Last month we guided you through writing a business plan, the integrous way, but we left out the not-so-fun parts. That’s why we’ve created an easy guide to the harder stuff– with the visionary in mind. So get your poster board, your computer or your notebook out and we’ll get you started on a path to success!
1. Marketing:
Now that you have your target audience and mission nailed down, this is the obvious next step. This is the meat and potatoes of your business plan. You can have a fabulous idea and more importantly, product but if you can’t market yourself you won’t get anywhere. You need to know the following:
- How will you market your products? If the product is a good, will you buy ads on Etsy? If it’s a service, will you post on job boards? You may need to create different activities for each market segment.
- Are you going to use social media? What platforms are relevant to your audience? For example, If your product is in technology, it’s crucial that you use a platform like Twitter, which was the pioneer of social tech.
This is IW at a public event showcasing out programs!
2. Finances:
If you’re a visionary thinker, you might enjoy the big picture, so things like finances seem overwhelming and quite frankly, scary. That’s what we’re here for, simplicity. You can be a big picture gal and be good at the small stuff. You just need to narrow down the following:
- How much does it cost to produce one of your products? How much do your products cost, how many of them will you plan to make in a year, and how will you make a profit?
- How much can you budget to spend on marketing your product or service?
- What are your overhead costs?
- How much time will you be devoting to your product?
3. Business Operations:
Your business may very well be a one-man show, but most likely down the line, you will be needing some extra support to keep a well-balanced life. This may look like a couple of things, so ask yourself the following questions:
- Will you have a team? If so, how many people? If your business is a non-profit or a social enterprise like Integrous Women, will you have committees or volunteers? These roles are equally as important as paid workers.
- If your business is a product, how will you fulfill orders?
- What are the benchmarks for successful operations?
This is an integrous guide, so we wanted to give you a couple of tips from our founder, Stephanie Courtillier, who found that the traditional business plan wasn’t for her. She decided to use an online platform like Coggle, which takes your ideas and maps them in a way that makes sense. She had this to say about her experience:
“I loved working with Coggle because I’m a visual thinker. When I first started creating my mind map, there were only three branches, now there are almost three per section! We built our strategy and business plans from the bottom up because we wanted our community to help build our business. I firmly believe this is something to consider depending on the type of business you want to create. It’s amazing to look back and see the progress we’ve made in such a short period of time”
The above is what a snapshot of IW’s coggle business plan!
There you have it- there’s no wrong way to get started. So why not turn your passion into your purpose today? Learn how you can leave an impactful legacy here.