Strategic Plan: A Simple Starting Point for Stagers

Attention all home stagers! As the new year unfolds, it’s crucial to stay agile in our dynamic industry, where trends shift as rapidly as the market itself. It’s time to recalibrate, set new objectives, and harness the fresh opportunities that 2024 brings. I’m Felicia Pulley, your Creative Director at RESA®, here to talk about the power of a well-crafted strategic plan for your home staging business, big or small.

Industry Insights:

In the ever-evolving landscape of real estate, staying ahead means understanding the current shifts and trends. This is crucial for your strategic planning as a home stager.

To stay at the forefront of home staging business trends in North America, I highly recommend consulting the ‘State of the Home Staging Industry Report‘. This comprehensive report will provide you with valuable data about how home staging companies are allocating their budgets, what they are paying their employees, how much they spent in inventory in 2022 and 20223 + more, aiding you in aligning your business strategies with the latest developments in the staging industry.

Anatomy of an Effective Strategic Plan

Your strategic plan should be your blueprint for navigating through the ebbs and flows of market trends, and technological advances, scaling your business, refining objectives, and ensuring sustainability.

Technological Integration: The technological tide is turning, and with it comes a plethora of tools to elevate your staging game. From immersive 3D tours to cutting-edge virtual staging platforms like Apply Design, identifying and incorporating at least one technological advancement into your strategic plan is a must for staying competitive and efficient.

Growth Mapping: Growth should be envisioned as a continuous journey, not a final destination. Your strategic plan must outline clear, actionable steps for business expansion—be it through broadening your service offerings, building your team, or amplifying your market presence. Establish measurable goals and define timelines to keep your trajectory on course.

Goal Setting with Vision: As someone deeply embedded in the fabric of RESA®, I’ve witnessed firsthand the transformative effect of aligning goals with passion. Set ambitious yet attainable goals that challenge your team, captivate your clientele, and align with the SMART framework: Specific, Measurable, Achievable, Relevant, and Time-bound.

Sustainability as a Cornerstone: In 2024, sustainability is not just an ideal but a necessity for home stagers crafting their strategic plan. It’s about creating a resilient brand and business model that can weather market changes and evolve alongside industry trends. Consider how to structure your business so it remains valuable, attractive, and ready for eventual succession or sale.

Final Thoughts on Strategic PlanningRemember, a strategic plan is akin to a living organism—it should grow and adapt to your business. As you implement your plan, remain flexible and ready to pivot when new opportunities or challenges arise.

Before you dive into strategic planning, ensure your business foundation is solid with a comprehensive business plan. RESA® offered an exclusive webinar with Shauna Lynn Simon in late 2023, which covered the nuts and bolts of business planning: from mapping out your goals to crafting a marketing strategy that attracts your ideal clients, and how to adapt your plan as your business flourishes. This session helped RESA® members with a business plan that will not only guides them but also impresses investors, lenders, and potential partners. If you are an active RESA® member you can access the replay on the Real Estate Staging Association’s website.Turn your strategic plan into a dynamic, living guide for success in the staging industry in 2024!