How to Pay Yourself in Your Cake Business

"When’s my next paycheck?" I asked myself.

I quit my job working business sales at Apple and decided to study Cake Design at Bonnie Gordon College of Confectionary Arts. After I completed my schooling, I couldn’t count on my standard paycheck anymore. I was officially a full-time entrepreneur.

soo yea, my money situation became very questionable because my consistent income just turned into whenever someone decided to pay me for a cake. 

Now, I’m the type of person who loves consistency and I like knowing when I can count on something to happen. 

Which didn't quite work out when I started my journey of being a full-time entrepreneur. 

One of the greatest things about working a typical 9-5 job is the consistent paycheck you pretty much expect every other week. 

If quitting your job is a goal, check out this article, How to quit your job and become a full-time cake business owner.

You know it’s coming as long as you put in those hours at work.

buuttt…….. when you manage your own business, you have to create the business and income you want instead of relying on someone else to give it to you. 

Turning your cake business from every so often money coming in into a consistent flow of cake orders is something you can 100% do for your business. 

Here are a few strategies that have really helped me.

#1. Consistent Marketing Creates Consistent Income. 

The more consistent you are with your marketing, the more consistent your income will be. Whenever I found myself falling by the wayside with my marketing, my business sales always dropped. 

To turn it around, I had to recommit to my marketing and make it a non-negotiable to consistently "get the word" out on my business to keep my income more consistent. 

I kept investing in my cake business marketing on sites such as The Knot. I kept going to Colorado Networking Events, I met with Wedding Planners and Photographers to develop personal relationships for referrals. I practically did everything free and paid to keep my cake business name out there.

I have a free guide inside of the Cake Business Resource Library that will help you with your marketing strategy to gain more exposure for your cake business. Click here to check it out, plus it’s free!

We see it all the time with the big companies like Walmart, Ford, Coca-Cola, etc. Everyone knows their brands exist however they STILL invest in their marketing on a day-by-day basis. Those companies understand the value of consistently marketing their brands.

Same goes for your cake business.

The more you post your business on social media, the more you promote your business at networking events, the more styled shoots you participate in, the more consistent cake orders will flow into your cake business.

#2. Focus on making more Physical and Mental Space for more Cake Orders.

A lot of times, we can block more orders from coming in simply because we subconsciously block the orders from coming in. Additionally, we physically don’t have the space, not enough support, or can’t fit more cakes into our already jammed packed schedule. If you need a boost in your cake orders, check out the Cake Biz Boost Bundle here. This bundle will provide everything you need to give your cake business the sales boost to fill your cake business with more orders ASAP.

Here’s an example: You want to book more cake orders yet, you physically cannot fit more cakes into your refrigerator. Your Refrigerator can only fit 5 cakes, yet you want to double your cake orders.

Where will the 5 cakes go if there’s no where to fit them?

Solution: Budget buying another refrigerator for your cake business. Investigate growing your work space.

Here’s another example: You want to double your cake orders yet, you stay up until 2am consistently to complete your current cake workload. If you double your cake orders, you start to think, “When will I have the time to complete more cake orders? I barely have the time now!”

Solution: Learn to manage your time more effectively. Implement strategies to work on your orders weeks in advance. Check out this article to learn how to prepare for your cake orders weeks ahead of schedule. Or, you hire a part-time intern to help work on your cake orders.

Take some time to really think about how you are mentally and/or physically blocking orders from coming into your business.

Make the space and God/The Universe will fill that empty space with a bigger workload, more cake orders, which will equal more money!

3. Eliminate what isn’t working. 

Being an entrepreneur can be sooo daunting with soo much on your plate! It feels impossible to get everything done, live a well-balanced life, and enjoy what you love! (which is why you started the business in the first place, right?)

When I wanted to create big changes in my business, I decided to purge my business and take away what 100% has nothing to do with me making money. 

I eliminated, deleted, and let go of tasks that just don’t make me happy AND tasks that don’t make my business money.

For instance, baking items that were extremely time consuming and did not yield much profits (cake pops, mini-cupcakes, dessert bars). Designing cakes I wasn’t that great at making. Taking last minute orders and staying up until 2am to complete. I even started to decline certain cake orders! Check out this article and I share which cake orders to decline ASAP - 4 Cake Orders to Decline in your Cake Business ASAP.

Take inventory of what’s not working in your business and STOP DOING THEM.

You will feel lighter, better about your business and happier about your business because you are focusing on truly growing your business. 

When you eliminate what isn’t working in your cake business, you will begin to make space for more cake orders that you LOVE to make.

After I eliminated what didn’t work in my cake business, I started to only book wedding cake orders, which makes me the happiest!

After honing in on only creating a business I loved and becoming highly skilled designing wedding cakes, I began to charge more for my cakes. It’s a domino effect that build momentum in such a short time-span.

Growing your cake business = Charging more for your cakes + Increasing your cake orders.

Work with that equation and your business will 100% grow where you can financially support yourself and your family with your business and have a booked solid cake calendar! 

This year’s cake Calendars are being filled as we speak.

How’s your calendar filling up for this year?

Are you booking few and far between? Or Are you 100% booked up this year?

Doubling your cake bookings and attracting better paying clients into your cake business isn’t something that happens by luck. 

It takes clear approach for how to attract better paying clients into you cake business using proven strategies that work! 

• Are you struggling to book high-end cake orders in your local area?

• Ready to Double your Cake Orders month after month and have the blueprint to make that happen?

• Do you need the BEST booking strategies that will work for you in your cake business?

I have a free eBook that will help you learn my Top 4 Booking Strategies to Double your Cake Orders in your Cake Business and apply them to your cake business today!

Click the button below to download the Free Guide Now!

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How to find Funds to grow your Cake Business

I think I had maybe $1000 or so in my saving account.

And I decided I was going to quit my working for Apple, move to Toronto to study cake design, come back and start my cake business as a full-time entrepreneur.

Annnnd….I needed about $35,000 to do so.

Welp, it was time to put my thinking cap on and figure out how I was going to fund my dreams because I DID NOT have $35,000 sitting around.

Everyone thinks are kind-of nuts when you are wanting to spend a ton of money to get your business off of the ground, with no proven way you will be a success as an entrepreneur.

And a lot of close people in my life thought I was crazy for going after my dreams.

After investing over $100,000 total in being an entrepreneur over the past 5 years, I do know that it takes money to make money. Additionally, I believe if you MUST need money to make something happen, you will find a way no matter what.

If you are wondering how to take your cake business to the next level and need some serious dough to make it happen, here are a few ideas to consider to fund your business to catapult your success! 

First, be 100% okay with getting outside sources to fund your business.

A lot of people may not have $35,000 - $100,000 laying around to fund a business. But that doesn’t mean you cannot find the money to help fund your cake business and get it off the ground. Borrowing money is 100% normal to get your business off the ground.

Once you wrap your head around knowing that it’s normal and very common, you start to allow different ideas for how you can fund your business. 

Whether, credit cards, business loans, personal bank loans, friend/family loan, crowd funding…..these are ways where you can easily make the money instead of relying on selling your cakes to finally invest in your business.

Borrowing money helps you build your dreams while becoming business owner you need to become who has a successful business you really want. 

Please note, be responsible if you decide to borrow money! This post is not intended to guide you to go into credit card debt and be irresponsible with credit.

Next, How much do you really want the money?

Some designers are interested in building their business while others are 100% committed to growing their business.

There’s a difference.

Earlier this week, I asked in my Facebook Group, join here, if they had $1000 to fund their business, what would you spend it on? And tons of designers wrote their responses. From paying off credit card debt, investing in cake design courses, paying for cake design equipment to improve cake production, the responses were endless.

Truthfully, you can manifest $1000 right away, check out this article about how to manifest money. If you really wanted it badly enough, when you have the right money mindset, and belief in place to allow the money to come to you.

Ever notice how you just NEED to buy something new for your cake business, or NEED a new pair of shoes, or NEED to buy something for your children to help them succeed?

Regardless of what it is, when you have a burning desire to pay for anything in your cake business, the money will show up. 

If not, the excuses that come up are blocking the money from coming in. 

Lastly, Have a plan for the money you want.

One of the biggest mistakes I’ve made was foolishly spending my money on unnecessary cake crap that is collecting dust in an old Trader Joes bag sitting in my garage.

When growing your business, wisely choose how you will spend your money and how the specific tools and equipment you are buying will increase productivity, help you manage your business better, make more money, take your cake business to the next level.

Cute cupcake liners, 200+ sugar cookie cutters, random character cake pans, 101 super cute sprinkles will not help make you more money. 

They just take up more space in your already too tight cake storage situation.

Be extremely clear on your purchases and your money will go further.

When I made up my mind I was going to make my dreams my reality, the money pretty much flowed into my life because I was determined to make my business work.

Put your dreams FIRST, be 100% committed, and the money will show up.

Trust me, it works every single time.

Lastly, as you decide to grow your cake business and explore how to financially make it happen, be open to the many ways you can receive the money and have a plan for how you will use the money.

I’d love to hear from you!

How did you fund getting your cake business off the ground? Did you already have the money saved?

Did you pay for things as you booked more cake orders?

Comment below and share with everyone how you funded your cake business.

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