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TUE, NOV 24, 2020
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Welcome to the CNBC Small Business Playbook newsletter, brought to you by CNBC Events. Think a friend, colleague or business partner should receive this newsletter? Subscribe here.
This week we not only celebrate Thanksgiving, but the official start of the holiday shopping season, including Small Business Saturday. Now more than ever, the “buy local” movement is critically important to the survival of so many businesses. Don’t have the funds to invest in large-scale advertising efforts? Don’t worry. We’ll give you some helpful tips on how to use social media to your advantage. Remember, it’s easily accessible. And it’s free. Tweet me and let me know how you’re using it to drive business.
November is also “National Entrepreneurship Month,” and today we’re profiling a Wisconsin baker who displays all of the traits that set entrepreneurs apart: grit, adaptability, and creativity. Even Beyonce took notice.
Wishing you all a safe, prosperous holiday week.
Gary Vaynerchuk’s advice on mastering the art of online influence
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Now more than ever, business owners are being forced to innovate, particularly when it comes to marketing. CNBC’s Julia Boorstin asks entrepreneur and internet personality Gary Vaynerchuk how people can use this time to enhance their online presence and leverage that influence throughout the ongoing pandemic at the Small Business Playbook Summit.
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GETTING DOWN TO (SMALL) BUSINESS
Q&A with The Pink Bakery Owner
- Name: Nubian Simmons
- Business: The Pink Bakery
- Location: Milwaukee, WI
- Employees: 1
- Website: thepinkbakery.com
- Fun Fact: 1st Black-owned “Big 8” Allergen Free baking mix company
- Pandemic pivot:
After 3 years of looking for a manufacturing and retail location in Memphis that would allow us to grow, I finally had land under contract in March. But one week before closing, the deal fell through. I was devastated. And then Covid hit, and the city shut down. Customers were still ordering custom baked goods, but I was having trouble getting ingredients from my suppliers, and shipping because of postal service delays. It felt like a nightmare and I fell into a depression. The texts and emails from my family and customers got me through, though.
Baked goods accounted for 75% of my revenue, but I wasn't willing to risk my customers' health or mine by delivering them, so I knew I had to pivot and shift the focus to manufacturing/selling a custom-line of baking mixes, which turned out to be the perfect solution. I’m able to ship them nationwide and provide contact-less delivery to customers' homes. It has not been a seamless transition, but I am hoping to increase sales during this holiday season.
Oh… and then Beyonce’s world collided with mine! The Pink Bakery received a grant from her BeyGOOD Black Business Impact Fund, which helps sustain small Black-owned businesses during all of the unrest we experienced in 2020.
The biggest challenge I faced still loomed - I needed a larger location. Without it, I was bound to what only my two hands could produce. Hospitals, schools and retail stores wanted my products and I didn’t have a large enough space to fill the orders. I decided to conduct a nationwide search, and last week, found the perfect location in Milwaukee, WI. I’m excited for the opportunity to grow The Pink Bakery into the company I know it has the potential to become.
Do you own a small business that made a big-time pandemic pivot? Tweet me & use hashtag: #CNBCSmallBiz.
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