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So many questions so many ideas after the book

Miljan Minic

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Hi fastlaners,
So many questions, so many ideas!
I’m high school teacher and I like my job!
BUT since a long time I’m passionate about business.
I’m about to open a coffee shop and would like to do some brainstorming about fastlane activities a coffee shop should have.
For example I think producing ice cream and selling it to other coffee shops should be one of them as it’s not territorial oriented anymore. Smash that reply button if you have some!
 
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Johnny boy

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Is there any difficulty in getting good coffee where you'll be opening it up? Is there a market need that is underserved whatsoever?

Do you see an opportunity to add any value at all? Ice cream to other coffee shops? They can just go buy a tub of ice cream at the store, and you don't need to have a coffee shop in a busy area to make ice cream, now you're a b2b manufacturer which is a much different model.

The most fastlane "thing" a coffee shop can do is add significant value, or not open up at all. You are fighting uphill against a lack of asymmetric returns. You can have a great product, market it perfectly, hustle your a$$ off and get a WHOPPING 10% increase in sales since everything is local. I'm not so sure there's lots of people walking around your town thinking "gee, I can't seem to find a good coffee shop anywhere". If there IS a bunch of people thinking that, then you'll likely do okay, but it seems to be a solved problem everywhere you go.

You can go niche and make it an experience. Like make it function as a perfect coworking space, or make it a more specific fit for a certain audience. Like if there's a way to make it "the spot" for a certain group of people. Like if all of the tech people work there because you have the fastest internet and have a quiet space with a white board for people to have ideas and get work done.

Businesses like these are sometimes good starting points. They'll keep you busy, you can follow a 'model' and likely do okay, and it teaches you to get your hands dirty learning how to run a real business. But, the big money is later, when you learn your lessons, see another opportunity that is more specific and scalable, and you do something else. Like if you recognize a need for a better machine to use so you manufacture it and sell it to other businesses, or you create a new type of coffee everyone loves and you scale that up.

Just remember, if you want to get ahead, it won't happen for no reason. There needs to be a 'reason' for you to be successful. If there's other great coffee shops near you and you just become one of them, there's zero reason for you to be successful.
 

Andy Black

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Hi fastlaners,
So many questions, so many ideas!
I’m high school teacher and I like my job!
BUT since a long time I’m passionate about business.
I’m about to open a coffee shop and would like to do some brainstorming about fastlane activities a coffee shop should have.
For example I think producing ice cream and selling it to other coffee shops should be one of them as it’s not territorial oriented anymore. Smash that reply button if you have some!

Curious how long you’ve been a teacher and how much experience you have running coffee shops.

Can you “grow what you know”?

If your bills are paid via your teaching skills, then can you start a business using those skills?

Not saying not to start a coffee business. It’s just that many see the grass greener elsewhere because they don’t see the grass growing under their feet.

 

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