|Right-Brain Business Plan by Jennifer Lee|
When I opened Hint Jewelry one of my first projects was to write a business plan. Five years later and I have three different versions still in draft on my computer. Needless to say I'm not the poster child for writing a business plan.
However, writing a business plan before you open your online shop or within the first year, is actually an extremely important exercise, so don't skip this step. Even if you don't finish the business plan or you get frustrated and confused because you can't answer some of the questions regarding target market, competition, or finances, writing the business plan shows you what you need to learn and keeps you focused on the reality of running your shop.
Here are some things that writing a business plan will help you do:
- Set realistic financial goals
- Learn about your target market and how to connect with them
- Develop marketing strategies
- Look at what works in your business and what needs to be abandoned
Here are some business plan tools to check out:How to Write a Simple Business Plan at Moo.com
Writing a Business Plan Tips at Moo.com
Moo Startup Toolkit
Right-Brain Business Plan by Jennifer Lee
The Planning Shop by Rhonda Abrams
Successful Business Plan by Rhonda Abrams