Saturday, December 26, 2015

Creating A Business Plan

Many years ago when I was first beginning my college experience I took an introduction to business class. Throughout the course of the class we did a number of projects that involved acting as a start up company and the final exam was for each of our companies to create a business plan then present it to our teacher as though we were asking a venture capitalist for the start up capital to make our companies a reality.

I do not remember much of what we did in that class or even what company I was a part f but I do remember that when we presented our plan we received an A as well as a certificate stating that he would have invested in us if we had planned to move forward with our idea. I am now researching and doing my best to create a new business plan for my future as an author and hopefully someday that will be my only job.

I started by making a list of all of the aspects I have learned about and feel would be vital to incorporate into the plan such as having a website, specific financial goals and distribution channels as well as making sure I have a path laid out to reach each of these milestones. On top of simply making a list of goals and eventually the steps needed to reach them I also want to make sure it is a progressive plan of at least five years so that I can not only reach the initial stages of what I would deem success but also have points that I can modify if needed and continue to build on each and every year.

Once the business plan is created I will be focusing on another document that goes hand in hand which is the marketing strategy. Business plans touch on marketing and distribution but truthfully they are rarely in depth when it comes to this important part of growing a business. I have a degree in marketing so I am eager to utilize what I studied to help turn my goals into achievements. It should be a good test to see what I have retained, though for the parts I may have forgotten I found research materials on that as well.

Finally I have my list of projects because as a writer I can create a marketing strategy, I can draft a beautiful business plan however if I have to books to submit it is all just a waste. It should be an exciting and interesting year. Now I just have to get to work as soon as I make a good cup of coffee.

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