EP 1126 Matt Toogood - The Harsh Reality For Some Coffee Businesses - The Daily Coffee Pro Podcast by Map It Forward
This is the 5th episode of a five-part series on The Daily Coffee Pro by Map It Forward Podcast, hosted by Map It Forward founder, Lee Safar.
Our Guest on the podcast this week is Matt Toogood, the CEO of world-renowned coffee brand, Raw Coffee Company based in Dubai.
In this episode of The Daily Coffee Pro by Map It Forward, host Lee and Matt discuss the harsh realities businesses face, especially in the coffee industry, during challenging times.
They provide insights into why some businesses fail, how to analyze the reasons behind the failure, and the importance of closing a business with dignity.
Matt emphasizes the necessity of open communication with your team and stakeholders and offers practical advice on managing cash flow, recognizing problems early, and ensuring that employees are treated fairly during the winding-down process.
Additionally, they highlight the importance of connecting with suppliers and maintaining human connections in the industry. Don't miss Matt's tips on staying resilient and learning from failures.
This episode is packed with valuable lessons for entrepreneurs in any field.
00:00 Introduction and Business Closure Announcements
00:37 Sponsor Message: Become a Coffee Consultant
01:15 Welcoming Matt Toogood
01:30 Discussing Business Failures and Lessons Learned
03:31 Strategies for Business Survival
04:20 The Importance of Communication and Team Involvement
06:35 MIF Consulting Services and Industry Challenges
10:50 Closing with Dignity
15:44 Future of the Coffee Industry
18:53 Final Thoughts and Farewell
Connect with Raw Coffee Company here:
https://www.instagram.com/rawcoffeecompany/
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🤑 This episode is brought to you by Map It Forward's revised on-demand online workshop "It's Time to Become a Coffee Consultant" available now on our website with additional new bonus material including the coffee consultant career map. Get more details on how you can create an alternative revenue stream today at https://mapitforward.coffee/workshops
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💡Support this podcast, watch this episode without sponsor messages by becoming a paid member of this youtube channel or joining our community on our Patreon here: https://www.patreon.com/mapitforward
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