Month: December 2016

How to achieve your Baking Goals in 2017

2017 is just a few days away.

So what are your plans for the New Year, especially your cake business goals.

You may be thinking what does baking have to do with goals?
Well let me tell you,  a lot.

Baking can help you with your goals and I will show you how.

I’m going to break down the process of baking a cake, and how you can apply that to your goals.

So lets get baking with goals.

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Step 1 – Decisions

How can you bake a cake if you don’t know what cake you want to bake.

There are so many different cakes you can make. Such as:

  • Vanilla
  • Chocolate
  • Redvelvet
  • Cheesecake
  • Fat Free

And so on.

It’s important you are clear about what type of cake you want to bake.

Why? Because the cake you bake will determine the ingredients that you need.

Goal:

Make your goal(s) clear and precise.  This will help you get to your desired results.

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Step 2 – Get all your Ingredients

You need to make sure you have all the necessary ingredients.

You cannot skip this step.  You’d be surprised at how many times I have gone to make a cake assuming I had the ingredients only to discover I’ve run out of baking powder.

When you know what is in your cupboard or store, you then know what you need to buy at the supermarket.

Once you have all your ingredients, then you can start baking.

Goal:

Get all the information you need to make your goal achievable and attainable.

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Step 3 – Follow the recipe

How do recipes come about? Recipes are the result of trial and error.  Someone has gone to the effort to refine and experiment the recipe so you end up with a great cake,

So it’s vital that you read the recipe before you start baking.

Once you understand the recipe, start your creation. But trust in the recipe.

Goal:

Follow the steps of your plan to get to your desired goal.

 

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Step 4 – Bake

You’ve mixed together your ingredients and your batter is ready.

So now pour it into the Cake tins.

Goal:

All your planning and preparation is now in action, and you are achieving your goal. Yay!

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Step 5 – Rest

The timer has gone off, and now your cake is ready to come out of the oven.

But it’s still too hot to eat, so you need to allow it rest and cool down.

Goal:

Take a moment to reflect on your journey.

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Step 6 – Icing on the cake

Once the cake has cooled down, it’s time to ice it, if you want.

Goal:

You may be completely satisfied with your goal and don’t need the ‘extra’s. But if you do want the icing on the cake then of course you’ll have to work for that too.

The icing doesn’t make the cake any less than what it is.  It’s still a cake, just dressed up.

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Step 7 – Enjoy your Cake

Your cake is now baked, it has icing or not.

So sit down and enjoy every last bite of your creation.

Goal:

You made it, reflect on your journey and be proud you completed and achieved your goal.

Are you ready to finally start making serious money in your cake business, so that you can get more orders!

                                              THEN REGISTER HERE

n5 (Just fill in your details below and  we shall contact you when  the E-Course is launched)

 

Is it about the Love or the Money?

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I’m going to tell you the truth 

IT’S ABOUT THE MONEY.

Passion does not pay the bills. Last time I checked the supermarket or the Market does not take passion as payment, nor does it pay the rent or the children school fees.

There is a perception in this industry that it’s not okay to actually want to make a real living out of creating cakes. That somehow if you’re not doing it for the love, that’s not okay. Maybe it’s because we are all expected to be “starving artists,” but honestly I’d much rather be a well-fed artist who can continue to create cakes than a broke one who needs to take an extra job in order to stay alive.

Your business needs to have a much big purpose than just creating gorgeous cakes. You need, to be fully committed to making money from your cake business, otherwise there is no reason for you to be in the business. You might as well keep it as a hobby.

Some bakers may tell themselves, that I’m not actually in business, that we only make cake for family and friends and we only charge people for their ingredients and they only do it because they really love it.

There’s no problem with that…except of course when that person has a Facebook business page, has business cards, or is telling people to pay them more than the cost of ingredients. As an example, are you really going to your sister and say, “Okay, so I’ve added up my receipts, and for ingredients I paid N8,000,” and then expecting her to really only give you N8,000? Oh, and if it’s for the love, why do you even use the words “charge them” for ingredients? A charge implies a fee for the purchase of goods, doesn’t it? So you need to ask yourself, Are you in business or not in business?

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From others I hear, “I’m in business, but I’m not doing this for the money.” Answer me this: if you were not in it for the money…why are you building your website, baking cakes, making fondant, teaching, working out your prices, writing tutorials, creating and selling cakes? Why on earth would you bother with the craziness of being IN BUSINESS if you were not in it for the money? Are you telling me you work 9-15 hour days, have a bad back from standing all the time, answering emails at 1 am and haven’t slept late on a Saturday morning in  years because IT’S JUST FUN?

My dear, that is not fun, its being in Business

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It would be very, very nice to have a sugar Daddy, win the lottery or have a money tree in your compound which would allow you to just give everyone free cake, teach everyone for free, and invent and give away cakes for free. That’s not going to happen, so instead build a business that makes MONEY.

I’m not taking about tens of millions (although that would be nice) but enough money to pay yourself a decent salary so you can afford the groceries and the school fees and the cake equipment.

You can define your level of success in many different ways but one of those has to be MONEY.

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Let me explain that in more detail. I’m sure you want the best in life and if you have kids, you want that for them too. You know good schools are expensive and if you want them to school abroad (taking in mind of our erratic exchange rate), you will need a whole lot more money (and let’s not forget the books, the uniforms and the field trips too).

Perhaps your definition of success is just to be able to make enough money to buy instead of rent my house, afford a vacation in Dubai once a year…or just buy groceries without having to price compare.

 It doesn’t really matter where you would spend that money or how much of it you want to make, what matters is that you are honest and real about needing to earn that money in the first place.

You are probably in this for MANY reasons – perhaps lifestyle, artistic expression, love of cake, passion.

 But if one of those is not money then you have no business being IN business.

Are you ready to finally start making serious money in your cake business, so that you can get more orders!

                                              THEN REGISTER HERE

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 (Just fill in your details below and  we shall contact you when  the E-Course is launched)

HOW LONG WOULD IT TAKE BEFORE I MAKE SERIOUS MONEY IN MY CAKE BUSINESS

We’ve all heard that 9 out of 10 businesses fail. So you may be thinking why should I even bother about starting or being in the cake business.

For the brave ones who still go into this business, you might be wondering when can you expect to finally be making some money out of it?

Before I answer that, let me point out that your first thing is to work out what “some money” actually means. Financially speaking we all have different goals – for some, enough money to pay for family extras like schools fees and holidays in Dubai.

For others, enough money to support an entire family. You’ve got to work out HOW MUCH money you need and want to earn as a first step.  If not, NO amount of money will ever be “enough” because there is no definition for what “enough” is.

So let me give you an idea of how a 5 year plan to money making looks like for a home based cake business:

  • Year One: 

You hardly will make any money in the first year as you will be plowing every Naira you make back into the business to grow it. This is the year you’ll invest in your business (such as websites, training, marketing etc) so the year is about putting in and not taking out. Your pricing is probably also not the best but it covers the cost of ingredients.

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  • Year Two: 

You will make some money, but you will still need to plow back very money you make back into the business to grow it. This is the year you start to get more serious about things. Your skill has improved, your pricing is more structured, which will probably cover your goods, overheads and your labour costs. 

 

  • Year Three: 

You may be getting frustrated at the point and may feel like quitting, because you feel you are not making enough money. You may be asking yourself, ‘Why am I working so hard for so little?”.

So you start to bring some strategy on how you do business. Your cake decorating skills have improved, you’ve learned to speed up you orders, and you’ve started to feel the pain of working for no money – so you start to take some money out of the business and pay yourself a salary. HOORAY!

By this time, you would have determined your niche (or are working on it) and you’re starting to feel like you control your business as opposed to the other way round and you’re  starting to think about scaling up or out.

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  • Year Four: 

You’ve been getting paid for a while, you’ve started investing a bit heavier into your business (business coach, business classes, , more heavy-duty equipment or maybe getting a small cake shop) and you’re starting to see how you can make this thing work.

You’ve started to build profit into your prices, you’ve got a niche (or several), you may have an employee or helpers of some kind who are also paid and profits are starting to appear in your balance sheets. 

 

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  • Year Five: 

This is when things start to feel like you can breathe a bit because you’re getting paid, your employees get paid, you’re seeing profit, this whole thing is starting to feel worthwhile. 

Those cycles of business might take you a shorter or a l longer to meet, it really depends on how much time and investment you put in but invariably those things will happen.

 Business is a process. How long it will take you to be successful depends entirely on your definition of success, how much time/effort/money/marketing you’ve got to invest, and your ability to keep on keeping on each time you feel you want to give up.

Are you ready to finally start making serious money in your cake business, so that you can get more orders!

                                              THEN REGISTER HERE

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 (Just fill in your details below and  we shall contact you when  the E-Course is launched)

How to Know what type of cakes to sell so you are always making money

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So, you want to start a cake business?

Fantastic – but unfortunately so does almost every other baker who loves to bake. How are you going to stand out? How will you succeed even when there are other already established bakers to compete with? How will you get your own customer base and following?

Well the answer to that is:

Find your baking niche

Just as with every other business whether product or service based, you need your unique selling point. In other words –– you need to find your niche. The thing that makes you exclusively you and your cakes exclusively yours.

For some people, finding a niche is simple. They already have one key strength, one driving passion and they go with it, whether that’s for edible art, fondant cakes or custom birthday cakes or desserts.

But what if it’s not that easy for you? You’ve done a few cake decorating classes, made a mixture of buttercream and fondant, cake and cupcakes – how should you know what you should focus on? And even then, how should you know whether people will want to buy it anyway?

These worries are completely normal, so today I’ve put together a few things to consider when finding your baking niche to help you follow your heart and have the baking business of your dreams.

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1. Where do your strengths lie?

It’s usually a good idea to play to your strengths. If you make amazing piped buttercream cupcakes, then why not start off selling cupcakes at events? If you’re great with fondant, why not offer more traditional celebration cakes to start with? If you start out strong, you’ll set yourself up well and can branch out into other baking styles as and when you or your customers wish.

2. What are your competitors doing?

This question works in 2 ways. Firstly, knowing what your competitors are selling a lot of tells you a bit about the demand in your local area. Are people buying tons of Christmas and seasonal cakes? What about the new trend for naked cakes? Or are you getting more cupcake orders? This is what good market research is for

Secondly, although you know where some demand now lies, you need to find a way to set yourself apart. Don’t necessarily offer what your competitors do just because you know it’s selling. There might not be enough demand to sustain several similar cake businesses and you need to set yourself apart from the other crowd of bakers, so use the information to work out your own specific style and cake baking niche. 

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3. What is the demographic of your local or delivery area?

Where do you live? Knowing who your ideal customer or target market are is essential when designing your cake products and pricing them. If you’re catering to a community of young business men and women, the types of cakes they’ll want might differ to a smaller area with families.

Likewise, the occupation, disposable income, age and interests of your ideal customer can all influence what type of cakes they will want to buy. Make sure the cakes you want to sell meet the needs of your ideal customer.

4. What do you love to do?

As well as playing to your strengths, I believe it’s important to do what you are passionate about. If your passion is in your cakes, people will know and appreciate the effort, attention to detail and love that you put into each order. It makes a difference.

So if you’re good at sugarcraft but find it tedious and prefer naked or fruit or dessert cakes consider including them in your cake portfolio. You need passion, skills and demand to be successful, so make sure you love what you do.

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5. Is there anything people comment on that you do differently?

When you’re baking regularly, it’s easy to fall into a pattern of thinking what you do is normal or typical or average. It’s easy to be overly modest and undervalue your skills, experience and expertise. Friends and family who see and taste your cakes can be really helpful at this point because they can help you see the things that make your cakes uniquely yours. Do they notice a certain flair for decorating? Some extra amazing and unusual flavours? No design is too intricate? Other people can help you realise what it is that makes your cakes special, an important selling point for your cake business that can guide your choice of niche.

Take some time out to work through these five points with examples from your own experience, then comment below with what your baking niche will be! Still not sure? That’s okay too, comment below and let me help you out!

Are you ready to finally start making serious money in your cake business, so that you can get more orders!

                                              THEN REGISTER HERE

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   (Just fill in your details below           and  we shall contact you when        the E-Course is launched)