Discover three more common mistakes and solutions to help you create a thriving baking business, no matter how new or experienced you are. Get the information you need to make significant progress towards your business goals.
Welcome back Retail Bakers! In my previous post, I shared insight into four common business mistakes to avoid in our industry; and in this post, I’m sharing three more. It doesn’t matter whether you're new to business or have been around for a while. No one is immune to making mistakes. However, there are certain issues that can and should be avoided in order to make any significant progress towards creating a thriving business.
Below you will find three common mistakes in business along with solutions to help you avoid them.
(1) Failure to have systems, procedures in place
Despite being in a creative industry, you should definitely have a solid system for running your business. You should have a process for folks to place an order, submit inquiries, sign contracts and submit payments. You should have policies related to cancellations, payment deadlines, and refunds. Create a process for creating social media content and collecting/sharing customer feedback. Even things like ordering supplies, paying staff and filing taxes should have a process.
When you fail to have systems and solid processes, you’re setting yourself up for increased stress and higher costs. It can feel overwhelming to try to tackle overnight. However, evaluate the customer experience, the ordering process, and other areas of your business one piece at a time until you’ve created an organized and efficient work environment for your business to thrive.
(2) Not turning down bad matches
When you’re new to business and really need to “pay the rent”, it can be tempting to take on any project that comes your way. However, the sooner you understand that “not all money is good money” the sooner you’ll improve the quality of your business life. Keep in mind that client consultations are not just for customers to interview you or for you to sell yourself.
Consultations are also a time for you to study the customer and decide whether they are a good fit for you to work with. Listen to your gut. Ask questions that will help you understand the types of personalities you’ll be dealing with if/when you take on that new client. Some customers may work out great, but 9/10 you can tell a bad egg when it comes your way.
(3) Not letting go of the reins and allowing others to operate in their zone of genius
Do you wear one too many hats in your business? Do you feel pulled in every direction as soon as you start working? If you answered yes, then it might be time to accept help. Not having support or waiting too long to bring on more staff can kill a company. The three big issues people like to tackle themselves are typically the ones in which they are the least knowledgeable, such as legal issues, accounting, and daily operations. If you find yourself spending valuable time working in areas that someone else could be doing faster or for an affordable fee, save yourself the stress and hire help. Your talents are better served when you operate within your zone of genius and allow others to do the same.
Conclusion
In conclusion, keep an eye out for these common mistakes in addition to the ones from the previous article. The middle and end of the year are excellent times to evaluate your business. Take time to review how the various areas of your business are running, and make sure that you set yourself up for success by implementing systems, working with the right people and being open to help when it is needed.
Cyd N. Mitchell
Business Blogger, Retail Bakers of America
Cydni N. Mitchell (aka Cyd) is a Bakery Consultant and the Sweet Business Coach behind Sweet Fest®. Based in Atlanta, GA, Sweet Fest® is an online company that supports the business needs of the Sweet Community in the areas of professional development, marketing, branding and web design.
By trade, Cyd is an accountant & financial analyst with a Masters from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. She is the Founder of the Sugar Coin Academy, an online business academy for business owners in the baking and sweets industry, and she is also the organizer of The Ultimate Sugar Show, Georgia’s Largest Annual Baking and Sweets Expo in Atlanta. She is also the Business Blogger for the Retail Bakers of America.
#StartingaBakingBusiness
#GeneralBusiness