How one muffin company started with $1800 and become a $10 million company
Most buddying entrepreneurs have a good story to tell, and many like me love reading about it.
Today, I started my day by re-reading the case studies out of Mastering The Rockfeller Habits. With the work we are doing in Charters Towers, I thought it was good to refresh my memory on why this book was so pivotal in growing Marketing Eye and what relevance some of the case studies have to potential businesses in rural communities.
So, the Mostly Muffins company was my first port of call.
A young Molly Bolanos in 1987 built a baked goods company from an initial investment of $1,800, to grow into a company that employed 100 people with $10 million in revenue selling into coffee houses, airports, ferry terminals, and grocery stores.
Some tips that come from her rags to riches story include:
Molly committed to training and development and created structure and discipline around that.
Letting go and learning to delegate to other people was her biggest challenge from $1 million to $5 million. She used a Gazelles coach to help her with that.
She was innovative and took her best customers and created targeted merchandise programs for them. By customising the selling approach, it eliminated the need to create new product lines.
Having meetings daily, weekly and monthly and making sure they were productive and added to the team spirit was important.
Moving product lines into organic products and becoming certified means that the company was then able to go from potentially $10 million in revenue to $30 million in revenue.
I see this type of model working in jams in places like Charters Towers. There are so many great jam makers and who doesn't love a good jam spread?