Writing a Business Plan
The past couple of weeks have consisted of writing a business plan for Fox + Lilly. I have probably put off writing a business plan for around 2 years. Always thinking it was just too big a job to do. I got put off by other templates out there, I didn't understand the lingo or what I should be putting in it. So I just left it and decided I would do it another time.
A lot of the business plan templates out there are just too corporate for what my business is. My business is small and creative. I found a super helpful article on Etsy about how to write a plan for a creative business. I have to say this article helped me so much! You can find the article by Caroline Cummings here. After reading this article I didn't feel so overwhelmed at the thought of writing one, so I finally pushed my fears aside and started typing.
My reason for now wanting a business plan is that I want to be able to create a line of ceramics. Our ring dishes and cones has been so popular, I thought wouldn't it be better if they were ceramics. I've undertaken 1-2-1 pottery tuition so I now know what i'm doing (I think). Only I don't quite have enough money for a kiln. So my reason's for writing a business plan is so I can submit it to places like Start Up for a business loan. I am also hoping that the loan would cover other things like making our packaging better and improve marketing of our brand.
Advice....don't get stressed and give up! Make lots of cups of tea (or coffee) to get you through it. Have breaks, don't try and write it all in one go, it takes time. Do research in to your market. I found a really good research paper on 'The contemporary craft making in a changing economy' that researched in to how many buy craft products and the estimated value. This really armed me with proof that people do buy craft products and that the market is pretty huge. Get some one to read over it, I'm pretty bad with my grammar and spelling at times (thank god for spell check), so I always get someone to read through important documents. I'm lucky that my step-dad and his dad run their own family business, so they've offered to read through my plan.
So if your planning on writing a business plan...do it! Don't hold off and feel its too over your head. Just take your time and look to articles online for help and guidance. Good luck!