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When did you know it was going to work? - Page 2

post #16 of 22
you know, I was chewing on this some more today and had a few more lessons learned.
It took me a few years (because I'm VERY type A) to not get so stressed about each cake.
I used to have to start everything on Monday and the process would go on all week. Mainly, my goal was to have the wedding done by Thurs or Friday so that if anything happened I still had time to rip the whole thing apart and re-do.
There has been a transition time where while I waited to work on the cakes until later in the week, I still stressed about them all week until i could get them going. I would think about everything I had to do, and the thinking was WAY harder than the doing!
Now this summer busy season, I am teaching myself that things WILL get done, that I DO know how to fix issues, that I need to enjoy the pre-planning and anticipation as well as the down time. I used to feel guilty when I didn't work on a bride's cake all week, like I was letting her down!
Another thought is to find where your passion actually lays. I am a hardcore wedding cake gal. Nothing thrills me more. I do NOT like putting in as much time if not more time on little Johnny's first bday cake. It's just not my passion. This week I only have 2 weddings and no celebration cakes (although one wedding has 11 cakes in it!), and I couldn't be less stressed. I've gone shopping, out to dinner, taken a nap (gasp!) And that is because I'm calm and inside my passion and confidence.
YOu mentioned another post where the OP was having a hard time with ping-pong emails and the lessons she was learning. She is one of the most amazing decorators I know, and a good business woman too. But she chose to do everything custom and not have standard prices. Because of this, she also chose ping-pong emails. I have learned that if I am simple with my pricing I don't have a lot of ping pongers. icon_smile.gif So you need to decide what works for you in your pricing structure too.
Ok, another novel out to bed icon_smile.gif
life is short, get a cakesafe.
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life is short, get a cakesafe.
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post #17 of 22
Thread Starter 
Thank you LoveMeSomeCake615, Jason_kraft, and jenmat.
post #18 of 22
I made a profit my first year out, but I also knew what my customer base was going to be and how to run a business. if you know that then you pretty much know that it's going to work from the beginning, because SCP is right about taking the emotion out of it and keeping it a business.
post #19 of 22
I'm in the unique position that it doesn't even matter if I make it or not, but I think I will anyway. We converted our garage, and paid for everything with cash. It took us about 5 years, because we are low income, but my husband makes enough to pay the bills, and make any extras. I actually didn't have a single cake to do last week, and I just enjoyed the time off without having to stress out about creditors or bills or loan payments. I recommend that anyone who is serious about starting any business do so without debt.
Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
Reply
post #20 of 22
Quote:
Originally Posted by Annabakescakes

I recommend that anyone who is serious about starting any business do so without debt.


I absolutely agree. I started my business with my savings and redundancy pay out. I have been in business for 20 months and I'm now starting to make ends meet at the bakery and at home (my DH is out of work, he actually just started helping me out at the bakery icon_biggrin.gif) . I made the mistake of advertising on a wedding website that was uber expensive, and I booked just one wedding from it. I now don't advertise at all, people hear of me through word of mouth (and Facebook), and I turn away orders every week. I can't take all the orders people want since there are not so many that I could warrant taking on another third person at the moment.
post #21 of 22
There's nothing inherently wrong with debt as long as it is taken on responsibly, for an investment with a reasonable risk profile corresponding to what you are borrowing against. Remember that using your own savings incurs an opportunity cost as well (not to mention the risk to your personal financial assets), depending on your situation this opportunity cost may or may not be greater than the cost of carrying debt.
post #22 of 22
Quote:
Originally Posted by Annabakescakes

I'm in the unique position that it doesn't even matter if I make it or not, but I think I will anyway. We converted our garage, and paid for everything with cash. It took us about 5 years, because we are low income, but my husband makes enough to pay the bills, and make any extras. I actually didn't have a single cake to do last week, and I just enjoyed the time off without having to stress out about creditors or bills or loan payments. I recommend that anyone who is serious about starting any business do so without debt.



Awesome! Someday, maybe, I will be good enough to do something like you are doing. If I do, I imagine that we will convert the garage or part of it, and pay for it with what I have saved. We are not exactly low income, but having 4 kids is expensive. I clip my coupons every Sunday! When the time comes and I have enough experience under my belt and business knowledge, if I were to have to take out a loan to start up it would have to be a small one (hubby already has a bazillion dollars in student loans icon_cry.gif ) I would really like to slowly build and stay as debt free as possible. I have sooo much to learn before I get to that point though. I've been a hobby baker for years but scratch cakes are a breed of their own, and my decorating skills have a ways to go icon_smile.gif
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