10 Lessons from Closing My Event Planning Business After 10 Years
Closing a business that you've poured your heart and soul into for a decade is not easy. It's a decision filled with mixed emotions, reflecting on the past while stepping into the unknown future. As I navigated the process of closing my former business, Sensational Soirees, last year, I gained invaluable insights that have shaped my perspective on life, business, and personal growth. Now, more than 8 months later, I’ve had a chance to reflect even more, and today I’m unpacking 10 lessons emerged, which highlight the importance of embracing change and growth.
1. Some Things Are Just for a Season
Just like the changing seasons, businesses also have their cycles. Acknowledging that some ventures are meant to flourish during a specific time frame helps us release the pressure of making something last forever. Five years ago, you couldn’t have paid me to believe that I would have closed Sensational Soirees. At that time, I was focused on scaling the business, and I had high hopes and big dreams for the future ahead…a future that I thought would carry on for another 2 decades. While it’s valuable to have your sights on longevity, the lesson I learned is the importance of adapting to new opportunities and seasons, as they arise.
2. Passions aren’t Always permanent
Passion is a driving force behind many successful endeavors. However, being passionate about something doesn't necessarily mean that flame will last forever. And that’s ok! Embrace the new passions that flow, and don’t force old passions to remain. Also recognize that being good at something and passionate about something are 2 different things. While I was an event planning expert, which means certain things just came to me so naturally, I ultimately realized that I lost the passion for it. Sometimes, moving on from what you once loved is the right choice to allow for new passions that have emerged to grow.
3. Evolution and Change Are Natural
Change is the constant in life, and businesses are no exception. Embracing the idea that growth involves change helps us move beyond our comfort zones and evolve into better versions of ourselves. Businesses that resist change can quickly become stuck. Allowing for evolution opens doors to new and exciting opportunities. We are allowed to change our minds, even if that means throwing in the towel.
4. Endings Can Be Positive
The notion that all endings are negative is a common misconception. Closing a business on a high note, when it is thriving and successful, is a powerful way to conclude a chapter. I am grateful this was my story. Now, I’d be lying if I said I never encountered challenges in 10 years. There were some tough days, but the good days far outweighed the bad. I ended with an amazing team alongside me, after serving countless of amazing clients over the years, many of which have become friends. I ended with 5 star reviews under my belt and after achieving so many of the long term goals I set out to. This all made ending hard, but it made it sweeter knowing I left on my own terms. By ending on a positive note, it paves the way for new beginnings and preserves the positive memories and achievements associated with the venture.
5. Saying No Opens Doors to Saying Yes to Yourself and your next chapter
Saying yes to everything and everyone can lead to burnout and spreading yourself and your focus thin. By learning to say no, you regain control over your time and energy. This newfound freedom allows you to say yes to opportunities that resonate with your goals and current season of life. Saying no is a deliberate choice to prioritize what truly matters to you. By saying no to Sensational Soirees, I was able to say yes to this blog and my brand, along with myself and my family, so I don’t regret the no at all.
6. Don't Overstay Your Welcome in a Season
Just as staying in a season longer than necessary can hinder growth, keeping a business alive past its prime can have detrimental effects. Recognizing when a season is ending and having the courage to move on ensures that you remain adaptable and receptive to new possibilities. Letting go at the right time prevents complacency and paves the way for fresh experiences. I contemplated closing for well over a year, so while it was good to give myself ample time to assess if this was a permanent or fleeting feeling, I ultimately knew my time was up and that season was over. No one knows when it’s time except you.
7. Prioritize Your Own Path
It's tempting to hold on for the sake of others, but ultimately, you have to prioritize your own journey. Making decisions based on what's best for you, rather than external expectations, leads to a more fulfilling and authentic life. I’ve had so many amazing clients over the years, and it was hard to just cut the cord on serving them completely. I second guessed and said maybe I would let the team run the business, while I remain a silent partner, just as a way to still hold on. Ultimately, I knew I had to completely let go and that was for the best.
8. Honor the Present Season
You can’t remain stuck in the past. You have to lean into the now. Just because things have always been a certain way, doesn’t mean they have to remain that way. Just because you’ve been known for 1 thing for a significant amount of time, doesn’t mean you can’t create a new identity. The same goes with our careers. Whether you went to school for 1 thing and then did something completely different later in life, the choice is always up to you. It is so important to embrace the present season of life. Your current interests. Your current responsibilities and more. This deepens your understanding of yourself and your circumstances, fostering personal growth and resilience. Embracing the current season allows you to gather experiences that become stepping stones for the future
9. Nothing Is Ever Wasted
Even if a business venture concludes, the skills, knowledge, and experiences acquired during that time are invaluable. These assets become building blocks for your future endeavors, contributing to your personal and professional growth. It still wows me how everything is connected, including my time with Sensational Soirees. Who have thought that I would have went from planning other people’s events for 10 years, to then finding so much fulfillment and purpose in co-hosting events for women. The work I am doing alongside my good girlfriend Maaden with our Love X Glow event series has energized me in such a way and reminded me that nothing is ever wasted.
10. Embrace the Unknown
Fear of the unknown can be paralyzing, but it's essential to remember that the best is often waiting on the other side of uncertainty. Embracing the unknown with an open heart and a positive mindset opens the door to new possibilities and potential successes. Although I have full time job that helps support my family, Sensational Soirees also brought in income that supported my family, so leaving that behind to more fully pursue Shalyce Tyson Enterprises was scary! In full transparency, I’m not monetizing nearly as much now as I was with Sensational Soirees. However, that hasn’t stopped me from embracing where I know I’m supposed to be right now. It also hasn’t stopped me from believing that the best is yet to come…personally, professionally, financially and more!
Closing my 10-year business was a bittersweet journey that taught me these profound lessons and many more that couldn’t fit in 1 blog post. As I move forward with a newfound perspective, I carry with me the wisdom that has emerged from this experience, shaping the way I approach current endeavors and embrace the ever-changing seasons of life.
What lessons have you learned from pivoting? Share in the comments.
Have a glowing day!