Baking For Business Podcast

#Ep 72 :Baking Your Way To Q4 Success: Actions For A Profitable End-of-Year

• Chef Amanda Schonberg • Episode 72

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Who says the final quarter of the year has to be a struggle for your baking business? You guys know I am big on planning and the best way to finish the year strong is with a good plan.
Throughout this enlightening episode, we’ll explore the impactful strategies of setting goals, strategic planning, and effective implementation. We’ll whip up some useful ideas on how to profit from holidays and events like Small Business Saturdays, and I guarantee you, these insights are the missing ingredients you need to finish the year strong.

You’re still in the game, even if there are only a few months left. 

In this episode we will cover;

  • Production strategies that bigger brands use to stay sane
  • What to focus on to finish strong
  • What collaborations you can do for end of the year success and so much more

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1.) Learn to level up your home bakery by clicking here
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Speaker 1:

Hey, sweet friends, my name is Chef Schaumburg. I started my baking business with a bottle of DeCerano and one Bundt Cake Pan. Fast forward to today, from news to magazines, speaking on national stages and more. I can truly say that baking has changed my life. So now, as a bakery business coach, I get to help others have the same success. I've helped hundreds of my students across the world in my global membership program create six-figure businesses, mainly from home.

Speaker 1:

The Baking for Business podcast is an extension of that, from actionable tips to valuable tools and resources that can impact you as a business owner. I truly believe y'all. We would never have been given a gift if we couldn't profit and prosper from it. So come on, darling. What are you waiting for? Hey? What's going on, sweet friends? I hope you guys are having an amazing day, wherever you are listening to this ad or watching.

Speaker 1:

If you're a home baker, then you already know the holidays can be super stressful. However, they can also be really busy and they're actually a wonderful time for us to end the year strong, to generate more sales. But I want to make sure that we're doing all that. However, I also don't want us to get baker burnout to be stressed, to be in the kitchen, focusing so much on the business that we're actually not enjoying the holidays, living life and spending time with our family. And so in today's podcast episode, we're going to go over a couple of tips in order for us to plan for a successful quarter four and finish the year strong. So even in my baking business, I always like to make sure that I'm on top of my ish. I like to break things down quarter by quarter, because when you sit out at the year, everybody's always pumped. They're like oh, it's January, new year, new me, new year, new me. And we always have all these goals and dreams. But if you didn't put dates behind those goals and dreams and if you didn't schedule to do activities behind those goals and dreams, then you might find that now that we've come to this point, some of the things you want to accomplish maybe they're not there yet. But the great thing about it is is that we still have time y'all. There is still time for you to get in the game. There's still time for you to finish strong. And what I don't want for you guys to do, what a lot of people do is that they wait. They say, oh well, you know I have this idea, but I'll go at it in January or I'll wait for January to make all these changes. One of my favorite parables is his mercies are new every day. So if you're breathing right now, if there's breath in your body, you still have an opportunity to make any changes that you need to and do what you have to do so that you can have success in your home baking business.

Speaker 1:

All right, so my first tip, tip number one let's start off with reviewing our revenue goals. So, like I stated in January, we're all amped and pumped. What I want you to do is I want you to look at where are you right now as far as your sales are concerned, what is the revenue number that you are at and where do you want to be and do you feel these last three months that you can actually get there? There's so much time left towards the end of the year, and so what I want you to do is sit down and say, okay, where am I now? Am I on track to meet my goals and what am I going to do in between to make sure that I get there? So that means you want to be making sure that you're planning your sales for October, november, december, that you're working on your promotions, that you're taking advantage of some of those holidays that are going to come up and I'm not just talking about the generic ones or the common ones, like Halloween, thanksgiving, christmas. I'm talking about the ones in between. Like November is small business Saturday. So, because you're a small business owner, how can you capitalize on that?

Speaker 1:

You know, one of the things about running a business is that we wear many hats and too often we always like to be in the kitchen. We want to do the bacon, the decorate and the glazing, all the fun stuff. So we don't put on that CEO hat and start thinking like a creator or not necessarily a creator, but thinking like a CEO. And so what I want you to do is think of ways that you can create additional revenue in those last months. Think of ways that you can get more brand visibility for your business and think of ways that you can actually show up and promote your products so that you can finish quarter four strong. And that always starts with reviewing your goals. I like to tell my students data is everything and numbers do not lie. So before you start working on a new product or this or that. Make sure you go and you actually review last year's numbers. This is what we refer to in marketing as sales forecasting. You can't know where you're going if you don't know where you come from. So review last year's numbers, see where you were at on track for last year, look at everything that worked and then bring that back this year. Ok, because one of the biggest problems is that we're always trying to do something new, create something new, but, honey, if it's not broke, don't fix it. So review your revenue goals and map out a plan so that you can be on path in order to generating the revenue that you want for your business.

Speaker 1:

The second tip whoop dropped my pen is to actually combat burnout. So, now that we know our goals, we know, ok, we're trying to get to where the money resides. We know how we want to finish the year strong. Now the next thing I want you to do is work on a plan to combat burnout, but to also increase your processes, and here's what I mean.

Speaker 1:

I know that a lot of things come during the holidays. Most of the time, they're last minute customers. We're trying to say yes to everybody. Sometimes we get so into ourselves that we take all these orders because we don't want to hurt people's feelings. We're not really putting our foot down as business owners and establishing boundaries and all of those activities and all of those little small habits. They end in burnout. And when you burn out, it's no fun. It's no fun for you because you're not operating at the best that you can be. It's also no fun for your family because they don't get the best version of you that you should be. But then, lastly, it doesn't even serve your business because when you burnt out, most of the time you take a backseat and now you're not making the money that you should.

Speaker 1:

One of the things I said I was going to do this year that I didn't do last year was last year I increased my pound cakes and my bun cakes, which I love Because, unlike layer cakes, it's just way easier to do. All I have to do is bake them, wait for them to cool and glaze them and then. So I only limited my menu to that. If you want to operate off of a limited menu, you do so. You are not the only business to do so, nothing. Bun cakes normally during the holidays they limit their flavors. So sometimes I know what you're thinking. Well, chef, if I take things away, then aren't I taking away the chances of people buying from me? No, ok, don't think from that scarcity mindset. I want you to look at the same things that some bigger brands do and bring those practices and those ideas into your small-based business. Sometimes you have to step back in order to step up, and so, as we avoid burnout, does that mean will you be limiting your menu?

Speaker 1:

As I mentioned earlier, last year I focused on the pound cakes and bun cakes. This year I'm actually focusing on classes. So this way, I won't even really have to be in the kitchen as much as I normally am. I mean, truth be told, honestly, I won't be in the kitchen period y'all, because when I do my classes, I buy my cakes from Sam's Club and I get my buttercream from Sam's Club. Now, for all of those who are on the opposite end listening to this if your team scratch, do you? Ok? I don't care what you do in your business, I'm just all about making money, and so for me, classes are so much easier. I've partnered with a local company to do them. That way, all I have to do is show up, walk. A bunch of newbies, people who are looking to relax, to get away from the holiday stress. Walk them through a successful class.

Speaker 1:

It helps me to raise brand awareness, and then that's that, and so, as you map out how you're going to avoid burnout, think about your processes. What are you going to be doing in the fourth quarter? Do you need to narrow your menu? Do you need to only focus on your money makers? Do you need to maybe start outsourcing some things or start bringing in some things that don't require you to be in the kitchen as much? Or do you want to step away from the kitchen altogether and find other opportunities in order to make money in your home baking business? And when I say step away from the kitchen altogether, there are so many things, such as chocolates, bark, other things that we can make in our business Tea mixes. There are so many other opportunities for us to sell things as cottage business owners that we don't always have to bake every single time, and so think about that. When it comes to avoiding burnout and finding processes and tips to help you make more money in quarter for for the holidays, the next thing that actually goes with that also is think about having extra things on hand, so that you're already prepared for those last minute people.

Speaker 1:

You know, sometimes we're so quick to judge. We don't want to give people grace. Someone calls and we're like I can't believe they called, I can't believe they want to cake it last minute, do they think I know magic? But most of the time they don't know, on the other end, that you are a small business owner. So, yeah, it doesn't hurt to keep a couple things in the freezer. Sometimes let's give a person grace.

Speaker 1:

During the holidays A lot of people go through different things. They're away from their family, they're alone. You have some college students who were new. This is like their first time being away from home. I bake a lot for our local college here in Louisiana, lsu, and I always get students who are like this is my first time away from mom, or you know they're going through something and so they're just kind of not used to planning and they don't think about things like a person who plans all the time does. So put something in your freezer, quit bitching and going off at people. Have a little grace and in the process you might actually find out that you'll actually make some more money. So just look at it from that particular aspect.

Speaker 1:

Also, think about your pre-sales. You know what pre-sales will you have for certain products, so that you can actually kind of validate and know the amount of volume that you're going to do ahead of time. That way it doesn't hurt you before the holidays get too hectic. So, freezing items, hosting pre-sales Again, just processes what processes are you going to show up and start implementing so that we can finish this quarter strong? And then the next thing Look at what's working for you and maximize on that.

Speaker 1:

So before we get into all these holiday trends I know like right around this time you know people are doing the bento cakes and the vintage cakes and this and that if that has already brought you money, cool, then that means it's validated, people have purchased it from you, it's already working. But, like I said earlier, if it ain't broke, don't fix it. So look at what's making you money right now and see how can you add a spin to this. I actually just did this entire like two hour planning process with my students, who I work with one-on-one in my group coaching, and we sat down and we mapped out all of our sales, all of our promotions, every single thing, for October to November, december, when we're gonna open a sale, when we're gonna close a sale, all the things in between, so that they can show up with success and make more money for the holidays. And so, sharing these tips with you, I want you to think about what's working right now for you.

Speaker 1:

One of the companies that does this so well for me is Whole Foods. If you pay attention to Whole Foods, you'll notice that they sell berry chantilly cake, but they don't take it away for the holidays. All they do is they tint the icing. If it's October, they'll tint the icing orange so that it has a little color, and then, when fall, thanksgiving come around, they may tint it green. That's all. And why do they do that? Because it makes them money. So what is making you money right now, honey? Don't change that. Before you try to compare yourself or look at what someone else is doing, which we tend to do a lot in this industry Well, this is working for her, so I'm gonna do this. What another woman eats won't fill your stomach. Look at what's working for you now and find ways to capitalize on that. And then, lastly, one of my next tips is to refresh your website.

Speaker 1:

As small business owners, especially home bakers, your website is like your digital storefront. That's the first thing that people see, and when we look in terms of the holidays ending with success, making sure we make more money, making sure that we're actually marketing our home baking business one of the biggest things is to tend to your website, because when people wanna know something, what do they do? They search, be it if they search Bing, or if they search Yelp, or if they're looking for reviews. Somehow, some way, they are going to turn to the internet, and so if you're trying to increase your marketing for your home baking business, cookie business, cake business, chocolate business, whatever it is that you have then you're definitely gonna wanna make sure that you increase your likelihood of getting found through SEO what we know as search engine optimization and that all starts with your website.

Speaker 1:

If you're a person that already has a website, I want you to check your bounce rate. Your bounce rate is the percentage that's calculated when people come on your site and leave. If your bounce rate is over 60%, I want you to work on that, because, generally, what that means is that there's something going on with your homepage maybe the fonts, or throw it off. Maybe you made your site. It wasn't professionally done. Maybe the pictures don't reflect what the post or what it was that you posted actually does, and so there's some disconnect there.

Speaker 1:

So use opportunities such as your images. You can actually refresh your images and you can actually title your images to help you rank more online. Also, look at your fonts, but more than anything, look at your pictures. You guys know I am big on visual imagery. Two of my favorite people in the game I share them all the time is Monique with I Am Gotta have Cake, and Chef Irene with Florida Bakers Club. So be sure you check them out. If you need an image class, a photography class or something, because y'all people eat with their eyes.

Speaker 1:

But if you're taking crappy photos, and then you're taking them same crappy ass photos and you're putting them on your website, and then you're wondering how come people never order from my site. Well, baby, that's why. So we wanna make sure that this site is working for us. Think about your order forms. Have you updated your forms? Do they have your holiday time? Would you operate longer during the holidays? Are you actually gonna be extending your hours or will you operate less? Does your website reflect that? Do you have automations set up in the back end. So when people sign up for your email list, are you sending them some form of coupon or something that can help them to actually want to purchase from your business, or something that works for you while you're sleeping? All of those, along with tons of other things, y'all but all of those are items that we need to adjust on our website, because it's something that's not only going to bring us customers and attract people to us, but it's also gonna help us to operate our business more effectively. And lastly, I know it's quarter four, so I thought I'd do four tips, but I'm gonna go ahead and give a bonus and do five.

Speaker 1:

But I also want you to think about working on your collaborations. You know I talk about building a business a lot if you listen to the Bacon for Business podcast, but one of the things I always want people to know is that you do not have to build a business alone. And so, in terms of collaboration, there's strength in numbers, but there's also power and proximity. So look at other business owners that are around you. If you're a home-based owner and you feel that you need more brand visibility, what storefront owners can you pop up with? Who can you reach out? Who do you do a collaboration with?

Speaker 1:

Think about companies, places, businesses that already have traffic. How can you partner with them and work with them so that you can pull from their traffic and bring it into your business? Somebody already is succeeding at what it is that you want to do. Somebody already has those clients, those ideal clients. Not the cheap ones, not the looking lucies, not the penny pinches, but the top quality, the bougie beckies that's what I like to call my ideal client, bougie beckies. So who can you partner with? I'm going to give you an example, one that's overlooked all the time. I have done more partnerships out of all the partnerships and collaborations I've done with yoga studios and workout places than any other place.

Speaker 1:

And I know you're thinking well, people are working out. Why would they want cake? Or why would they want cupcake? Think of the person as a whole. My ideal client loves to work out. So if my ideal client likes to work out, they also like to party and they like to treat themselves. It doesn't mean that every single person goes to the gym. Doesn't eat cake because I've been working out lately. Your girl goes to the gym four, five days a week, but I also still like cake.

Speaker 1:

So you will find a different caliber of a person, and not at any gym. I'm not talking about Planet Fitness or somewhere where it's 10 bucks or something like that no shade but I'm talking about specialty places. They will show you a lot about the caliber of the clientele. But also you're going to get to meet people who you'll find will actually value your products and services, and when it's their time to cut looms, have a cheat day, they would love to have it with your products. They just got to know who you are. So that's actually one of my favorite collaborations. Another collaboration in the past I've done pop-ups with Williams and Sonoma in my home baking business. One of the charities that I love is no Kid Hungry, and so it's a double deal. I get to support an organization that gives back to other people, not just in our community but all over the world, but then I also get brand awareness because our Williams and Sonoma is located in our mall. So that's given me in the past the opportunity to show up and display my business at no additional cost.

Speaker 1:

Collaborations are key, all right, so always make sure that you're making collaborations. And so, lastly, the last collaboration idea I have for you is a giveaway. Now, I know what you're thinking, chef. It's quarter four. Girl, I'm looking to make money. I don't want to give anything away, but think about it like this Usually, when people have a sales problem, it's because they have a traffic problem because of more people knew about you.

Speaker 1:

If more people were coming to your website, if more people were coming to your social media page, more people would then be able to purchase from you. So it's not just sales, it's visibility, and what happens when you do a giveaway is that you can either partner with another business, you can do one yourself. Y'all have done a giveaway before. If not, you know how it goes, but you're going to get an increase of people. Now, sometimes you may get people who were there just for the fun thing, but once all those people filter out, you're going to leave with some really quality people, and then it's up to you to put good quality content in front of them so that they can connect. All right, y'all. So I hope all those tips helped you guys.

Speaker 1:

It is quarter four, it's game time, it is the busiest time of the year, and so I want you to show up until you blow up. I want you to make sure that you put your gifts out there, because if God gave you a gift, he wouldn't give you vision without giving you pro-vision. And I also want you to make sure, more than anything, though, that you take care of yourself as a business owner. No burnout, no stress, and none of that. I want you to show up and operate at your best capacity. I want you to be happy with the things that you put out there and finish this year strong, so that way, next year, when we start off at the beginning of the year it doesn't have to be a new year, new me. You can be new right now, and you can meet your goals, and then you'll sit back, relax, and you'll feel so much better when you do so. I hope this helps you guys. Take care, and bye for now.