We had a “happy” show with Sara Bencomo, co-owner of Happy Cakes Bakeshop in Denver. Sara and some friends started making cupcakes seven years ago and now are being recognized by places such as 5280 and Martha Stewart. So how do you take a cupcake and make it a profitable business? Sara shared some tips.
It starts with a good product. It’s important to understand if you have a good product before you do any heavy investing. The thing I loved about Sara and her team was that none of them were in the culinary arts. They weren’t bakers. They just came up with a great idea and made it work. Once you have that great idea, think of ways to test your product on your market.
Next, add a lot of work. We hear this time and again, but it’s true: entrepreneurs work a lot. Starting a business is like tending a newborn. It needs a lot of attention and sometimes at inconvenient times. If you aren’t prepared for this, don’t go down the small business path.
With a dash of marketing. Getting your name out there has never been easier, but it has never been more important either. Companies who are online are deemed as more credible in the eyes of consumers. Make sure you have an online presence. I’m not saying go and spend $10,000 on a new website, but make sure people can find you online.
Sprinkled with a great partnership. Having partners can be a great idea. If you share a common vision, your partner can complement your skill set. Finding people with strengths where you don’t have strengths is a good business strategy.
Hear the rest of the recipe for creating a successful small business here.
Jana Axline is president and leadership coach at Axline Solutions and author of Becoming You. Through her leadership musings she inspires audiences to grow as leaders and ultimately achieve who they were created to be. For more information visit Axline Solutions.