Do you have what it takes to start a cupcake business? Many people get into a new business because it is hot and trendy and they like the sound of it.
Selling cupcakes sounds like a fun business, but keep in mind that it is just as competitive as any other kind of venture.
Before you strike out on your own to develop any business, you need to ask yourself if you have the qualities it takes to be a good entrepreneur.
Not everyone has the psychological or emotional capability to be a great self-starter.
First off, an entrepreneur must be a “definitive” individual. This means being able to make decisions, stand by them and be accountable for what happens as the result of that decision.
When something goes wrong in this business the “buck” stops at you and there is nobody to blame but you. This can be hard for some people to handle.
An entrepreneur must also be adaptable. Change does not bother a great business person. In fact they crave the kind of instability that allows them to capitalize on chaos.
A great business person does not follow the crowd. For instance there has been a craze for red velvet cupcakes over the past few years.
Of course, sooner or later, this trend is going to change into a fad for another type of cake. The entrepreneur that makes money is not going to be the one that is selling the same red velvet cupcakes that everyone else is.
He or she acknowledges the importance of being flexible and having to change a “recipe for success” at a moment’s notice.
They allow themselves the room to respond to opportunities that might suddenly reveal themselves at the very last minute.
Entrepreneurs also must be passionate about what they do. If you hate baking, don’t like cupcakes and do not have the slightest interest in cupcake molds, cake batter, icing, meeting people, thinking creatively or any of that then this business is probably not for you.
You should also avoid this business if you are “not into” crunching numbers or following a business plan.
Some people think that being your own boss means being lax about the rules, setting casual hours or just “going with the flow.”
The truth of the matter is that the best business people are usually prompt, polite, organized, and efficient and follow a business plan.
They treat themselves as well as they would an employer that is paying them a lot of money. They do not let personal dramas, the need to follow the crowd or other outside influences of any kind to distract them from following their business plan.
Having that business plan in place is part of being a winner in the cupcake business. If you are just “punting” then the gourmet bakery basement is not for you.
Usually the best entrepreneurs are driven by ambition and enthusiasm for their career. The business plan where the imagination and inspiration to be truly successful can be married to the practical need to make your business dream come true.