Fun Facts for all entrepreneurial spirits

1. You will struggle with how to keep your product or service unique from that of your competitors

2. If things go well, you will one day come to the realization that you can't do it all yourself and you have to let go of some control

3. And, speaking of control, you come to realize that all hell can break lose at any moment, just when you least expect it

4. A year later you realize that you have a better chance of being struck by lightning than achieving your dream of overnight success--success is going to take a lot longer than a year

In todays email:

• The Art of the Pivot : Are you struggling to make ends meet? So many of us are. Wylder has perfected the art of the pivot.

• TRENDING NOW.: Retail is dying. 3 articles in 2024 about struggling restaurants and pubs remind us that we’re not alone.

• Setting goals for growth: Are you looking ahead? 1 year, 3 years, 5 years down the line?

Wylder Space has morphed and evolved year after year. We take inventory of what works, what doesn’t work and what we need to change in order to stay profitable and grow.

Check it out! A sweet video for ya ⤵️ circa 2020, when dining in was unacceptable- we found ways to get creative, generate revenue and remain at the forefront of trends in the industry.

When we opened our doors in the COVID era (July of 2020) we wanted Wylder to be a place for people to gather- together. Our menu rotated daily, with no static items- rather an experience much like going to your best friends house for dinner. We encouraged our patrons to call us or follow on social media to find out what we were making that day.

Year after year Wylder has remained at the forefront of trends in the industry (from meal deliveries to the now popular pop up dining experiences). Through it all, there are 3 keys we use to monitor the industry and trajectory of our business growth.

• Review our yearly revenue patterns.

  • Revenue and Profit Margins: Are you on track?

  • Cash Flow: Is your business sustainable?

  • Debt-to-Equity Ratio: What’s your financial health?

• We analyze the data and do quarterly and yearly forecasts.

  • Income statements

  • Balance sheets

  • Cash flow statements

• If something isn’t generating a profit, we don’t stick around. We pivot immediately, contract where ever we can and look to the next possibility for new streams of revenue.

  •  The question is: Are you happy with where you’re at or do you need to pivot?

Trending

• 2023 was a challenging years for restaurants- will 2024 be better? 

  A local Santa Cruz write up by Lili Belli about all the restaurants and pubs who have shut their doors and what may be contributing to the overnight closures.

• Celebrated restaurants are struggling to keep the doors open The SF Chronicle reports on restaurant owners in the community, yet can’t bring in enough revenue to makes ends meet. Operations like GrubHub and Door Dash are the real profiteers in the restaurant world- taking over 30% of the sales.

• Beloved restaurants in the Bay Area are closing doors.

  One of our favorite breweries has announced its sudden closure in Santa Cruz, CA. This is one of many unexpected closures in the post COVID era.

Goals for Growth & Visionary Strategy

PAINS and GAINS

Do you know your customers?

While many companies focus on acquiring consumers, a strong brand relies on retaining them.

Finding ways to make customers happy doesn't have to be complicated. If you solve their problems and give them what they need, they’re likely to not only purchase from you once but multiple times thereafter. The name of the game is to build relationships with your customers.

Wanna get some cool free stuff? Welp, you can! Networking, referrals, promotion and collaboration are integral skills we need as business owners. Promote others, get promoted. We choose collaboration over competition.

If you click on the button below you’ll see 3 giveaways we’ve got for you. Be sure to check out our FREE business pivot strategy workbook designed for all you peeps who are interested in growth mindset.

As the entrepreneurial spirit behind Wylder Space Inc. connecting with other entrepreneurs is near and dear to my heart. This newsletter is my passion project as I work towards cultivating a grassroots on- line community of likeminded visionaries and entrepreneurs. My mission is to support, uplift and inspire.

It’s an honor to cook for you, work with you and support each other in the entrepreneurial game. xoxo