Derek Ellington’s Response:
It looks like you’ve already done a lot of work getting Blair Shakes off the ground. It’s terrific that you love making delicious shakes, because having that passion is a crucial part of running a successful business. So kudos to you, Joah.
One step you can take now to help get funds to further your business—and one that doesn’t require a job—is to create a business plan. A business plan tells the story of your business. It’s a way to let your community know about Blair Shakes and explain what makes it special. In fact, you already have the bones of a great business plan with your website. A business plan would take it one step further.
Your business plan for Blair Shakes should include details about the business and its advantages over the competition; a marketing plan to explain how you plan to advertise and promote Blair Shakes; and a “who’s who” of the people on your team.
Your business plan can also include a strategy for promoting your business that doesn’t require any money—or just a small amount. For example, check your town’s calendar for upcoming events, like a community fair, farmers market, festival, or parade. Create flyers promoting your business and distribute them at the town event. This is also a great way for you, as founder of the company, to meet and greet your neighbors, and that’s good for business!
Now for the money part. One of the most important things your business plan can do is help you pinpoint how much money you need for a steady cash flow and to grow Blair Shakes. To figure out your cash flow, you’ll want to list your expectations for revenues, as well as the cost of expenses, like ingredients for making, packaging, and delivering the shakes. Your plan should set a dollar amount goal for how much you need, in the immediate and longer term. Once your business plan is complete and it’s well organized and easy to follow, you can have a pitch meeting with family members and friends to see if they want to invest.
You can also invest in your own business by contributing money earned from odd jobs like babysitting, dog walking, mowing lawns, or something else. Put out the word that you’re looking for odd jobs to build your business. That has the dual purpose of (1) promoting Blair Shakes and (2) earning money for Blair Shakes.
Now, if only I could order your special Bainbridge Blair chocolate peanut shake and have it delivered to Atlanta!
Wishing you great success, Joah.