Even if all you have is a small Etsy store, you have to plan how you are going to DO your business. No small business is too small for a business plan. Even if you simply take the time to jot down a few ideas, it will help you to stay focused on your business.
I found this list here, and I don't believe I can make a better one.
- Define your business goals and objectives
- Will help you to identify your target audience
- Enable you to identify the best business model for your business
- Assist with cash flow forecasting
- Enables you to better understand the business sector of your business
- Identify the skills needed to manage and operate your business
- Identify the technology needed to manage and grow your business
- Gain valuable information about your competitors
- Develop your marketing plan
- Identify and develop your branding strategy
At this stage of the game, you don't need a full blown formal business plan--the kind that is required if you are approaching investors or looking for a bank loan. What you do need is a list of ideas. Be honest about what you can actually accomplish by yourself in your one-woman enterprise, but don't sell yourself short, either.
Remember, a business plan can always be adjusted as circumstances change. Any plan you make is not chiseled in stone and is as close as a delete button. Be flexible.
If you start out making expensive Barbie Dresses, don't forget your objective is to make money, so include a few "bread and butter" items that can be produced quickly and sold quickly. You can change from making Victorian pot holders to socks at any time.
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