Saturday , 24 June 2017
This is going to sound old-school and super boring; but I would never, ever quit my day job with the intention of supporting myself with any venture without first writing a business plan.

Writing A Business Plan Helps You Budget Your Time and Prevents Burnout

Made To Order DAY PLANNER

Made To Order DAY PLANNER | by: lmoss

This is going to sound old-school and super boring; but I would never, ever quit my day job with the intention of supporting myself with any venture without first writing a business plan.

A business plan addresses key issues of determining what you must do in order to earn the money you need to earn to support yourself without that day-job paycheck. A business plan addresses these key concepts:

  • Overall description of your business
  • Market analysis including competition
  • Description of Products and Services
  • Marketing and sales strategy
  • Organization and Management
  • Financial management and record keeping

The U.S. Small Business Administration has great free resources for you to create a business plan (and a whole host of other helpful information). Creating a business plan is not an easy task and it will take commitment and focus on your part to do it. But if you don’t focus here, you will continue to run in circles and punch in the dark. Writing a business plan allows you to punch with the lights turned on!

Many entrepreneurial initiatives in your state will help you draft your business plan and may even help you with funding if you need start-up money. Look on line for something like “Small Business Development Center Your State” to find local resources.  Your local college will also offer business classes in which one assignment is to create a business plan!

Most successful businesses did not stumble into their success. They also didn’t spend a lot of time running around in those ragged circles. They became successful with a plan and a strategy. By following a plan, you can budget your time so that you don’t burn out. You can also determine if something isn’t working or you’re not on target to hit your goals.

Good luck to you in your business (but if you do a business plan, luck really isn’t part of it)!

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7 comments

  1. I think this is one of the hard things for my creative side to do. I would much rather just make things :-) But I agree that in order to be successful, we need to have a well developed, focused, and researched goal. Otherwise we are just floating along hoping for success. Many successful business were started on flukes, but they continue to succeed because they implemented good business practices.

  2. Crooked Little Stitches

    I’m still in the infant stages of planning and creating a small business. I have a hard time believing that I will ever be able to quit my day job. My dreams are small for the time being, but a plan will help me stay focused.

  3. This is really true. Before doing anything important and requires a big change needs to be planned carefully. Thank you for posting this!

  4. Thank you for posting this concise reminder of what I need to do immediately, to quit spinning my wheels and move forward!

  5. I started my own design studio from a couple of months now and after building up the visual identity, shop and website and also found my first clients I feeling a little bit lost on how to go on. I think that maybe a business plan is what I need! Thank you for the great post!

  6. thank you for the information. i am feel a the burnout you have mention. beside this business plan, i also need to figure out a marketing plan. my wife and i have all these creative ideas and i don’t want it to become waste effort. i will definitely take this initiative seriously.

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