Friday, September 21, 2007

Revenge of the Business Plan

I finished my initial business plan about a year ago, and decided to revisit it. I had very high expectations for my little company but needless to say, I didn't even come close to hitting my mark. Part of it was unrealistic sales goals, and a low budget for advertising. I tried a number of advertising ways when I first launched from google adwords to submissions to mom focused shopping blogs - did not get any sales. I have however gotten a bunch recently due to an editorial in a magazine. This is by far the best way to get your name out. It's hard as hell to get into one - unless you are paying for advertising in the magazine - but the payoff is huge.

I digress... I have signed up for a free business training course offered through a local bank and inconjunction with the Women's Business Center. I have high hopes that someone can help resurrect my business plan. I have also found a free online course too that will walk you through writing your business that's easy to understand. (Through SBA.) When I first did my business plan - I just put together numbers that made sense at the time - overhead costs as well as an advertising budget. This was all well and good, but it is useless if you don't revisit your plan on a regular basis. Later tonight I will start fleshing out my new plan with concrete numbers, research as well as goals for my business. It's a little daunting but it needs to be done. I can see Baby Starlet becoming a huge success with multiple spin off companies offering products from diaper bags to maternity as well as line of hip baby and kids clothes.

On an inspirational note, while watching the Emmy's this past Sunday, I heard Jamie Pressley's acceptance speech and loved the quote "the little engine that could". I can completely relate to this as I am as indie as it gets; a one woman show with two little kids to take care of at the same time. I know a lot of indie businesses may be in the same boat as me, but it's nice to give myself a pat on the back once in awhile. There is nothing wrong with a little pride, right? So watch out world, here I come with my ultra fabulous company complete with great business operational ideas to innovative products.

Well keep on pushing all you little engines that could.

BTW - even if you are small, it's always smart to have a plan for your company.

Rock On!


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