1 QUICK-START BUSINESS PLAN This plan will help you ask and answer your most pressing business questions. And before you know it, you’ll be making money doing what you love! Why you do your work will always affect how you do your work. TIER 1 — Build Your Foundation Define your WHY. Why are you doing this? Why is it important to you? Understanding your “why” will inform every other decision you make when building your business. Setting your goals on the front end will help you create a solid plan to reach your finish line. Set your GOALS. Set goals for your business. They need to be specific, be measurable, and have a time limit. Setting goals on the front end will help you create a solid plan to reach your finish line. NOTES: TIER 1: Build Your Foundation 2 TIER 2 — Make Your Business Yours When you stay in your strengths, you not only have more success, but you also have more fun! Work in your STRENGTHS. Have a plan for your MONEY. You’re going to be the most successful The difference between a business and a when you stay in your strengths. What hobby is that a business makes you are you good at? What do you enjoy? money, while a hobby costs you money. Those are the things you should dedicate You don’t want your business to drain most of your time to in order for the your personal bank account, so it’s business to succeed. For things that you important to decide on the front end: don’t enjoy or struggle with, you can get How much are you willing to spend on outside help, delegate or automate. the business before it funds itself? Have a plan for your TIME. This is where you put your goals into action. How many hours do you spend on your business each week in order to reach your goals? Those hours you want Your business will grow in proportion to the amount of time you commit to it. to spend on your business will only happen if you plan them ahead of time. Think about your schedule. What will you have to give up in order to make room TIER 2: Make It Yours for this time? TIER 1: Build Your Foundation NOTES: 3 TIER 3 — Get Operational Plan ahead for the crazies, because I promise you in business—like in life—there will be some! What are the LOGISTICS of your business? What is the PLATFORM of your business? How will you fulfill orders? What processes do you need? Thinking through the logistics of your business will help you run it efficiently. Being efficient means you save time and money! This is where your business will live online. It may be an Etsy store, a blog or a website. Choose something that will be easy for you to use and makes sense for your business. What are the POLICIES of your business? Set policies, processes and procedures to protect yourself. Think through difficult customers (because there will be some!) and worst-case scenarios. How do you want to handle last-minute lesson cancellations, refund requests, or multiple order changes? Planning for this now will help you communicate policies to your customer on the front end and avoid complications down the road. NOTES: TIER 3: Get Operational TIER 2: Make It Yours TIER 1: Build Your Foundation 4 TIER 4 — Put Yourself Out There Your target market isn’t everyone. It’s one type of person. Figure out who that is and talk to them—and only to them. What do you want to be KNOWN for? This is your branding. Branding includes your look, tone and feel that people experience when they interact with your business. Start by brainstorming with adjectives that describe your business (e.g., luxurious, essential, casual). Then you can make decisions about your branding based on the adjectives you choose. Who is your CUSTOMER? This is your target market. Your target market includes people who want what you have to offer and are willing to pay the price you charge. Think about who they are and where they hang out—then go there. When you know more about your customer, you can build your marketing efforts to reach them with less effort and more impact. Setting your goals on the front end will help you create a solid plan to reach your finish line. NOTES: TIER 4: Put Yourself Out There TIER 3: Get Operational TIER 2: Make It Yours TIER 1: Build Your Foundation CHECKLIST Define your WHY. I love doing this because: Set your GOALS. Write down the top three things you want your business to do for you: 1. 2. 3. Work in your STRENGTHS. List two things you’re good at: 1. 2. Write down something you don’t enjoy and how you could get outside help for it: Have a plan for your MONEY and TIME. What dollar amount are you willing to spend on your business before it brings in any money? How many hours per week will you dedicate to your business? LOGISTICS, PLATFORM and POLICIES. Using a separate sheet of paper, take some time to think these through and write them down. Check off each one once you’ve nailed it down: Process for filling orders and/or making appointments Platform where your business will live Refund policy Deposit policy, if applicable 5 CHECKLIST continued... What do you want to be KNOWN for? List 10 adjectives that describe your business: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Who is your CUSTOMER? Find out which sites and/or brands they use the most and write them down here: BUSINESSBOUTIQUE.COM 6