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GOKA FOODS

by | Mar 17, 2021 | business management, business startup, risk management | 0 comments

So today I had the chance to taste our doughnuts for the first time. They’re really yummy I must admit.
When you get into a business you come with an idea and plan. You come with your expectations of the market but when you get into the market, it’s starts telling you some thing different. Many times the market will push to a very different direction from what you’d planned earlier.

When we came into the market we had a short term market entry plan. Start with fast moving products that can generate revenue to keep the business going giving us the comfort to experiment with the actual products we wanted to introduce into the market long term like mayonnaise, pre-cooked chips that either need lots of capital or are so new to the market and need long sustained pushed.

That’s why we started started with daddies, g.nuts, simsim, hard corns but along the way only daddies have proved to be very very viable generating 85% of the sales. We also learned that having small capital to work with means keeping a healthy cash flow so products that hold capital for long have to be fazed out or scaled down like g.nuts. Clients that hold capital for long like supermarkets with a 30 day payment schedule had to be avoided. Your better off selling to 100 shops a day giving you 20k-30k each than 2 supermarkets taking products of 500k and paying it after 30 days or when they get sold.

With little revolving capital that’s not a luxury you can afford. So we’ve been talking to the markert and have learned alot hence introducing doughnuts to our product line. These are products that are supposed to generate revenues to run the business at present as we work on the long term products we plan on introducing to the market.
All in all the project is progressing steadily as we learn and try to grow along. We shall all learn along the way like I promised for a year we shall share our experiences and lessons.
Jaluum Herberts Luwizza is a Speaker,Writer, Columnist with the C.E.O Magazine and Contributor with the Nile Post.He is also a Business Consultant with YOUNG TREP East Africa’s No.1 Business Management and Consultancy firm that helps people start and grow profitable businesses.
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