The business had now gone through 2 seasons successfully. We had a little money in the bank and the busy season was ending. In the catering business, you get a little jump during the holidays, but after New Years, it is 4 months of nothing really. Maybe a luncheon or dinner party here and there. It was killing me to have so much time on my hands, only opening the kitchen a few times a week to do smaller parties. Then one day I had a brainstorm.
The building was right in the middle of town and there was a portion in the front of the building that I was using as an office, but did not really need. It was enough space to open a small storefront. THAT would keep me busy through the slow season and during the busy season, we could use it to sell our over production from parties. Plus, it would drive more customers in so the catering would increase and it would be an additional source of revenue. A good number of the New York City caterers had small storefronts and it gave them a bit of a higher credibility. I was really thinking now!! Brilliant I thought. This was going to be a huge expansion.
I began to look around for used display fixtures and showcases. A few girlfriends of mine got involved with decorating to make the storefront more hip and modern. It took about 30 days to get the front ready to open for customers. A little marketing started to bring customers in to the store.
I was very happy to be working 12 hours a day again and I really felt like I had a renewed purpose. I hired a few people to work part time in the store, while I produced the food. One of the biggest categories was specialty cakes, specialty cookies and chocolates. This area was one of my personal favorites to make. I had been classically trained in chocolate and pastry by one of the best in the world, so the product I was making was truly unique and special.
What I Learned: One of the biggest mistakes an entrepreneur can make is to be The Knowledge Base of the company. This leads to a business that is not sustainable and totally dependent on the Entrepreneur. If something happens to the Entrepreneur, then the business dies. The greatest Entrepreneurs develop a replicable model with systems for growth and hires the right people to run it.
The store was doing well and was serving it’s purpose as a showcase for the catering business. As we entered another season, we were really growing. And the parties began to get bigger with more weddings and garden parties. Of course now I would have to run back and work after a party to make sure the store had product so I was working about 16 hours a day. I had people working in the store, but no one had the skill set to produce what I could. I fell into the classic dilemma of being the only expert in the business.
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