Back On the Band Wagon

The move to my new house is finished.  Of course, there are the usual things left to do, such as buying that new sofa, an entryway table, a comfortable chair for the family room.

But, for the moment, I have to wrap my head around this crochet business, again.

How to keep your business plan lean and efficient

So, to get me started, I have a series of questions to ask myself.

How much do I want to earn this month:  $50
How much do I want to earn every month (Or my goal):  $500
How will that be done?:  That is the question that must be answered.  Creating this blog, of course.  

• Listing items for sale on eBay, 
• Etsy, 
• Facebook page, 
• Driving more traffic to my blog and website, 
• Setting up the website.

How to drive traffic to my blog, THIS BLOG, is the next big question.  I am one blog in a sea of bloggers.

A part of this business, any business, is the BUSINESS PLAN.  I have started my plan, but put it on hold because of the job move and the dwelling move.  To review my plan, go to Make a Business Plan, Still in the Planning Stages, Marketing Plan: Step Two, I Have a Home, and Progress. I will be doing that over the next two or three days, just as a personal refresher.

Happy Crocheting!

Karen

Marketing Plan: Step One

In working on a business, one of the most important aspects is the marketing plan.  Figuring out your marketing strategy may take a few days or even weeks.

It is easy to ask, "Why do I need a marketing plan?"  The truth is, most consumers are lazy.  They depend on the entrepreneur to tell them what they want to buy and why.

Your marketing plan will include several sections.

The most important FIRST section is to find out who is buying your products.  Even if your product or service has world-wide appeal, you will need to focus on the segment of the population where the majority of what you offer will be sold.

In my case, selling at craft shows will probably not be an ideal market for me because the people going to those expect a bargain.  The market I am searching for is one that appreciates hand-made items and understanding the time it takes to make something.

Craft items are purchased primarily by women--whether it be an items for the home, baby and children's items, or accessories and clothing for themselves.

The next step is to decide WHERE to sell the articles.

Make a Business Plan

Planning is easy for me.  I do it all the time.  I make lists.  I make lists to tell me where my lists are located.  I plan.  I organize.  

The plan I am talking about, today, is a Business Plan for your Craft Business.

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.