Business Plan

Publié le 7 January 2010 par Andre | Catégories : News

The Importance of a Business Plan

Creating a Business Plan

We often hear about great successes that were created with scribbled notes on paper napkins.

What we don’t necessarily hear, is the way the project became reality. It almost certainly started with a great Business Plan which included the project details, the entrepreneur’s vision, his prospected clientele, the marketing strategies that will be used and let’s not forget the financial predictions to reassure investor’s.

I remember my first Business Plan: Nil. My first associate and I decided to start the company after we visited a Photo Lab!

I can tell you, first hand, that the first years of the business were extremely difficult and many times we came very very close to shutting down. If we had known about building a Business plan, we could have saved ourselves so much money, frustration and heartache, not to mention STRESS. Eventually, we did create one; we absolutely needed it to grow our studio.

That’s why, today, I strongly suggest taking the time to create a good business plan. I believe in it so much that I propose to help you with ideas on what to put in the plan, how to present it to different institutions and how to make it profitable.

Reason for a Business Plan:

First of all, a business plan helps you to reflect on your future objectives and how you wish to serve your community and your clients, what distinguishes you from the other photographers in your city.

This means, what is your specialty, what market are you targeting, what type of clientele are you looking for, what product are you offering and at what price? What marketing strategy are you using and where are you going to locate your business?

Utility: As I said earlier, once the business plan is well established, you will be able to see whether it is viable or not. If it is, you will be much more motivated to continue your research and you will be very convincing when you present it to eventual investors (Bank or Private)

What to include:

Project Description	Your Mission	Your Vision
Your Specialty	Your Market	The needs of your Market
Where to perform	Your potential clientele	Their needs
How to reach them	Sales strategies	Customer Service
Estimated Sales for over 5 yrs	Financial Structure (Accounting)	Financial needs
Employee requirement	Payroll Organization	Suppliers

Once these important details are put together, if the conclusions are favorable, you are ready to start putting everything into place.

Going into business is a dream that can become a reality, if well prepared, if not it can become a nightmare. According to statistics the photography business is not a favorable one, the more reason to prepare adequately to be able to have the extra tools for success.

If you would like a business plan template already prepared, click on the link below and fill out the form.

Have fun!!

Business Plan

So you want to draft your Business Plan!
1. Do you want to impress your investors (bank manager)? (banquiers)!
2. Are you looking for an easy template to fill for a quick business plan?

No need to look further.

This Word document was created specifically to help you fill in your very own business plan while giving it a “professional look”. As you know, it has a lot to do with the way you present your project.

Simply follow the directions and you’ll save hours of research and creating a good layout.

Advice: Re read your plan at least 3 times to avoid any mistakes and typos.

A well structured business plan will be a sign of how serious you are in creating a successful studio. It will definitely be a step towards a great launch. Invest yourself in the planning process; the whole project will become clearer in your mind and you’ll have a road map to follow.

Have fun.