Alright – so today we’ve got the honor of introducing you to Kirk Hutchinson. We think you’ll enjoy our conversation, we’ve shared it below.
Kirk, thanks for taking the time to share your stories with us today Being a business owner can be really hard sometimes. It’s rewarding, but most business owners we’ve spoken sometimes think about what it would have been like to have had a regular job instead. Have you ever wondered that yourself? Maybe you can talk to us about a time when you felt this way?
Being a business owner comes with a lot of emotions. It’s a constant roller coaster of big wins and anxious lows. I occasionally think about what it would be like to go back to working for someone else. It doesn’t happen often that I have that thought, but the anxiety of knowing everyone and every part of the business relies on you can really make you feel overwhelmed and want to toss all your hard work away sometimes.
The last time I had the thought of me working for someone else was January of 2023. I was 2 years into starting the business and sales were not where they needed to be. I couldn’t justify or convince myself of the risk to spend more money and bring on more help to grow the business as I wasn’t sure that it would even work out. I cried tears of happiness and sadness as I was stuck in the middle of hating myself for spending my entire savings to start something I now felt was going to fail and being so incredibly proud of the company I’d built from scratch.
My bank account balance was -$1,700. $800 of that negative balance were purely overdraft fees from automatic software subscription drafts. I’d lost a partnership with another company that was paying half the rent on our commercial space and was now stuck with the entire bill. My personal credit cards were still maxed from the first year investment. No bank would give me a loan because my credit score was ruined from my irresponsible college days. One would think the set of circumstances would motivate me to find alternative ways to increase sales and get out the negative but the exact opposite was happening. I went into a deep state of feeling sorry for myself and unmotivated to do anything. I sat at home for three weeks and did absolutely nothing as I was overwhelmed, self-sabotaging, and mad at the world for not supporting my small business.
As week 4 of zero productivity approached, I randomly woke up one day and asked myself what the plan was. Was I going to return to my previous life of working for someone else. And the answer was a BIG NO. You see, once you’ve had a taste of what it likes to be a successful entrepreneur, it’s very difficult to every imagine going back to working for someone else. I immediately jumped out of bed as this rush of motivation came across me. These rushes happen quite often for business owners, actually. We’re notorious for having a million different ideas running through our head at once. Finally, my rush returned.
I made a social media post that was necessary but something I’d let my ego talk me out of doing. You see, all my friends and family thought I was super successful and had plenty of money. And I liked them to think of me that way. But the truth was, I was broke. The truth also was that nearly 95% of them weren’t even the reason my business had made it through the first 2 years. They weren’t spending money at my place so why was their opinion of me even relevant? I made a post on Facebook telling my customers and followers of the struggle my business was having and asked them to please come support me or my business was going to close. The next morning, I woke up to a post that had went viral across the nation and brought in a very hefty amount of sales. My motivation returned and the engine of the business crunk back up. I had so many ideas suddenly of how to grow the business and wanted my second chance to be a fresh start.
Here’s what I took away from my experience. Your business relies on you to survive. Pay attention to your COGS as numbers must make sense financially. Not adjusting our prices to match inflation was a huge mistake of mine. Determine what percentage your COGS will be and stick to it. Location is key to a successful business. Before you begin, scope out available real estate and determine whether you can afford a place that makes sense for your type of business. If it doesn’t make sense, don’t settle for cheap rent in a bad location as this will not work out. Save up more money so you can afford the correct spot. Learn the difference between fear and anxiety. This is essential to your well being as a business owner. Take care of yourself. Don’t put 85% into your business and only 15% into yourself. This will lead to burnout and hateful feelings towards your business. Don’t listen to others that preach about being more realistic. If you believe you can do something, take the risk and go for it. I can guarantee you all successful business leaders are people who once and probably still do take on large risks to create something incredible. If you need help, don’t be afraid to ask for it. However, don’t rely on friends and family. Express your concerns to your loyal followers as these people are the ones who ultimately allow your business to thrive long term and put money into your pocket as you have something they love. Don’t beat yourself up over mistakes. Give yourself 2 times to make the same mistake but then learn from it and don’t repeat it again. Not everyday is going to be a pleasant one. Accept this from the beginning yet have a plan for all the small things that could go wrong. That way, when things do go wrong you’ve already got an action list prepared for response. Last, tap into your creativity constantly and build a team that is capable of carrying out your ideas. Stick to what you do best…the idea maker. You’re not going to be able to accomplish everything you think of alone. Hire a team with specific individual roles that they excel at so that your ideas can come to fruition.
Kirk, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?
During COVID, two things happened that caused me to start a business. I lost my job and realized I was diabetic. I had to give up sugar and foods that were high in carbs while sitting at the house unemployed for 6 months. So I started baking. However, I wasn’t baking like a typical baker. I was finding recipes online that were tailored to individuals with dietary restrictions. Specifically, I was creating baked goods that were free from high carb wheat flours (gluten) and sugar.
Power of the Almond is a gluten free and sugar free bakery and food manufacturer that creates the most incredibly tasty treats for those of us that can’t have the “normal” stuff. You see, a huge gap exists in the food industry for individuals like me as most companies cater to the masses and forget about us. But I get it. They’re focused on large profits and business plans that will always have huge amounts of customers if someone decides they no longer want to buy from them.
Although sugar free and gluten free products do exist in small quantities, the majority of bigger brand names that do make these products use cheap sugar alternatives and cheap flours that are still high in carbs. Just because something says it’s sugar free DOES NOT mean it’s diabetic friendly. What sets Power of the Almond apart is that we use very high quality ingredients like monk fruit and almond flour to make our baked goods. Yes, our ingredients are pricey but I want people like me to experience something that still tastes incredible and doesn’t feel so different from what others eat. Our products have zero bitter aftertaste thanks to monk fruit which tastes just like real sugar and our finely ground almond flour allows us to create cookies and other goodies you’d never imagine were gluten free. We go the extra mile to ensure quality is our first priority. Something that also ensures our business continues to survive as our customers become loyal fans that continue to buy.
I’m extremely proud of the mark and indent we’re making in the food industry one small step at a time. Our mission is to create an allergen friendly company that embraces diversity and stands for the inclusion of consumers with specific dietary needs in the food industry: an inclusion made possible without forfeiting taste. Whether it be eliminating sugar from your diet or addressing gluten intolerances, Power of the Almond strives to be recognized as an empathetic leader in the specialty food industry that positively impacts our food system while employing members of our local community. We envision a world where no gaps exist in the food industry and all consumers are catered to regardless of their dietary restrictions.
We’d love to hear the story of how you built up your social media audience?
Building an organic audience is crucial to your business. You can’t rely on always paying for ads and boosting posts. The most important thing I can tell you from my experience building a page with over 10K loyal followers is engaging with your followers. When someone comments or asks a question, respond quickly. Let your audience know you hear them. The algorithm favors this and will show yours posts to more people for free. If you don’t engage with followers, you’ll be stuck paying for ads.
One more thing, don’t pay for followers. It’s not only a waste of money but nobody cares how many followers you have. Build over time and your follower count will eventually get big one day. I’d rather have only 100 followers on my page that are actually going to support me and buy something rather than a 1,000 random people that could care a less about your business. Focus on organic leads and engaging your local community with your brand first, then begin to reach out to larger audiences across the nation through paid ads. Be sure you’ve defined your target market before running ads so you don’t waste money showing your product to the wrong people.
Do you have multiple revenue streams – if so, can you talk to us about those streams and how your developed them?
We have 5 different steams of revenue at my business. We’re a food manufacturer and a bakery. The store front is our first revenue stream. Second, we offer wholesale with do business with over 40 different retailers throughout our state and surrounding states. Third, our e-commerce site that allows us to ship our products directly to consumers. Fourth, we sell on other sites like Amazon, Walmart, & Etsy to supplement our income when sales are low. Amazon is a huge revenue stream for us and learning how to organically have your product show up in search results is crucial. Our fifth revenue stream consists of local events like farmers markets, pop up shows, grocery store demos, and festivals. Not only is this a great tool for marketing your brand but it also brings in more money.
Contact Info:
- Website: Www.powerofthealmond.com
- Instagram: @powerofthealmond
- Facebook: @powerofthealmond