BEFORE YOU START A BAKING BUSINESS READ THIS

BEFORE YOU START A BAKING BUSINESS READ THIS!!!

Starting my own business was one of the most exciting experiences I've ever had. I had been baking as a hobby and decided to transition to a baking business owner. 

Though exciting ,starting a business can also be challenging. It's like walking in the dark, not really knowing your destination.

I had my own challenges as a startup because I  neglected some  very important steps I should have taken.

You could save yourself a lot of stress and time if you read and learn from this writeup .

First things first. As a baking  business owner ,you need to be clear about the kind of business you want to do. 

Imagine that you walked out of your house in the morning not knowing where you are headed. That would be disastrous and  you may not be able to  achieve  any specific thing because you aren't even sure of what you wanted, so anything goes.

Gaining clarity will help you to focus on relevant tasks that will help you achieve your business goals. 

 Then you need to think deeply if baking is really for you. Are you sure you want to be in the cake business and ready to put in the work? Do you understand what it takes? Baking can be  very stressful and it is not really glamorous. 

Give it a deep thought.

Deciding  on the price of your product is another thing you will need to do because this will determine the profitability of your business to a great extent.  Most bakers, especially newbies, are still groping in the dark as far as the price of their cakes are concerned. Please ensure that you get it right from the start.

I remember how frustrated I felt when I wasn't making profit because I didn't know how to charge appropriately for my cakes.

I had very good decorative skills but that did not translate to profit. So you need to  decide on the correct price for your products.  Business should be treated as business and you deserve to be paid well.

Waiting for customers to emerge from the blues is another mistake bakers and other business owners make. As a popular saying goes, 'Cash flow Is the lifeblood of any business.' How do you get it? It Is by selling to your customers.

As a business owner you have a responsibility to look for your customers wherever  they hang out. The era of staying put in your shop waiting for customers to come and buy your product is long gone.

 Social media has even made it easier. You need to advertise your product and put it in the face of your prospective customers so that they can be attracted to it. You can do this both organically and also doing paid advertisement.

 Also remember that you need to invest in yourself.  I never really knew the importance of getting education in the area of business. When I started my baking business, my major focus was to produce delicious and beautifully designed cakes.I didn't really know what it meant to run a profitable business. But I had to learn it much later. 

I encourage you please get an education in businesss in whatever way you can . It could be via an online business class,  finding a mentor, or reading relevant books that can prepare you for the world of business. Do it,  for it will produce results in your business.

Accepting the fact that growth takes time , will help you a lot. Do not start a business with the 'make money quick' mentality.Your business will not  start making profits automatically.

 As a baker and cake designer, you need to be patient and  put in the  work, so that your business can grow.. You need to position yourself to be able to grab your own share of the market as there are other bakers who are even more  competent than you in the market place. Positioning is key.

 

Learning how to sell is another important point I want to make.As a baker,  you are not just in the baking business, but you are in the business of selling cakes,pastries and any other related products and services.

Do not only get engrossed in the act of baking or decorating cakes, but also learn how to sell your products and services. 

A great sales person once said that your number one responsibility as a business owner is to sell your products so as to get more customers and that means more revenue in your business. The real deal is selling.

 Do you really understand the business of baking?

Give top priority to marketing because 

without it, your business will lack cash, which is the  lifeblood of your business. Marketing is obligatory, not a choice. 

That takes us to another issue; being clear about the problems your  business is solving. The market doesn't pay you to have the best products or services, it rewards you for solving problems. 

Understanding your market and your prospect's deepest desires, pains, fears and hopes should be your focus. 

There's a lot more to be discussed. Please do watch out for the part two of this write up.

 

Will this help you to to make a better decision in your business? If yes, how?