One of my favorite areas to explore with clients is how to increase cash flow. The best solutions usually come in the form of increasing income rather than cutting expenses. Look around you at the people who changed their whole being when faced with a need to make more money, either because they had lost a job, or refused to continue to tolerate a job they disliked.
In Austin, there is an entrepreneur named David Ansel, known as the Soup Peddler. A few years back, David refused to stay in a corporate job he didn’t like. He tried a couple of different ideas that didn’t work, including yoga and massage school. Out of desperation, he decided to email a few friends to see if they would pay $10 for soup if he delivered it to them on his bike the next week; seventeen said yes.
David had never taken a cooking class. Nevertheless, he whipped up soup for his customers that week. For years, David could be seen delivering soup on his bike to his growing customer base. To demonstrate where the Soup Peddler is today, let me just say that he was featured in a eight page spread in Food and Wine magazine, has been on the Food Network, and on NPR’s The Splendid Table.
David’s inspiring story is full of revelations and good business sense.
He decided to become an expert; hang-ups about not being good enough didn’t hold David back. He chose to become a soup expert, and he became one.
He risked rejection when he called his friends, but he called them anyway.
He used what he had to make some money; a bike, a kitchen and some friends.
He went for what he really wanted, which was to get out of a corporate job he didn’t like.
He has fun; David dresses in superhero costumes and acts silly for fundraisers
He was creative and unique. There aren’t many businesses where the owner delivers homemade soup on a bike!
He used the brilliant concept of lean testing. David tried out his idea with as little effort and expense as possible.
Don’t you love this story? David created a unique business that nourishes his customers, puts money in the bank, and allowed him to do something he loves. Now that’s a rich life!
Yeah David! He was one of our first guest entrepreneurs at Money Academy Camp and he wowed the kids with great stories and drawings of his entrepreneurial journey. And he inspired me to keep building and learning how to best serve our customers. He’s an inspiration to all who know him. Thanks for sharing his story Camille.
Thanks for your comment Gayle!
So, which path did David follow? Did he increase revenue, or cut expenses, or both?
I think his expenses were already pretty low! And he certainly grew his income. Thanks for the comment.