{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"ACP 050: Stuart Guest-Smith of Bare Coffee","description":"6:00 WHY WORK WITH AND FOR BARE COFFEE RATHER THAN ANY OTHER ROASTER\r\n\r\nChance to work with friends\r\nEnjoy working in a space (the USA) that is still blooming\r\nA chance to apply skills from other industries and take into the coffee industry\r\n\r\n \r\n7:30 WHAT ARE 1-2 BUSINESS MISTAKES COMPANIES MAKE\r\n\r\nNot specific to coffee, they’re always let by passion but don’t always identify the main goal whether that’s pure profit or a passion to be within the industry\r\nIt needs to be business first and passion second, because at the end of the day the passion stops when the money runs out.\r\nWhy is it you want a cafe rather than any other business. The key is when someone says “I wanted to run a great business and I love coffee.\r\nOr do what Richard Branson did, hire to your weaknesses so you can focus on your strengths\r\n\r\n\r\n \r\n14:00 HAVE YOU HAD TO TURN AWAY A CAFE THAT DIDN’T HAVE THEIR BUSINESS ACUMEN UP TO SNUFF, OR A CAFE THAT SLIPPED\r\n\r\nMaybe its been a lucky streak with our marketing, but we haven’t had a customer in that situation\r\nOur marketing is a ‘wine to coffee’ and the intrigue round that\r\n\r\n \r\n20:00 WHAT ARE THE MOST COMMON QUESTIONS YOU GET ASKED\r\n\r\nPeople trying to understand who we are, and why come from Australia to the USA?\r\nA good second question is what is the difference between the US and Australian market?\r\nWe can talk about competition because the Australian market is so robust, so much competition in close proximity.\r\n\r\n \r\n26:00 WHAT IS 1 THING YOU WISH CAFE OWNERS DID OR DIDN’T KNOW\r\n\r\n\r\n"Do you know what a balance sheet is?” \r\n\r\n \r\n\r\n29:00 THE TEAMWORK IN AUSTRALIA WAS GREAT\r\n\r\n\r\n“They’re paid well”\r\nEach cafe respects their internal culture\r\nBrothers Espresso, Queensland Australia\r\nBoom Coffee, Houston\r\nWrecking Ball San Francisco\r\n34:00 Smallest espresso bars, hole in the walls, are great. PROS: so cheap to setup and run day to day. Quirky and tiny, smaller, faster, cooler, small menu.\r\n37:45 I think we’re tapped out on sports analogies\r\n42:00 there is plenty of room for growth within the coffee industry\r\n\r\n\r\n \r\n\r\n42:30 HOW CAN A CAFE GROW 10X?\r\n\r\n\r\nKnow your COGs (cost-of-goods-sold)\r\nUnderstand your operating capitol needed\r\nIdentify your differentiators\r\nTeam up with another business like a local bakery, “What can we do where we both make a killing” also private label roast for other businesses\r\nKeep your eyes on cold-brew as well\r\n\r\n \r\n49:30 IDENTIFY YOUR UNIQUE PROPOSITION\r\n\r\n\r\nCustomer Service is a hard thing to market as the differentiating factor\r\nAlways step back and think of a couple of hooks that will establish a relationship with your brand versus another brand.\r\n\r\n\r\n","author_name":"The Audio Cafe: for Baristas, Coffeehouses, Coffee Lovers","author_url":"http:\/\/audiocafepodcast.com","html":"