WLE Leslie member for 31 weeks 1 day Send a message

Running and growing a business is often about taking – and mitigating – risks. Every product introduction, every sale and every hire holds the potential for great success, but also contains an equal chance of disappointment. So how do you keep the calm demeanor of a high-stakes gambler while ensuring you’re in a position to achieve your company’s goals?

For Lisa Johnson, owner of Gourmet Kitchens (www.lastminutegourmet.com), a Chicago-based manufacturer of premium, ready-to-eat foods under the Last Minute Gourmet and Expresa Latina brands, it’s a matter of taking measured, calculated risks. It worked for her when she started the company as a corporate catering establishment 20 years ago, and again when she transformed it into a manufacturer of prepared foods available through leading supermarket chains. In fact, Johnson hesitates to even call herself a risk taker, even though she’s often had to alter her business vision to succeed, which she has. Today, Gourmet Kitchens has more than 300 employees.

Johnson’s steps to stepping out of her “comfort zone,” managing risk and becoming a success include the following:

● Keep track of the changing market.

Sometimes, the market you’ve comfortably grown with changes. “When I started the corporate catering company, it was the first in Chicago. It was this great market I had to myself,” she notes. “Fifteen years later, I had 300 competitors, the economy slowed down, and I wasn’t growing.”

As a result, she shifted her focus to prepared foods, an area where she saw greater potential for growth. “I was looking to keep the business going,” she adds. “We had to diversify. It was a protection device.”

● Be receptive to transformation.

While the change from corporate catering to manufacturing premium foods might appear subtle, in fact it turned Gourmet Kitchens into a completely new business. Suddenly, Johnson had to be concerned with issues such as shelf life, food science, and government regulations. Plus, she had an entirely new customer base to pursue: picky supermarket buyers. Yet her first sales call – to a food store in Chicago – also became her first sale, and today the company sells to major supermarket chains. “I don’t worry about people saying no,” Johnson says. “I make a call and the worst thing someone can say is I don’t want your product. Then I just have to move on and try again.”

● Stay innovative.

By staying ahead of the curve – coming up with products nobody else has, or reaching out to markets that are underserved – Gourmet Kitchens has been able to maintain a leadership position. “When we got into the grocery business, there wasn’t anyone doing our kind of fresh food manufacturing,” she says. “We got to define the business and show people new ways of doing things. We enjoy setting trends instead of following the rules.”

Now, with large, multinational competitors, Gourmet Kitchens has to remain innovative. “We have to stay a step ahead,” Johnson notes. “That’s what being small and nimble is about. You don’t have the financial resources, but you have the creative resources.”

● Trust what you know…even if it’s not obvious.

You would think that Johnson, as the owner of a caterer and then a food manufacturer, has a background in the culinary arts. But that’s not the case. “I’m in the food business but I can’t cook,” she admits. “I love great food but I can’t prepare it, which means I’m feeding a niche that I’m a part of.”

This success story was provided by OPEN®, the American Express team dedicated exclusively to the success of small business owners and their companies. To obtain more information about OPEN, visit open.com/women.

Read More articles at Women's Leadership Exchange!