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

Host: Joké Durojaiye
Guest: Tanya Nazaria, Founder of Brilliant Staging and Home Design

Episode Highlights:

1. Introduction to Tanya’s Journey
   • Tanya 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.
2. The Unexpected Start in Staging
   • Tanya’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.
3. Key Advice for Aspiring Stagers
   • Understand 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.
4. Importance of an Exit Strategy
   • From 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.
5. Building Operational Systems
   • Documenting 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.
6. Challenges in Selling a Business
   • Professional 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.
7. Navigating Emotional and Practical Hurdles
   • Tanya 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.
8. Building a Reliable Team
   • Discusses 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.
9. 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!
10. How to Connect with Tanya
    • Tanya 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.
  
  

What is Business Of Home Staging Podcast?

Business of Home Staging is the podcast for aspiring home stagers and entrepreneurs in any field looking to grow and scale their businesses. Hosted by Joké Durojaiye, a Small Business Consultant, Business Coach, and Mentor with extensive experience as a Real Estate Broker. Joké is an award-winning home staging expert, a Director on the National Board of the Real Estate Staging Association, a Licensed Real Estate Instructor, and three-time nominee for the Most Influential People in Real Estate Staging.

Whether you're in the industry or just curious about what goes on behind the scenes of a home staging business, this podcast delivers practical, field-tested lessons from a fully functioning small business. It offers proven methods to build a thriving business in any industry. The business insights, personal stories, mindset, check and strategies in this podcast applies to most small businesses.

Each episode is packed with no-nonsense, actionable tips on attracting clients, streamlining your staging processes, and boosting profitability. Whether you're dreaming about starting your own home staging business, preparing to launch, or are a seasoned pro ready to scale, you'll find proven strategies and inspiring, candid conversations designed to fast-track your success.

This is not a get-rich-quick business. If you are ready to roll up your sleeves and get things done, tune in to turn your creativity into a profitable reality!

Business of Home Staging LLC does not guarantee any specific results and is not responsible for any losses incurred from the use of the information provided in this podcast. The content shared is based on the author's experiences and personal insights. Neither the company nor the author offers financial, tax, legal, or professional advice. Listeners are advised to conduct their own research and seek guidance from a qualified accountant, financial advisor, attorney and other professional.