom the start, Tanya planned to build a sellable business, structuring processes and systems to support an eventual handover.Highlights the difference between running a business and creating a job for oneself, emphasizing the value of becoming an absentee owner.Building Operational SystemsDocumenting processes, creating standard operating procedures (SOPs), and planning for scalability.Intellectual property, branding, and team building as foundational aspects that support smooth operations and eventual sale potential.Challenges in Selling a BusinessProfessional appraisal helped Tanya understand the market value of her business, balancing emotional attachment with realistic numbers.Insight into how assets, inventory, and intellectual property are valued differently by buyers and brokers.Navigating Emotional and Practical HurdlesTanya explains the importance of detaching emotionally and focusing on profitability to attract buyers.Leveraging intellectual property, unique branding, and explaining these aspects directly to potential buyers to convey business value beyond the numbers.Building a Reliable TeamDiscusses the significance of hiring team members who share the business vision and contribute positively, sharing insights on making difficult personnel decisions when necessary.Tips for finding employees who bring fresh ideas and support growth, reinforcing that staging businesses cannot thrive alone.Fun Closing – To Chop or Not to Chop?Tanya and Joké share a fun, light-hearted debate on the popular design question: “To chop or not to chop pillows?” Both agree – they’re on Team Chop!How to Connect with TanyaTanya now offers business consulting services to help other home stagers plan and execute an exit strategy for their businesses.Find Tanya’s services at NazariaDC.com.Key Takeaways:Approach your staging business with an end in mind; have a clear exit strategy, whether it’s selling, handing down, or retirement.Building a sustainable business requires well-documented processes, a reliable team, and strategic growth.When selling, focus on bottom-line profitability and market valuation while also emphasizing the unique brand and systems you’ve created.Quotes from the Episode:“Know your ‘why’ before starting a business – are you in it to stage or to build a business?”“Hiring the right people is crucial; one good team member can elevate the business, while one wrong hire can bring it down.”Connect with Us:Follow Joké and the Business of Home Staging Podcast for more insights and inspiration.