It feels like a really silly thing to ask, but I’ll ask anyway. Did you start your cake business to make money? I’m asking because not everyone really cares that much about making a profit from their business and it’s more just a form of relaxation maybe or just a family tradition. But I have to admit, I started a cake business so I could earn money!
Whilst I do love baking, I love the looks on my clients’ faces when we deliver their end product and that warm fuzzy feeling is indescribable, 100%, BUT I do not like the notion of working for free!! It has been a long journey but I can finally say, after making some discoveries in 2019, that 2020 is going to be a year of profit! In fact, I am confident that my sales this year will at least match the income of my 9-5 and if not exceed it! Do you know why? I have implemented these 5 things that have made ALL the difference!
1) Find your niche – I am no longer trying to reach EVERYONE. This is not possible. It watered down my message, my value and in turn my profit! If you want to see a profit in your cake business you MUST find a niche! If you need help with knowing what that is, or how to do it, then check out this masterclass and workbook.
2) Identify and meet the needs of your ideal client – When you know who you’re trying to reach it gives you a different focus. You are more clear in your market message and so the people who are specifically looking for what you’re offering are attracted to you! More customers = more sales = more profit! We also have a master class and workbook on this that will help you out!
3) Know your costs and charge your worth – It is highly unlikely you will ever make a profit if you are charging less than what you are spending! So it is vital to break down what you’re spending and what you’re bringing in so you can charge enough to cover your expenses! We cover this topic in great depth in our new eBook, You CAN have your cake and sell it too! Check it out for step by step strategies on how to calculate your profits.
4) Connect with your clients! Don’t just sell, provide value, meet needs. The best way to make profit is to provide needs and make an emotional connection with your tribe. Ask what they want, how you can help and then make sure you’re doing that. Find a way to routinely connect with them outside of a social media platform so that they can get to know, like and trust you! More on this in our masterclass, ‘Effective Engagement’ another class in our Kick-Start Your Cake Bizseries!
5) Show up daily! Finally, the last step is to be present in your business. You will not make sales consistently and hence profit if you are not present on a consistent and daily basis. There are no short cuts on this, no masterclass, no workbook, just do it! Lol! This one is sheer determination and hard work I’m afraid.
If you enjoyed these tips you will love the Kick-Start Your Cake Biz series which covers most of the topics above and you can save a lot of money by purchasing the bundle of all 8 classes! Click the button and see for yourself!!
Natasha Orumbie isn’t your ordinary baker! Yes she is well known in her industry for creating awesome works of edible art, but she has recently gained notoriety in the online world. She has catapulted her business from near obscurity with an Instagram following of just 400 to over 7000 in just 8 months and growing every day!
Originally a teacher of teenagers by trade, she is naturally able to share knowledge in an engaging and humorous fashion, making her Instagram, blog posts and e-books a pleasure to read! She now takes great pleasure in teaching others how to bake, decorate and sell cakes of their own.