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Event invoice sample for Inventory

[Music] hey guys welcome back to my channel my name is langelle kuzar and i'm the owner of yes event decor and more in this video i wanted to talk to you guys about managing your inventory so i wanted to record this video to go over the mistakes i make and have made when i'm managing my inventory so that you could avoid making these mistakes alright so let's get started before we get into this i want to encourage you to watch this whole video i'm pretty sure there's a mistake that i'll touch on that you may be making in your business managing your inventory is so important in this business if you don't manage your inventory correctly that could be the difference between your company making a profit versus your company not making a profit all right and make sure you stay tuned to the end i want to tell you guys about this new inventory management system that i'm super excited about i've been working so hard over the past two weeks to get it up and running all right so let's get started i have 10 mistakes that i'm going to go over with you guys the first mistake when it comes to managing my inventory is ordering new materials and new supplies before i check my existing inventory i literally just did this last week i ordered some table linens for an event that i have coming up in july without even checking my inventory and guess what i already have those table linens in that same exact color this is a major mistake that i have made in the past and i want you guys to avoid making that same mistake because you don't want to spend money on materials that you already have in your inventory we are in business we are running businesses so you have to count every single dime that you spend because when you're spending money you're taking away from the profit that you're making for an event so you don't want to spend money if you don't have to so please make sure that you check your inventory before ordering new materials and new supplies the second mistake that i have made in the past is not tracking my inventory so i would just order stuff and order stuff and order stuff and i had no idea what i had in my inventory so you want to make sure that you are always tracking what you have in your inventory so you want to know what color tablecloths do you have right you want to know how many do you have you want to know dimensions so are they round tablecloths are they rectangular tablecloths right so you want to know what size you want to know the count you want to know the color right you want to know the material and the fabric so are they polyester are they satin right are they sequined so you want to track your inventory and know exactly what you have the third mistake that i made when it came to managing my inventory is not keeping my inventory organized okay so this is very important you want to keep your inventory organized you want to have things labeled you want to keep them in bins right you want to make sure that your inventory is organized so a couple of months back i made a video where i walked you guys through my inventory so i'll definitely put the link in the description and i'll put a card up top so that you guys can see my inventory and my storage unit and how i keep it organized okay when you have an event and you only have but so much time to get to the event and get set up you don't want to spend a bunch of time in your inventory trying to find things okay that has happened to me before where i've had to dig through my inventory just to find the things that i needed for an event so you definitely want to keep your inventory organized along with that my fourth mistake was that i was just storing my inventory okay i was just putting it in my storage unit and just storing it i wasn't really setting it up in a way where i could work out of my inventory okay so you don't want to just stack boxes on top of each other you don't want to just stack bend on top of each other you want to have your inventory organized on shelves so that you could work out of your inventory it's very easy for you to go in there and pick up what you need and it's also very easy after your event for you to go back to your storage unit and put everything back in place okay so you don't want to just store your inventory you don't want to just put it in your storage unit and then leave it there you want to set your inventory up so that it's easy for you to work out of it the next mistake that i made when it came to managing my inventory is not protecting my inventory okay you want to make sure that your inventory is going to last you for as long as it possibly can okay so if you have vases you want to make sure that those are protected if you have fragile items you want to make sure that those are wrapped i keep my throne chairs wrapped in stretch wrap just to make sure that i can preserve them all right so you want to make sure that you're protecting your inventory and preserving it for as long as possible so i would recommend investing in some garbage bags some stretch wrap some bubble wrap some boxes the next mistake that i made when it came to managing my inventory is keeping my decorations all over my house so i want to warn you guys against this i know that this may be more affordable than getting a storage unit but i'm the type of person where i like for my house to be my house and i like for my business and my personal to be separated and if you keep decorations especially in this type of business where your inventory will grow very fast okay and before you know it your house will be cluttered it got to a point where i felt like i was suffocating in my house like i felt like i couldn't breathe because there was decorations everywhere and then it got to the point where i didn't want to have visitors coming into my house because there was decorations everywhere and it wasn't a good place mentally for me to be so i would caution you against keeping all of your decorations scattered throughout your house if you have a garage i would recommend putting your decorations in your garage and when you can afford it i would highly recommend you getting a storage unit for your decorations so that you could have that separation between your house and your business and here's another example that i make all the time so when i have clients who are booking me for wedding decorations i don't take the opportunity to upsell the client based on the items that are in my inventory so if a client is just coming to me for a backdrop i'll give them a quote for that backdrop rather than upselling the client having a conversation with the client to figure out what their other needs are because i have other items in my inventory that they may be able to use so let's say that client who needs a wedding backdrop also needs a table for their cake and they may also need some cake stands if i don't take the time to ask them the question is there any other decorations that you're looking for if i don't have that conversation with the client i'll just book them for that wedding backdrop and they'll go to somewhere else or they may go to amazon and purchase that stuff themselves okay so make sure that you're taking the opportunity to upsell your client have a conversation with them see what other needs they have and if you have those items available in your inventory offer them to the client so you can make more money along with that another mistake that i was making when it came to managing my inventory was not maximizing on my inventory for a while with my business especially with kovid i was just doing balloons and backdrops it came to the point where that was all clients were requesting from me they weren't requesting any table decorations because on my instagram page and on my youtube page and even on my website i was really focusing on balloons and backdrops it got to the point where i wasn't even going to my storage unit i was keeping my backdrops so my boxwood backdrop and my curtains and then my pipe and drake stand i was keeping all that in my house as well as my balloons and then it got to the point where i started to question why do i even have a storage unit if i'm able to decorate events with the stuff that i had in my house so when i made it back to my storage unit i realized that most of the stuff in my storage unit was table decorations and that's when i decided to create packages so that i could maximize on all of my inventory so i could maximize on the inventory that was just sitting in my storage unit so please make sure that you're going through your inventory and actively paying attention to what you have in your inventory so that you can maximize and offer those as packages to clients the next mistake is not having a price list for all of my decorations in my inventory and this is so important because you don't want to have to guess you know how much did i charge this client how much did i charge this client you want to know how much you're going to charge for each of your decorations okay so let's say that you order some red curtains for your inventory you want to know as soon as you order those red curtains how much you're going to charge clients to use those red curtains in their backdrops okay so you want to know for these drapes how much am i going to charge and you want to do that for every single item that's in your inventory all of your decorations you want to take that guesswork out of creating quotes because creating quotes can take some time right and especially if you have to figure out how much am i going to charge for this how much did i charge for this in the past you want to have a price list for everything so when it comes to giving a client a quote you can make that process as easy as possible you don't want to lose a client because you're taking too long to get them a quote and here's the last mistake that i was making i was not including the price of my storage unit and the price that i charge for my decorations this is another reason why i do not recommend itemizing what you're charging the client for because not only is the client paying for you to decorate the event but they're also paying for some administrative costs that come with the business it's just like walmart so when you go into walmart and you're purchasing items from walmart it's not just going towards you paying for that item it's going towards the walmart buildings it's going towards them paying their employees right it's going towards all of walmart's expenses and it's the same thing with our business the money that we make from decorating events should cover the cost of decorating the event and also cover any other business expenses that we may have so you want to make sure that you're including the cost of your storage unit into the price of your decorations this is something that i haven't been doing a good job of so when i'm calculating the profit that i need to make from an event i have to make sure that that profit also covers the price of my storage unit all right guys so those are my mistakes that i wanted to share with you guys i know it's a lot of information if you guys have any questions please let me know in the comments and also let me know if you need more details i can make more videos on managing your inventory so as i mentioned at the beginning of this video i have been working so hard over the last couple of weeks to get my new inventory management system up and running i am so excited about it because this new inventory management system is going to help me avoid making most of the mistakes that i talk to you guys about all right so i'm gonna put a link in the description for you guys my new inventory management system is called good shuffle and i love it so i can manage my inventory from there i can do invoicing from there and then you could do electronic signature so you can put your contract into the system and when the clients are looking at your proposal they can agree to your proposal they can pay their invoice and they can also sign their contract electronically so the process is really simple for them and it's really simple for you i'm gonna put the link in the description for you guys and then i'm also gonna be doing a separate video so i can do a live demo for you so i hope you guys enjoyed this video again if you have any questions please leave them in the comments and i'll see you in my next video [Music] you