Stick to One Thing or Master Several?

Question: 

What level are you at in your business? What’s your goal when it comes to your business? And what’s going to result in the biggest return on your investment as far as time and money? 

These are all questions you should ask yourself BEFORE expanding what you offer in your business! 

If you’re working from home? 

Then you might want to limit your assortment. Why? For most home-bakers you’re likely still a one man/woman show, may be limited on space, and may not be fully committed to this new business! 

If you have a brick and mortar… 

Then you may want to consider having a menu with options to serve the needs of your community. 

Torn on which one suits you? Let’s talk Pro's & Con’s! 

Let me share my story just in case you're new here….

The Cake Mamas started off as a custom cake and cookie bakery. We wanted to focus specifically on the ART of decorating. We were inspired by The Cake Boss so no surprise there! 

When we outgrew our home and moved into a brick and mortar everything changed. Now you not only have to pay bills, but you have to find wholesalers, you have to pay employees, you have to find ways to outsource; and all of those things equal needing MONEY! 

We started noticing a regular stream of customers coming in asking for small treats, although we branded ourselves as a custom cake, over the top,  type of the boutique cake shop. 

As this influx of customers began to grow, what we failed to realize earlier was our community was full of kids, parents, schools, and teachers. They wanted to celebrate all of the little things in life in between the big milestones. So we listened to our community, and began to shift our focus to cupcakes and smaller treats. 

Fast Forward 3-4 years later, we were offering cake pops, cookies, jumbo cupcakes, mini cupcakes, cakes, caramel apples, Rice Krispie treats, cake in a jar, and other treats. Although we abandoned that original vision of the business, we were able to PIVOT, fit the needs of our customers, and we had to do what we had to in order to pay the bills. Don’t be fooled friend, we didn’t “master” all of these treats overnight. It took years of adding, subtracting, and listening to our customers to offer them a solution they would continue to come back time and time again for.

So let's see where your business fits. 

The PROS of mastering ONE THING can…

Create a reputation

Reduce your workload

FOCUS your energy on one thing

Work on efficiency

Cost advantages

And be able to find, locate, and market to your IDEAL customer base.

The CONS of mastering ONE THING…

Heavy research & pressure to compete 

The need to make sure your product can stand up to all  new trends

Has to be OVER THE TOP, “MUST-HAVE” - not just “good” so your customers continue to come back to you as the LEADER

Limited customer base

Be willing to play the long game

And the risk of $$ loss during slow seasons

Looking at the PRO’S AND CON’S, I don’t know about you but it sounds like a lot of pressure throwing all your eggs in one basket! However, if you know your market & customer base really well, single product businesses have the potential to perform extremely well! 

THINK: Cinnabon, Mrs. Field Cookies, Krispy Kreme…

If you have a straightforward product/concept/service and are lucky enough to grab attention, it can be beneficial for your business to have a successful/well-known product and service.

Another option would be to get out in your community and collaborate with other businesses that offer a complimentary product to yours, so you can grow together. Example: If you’re the master of CAKES, then find a business who focuses on MACARONS. Same with sugar cookies, or cake pops. This would work best with other businesses that are Mastering ONE Thing as well. Collaboration is ALWAYS greater than competition. 

If you’re thinking I WANNA SELL DIFFERENT THINGS! Because HEY I can do it all, before you decide to go all in let's see if this model might work for you!

The PRO’s of the “Jack of all trades!” ….a little something for everyone!? Means higher sales volume, untapped customers in your area, (beneficial during slow seasons), easier to compete, being able to highlight new products, and the opportunity to showcase your creativity. 

The Cons: Gurlllll, be ready for the work that will come with MORE!?!  This can become time consuming, the need to constantly innovate, the cost increase, labor costs, brand confusion, product waste, and struggle to manage it all which can lead to feeling OVERWORKED & OVERWHELMED. 

There are a lot of benefits to having a diverse product line. If you’re genuinely ready to step up to the challenge for what it takes to make your business successful, then GO FOR IT! But ask yourself; are you prepared to take on the heavy workload? 

Friends, I think the key lesson here is that everybody is at different levels in their business, AND just because you’re good at a lot of different things doesn’t always mean you should offer it. It really comes down to what’s best for your business and what your customers are asking for. From a profitability standpoint the margins are important. From a happiness standpoint, YOU are important. So don’t fall into comparison and find yourself obsessively trying to compete, just STAY IN YOUR LANE and the success will follow. 

The fact is, there is NO absolute, right or wrong answer to which model will work best for you…..WHY?! Well, because there are many factors to consider:

• Your Current situation (financially, geographically)
• Your skills
• Your goals
• Your location
• Your confidence in your product/service
• Your market research
• Your experience & expertise, not only in business, but creatively  
• Your customer access

AND MOST IMPORTANTLY YOU!!!  It will always come down to you! Just because you can do it all, doesn’t mean you should! Remember to stay in your lane! Look at your competition for inspiration, collaboration, and to level up your business; not to compare! Take a deep look into your business and yourself and be honest! So friend I’ll leave you with this idea...  Start with ONE, gain the knowledge, gain expertise, and gain experience so you can go be successful! Then GROW from there!

If this was helpful for you, comment below and let us know your thoughts, or what you have experienced when it comes to having a limited or extensive menu. 

As always, we’re rooting for you! 

Xoxo, 

Janelle 

P.S. I have a freebie for you! Check this out! 

Free Download: A complete list of Pro’s & Con’s of “Mastering ONE!” Or “Mastering Several!”  Click HERE to learn more: