Re-energising the business
I started to write this blog about a recent, successful event I'd recently spent the weekend trading at but it quickly turned into a brain dump from the last month or so. So here it is, my musings, thoughts and actions that have gone into re-energising the business at BNC Ltd HQ.
Owning, running, working in and crucially, working on a business are all very different things. Having always had a significant part of my income come from being self-employed, up until now, I have always run Bass Notes Coffee with a sole trader mentality rather than with a Limited Company mentality, which of course, it is.
I've recently read two business books, having overlooked such things over the last couple of years. The first was Profit First by Mike Michalowicz and it's a game changer. Now there's no smoke and mirrors here just some cold hard truths and some very simple steps to change the financial structure of the business from that of sole trader to, in my case, Limited Company,
Mike's golden rule or equation is as follows: Sales - Profit = Expenses. I've always approached it the way I imagine a lot of business owners do: Sales - Expenses = Profit.
I've found this seemingly simple reorganising of three words revolutionary. There's obviously more to it otherwise there would be no need for a book but if you can get past the very American style of writing it's an excellent read and In my opinion a must for any business owner seeking greater rewards from working in and on their business.
If you're intrigued and want to find out more then click here and have a look https://mikemichalowicz.com/profit-first/
The second book, The Floundering Founder by Raman Sehgal was recommended to me by fellow trader, Andy who runs an amazing Mexican street food business, Truly Torta. Raman used to be one of Andy's regulars when he ran a sandwich shop in the centre of Newcastle pre-Covid. This is more to do with leading a business and where your time and effort as owner and founder should be spent. His background is in international marketing within the life sciences sector so not directly relatable to a mobile coffee business but there are some excellent lessons here nonetheless.
Again, if you're intrigued by Raman's journey and success you can find out more here https://www.ramansehgal.com/
May '26 has been one of the busiest and most profitable months in the business' short history so far. But as anyone in hospitality will tell you, busy doesn't always equal being profitable especially in the current climate. Nearly every day I hear of another business that is forced to close its doors or shutters. It is now more important than ever to be as financially lean and administratively and creatively organised in business but particularly in hospitality where it seems we are presented with new challenges every day.
