rachel young, · 2019. 6. 28. · powerpoint presentation author: rachel is awesome created date:...
TRANSCRIPT
Rachel Young,Owner and Cupcake Magician
http://www.mysticalcupcakes.com/
Finding My Passion
The Real Miss Moffett
Rachel Ann Moffett1908 - 2000
Finding My Inspiration
Cupcake Wars
L.A. Bridal BashAir Date:
October 12, 2013
Finding My Grit
Challenges in Year One
• Zero working capital
• Nobody would loan or invest
• Too much existing competition
• How to hire & train staff or expand operations with no money or guarantee of sales?
• Didn’t know how to anyway!
Huge learning curve!
• Working tirelessly with no income
My Very Own Cupcake ShopOpen Date: January 2, 2014
Challenges in Year Two
• Customers came but we were inept
• No systems
• Lack of training
• Cupcakes were overly complicated
• Too many options
• Still --- NO WORKING CAPITAL!
• Stress, stress, stress
• 12-16 hour days
Capital Mall Location
Challenges in Year Three
• The B.S. had been duplicated!
• No plan
• More confused staff to answer to
• Constant, I mean CONSTANT text messages
• Employee drama
• Customer complaints
• Orders messed up
• Cashflow issues
Challenges in Year Three
• Attempted to expand to JBLM
– Little planning / research
• Invested money that was needed for other things
– Challenges
• Staffing
• Costs
• Lack of stability
– Bleeding money (had to pull out)
Strategic Partnership with Elle
Challenges in Year Four
• Managers power hungry
– Bullying staff
• Employee THEFT?!
• Super high turnover
• Lost entire kitchen staff in one summer
– Talk about EXPENSIVE!
Challenges in Year Four
• Systems not transferable
• Orders getting lost
• Equipment repairs
(or lack thereof)
• Financial stress
• I wanted to run and hide
• Didn’t read contracts
– Got stuck in contracts
– Cancellation fees (point of sale, CC processing, equipment leases, advertising)
• Energy vampires & “coat tailers”
• Be careful who you trust &
FOLLOW YOUR INTUITION!
Learning the Hard Way
Company CPR
• Found help at the EDC
• New managers
• Mentoring staff
• Set up manuals / training
• Found creative ways to reduce costs
• Raised prices
• Out-of-the box marketing ideas increased sales
Company CPR
• Learned that blaming others solves NOTHING… it all comes back to ME
• Accepted that things will always be changingand THAT’S OKAY
• Committed to seeing
challenges not as problems,
but as OPPORTUNITIES
What I Did Right
• Concept
• Passion
• Market research
– Know your competition
– What makes you different
– Will people care?
• Branding
• National & regional exposure
What I Did Right
• EDC / SBDC / Scale Up / Tune Up
• Community involvement
• Giving back
• Networking & chambers
• “Marketing Wednesdays”
What I Did Right
• Seized opportunities w/ little investment risk
• Didn’t take on too much debt
• Didn’t give up any ownership to expand
• Learned to embrace changes
What I Did Right
• Found strategic partners to aid in expansion
– Flower shop
– Wholesale locations
– Delivery service
• Found employees who:
– Believe in the vision
– Share the passion
– Have integrity
– Can help build the foundation
What I Did Right
Implemented systems that engage employees and their creativity
• To solve problems
• To grow the business•To utilize strengths•To grow future leaders
What I Did Right
• Strong vision & big-picture thinking
• Gratitude & reflection of progress made
• Sense of purpose
• Reminding myself, “I am only in competition with myself”
“I've learned that people will forget what you said, people will forget what you did, but people will
never forget how you made them feel.”
~Maya Angelou
It’s really all about serving people and making
their lives better!
– Customers
– Employees
– Community
Finding My Way
Enriching Customers’ Lives
Enriching Employees’ Lives
Enriching the Community
We became a…
100% Gluten-Free
Bakery
100% Peanut-Free
Facility
A Lot Happened in 2017…
A Lot Happened in 2017…
• Elle’s Floral Designs moved into Floral Ingenuity
• Jeff Gibson took over that space
• The Sweetest Things was born
A Lot Happened in 2017…
• Macarons by Mel became a product at all of our locations
• Melinda Gagnon, the owner, took over our Downtown location
A Lot MORE is Happening in 2018…
Miss Moffett’s Mystical Cupcakes is moving our headquarters to Forza in Lacey!
My Philosophy
• A business should: enhance the world and enrich lives
• Constantly seeking: the most efficient and effective ways
Success will happen naturally!
Be a Fan!
Sign up for our email newsletter at:
www.mysticalcupcakes.com
Sign up to receive textalerts in our shop by joining
our reward program!
