Regardless of if your Etsy shop (or other online creative biz) is a creative outlet, a hobby, a part-time business on the side, or your full-fledged day job, you need a business plan. A business plan can help you hone in on what your shop represents, who your target market is, and what you want to get out of your business. Working on a simple business plan helps you both think seriously about your business and take it seriously. Your business has a higher chance of success if you have a business plan.
Spending some time thinking about your business and goals should be fun, not a challenge. Make your business work for you! Don’t be afraid; you can create a business plan that’s as informal or formal as you want.
I have degrees in both accounting and mass communication; that’s a lot of left brain and a lot of right brain. When creating my handmade jewelry shop on Etsy, Lazy Owl Boutique, I developed a business plan that worked best for me. It’s dynamic and simple. I need something that will make me think about the important stuff but not work too hard. Questions that I enjoy answering and thinking about. Based on the “5 W’s of Journalism”, my business plan has 6 W’s and 2 H’s. I’m sharing it here today in hopes that answering these questions will encourage you to get serious when starting your business.
These questions will help you get to know your products, your brand, and your purpose. You might be surprised at where the answers will lead you!
The above questions serve as a guide to get your business wheels turning. Over the next series of articles, we’ll discuss each of the W’s and H’s individually. This series of articles will include free downloadable and printable worksheets that you can fill out and keep in a binder as your very own business plan!
In the meantime, feel free to click here to download a pdf of the business plan questions.