Whether you are evolving your personal business or you are just starting out with a brand new business idea, having a well thought out business plan is a crucial aspect of keeping your business organized and on track.
What is a business plan?
Your business plan consists of a set of statements that definite your mission, values and what your business is all about. It’s a good idea to include a detailed description of your products or services, a marketing plan and outline your goals including financial and plans for future growth in your business plan. This will help you set up a strong basis for how you will continue to run a successful business moving forward. Overall, your business plan acts as the foundational building blocks for how we execute our business and it evolves with us as we grow.
Other ways a business plan can help:
Having a clearly outlined set of business statements can help you tailor your language when it comes to marketing your product, creating awareness on social media and even just having a consistent story to tell about your brand whenever someone asks you what your business is all about.
It’s no surprise our potential clients are hanging out on multiple social media platforms. That’s why using similar (not verbatim) language throughout all of the platforms you choose to market your product and service on, helps to create trust from your potential clients. This is because hearing your messaging repeatedly starts to create a familiarity and it grabs their attention. Having consistency in marketing the value of your product or service across multiple platforms tells your potential client exactly what they will get out of their experience working with you. If they find inconsistencies in what they feel your product or service can do for them, or if the offer itself is unclear, it’s possible your potential client will feel a little unsure of whether or not they want to purchase your product or service.
How to make the most of your business plan:
I recommend having a document with your business statements written out to refer back to because it is incredibly valuable when it comes to creating consistent content for your brand. I like to include an executive summary, mission statement and values as the 3 most important components of my business statements.
If you are in the process of writing or starting to write your business plan, you may want to consider enrolling in my Boho Bailey Branding for Social Course. In this 4 week design/course/coaching hybrid, we will spend the entire first week taking a deep dive into writing your business statements and then work our way into defining your ideal audience and creating content that effectively sells your offer on social media.
If this sounds like you, apply now at baileymbain.com/bohobaileyapply and remember, applying does not equal commitment. 💖