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THE WHOLE LEAF by Bill Waddington SAM LEE/WORLD TEA MEDIA Unfortunately, failure is an option OUTREACH: The author (center, extending hand) says passion is a vital characteristic in a tea retailer, as it can help get others excited about tea. I 've been in the specialty tea business for almost 20 years. In that time, I've seen dozens of businesses fail. There was even a point, early on, when my company could have become one of those casualties. In that spirit, here's some advice for new tea business owners that I've learned over the years. I can't give you an unencumbered road to success (you may make some new mistakes all your own), but I can help clear some brush out of the way. realizing that you'll be living with a very high stress level. This is your livelihood we're talking about, and you're laying it all on the line when you launch a business. The upside is you'll never be bored. There's nothing like the adrenaline rush on Friday morning as you wonder whether there's enough money in your account to cover the payroll checks you just sent out. NUTS AND BOLTS GETTING PREPARED Before starting a tea business, it's vital to put in some preparatory work. One thing I'd recommend is working in a similar or related business such as a restaurant, coffee shop or even another tea company. If you do have the chance to work at another industry enterprise, be honest and upfront about your intentions—the tea world is small enough that duplicity will come back to bite you. Also, take a basic accounting class before you open your business. I really wish I had done this so that I would've had a better grip on the numbers from the start. Once you have some basic accounting knowledge, you can do a break-even analysis for your business. As you crunch numbers, underestimate your sales considerably while grossly overestimating your expenses. This will go a long way toward keeping you from getting in over your head. I also recommend doing a bit of mental preparation—namely, 56 Fresh Cup Magazine freshcup.com When it's time to craft your business philosophy, one guiding principle I follow is to sell the best-quality product possible. There is plenty of mediocre tea in the marketplace already, but if you hang your hat on quality, your shop will automatically stand out. Sample and choose your tea selection well before you actually open. Have a wide variety of prices and teas. Carry everydaypriced teas along with high-end teas, but strive to have the best quality in any given price range. If your primary business is selling specialty tea, you should carry at least 60 to 80 teas. Resist the temptation to open with 200-plus options. Start with what you think is a reasonable minimum for your particular business. Beginning with too many can be overwhelming (for your employees and customers). And people always notice when you take something away from them. On the other hand, if you start with fewer items and then add a