Crowdsourcers Personal investors family and friends Not all business plans are designed to raise capital. However, when the goal is to find investors or land a bank loan, writing a good business plan requires including the specific information the investor will need to make a good decision. The document must also be eye-catching and garner interest from the first paragraph or the document is likely to be rejected.
Here is our step-by-step outline to achieve your goals! Here is our break down of what your business plan should include.
What does your business do? This may seem obvious, but what does your business do? Are you going to sell prints or just digital images? Or maybe you want to do in-person sales, where you meet with your clients after a session and sell prints and products? These are all questions that will get you thinking about what exactly you want to specialize in.
Outline a mission statement! A mission statement is anywhere from a few words to a couple of sentences, all the way to a paragraph that describes your purpose as a business.
What types of services you offer, goals, and how you plan to connect with your market. This is how you plan to sell your business to your clients, so it should be well thought out and unique!
Just take a jab at it. What is your target market and where do they reside? Are they in your small town, or do you need to expand your marketing to surrounding areas? Who is your ideal customer and how would you describe them?
Seriously, write down a list of WHO they are. What is the competition like in your market?
In fact, how are you going to be different?! Define a sales strategy! So, WHAT are you going to sell, and how are you going to make that available to your clients? Are you using an online gallery delivery system like Pixieset or Shootproof? Are you going to make prints available through a professional printing lab, and if so, how much are you going to charge?
Build a team vision! But, unfortunately running a successful business is going to be a group effort. As you grow, you may need to employ the help of other photographers or professionals, such as accountants or lawyers especially if you decided to become a full blown LLC or S-Corp! Who is going to run the business with you?
What roles will be involved in day to day operation? Can you outsource some of the daily duties, like editing or book keeping? Forecast strengths and weaknesses.
This is vital to growth! The good part is, we also get to outline our strengths! How can you leverage that to grow your business? Set yourself apart in business! How are you going to be different to gain clients in your market? How do you bring your personality to your business?
What are you going to offer that no one in your area offers?About ORU. Oral Roberts University is a charismatic, inter-denominational Christian University employing a diverse + population in a wide variety of positions.
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