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Do You Have A Business Or An Expensive Hobby?

This is something many home based cake business owners struggle with, and I will admit have struggled with this in the past.

Treating your business like an expensive hobby instead of a business. You might be doing this right now but you might not know it.

So, in this blogpost I am going to help you recognise whether you are actually running a business or in fact just have a very expensive hobby.

If anything I say below rings true, then you may just be running a hobby rather than a fully-fledged business, then please go and register for my Pricing your cakes right to build a money making cake business Masterclass where you will be taken through the process to make sure you move away from hobby cake business owner and move into the role of a successful cake businesswoman.

  1. You have not even registered your company

One of the first steps in setting up your business is to register it at the Corporate Affairs Commission.  Structuring your business properly from the start sets the right tone for not only yourself but for your potential customers as well.

You will appear more trustworthy and professional if you have a duly registered company. How can you expect your potential customers seriously if you too don’t take yourself seriously?

  1. You do not know how to price your cakes

I know pricing can be a real struggle for cake business owners. Most times we do not know how much we should charge for our cakes and in the end we allow ourselves to be under-priced.

People value what they pay for. If a person values what you are doing, then you should charge appropriately otherwise they will value you less and you will be known as the cheap cake lady.

You are in business to make money, so you need to charge right for your time, skill and effort you put in in crating that masterpiece of a cake.

If pricing is a struggle for you then register for my Pricing your cakes right to build a money making cake business Masterclass and all your pricing woes will be out to bed.

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  1. You don’t know how much money you make from my business.

If you don’t know how much money you are making then you also don’t know if, or when your business is making a profit or loss.

This is a clear sign your business is an expensive hobby.

The foundation of any business is in good record keeping and keeping track of your expenses. You need to have bookkeeping and accounting systems in place. This will help you monitor the finances of your business.

If you cannot tell how much you made and how much you spent in previous months, then it means you’re treating it like an expensive hobby.

So, if this is you then please, please watch my Training on Bookkeeping Systems you should have in your cake business here and here and put an end to it now with my simple actionable tactics.

  1. You know nothing about marketing

Customers do not fall from the sky. You have to go out there to get them and the only way you can get customers is by marketing. 

Marketing your business is a must. There are various marketing strategies you can employ such as social media marketing, having a blog, sending out email or sms newsletters. You need to be doing some sort of marketing on a consistent basis every day, if not; your business will find it hard to survive.

If you are unsure about marketing, then register for Pricing your cakes right to build a money making cake business Masterclass which has an  entire Module dedicated to Marketing.

Stop waiting for people to find you and go out and go get them

  1. You do not keep track of your time

Do you how long it takes you to bake and decorate a cake from start to finish? How long does it take for you to give a quote for a cake, answering emails, shopping for ingredients and so on? You need to keep track of your time. Because you need to be paid for your time. You need to earn a wage for the time you use for an order.

If you feel you are worth N500 an hour, then if you spend 5 hours shopping, baking and decorating a cake, that means you will have earned N2,500. So that amount should be added to the price of your cake.

If you don’t know where you are spending your time then you have no idea what you are actually getting paid.

 

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6.    Your family and friends don’t take your business seriously

The energy that we give off about something reflects on those around us. If you are finding that your friends treat your business like a hobby, then it’s likely you are also speaking about it in that way as well.

What kind of language do you use when you speak about your cake business? How do you stand and how do you feel? All of these signals are emitted and interpreted by those around us.
If you are upset by a friend or maybe even family members  not taking your business seriously or they keep asking you for a free or a cheap cake, then this is a sign that you probably aren’t taking your business seriously.

  1. You do not have a website because you are still deciding what logo to use

If the reason you have not launched your website is because you are still deciding on what colours, or logo or theme to use, then you really are missing the point of being in business.

Yes it’s good to get those things right, but don’t spend time and a lot of money deciding on such trivial matters. You mind should be on how to get your business out there so that people will know you and you can start making money, how to add value and how to be different from the other cake businesses out there.

So that’s it.

I have struggled with all of these in the past, and many home based cake business owners do to. And this is something that I help my clients to deal with all of the time through my coaching programs and courses.

So, if any of these are true for you don’t worry. You are not alone.

The most important step is to become aware of and identify the issue, and if you have done this by reading to the end of this article, that is a huge step, well done.

The next step is to come over and register for my Pricing your cake right to build a money making cake business masterclass and I will give you some really actionable strategies that you can implement straight away to build a more profitable and lucrative cake business.

 

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JOIN THE MASTERCLASS HERE


 

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About Me:

Rotimicakelady is your personal cake fairy. She is a cake business consultant and Coach. She runs the Cake Business Owners Club where she helps bakers through Online courses have super profitable and successful cake businesses.

She has a passion for helping women who have a passion for baking, transition from hobby cake makers to successful and profitable cake business owners. She also help cake business owners who have struggling in their cake business with strategies to enable them get more customers, so you make more money. Rotimicakelady is passionate about Cakes, business and making money.

If You Are Still Getting The Same Results, Why Don’t You Make A Change?

Inspite of my busy schedule I try to read at least 2 new books in a month. I started this when i heard that millionaires read at least 30 books in a year. Usually I like to read historical romance’s but since i have started by business journey i only read business or self-help books that will help me improve my business and teach me how to manage my money.

I promised myself that once I hit my income goal, I will treat myself to a holiday and a trashy romance novel.

As you know I have launched my Pricing your cakes right to build a profitable cake Business Course. I put my heart and soul in this course and in the launch. I got a lot of interest for it, but was disappointed in responses when it came to payment.

It is just perplexing to me that here is a solution to most bakers problems and yet they are not taking action.

Anyway, this past week I have been reading ‘Secrets of the Millionaire Mind’ by T. Harv Eker. While reading this book it brought about some home truths to me.

In this Course I have just launched I have prepared an answer to most bakers and cake business owners problems. And it just amazes me when people just pass it by. A few years ago if I had come across a course like this I would have jumped at the chance, no matter how much it costs.

We need to realize that ”if you continue to keep on what you’ve always done, you’ll keep getting what you’ve always got”- Jim Rohn

That is why I created this course, my goal is for you to learn more so that you can have a better business. When you learn something new, you have a new way of thinking, new actions, and therefore new results.

That is why it is very important that you continue to learn and grow.

An author once said ‘ the learners will inherit the earth while the learned will be beautifully equipped to live in a world that no longer exist’- Eric Hoffer

In essence this means that if you don’t create the habit of learning on a regular, you will be left behind.

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I cannot think of the numerous courses, seminars, books and training’s that I have done. I have spent thousands and thousands of Naira on them. It is not like if I have millions of naira in my account yet, or that I’m waiting till I’m a multimillionaire before I pay for these courses, But I never see it a cost, but rather as an investment. I know that even if I learn just one thing that will make my business improve, then I know it is worth it.

If you are in business and you are doing the same thing and not making money, then sorry to say you are doing something wrong and maybe it’s time you try something new.

We all know the definition of insanity which is doing the same thing over and over and expecting different results.

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In the Eker book he said ‘some people claim they can’t afford to get educated due to lack of time and money. On the other hand, rich people relate to a quote by Benjamin Franklin, which says that  ”if you think education is expensive, try ignorance’’.

And I find this very true. When I launch a course, I find it curious that it is usually the people who are struggling or are broke that say; ‘ I don’t have money or ‘ I don’t need this course or I don’t have the time. While  it is those who are actually making a headway in their business or those who are serious and determined to be a success that will find the money to pay for courses., because they know that if they can learn something that they can use to improve there business, it is all worth it in the long run.

Mr Eker also said ”if you don’t have time to do the things you want to do or need to do, you’re most probably a modern slave. And if you don’t have the money to learn how to be successful, you probably need it more than anyone’’.

If you come across an opportunity for someone to teach you how to run a profitable cake business and you are saying I don’t have money. What is going to be different in 1, 2 or 5 years down the line? I am going to tell you this for free, the answer is nothing. You’ll be saying the same thing at that time.

This is by no means a curse; you have got to know that for you to make money you have to LEARN how to make money for your business. You have to learn how to market, price, selling and brand your products right. You need to learn the skills, strategies and methods on how to have a money making cake business.

As cake business coach it is my passion, my goal to train and teach and show you how to have a profitable cake business, so you can move from whatever level you are on now to the ultimate level.

This past week I got booked to make a cake for over N100k. And it is not a wedding cake. As I said before, I have scaled down by business to concentrate on Cake business Owners Club so I tend to only get about 3-5 orders a month. This gives me time for my coaching business and courses and before I take an order it has to be worthwhile. I no more take orders for less than N30k unless it is for family or close friends.

How was I able to structure my business in this way. It was by investing my time, money and energy in learning how to do this.

Success is a learnable skill.  You can learn to succeed at anything. Your cake business can be a success.

So if you find someone or something that can teach you, you should grab such opportunity with both hands.

The more you learn, the more you earn… and you can take that to the bank’ – T. Eker

 


The Pricing your Cakes Right to Build A Money Making Cake Business Masterclass is still partially open. You can get more details and all the modules covered in the Courses here.

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me3Rotimicakelady is your personal cake fairy. She is a cake business consultant and Coach.

She runs the Cake Business Owners Club where she helps bakers through Online courses have super profitable and successful cake businesses.

She has a passion for helping women who have a passion for baking, transition from hobby cake makers to successful and profitable cake business owners.

She also help cake business owners who have struggling in their cake business with strategies to enable them get more customers, so you make more money. Rotimicakelady is passionate about Cakes, business and making money.

So Is It All Worth It?

Yes, this may seem like an unusual heading, but I’m sure you have asked yourself if this is worth it.

I have been in this business for a number of years and i have had fails and wins.

When i started the Cake Business Owners Club, i was going in very unknown territory. Teaching bakers online about making their cake businesses better. There were a lot of things i had to learn and I’m still learning.

Sometimes the fear of the unknown stops us from taking the next step. I never really saw myself as a teacher. I just wanted to bake and that was it, but nowadays it is like if God is gravitating me to teach.

As you know teaching is not a relaxing job, you are constantly learning, thinking of new content, writing, researching, using media to get the word out, preparing new courses, buying books, spending money on training to improve one self, that baking has taken a back seat.

I ask myself is it worth it, especially when If you are not earning the money as expected.

When bills come and I’m thinking of how I can pay and i see the successes of other online teachers (not necessary doing what I do), I  can get depressed and almost feel like giving up.

But God always has a way, whenever I start to feel like that, I suddenly get a message from someone i helped thanking me for helping them with their business. that they have been looking for someone like me or maybe i will get a subscriber for one of my courses.

This just lifts my spirits and gives me the motivation to continue.

We all make comparisons, but I know those that are recording successes all started from somewhere. They did not make 6-7 figures in one night. It took a lot of hard work. So when I read about people successes, i don’t get jealous, I study them and find out what strategy they used, so I can learn from it and perhaps use it for my business.

Deep down, I know this is what God wants me to do. I enjoy what i do and i make money from it. I get the chance to work from home and spend time with my children. 

So has it been worth it?

All the money spent on training, all the late nights, not having constant income.Sometimes it may not seem like it, but i can say Yes, it has been worth it.

So my dear baker, even though you are not yet making money in your cake business, please do not give up. Keep at it. And don’t stop learning.

You might say where will i get money to pay for a course in Cake Marketing, or pricing and so on. Or you might say i will go online to learn. yes, you can do that and read about over million articles on a single topic.

But if you find someone who can break it down, give you a step to step guided solution to your problem. My dear, shouldn’t you grab such opportunity with both hands.

I do and look at me now, I am on my way to living my dream.

Opportunity is missed by most people because it is dressed in overalls and looks like work. - Thomas A. Edison

In some days i will be launching my Pricing Course which we include videos on why you are struggling with Pricing, Simple Techniques on how to price your cakes and How to get customers to accept the price you give them for your cakes.

This Course is going to be epic, so be checking your inbox for emails from me. If you have not registered yet, just do so here. Here is the link to register .

Take care and talk to you soon.


me3Rotimicakelady is your personal cake fairy. She is a cake business consultant and Coach.

She runs the Cake Business Owners Club where she helps bakers through Online courses have super profitable and successful cake businesses.

She has a passion for helping women who have a passion for baking, transition from hobby cake makers to successful and profitable cake business owners.

She also help cake business owners who have struggling in their cake business with strategies to enable them get more customers, so you make more money. Rotimicakelady is passionate about Cakes, business and making money.