I wish you all the very best New Year!
Now - down to business! The first question I should probably answer is....
It's already the 1st - Isn't it too late for a business plan??
The answer is NO! It's never too late for a little planning.
The next question you are probably pondering is....
Do *I* need a business plan?
The answer is - that's up to you. :) I think that if you are running a business - you need a plan. The plan I am talking about is not necessarily a big formal binder with sections and tabs... I am going to keep it simple.
Ok - so here's my advice for a simple, workable plan.
1. You MUST have a goal.
- It should be attainable and not set too low. A bad goal is "I will sell one more item than I did last year." Sure - you'll probably reach your goal - but how fulfilling is THAT??!!
- Your goals can be weekly, monthly or overall for the year.
2. Products
- Take a look at your sales from the past year. What worked, what didn't?
- Focus on what works!
3. Venues
- There are a TON of online and offline options.
- Look at what worked for you in the past - maybe drop venues that were not so profitable.
- Want to expand? Research - and decide what venues might be a good fit for you.
4. Marketing & Promotion
- Network wisely. Did you have more sales when you blogged? Keep that up!
- Spend your time wisely. There is such a thing as too much promoting! (That's when you have no time to make things....)
5. Advertising
- Decide how much $$ you want to spend on ads.
- Find the best places to place an ad - it should fit your product. Just because it costs little or nothing, does NOT mean it's the best fit!
6. Pricing and Budgeting
- If you haven't - develop a pricing strategy that works for you, your product, and your market. Stick to it! DO NOT UNDERVALUE your time or your work!
- Budgeting - I can't offer good advice on this one...my plan is - if I have the money to purchase supplies, I will. One thing that is a MUST for me - no credit cards. That means if I have no income from my sales, then no buying!
There you go - fairly simple....and it may be far too simple for some. Your business volume will tell you how much detail your plan should have.
I wish you all much prosperity and success for 2009!