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Oct
26

How to Write a Business Plan for Your Brand

By

Dana Susan Beasley, Branding for Success bloggerWriting from the heartThe New Year is an excellent time to make a business plan for your home business. If you want to succeed in branding, writing a business plan is essential!

If you already have a business plan, now is a great time to update it.

Why create a business plan? Because if you don’t have some measurable goals, how do you know what to aim for? As the Bible says, without vision, people perish.

And without a plan, your business could fail!

So if you want to take your business seriously and really experience branding success, here are seven must-have items in your business plan to skyrocket your revenue!

1) Mission, Vision, Goals

If you are going to succeed in your home business, you need to understand why you exist. Having clarity on this one issue will help you grow more and more, as a business owner and as a person.

Your vision is where you want to be in the future, what you want to accomplish through your mission. This takes imagination and wisdom.

Goals need to be measurable and time-based, specific and directly related to your mission and vision.

2) USP

Your Unique Selling Proposition is what makes you stand out above the competition. It’s the reason why your customers will be drawn to you rather than another company. It’s your particular strength that you do better than anyone else out there. USPs are often used for slogans and taglines.

For instance, when my husband was planning his architectural business, we came up with the slogan, “Safeguarding lives through strong and robust building design.” This is based on his unique strength of designing quality buildings made from reinforced concrete, not studs.

3) Marketing Objectives/Analysis

You need to understand what problems your market has and what solutions you offer. You need to know who your target market is and where they are. You also need to strategize on how you are going to reach them. These objectives and analysis can be fleshed out in greater detail in a marketing plan.

4) Competition

It’s important to understand who your competition is, both directly and indirectly. You need to understand how saturated your market is. If it is saturated, how are you going to provide a needed product or service that people want and desire, and are in fact desperate for? What is different about you that people want to purchase through you?

Let me give you another example: I have a client in the essential oil business. Now, as of late I have noticed that oils are a very popular business. Many work at home moms especially are selling these. But my client found a passion of hers related to the oils to help a specific target market. That is how she is branding herself. That is how she is distinguishing herself above the competition. As she works out her plan, she is tremendously excited and motivated. Her business holds much promise and I know that her team is growing.

5) Financial Projections

You will want to do cash flow projections, revenue and sales projects, expenses, etc. If you are looking for investors, this is especially important.

Microsoft Office and other word processing programs offer business plan templates which includes financial projections. Rather than reinventing the wheel, it is time-saving to avail yourself of these resources.

6) History

You need to describe the background of your company. Why did you start it? When? If you have been in business for awhile, how has it grown?

7) Products/Services

You will want to list your products and/or services. What are you going to offer? What will you start with immediately? What are the prices and what are the costs involved?

Jesus said that a wise man counts the cost before he builds. Preparing a business plan is like that. If you are truly wanting to succeed in branding, then this is a task well worth completing to the best of your ability. Then you will have a successful home business!

ABOUT THE AUTHOR: Dana Susan Beasley, the creator of an online training program called Brand Identity Quest, helps Christian families create sizzling brands so they can build dazzling futures. A graphic artist, writer, and homeschooling mom to a special needs son, she is the owner of AngelArts, an arts agency and publishing house. It’s purpose is to inspire audiences to reach for new heights in their lives and beyond through excellently-designed publications and products using original art and literature. To take her free mini-course, 5 Steps to a Wildly Successful Home Business, click here to start now.

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