Did you cringe?
Many people cringe at the mere mention of a business plan, especially if they prefer to live in their right-brain over their left-brain. Of course most of us use both sides of our brains — some appear to use neither side! — but we all resonate more with one side or the other. (See our previous blog, Right-Brain, Left-Brain.)
Business plans live in the left or logical side of our brains. For those who prefer to use right-brain skills, a business plan can seem daunting.
At S2 Seminars, we realized we could help right-brain thinkers if we could find a way to translate some of the business plan “code” into language more suitable to the way they think.
Drumroll please…. enter the S2 Seminars Honeycomb Business Plan Model!
The honeycomb is symbolic of the industrious bee, his propensity to work in teams, yet able to work independently, and his sweet, Return on Investment (ROI), honey! (No, I’m not getting fresh with you!)
The hexagon shapes in honeycombs fit together in a wide variety of configurations which are conducive to building a plan, especially if you don’t initially know the order your pieces need to be placed or how many you will need.
We recognized that 80% or more of the content in typical business plans is common to all plans. By starting with these common components, you can develop a plan that works for you. If others who need to see your plan require more components, simply add them on to what you developed for yourself. (For reasons to have a business plan, see our blog “Because You’re Worth It).”
Here are the most important components of a business plan.
Basics: Your company name, structure, address, phone, web site, social media, your business description and other introductory information.
Vision: Includes vision, mission and value statements. Why are you doing what you are doing and how will you do it?
Products: What are you selling – products, services or both?
Money: How much do you want to make? How much will you charge? What are your financial projections?
Markets: Who is your customer? Where is your customer? How will you reach your customer? How will you bond with your customer?
People: Who is on your team? What skills do you lack? Who can you hire or barter with for the gaps in your skills? Or, do you get training so you can fill the gap yourself?
Summary: The Executive Summary or overview of everything you’re planning. This is written after the rest of your plan but presented to potential business partners and financiers BEFORE the main plan to entice them to read more.
Writing a business plan is the first step in making a living from your art.
S2 Seminars is pleased to offer a two-day workshop for creative and performing artists called A Sweet Business Plan for Success. We will lead you through all these components in detail, helping you ferret out answers to important questions and flesh out a business plan that works for your goals, whether it’s simply to have a roadmap for business success or to secure funding.
At the end of the two days, you will have a business plan that’s 85 to 100% complete, (depending on its complexity, your ability to provide information and who needs to see it) so you can get on with making money from your art.
For more information, check out our events page.
S2 Seminars, Grow Exponentially – use both sides of your brain!, is a partnership between Shelley Goldbeck and Susan Cramer. To learn more about running your small business, contact us today.