BIZ PIE – ingredients

I was asked recently why I called my company BIZPIE. As I paused to compose a response, a swirl of thoughts, memories and long held opinions jumbled up in my head. Like a fog that suddenly cleared, it came to me – because running a business is so darn hard.

A “business pie” or biz pie, is all about the ingredients. As someone who cooks a lot, I pay close attention to not just how much of any one ingredient I put in the pie, I search for the right quality and taste, depending on the pie I’m making. The same in business. A Controller for one industry is not necessarily going to be successful in another – even though every business needs one.

Most people start a business because they see an unfulfilled need they think they can address. They are hungry and have an idea of a new pie. They throw in some ingredients – people, process, cash etc. and cook them together to get the result.They fiddle with the mix, they test the market and fiddle some more until it starts to sell.

Over time, the process that results in 10 pies a day is too slow when the demand is 100 pies a day and they have to come up with different, more efficient processes. They may need more cash, they may need more and/or different people.  Shortages may require them to change the formula. They may have the opportunity to expand where they sell their pies or add new products to the line.

All this is within a context of competitors who also make pies, and customers who may decide they don’t want pie anymore. If you are busy making the pies yourself, you won’t have time to be scanning the environment for new product ideas or competitive threats.

Take some time this week to focus on one ingredient, or one new product idea that has been teasing or annoying you. “Time, talent, and money. It does matter how you slice it”.

If you are not a subscriber to BIZPIE blog, you can subscribe here.

Image of a Key Lime Slab Pie I made when my neighbors disclosed that those little “limes” scattered under the tree in their front yard were KEY Limes. I jumped on the opportunity to make a special pie when the ingredients were readily available and I saw the “need” for the product. YUM!!