Stacy Garcia: Transitioning Your Interior Design Business When Times Get Tough
Today with Stacy Garcia
Welcome to A Well-Designed Business®. We spend a lot of time talking about starting your business, growing your business, and implementing the basics that lead you to success. Today, we’re talking about what happens when that success is threatened. Recessions, disasters, and unforeseeable circumstances can threaten your business. But the way you respond to those situations shows your grit, determination, and ultimately determines your success as a business owner.
That’s what Stacy Garcia is talking to us about today. When the pandemic hit, the hospitality industry was hit hard. But Stacy figured out how to pivot, make changes, and grow a new portion of her business to meet the people’s needs and keep her business strong.
Pick it apart:
- [9:16] Stacy and LuAnn discuss the difference in starting your business and the challenges that come later on.
- [17:03] Stacy gives her insight into how the hospitality industry was impacted by COVID.
- [28:03] Stacy shares how she transitioned into the consumer side and grew a massive Facebook presence in just six months.
- [41:22] Stacy and LuAnn discuss the need for adjusting the way you operate your business during tough times.
- [45:15] Stacy dives into the way that going back to the basics of networking and sales saved her business.
LuAnn and Stacy Garcia’s Ah-Ha moments:
“Being brutally aware of the reality of your situation is goal #1.” -Stacy Garcia
“When people are in pain, there’s not a better opportunity to solve people’s problems, and when you solve people’s problems, you bring value to the table, and when you bring value to the table, the money will follow.” -Stacy Garcia
“The reason that the first recession we went through at Window Works, back in 91-92, was so difficult was because we did not face it soon enough.” -LuAnn Nigara
“When you’re the owner, you have to take a long-term investor’s approach, and so there may be years where the business just doesn’t produce for you personally. But the goal becomes keep it alive, because that’s how you can grow it back when the economy turns around.” -Stacy Garcia
More About Stacy Garcia:
An established leader in the world of design, Stacy Garcia is a successful creative entrepreneur and founder of multiple business enterprises: LebaTex, Inc., a distinctive textile supplier and Stacy Garcia, Inc., a licensing firm and design house. With brands like Stacy Garcia Commercial, Stacy Garcia | New York, Stacy Garcia Home, and Stay by Stacy Garcia, this internationally renowned designer and forecasting expert has partnered with some of the world’s leading manufacturers to create products that span from floor to ceiling for resorts and homes all over the world. She was voted one of the 10 leading voices in the hospitality industry and honored by ASID for Design Excellence. Her work has been featured in Interior Design, Boutique Design, New York Spaces, LUXE, Rue Daily and Architectural Digest.
Stacy has an established reputation as a preeminent forecaster of color and design trends, and is a Chairholder of Color Marketing Group, the premiere international color forecasting association. Stacy is also a dynamic public speaker with experience hosting panels, workshops and keynotes.
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Other Shows Mentioned:
#21 Stacy Garcia- A Thoughtful Conversation with a Design Visionary