/Hey there CEOs. Welcome back to the wedding pro CEO podcast. I'm your host, Brandee, Gar. And this is the podcast to help you grow and scale your profitable wedding business. Today is part two of our summer series taking you behind the scenes of my mastermind programs so that you can learn a little bit more about how we teach what we teach and the proven strategies that we have that have taught over a thousand wedding pros, how to grow and scale their business. Today.
This is going to be a live coaching call inside of my inner circle group. The inner circle group is designed for wedding pros who were already over six figures are scaling to multiple six figures. And are hiring their first or next full-time team member. In this coaching call, you can hear me walk through with one of my students, exactly how to know whether she can afford to hire a full-time team member onto her team.
This is a really important exercise that we do so often inside the program and listening to exactly how we walk through this and the numbers that we're using is going to help you to determine whether you can afford a full-time team member or what you need to do in your business to reach that goal., this is such an important episode and I cannot wait for you to dig in.
Yeah, what I'm trying to, cause I feel like I wait to like hire or like start figuring out next year until the end of the year I'm just looking at our numbers and what she told me is she would need a minimum of 60, 000 to like leave her other job, go full time, all that good stuff. And I was like, can I afford that? So if she needs to make 60, 000 then okay, so you're going to pay her 60, 000 which means we really would like for her To produce 120, 000 in weddings. That's ideal.
Now, obviously that's if she's doing 60 percent weddings and 40 percent administrative or her other role, right? Or close to that, close to a 60 40 split. if I needed her to produce 120, 000 in weddings. One, could she? Do we have enough weddings for her to do that? Two, would it, based on our current pricing structure, would that be way more than 60 percent of her hours? And that's where the point system comes in, right? This is how we're figuring this out. It's all data driven.
So if you need her to produce 120, 000 of weddings, what, let's work through it so everybody can kind of listen. If you need her to produce 120, 000 in weddings, what is one point worth for your company? One point is Should be equal to your event management pricing. Yeah, so we just, yeah, so 3, 400. 3, 400? Okay, so basically you would need her to handle 35 points of weddings to execute that 120, 000. Now, how many hours is each of your points worth? Each point is worth 30.
Okay, so if you, so the way you're going to figure out if she has enough time to execute 120, 000 is you're going to say, okay, so she needs to do 35 points of weddings and each point is worth 30 hours. So that means 1, 050 hours are going to be spent in wedding work. Does that make sense? For you, I really want 60 percent of her hours to come from weddings. She should be able to spend up to 1, 250 hours on weddings. Okay. I mean, yeah, like we're almost there, basically.
Yeah. Yeah. So, and that's kind of how you think about it. So then if you're like, can I afford it? The questions that you're asking is could I book her 120, 000 in weddings? I don't think that's going to be an issue for you. Right. Can you book her 120, 000 in weddings? And if so, why wouldn't you be able to afford it?
And obviously we want to plug all of that into your budget when we go to do budgets in August and make sure it's going to work because you're producing well, less weddings because you're the CEO and you're stepping back. So you are going to have to make that up somewhere.../ in this episode, you heard me talk about the point system, which is the proven system that I teach inside of all of my programs to help wedding pros understand profit.
And how your hours to dollars correlate with each other. This is how we understand how much money we're making, how much we can afford to pay our employees. And if we're ready to outsource. you want to learn more about the point system or how I teach wedding pros, how to two and three X, their revenue by building teams and increasing profit, shoot me a DM over on Instagram. I'm @brandeegaar, and I want to help you understand your numbers to empower you to grow your wedding business.