Happy new month!
We are now in a new quarter. It took me a while to put my head round the fact that already 3 months have past.
I had to take a look at my 1st quarter goals and observed that I have not made as much progress as I thought I would when I set my goals in January this year.
Yes I have made good progress in some areas but there are still some areas that I really have to get a move on. Maybe I was bit over ambitious.
So while preparing my 2nd quarter goals I am going to scale down a bit and concentrate on the most important goals plus follow up on the ones I failed to achieve.
That is the key to goal setting and looking back. It helps you to take stock and revaluate.
So did you meet your 1st quarter goals?
If you didn’t, don’t beat yourself up. I too didn’t realise everything I set on my list but I know I tried. So quarter 2 is another opportunity to try again.
As every successful entrepreneur says, you should never give up.
This week, I want to share some of my best business advice and success tips I have learnt along the way so that you can crush your 2nd quarter cake business goals.
You can’t afford to sit around waiting for to get capital to start your business, or hoping and praying that an angel investor will come along to help you implement your idea.
If you do not have money to start your business, with as little as N5,000 you can buy ingredients and start selling cupcakes to people, so little by little you can start raising your own capital to start or buy equipment for your business.
The only way to learn is by doing, stop complaining and harbouring negative thoughts, and stop making excuses. All these won’t help you start a business and it sure won’t help you have the income you want for yourself.
It does take longer than expected to get a steady stream of Customers and Income
I’m sure you already know this already. Whether you started big or small, it takes time to know how to sell, market your cakes, knowing what works in your business to get customers, how to price you cakes well and how to use social media in your business.
You have to realise that the only way you can get more orders and customers is to market yourself more.
If you have no idea how to market your business, I have a Marketing course that can help. It is called The Ultimate Guide To Marketing Your Cake Business which is a 4 Week comprehensive Cake Business Marketing Course that will guide you on all marketing techniques and strategies to promote your cake business so you can make more money.
It is not going to be easy, you will not become a millionaire overnight but with adequate planning, being positive and having enough passion you will see that your customers and income will begin to grow.
Don’t experiment with too many recipes at the same time
You must be consistent with your recipes.
Do you have 2-3 different vanilla recipes? Once you have found a recipe you like which is tried and tested, keep to it. A customer does not want to be eating different versions of the same cake each time they make an order. Your cakes are your signature and we know a signature usually remains the same.
Also cake education is a must. You should know the different types of cakes suitable for different uses like for carving, creating tiers, doing gravity cakes, cakes suitable for our hot Nigerian weather and so on. Also what preservatives to use to make cake last and how to change recipes to suit special dietary requirements or requests.
All these knowledge will definitely put you ahead of the competition.
Have a Good List of Suppliers
It is always convenient to have a good list of suppliers who are reliable and provide good quality, and they are readily avaliable
You do not want to have an order to create a Spongebob cake and you are looking and going from market to market, shop to shop looking for the necessary cake pan. If you have a supplier, you can just make a quick call for delivery. This way you can concentrate on creating the best cake possible for your customer.
Yes I know, it does take time to build these suppliers contacts list, however make sure you find the ones who are reliable, the prices are reasonable, have an option for delivery, give great customer service, and whose products are of good quality.
So do your research, Google and you can even ask your baker friends where they get their supplies from.
Have a Clear Company Policy for giving Discounts
We all get these type of customers. Those you complain about our price, those who want a cakes nearly for free.
So how do you deal with these customers? Make it a point to have clear guideline as to when and who you will be giving discounts.
Know how to charge for family and friends and the general public. For example you can make it a policy to give a 40% discount for family and friends and for the general public you will only go as low as 5-15% or offer them some cupcakes instead of a discount.
It’s your business, so your rules. Don’t let a customer dictate what price or discount you should give them.
Never stop building meaningful relationships with customers and other people in the baking and event planning industry.
Don’t really view them all as your competitors. View them instead as collaborators or potential partners. You never know what additional business you can get from these partnerships.
Don’t give up
Like in all businesses, you will have good and bad days. You may deal with a difficult customer, or a cake may collapse as you are delivering or a whole month may go by and you haven’t had a single customer.
Yes it is disheartening and yes you will feel like giving up but please don’t. It is only a phase. Yes cry if you want to , but after you have had your little pity party, dust yourself of the floor, dry your tears and get on with it. The world is waiting for your cakes.
So what are your plans for the second quarter. What are you going to do differently now so that you ensure success for Q2. Will love to hear from you, just comment below.
Hello, my name is Rotimicakelady and I am a cake business coach that teaches cake business owners how to grow and have a profitable cake business so that they have a constant stream of customers buying their delicious treats.
I have been running my own successful home based cake business for some years now. I have also been teaching bakers through my online courses who are struggling with low sales, with strategies on how to market, and price their cakes for profit.
In addition I am also run a Facebook Group where I coach, offer support and help bakers in their businesses.
I have helped over 50 bakers through my online course ‘A comprehensive guide to starting your cake business in 30 days’ with much needed information on how to start a cake business in Nigeria. I also teach close to 4000 cake enthusiasts through my Facebook Group how to run a money making cake business.
I have been featured in ‘Naija Top Baker’ magazine, one of Nigeria’s foremost cake magazines and also been a Guest Speaker at the Bakery World Convention.
If you are struggling with getting customers for their cakes, I can help you solve this problem by showing you how to market, sell, price, plan, structure and brand your business so you are constantly selling to the right people who want your cakes.
We are available on a number of social media platforms where you will find educative content, videos, audios and other resources to help you in your cake business.
So please check them out and don’t forget to follow, subscribe and engage with us on all the baking Business School accounts.
This is where you will find educative content, videos, audios and other resources to help you in your cake business.