Sunday, August 21, 2011

Making Crafting Profitable - Part 2

In part 2 we'll discuss your business plan.  What? you ask, no talks about business names, licences, what to sell or where to sell.  Nope.  Before you can start on those you really need a business plan.  Just a simple bare bones plan will do to start.  You can add detail later as your business grows and expands, or needs and desires take on new directions. (trust me my business plan is very different from the plan I started with way back when)

To start you want to state who you are.  Basically your name, and how you see yourself.

ex:   Jane Smith
A talented fiber artist.

Then you need to state your mission statement.  Or why your business exists (or should exist)

ex:  I am in business to provide quality hand crafted items to the general public, and support myself and my family.

Next, where will you being conducting this business, online, through craft shows, out of your home, at local farmer's markets, out of a brick and mortar store front, or some combination these.

ex:  I will selling my crafts physically at local craft shows, and online through various craft websites.

Finally your goals for your business

ex:  I plan to create and sell enough hand crafts to supplement my current income, and eventually to allow me to quit my job and devote myself to my crafts business full time.

As I said this is just the bare bones of a business plan.  There are several good books on the market, most of which should be available through your local libraries, that can walk you through a more detailed business plan.  Keep in mind, with the exception of your name, none of these are set in stone.  They can, and most probably will change over time.  I myself revisit my business plan on an annual basis.  Sometimes there are minor changes, sometimes major changes, but there are always changes.

Next time coming up with a name

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