Starting a business when you're in debt

Many home stagers who complete the Staging Diva Home Staging Business Training Program make $2,000 to $5,000 on their first project. Not bad for a business that costs next to nothing to get into!

But, does that mean it’s a good idea to start a business when you’re already deep in debt?

I started thinking about this after I was approached by the producer of the W Network TV show Maxed Out. It’s one of those reality shows where a financial expert helps a financially stressed woman understand how she got so deeply in debt and then gives her a plan to get out of it.

I have to admit I don’t have a lot of sympathy for someone who is in debt over extravagant trips, a luxury car, and a closet full of designer clothes and shoes. So perhaps I was a bit biased when they called.

But back to their concept. Apparently the wife in a couple that’s over $40,000 in debt wants to become a home stager. Maxed Out wanted me to appear on the show to help her learn about running a home staging business.

Although it’s always nice to have media exposure, I refused to participate. I don’t think anyone that’s deep in debt, with no resources behind them, should be starting a business!

You can make tons of money in home staging but it takes a great deal of commitment and follow through to make it happen. Ken Sater, a Staging Diva graduate in California, just wrote me that he staged 17 homes in his first year with an average fee over $10,000 each!

That might sound attractive to someone swimming in debt, but would such a person have the self-discipline required to get their business to that level of success?

In course 1 of the Staging Diva Home Staging Training Program, I share my secrets of success as an entrepreneur. One of these includes having a financial safety net. If you can’t keep a roof over your head and food on your table for the next 3 months, then you don’t have the resources needed to allow you to focus on your business growth.

Start staging part time while you keep your paying job, or start an aggressive savings plan while you have a regular income. And for God sakes, stop shopping for items you can live without!

Debra Gould, The Staging Diva
President, Six Elements Inc. Home Staging

Home staging expert Debra Gould is the only person teaching the business of home staging who combines an MBA in marketing, almost 20 years experience as an entrepreneur and the proven track record of actually growing a successful home staging business herself from scratch— not as a sideline to a real estate practice, but as a stand alone and profitable home-based business. Debra knows from first-hand experience what it takes to get a home staging business off the ground with a shoe string budget, and she knows how to attract home staging clients as proven by the hundreds of satisfied clients she’s served.

Learn more about how to become a home stager

[tags]home staging, home stagers, real estate staging, real estate staging business, start a business, debt, maxed out, home staging training, home staging business, staging diva, Debra Gould[/tags]

Comments

Patricia Ebrahimi says

October 19, 2007 at 6:26 am

Debra,
You write SO well. I love your groundedness! And, I completely agree with what you have to say about starting a business needing a financial safety net AND about the woman $40k in debt probably to places like Neiman Marcus aka Needless Markup and the like not having the discipline to make a go of it. Also, kudos to Ken Sater!!
Best always,
Pat
Debra Gould says

October 20, 2007 at 9:40 am

Thanks Pat, I appreciate the feedback!

Debra

“The Staging Diva Business Training Program is worth every penny!

While there are other home staging courses out there, I’m so happy I follow the business model Debra teaches in her program. It is specific, concise, and thoroughly explained.

In addition to her courses, Debra offers SO many supplemental materials that are incredibly helpful too. The community of Staging Diva Graduates is another bonus, as we all support each other and share each other’s wins.”
— Cristin Lyons (NC)*Raleigh Staging & Design

“The Staging Diva Program is very well organized and explains in the most straightforward terms how to set up your business, maintain and grow it.

By the time I was on Course 3, I had already completed three home staging jobs which more than paid for all the training!

Debra’s step-by-step process allowed me to start a 2nd career doing something I probably should have been doing all along!”
— Rob Reinhart (CA)*Make It-Home

“Once I decided home staging was for me, I was terrified of starting my own business. Staging Diva Training gave me the confidence to do what I love, and contribute to our income after being out of the work force for 15 years.

Debra gave me the information I needed to get over my fear of failure, charge what I’m worth, and get out there and start my home staging business!”
— Kelli Hughes (TX)*ReAbode Home Staging and Redesign

“I felt like I hit the jackpot when I found the Staging Diva Program. I bought it without hesitation and began my training immediately.

I’m excited and inspired. The courses exceeded my expectations and gave me the knowledge to confidently start my own staging business.

So grateful for what I learned from Debra. She shares her gifts and talents so generously!”
— Mary-Maye Lorriman (UK)*Room by Room Interiors Ltd

“The Staging Diva Program was such an influential part of my home staging business plan. The business tools, processes and procedures Debra Gould outlines in the program set you up for success.

I have taken other courses but none compare to the comprehensive program with Staging Diva.

I truly appreciate all Debra’s help and guidance through the courses and group coaching calls. She is such a great inspiration!”
— Lori Carbone (NJ)*Spaces That Speak Home Staging

“I love Debra Gould’s straight forward approach and candor. As a home stager, she knows first-hand what it’s like in the field. Debra is running her own staging business as a real business and knows what it takes.

Debra is truly an uplifting woman and I continue to aspire to follow her lead. Her amazing passion for home staging is felt all the way over here on the Jersey Shore.”
— Wynette Williams (NJ)*Red Robyn Interiors

“The Staging Diva Program taught me many secrets about home staging consultations— especially how to charge, and have no inventory.

I took another home staging course before Debra’s and the Staging Diva Program really helped build my business. Debra forced me out of my comfort zone, she is such an inspiration! Now I know I can make a difference in many people’s lives.”
— Susan Bierig (NJ)*Re-deZine The Shore Way LLC

“I loved Debra’s no-nonsense style of running a home staging business, it’s very easy and straightforward. She keeps it simple, and it all “clicked” for me.

I now have the confidence to get out there and do what I am passionate about. I knew I had the talent, and now I have the business knowledge to round out my staging business. Thank you Debra!”
— Judy Chizmar (PA)*Judy Chizmar Home Transformations

“The Staging Diva Program is fantastic! I wish I had found it before completing a different home staging course. The program provided me with valuable business information that the other course lacked.

I am very impressed with Debra Gould. It is quite evident that she is honest and ethical in all her dealings with her students and clients, and that’s #1 in my books.

She truly has become my mentor!”
— Monique Milne (MB)*Milne Well Dressed Homes (MB)

“I’m so glad I came across the Staging Diva Home Staging Training Program. It’s a perfect fit for me with Debra sharing her business model and what has worked for her. She takes the guess work out of how to run a successful home staging business.

Debra is supportive, down to earth and has a wealth of experience under her belt. I can now express my creative passion with more confidence following her guidance.”
— Shelley Giffin (QLD AU)*Rooms for Miracles

“The Staging Diva Program is very comprehensive, flows well, is explained simply, and the content is engaging. I loved the combination of information from Debra mixed in with student questions.

I do not need a business background to be successful as a home stager after taking the Staging Diva courses. They gave me the confidence I needed, to know that I can be successful.”
— Haana Nyamekye (MD)*Zuri Sophia Interiors

“I love that I’m pursuing a career that pays me to be creative, rather than spending my time working for someone else.

Plus, I have the freedom to be available to my family when they need me.

The Staging Diva Program filled in all the questions that I still had after completing another ‘hands on’ program. Thank you Debra, I now have the confidence to build my staging business.”
— Tracie Lacroix (BC)*Sold by Design

“This is the first time in my 57 years of life that I am pursuing something solely for myself — despite my often paralyzing fear!

I’m optimistic and excited to see what the new year has in store for me— due in large part to having found the Staging Diva Program and feeling prepared to take this new journey as a home stager. Debra, thank you sincerely!”
— Lisa Tyus-Lee (OH)*Lights Camera Stage LLC

“Debra’s knowledge and expertise on how to start a home staging business have inspired me.

As a seasoned Real Estate Agent who already staged clients homes, I believe this is a great business to be in.

I am moving my dream of staging homes into a separate business because Debra taught me how in the Staging Diva Program. Thank you Debra!”
— Leslie Manson (BC)*Staging Homes by Leslie

“I appreciate Debra’s candid approach. It’s the reason I chose the Staging Diva Program over other home staging courses.

My first project sold the first day on the market for more than the asking price. This confirmed I’m in the right business.

Thank you, Debra!”
— Casey McDougall (TX)*Custom Home Staging

“I loved the Staging Diva Program! I was skeptical about the format at first, but it was great. The notes were concise and easy to follow. Students asked questions I was wondering about myself, and Debra is clear and direct.

I’m confident in my decorating abilities, but wasn’t sure how to run a professional and profitable staging business. Debra walks you through the entire process.”
— Deborah Brischler (CA)*Home Staging Solutions

“The Staging Diva Program will help me avoid possible mistakes and has provided great clarity on many grey areas— which is great!

I love staging homes and since doing the program, I love it even more as I am confident that I can provide a really worthwhile and valuable service! These home staging courses are very practical. I wish I had completed them sooner!”
— Clodagh Doyle (Ireland)*Placelift Property Renovation Specialists

“I have never been so driven, passionate and totally motivated as I have been since completing the Staging Diva Program. I have not lost any steam nor any excitement.

The fact that the program is start-up business and marketing related to home staging makes it so perfect.”
— Dane Caldwell (ON)*2 Hounds Design

“I knew what I wanted to do as a home stager, but I didn’t know how to go about it. Staging Diva gave me the processes and I followed them.”
— Meg Ritchie (AU)*Gold Coast Homestaging

“I already have a knack for the decorating part of home staging, but I lacked the business side of things.

The Staging Diva Program was great to have at my fingertips so I could listen at my own speed and in my own time.

I was concerned about handling all the paperwork I thought had to be involved in the contracts and such, but Staging Diva has made it SO much easier!!”
— Amy Brown (MO)*Simply Staging by Amy

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