TCMBA #16 - 5 Tools for a Better Coffee Business
Your Business Multi-tools
Do you own a Leatherman or a Swiss Army Knife?
Is there a tool you return to again and again because it’s so useful?
Maybe you’re like me and have a couple of go-to recipes from your favorite chefs. The kind that you memorize and add to and adapt based on your mood.
Recipes are a type of tool, right?
I think so.
You know these tools inside and out.
You know how to use them, how to apply them, and you lean on them whenever something pops up.
Potluck? Make the cashew cheese from Amy Chaplin.
Broken shoe? Another job for the glue gun!
Businesses can have those too.
They can have multi-tools and recipes to help them get through tough times and fun times.
Today, I’m sharing my favorites!
These tools can keep you on track or get you back on track.
And the more you use them, the better they work!
#1
Tool: Profit and Loss Statement
How I use it: As a living document. It helps me plan for the top line and the bottom line of a project, team, department, or business.
What it does for me: When shared widely, it reveals the opportunity each seat has to impact the finances of the business. It also supports what I call “a culture of numbers” (something I love and can talk more about if you’re interested– just reply to this and let me know). Actively engaging with a P&L literally saves you money.
#2
Tool: SWOT Analysis
How I use it: As an early step when embarking on a new product, project, business unit. Or I use it when I’m feeling a little lost in the sea of competition.
What it does for me: It’s kind of like looking at my budget before making a big purchase. It helps me see where I’m going and what I need to overcome to get there. Because the tool looks both internally and externally, it validates or disproves my thinking in black and white and can revel any necessary pivots.
#3
Tool: Strategic Planning
How I use it: As a way of communicating mission, vision, values, and goals with the team. It gets us rowing in the same direction.
What it does for me: It gets my creative juices flowing for building the business’s future. Planning also provides an anchor point for team communication. I can look someone in the eyes and say, remember, our goal is X. We committed to doing Y to get there. How can I support you on that path?
#4
Tool: Workback Plan
How I use it: As a roadmap for reaching a goal or deadline on-time and a flagging system for resource allocation.
What it does for me: Gives me confidence that I have everything I need to fully execute on time. The process of creating the plan uncovers the project needs. Stakeholders to involve, money to budget, and the reality of your timeline all become crystal clear. Having all of this documented makes communicating cross-departmentally so much easier.
#5
Tool: Org Chart
How I use it: As a way to ensure all business responsibilities have a home and that these homes don’t get too crowded.
What it does for me: It’s not about hierarchy and job titles. It’s about making sure that all business functions, tasks, and responsibilities have an assigned seat. This can be done without an org chart, but the chart aids internal communication about these responsibilities. Plus, because it’s visual, it helps me see when certain seats are overloaded or when people sit in too many seats. If it’s kept up to date, org charts can show when it’s time to hire, split roles, or even outsource for support.
Do you use any of these tools?
Did you have a favorite that I missed?
If so, reply to this and share it with me and I’ll feature it in the next newsletter!
Sayonara!
This is my final newsletter issue from the United States!
Next time you get one of these guides, I’ll be living in Berlin and bingeing on Duolingo lessons.
I’m so excited to continue serving the specialty coffee community from a location that has always felt like home.
Once I get settled, I’m going to do more coffee chats with newsletter subscribers. Keep your eyes peeled!
See you on the other side,
Miranda
When you’re ready for help, here’s how we can work together:
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