When operating a company you have a few financial choices a) loan b) investor c) personal cash
I established Skinny South with my personal cash and when we would get a sale, 60% rolled into the operating expenses the rest into savings.
Starting a business a lot of mistakes can occur. Especially decisions that you really do not have the knowledge to address; thus, it would be wise to delegate to a third party who does.
How do you know if the third party or outsourced specialist is right for you. Get to know the person who will be in charge of your account, what kind of company are they, what are their reviews, ask around on LinkedIn. This is a decision that can change the course of your company negative or positive. So, always tread lightly.
Don't announce changes, or anything public until you have tested it and you know in your group testing that it will work. It is wiser to have people test your product supervised than to find out on social media and then you are doing damage control. Also, make sure your marketing is in alignment with the public. Do not use verbiage that will upset social groups. You are of one demographic, do not pretend you know another. Go to the area, ask people. I am clearly white but I have a lot of close friends who are of other ethnic groups, I call them up and hang out with their families to ask them questions.
I love people, I love cooking for people and teaching others on how to cook smart. So, my marketing tactic to show my expertise was to sign up for cooking demonstrations and to help food banks. It was kinda free but priceless because of my knowledge. People don't know you and they don't understand delicious health cookies. I made the mistake of that at first and before they tasted it, the people sampling would not and say, I don't eat cardboard. Well, at first I was floored but then I calmed quickly and realized it was my approach.
I put on a dress and stand in grocery stores. But, some locations I need to dress down because of that demographics. Some are intimidated by me so I have someone else be my "front person" and I stand in the back to answer any of the tough questions. It works a lot better and the lead person wears an apron that says, "Free of Junk- Full of Flavor". This allows for the person to approach my lead person with what is this... they sample. Love and then allows us to give a short 10 word description allowing them again to want more.
This is something I was not born to know but something I learned by researching and watching others.
I have been blessed with many patrons who love my product that let me know what I am doing right, and also those with corrective criticism. I never look at anything as negative with this but I take it to heart their view.
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Tracy Knight, creator of Skinny South Incredible Treats, Inc holds degrees in business and science. She is a certified nutritionist and personal trainer. She has trained with Olympic athletes. She travels, educates how to create healthy recipes simple & on a budget.
Thank you to my editor and friend, RC Knight for helping me with the show !