#39: Coffee is a Business (Whether You Like it or Not) | Andrew Gough | SCA Lectures 2018

Summary: Owning and operating a coffee business is a sexy idea, but many operators are too bogged down working "in" their business instead of working "on" their business. In this lecture, recorded at the 2018 Specialty Coffee Expo in Seattle, Andrew Gough tells us his business story using real data and shares a simple tool for monitoring your business markers. Andrew Gough founded Wichita-based Reverie Roasters in 2013 after spending nearly a decade in the financial services industry. Two years after opening his coffee roaster/retailer, Andrew joined his team full-time and Reverie Coffee Roasters has grown into an award-winning company, determined to solve the struggles of our city through community engagement and by promoting civic pride. Related Links - Read the full transcript on SCA News: https://scanews.coffee/podcast/39/coffee-is-a-business-whether-you-like-it-or-not-andrew-gough-sca-lectures-2018/ - Listen to other episodes of the SCA Podcast: https://scanews.coffee/category/podcasts/sca-lectures-podcast/ - Learn more about the upcoming 2019 Lecture Series: https://coffeeexpo.org/lectures Subscribe to this podcast on your favorite app: - iTunes: www.apple.co/2sXdmSj - Stitcher: www.bit.ly/2JBJOk8 - Pocket Casts: www.bit.ly/2JBowTT - RadioPublic: www.bit.ly/2JCfeGY Table of Contents: 0:00 Introduction 1:30 Andy Gough’s introduction - we need to have a talk about making money 4:45 Andy Gough’s personal story and how he started Reverie Coffee Roasters 7:45 Being honest with yourself about whether financials are your strong suit and bring in help 15:00 The importance of having conversations with your employees about financial sustainability 18:00 The story of Reverie Coffee Roasters’s business as told through financial numbers 33:15 How to embed your business' financial performance in discussions at all levels 40:00 Audience questions 1:10:30 Outro