On Letting Your Business Grow and Evolve: Christie Zangrilli
This week, we’re preparing for the second conversation in our Money Mindsets series, a three-part conversation with local Austin leaders at the Capital One Café downtown on November 21, December 7 and December 19 exploring money setbacks, leveling up and staying financially informed.
Today, we’re publishing an interview with Christie Zangrilli about the growth and expansion of a business she co-founded three years ago, Party at the Moontower Rentals.
GIF by Heather Gallagher Photography
ABOUT CHRISTIE ZANGRILLI:
Christie is the co-owner of Party at the Moontower Event Rentals. She’s a brand-builder, pattern-lover, can-doer, child-wrangling type geek who likes to party.
Describe the way your business and projects have grown and/or changed within the last three to five years.
My current business is only three years old, so it has been all growth! When you first launch—because your business is all you’ve been thinking about—you expect people to start buying from you immediately. But it takes people a while to discover you and then be willing or have the opportunity to give you a try. It was almost a year before we saw any real traction. We’ve also seen an evolution in the type of clients we serve. Initially we expected 50/50 wedding and corporate clients, but now it’s clear that we corporate clients are our bread and butter. The reason, which is obvious looking back, is because our Austin-modern style much better fits corporate events versus romantic weddings.
What's a money tip or trick that you've learned recently?
Make an appointment with your CPA at the end of each quarter and have them build out a "progressive budget” and cash flow. The progressive budget looks at your budget versus actuals for that quarter (or if you don’t have prior history, then just look at what what you made/spent that quarter—this will then be the basis for your budget in the future). The cash flow will tell you the other stuff you spent on and should match up with your bank account. Based off this info you can easily see into the future and answer a lot of the questions we all struggle with. Send these questions to your CPA ahead of your meeting as well. For example:
How much can I afford to spend on additional inventory?
Does it look like I can afford to hire another person on within the next X months and if so, how much can I afford to pay?
What advice or lesson would you share with someone who’s at the start of doing their own thing?
Be somewhat prepared but don’t worry about knowing everything or having all the answers. There’s a point where you simply have to jump and figure it out on the way down.
Designed by Danni Wright
want more?
Join us at Money Moves and Mindsets this Saturday, December 7 from 10 AM to noon at the Capital One Café to hear Zangrilli’s story. Thanks to Capital One’s commitment to supporting women in entrepreneurship and small business owners, this event is free and open to the public with RSVP.
Can’t make it? We highly suggest learning more about our biannual conference WORK, a one-day event that presents new ideas and approaches to creative and entrepreneurial work. Hosting 300 guests every summer and winter, this biannual, one-day event's panels, workshops and speaker sessions touch on personal and professional development, marketing, wellness, business management and entrepreneurship. ✨The next WORK conference will be held in January 2020 at the University of Texas at Austin’s Rowling Hall.