Business and Marketing Plan for Mompreneur
Business and marketing plan are important for any form of business. I believe many moms don’t have their business and marketing plan when starting a home based business. For moms who choose to sell electronic products or information website (blog for profit) normally don’t know there are also business and marketing plan involved.
For a Mompreneur who have offline or online business, it is advisable to draft out your business and marketing plan so that it acts as your business roadmap. You will know how to target your market and how to market your products or services. The plans also help you in your funds allocation and you will know where your money will go.
I didn’t create a very formal business and marketing plan, but I do have my plans in a very simple and easy to understand form for me to refer and make sure my business follow the way I want it to grow.
There are some guidelines for you to take into consideration when make your own plans.
1. Your business description – What kind of business you are doing? Don’t feel shy of your business. Your attitude towards your business is very important to determine whether it can be successful. Keep your business description precise and people know exactly what your business does in 30 seconds.
2. Manpower – Is your business operated by yourself or you have your partners or other family members to operate together. It’s important to list down the duties of each person so that everyone know exactly what’s their job and responsibilities will be. If you are a mom running a home based business, normally you are on one man show and you need to do everything on your own. List down what is your priority tasks everyday to keep your work schedule on time.
3. Operations – List your business operations as details as possible. How is your business going to function and what will be your hours of operation? You need to know what is your financial goals and as well as fixed and variable expenses.
4. Products or services – After you have chosen the type of business, it’s your time to choose what kind of products or services to sell. You just want to concentrate on one product or multiple products? You might also need to consider the mode of payment.
5. Sales and marketing – You need to clearly understand your niche market and plan on how to reach your target market. If you are thinking that you only blogging for profit and not selling anything, let me remind you again your business form is “information website” and you are selling information and generate income from the selling of advertising space. In order to get a good price for your advertising space, you need to know how to market your website.
6. Funds – How much funds you have to start your business and how much you are willing to spend on your business, tools and education monthly. Set your budget so that you know where your money goes.
Business and marketing plans could be revised from time to time and when your business grows. It’s good to revise every three months or six months and always use your business plan to keep your business on track.
Filed under Getting Started