Your Small Business, Business Plan
Photo by Kyle Glenn on Unsplash
Disclaimer: I am not a certified business anything. I write from my perspective as small business owner and as a graphic designer who supports and empowers her small business clients to grow their business.
Whether you are talking to a prospective lead, imagining a new logo, or successfully completing the first few years in business; having written a business plan will help you focus on what is important.
As a small business owner, you are often being pulled in a lot of directions. And it's easy to feel overwhelmed and leave the creation of your business plan for another day. Here's my advice to get started on writing your business plan: brain dump. I love brain dumps. This is where you write and write and write whatever comes to mind on a particular subject. Using the following 9 topics, recommended by the SBA, start writing about what comes to mind when you imagine your business and just write. Seriously - don't edit, don't spellcheck, don't worry... Just write whatever comes to mind on the following topics.
Summary of your business: high level overview of the company including it's mission and purpose.
Company description: What do you do for your consumer?
Market analysis: Who are your competitors? Jot down what you know about the current market. If your not sure - do your research - then jot down what you learned.
Your team: Is this a solo endeavor or will you have a partner or team?
Item: What product or services will you provide to your consumers
Marketing and sales: How will you connect and share your company?
Funding: How much will you need to make or have invested to survive for the next 5 years.
Financial projections: Chart a reasonable estimate of your weekly, monthly and yearly incomes for the next 3-5 years.
Appendix: Any necessary permits, disclosures, licensure, etc. you will need? List them here.
Once you've done your brain dump, walk away. Get a coffee, glass of wine, do a youtube yoga session, whatever you do to disconnect... I do all of the above. Don't look at your notes for at least a day. This gives you the opportunity to reflect without being overly critical about yourself.
Next step is to read what you wrote and revise. Once you've gotten this information together, you'll be amazing how much easier it is to talk about your business with others including potential customers!