Business Planning for Dummies - and Smarties too!

What is really convenient is that as I set out to start my own business, all of my MBA class material on entrepreneurship, innovation, strategy, marketing, and, well, everything else - is in storage. In Massachusetts. Which is just not hugely convenient for me right now, as I live in New York. And am starting a business, like, yesterday.

But no worries! The internet is a great thing. Who needs to pay for an MBA when Google can tell you how to write a business plan? Not me! Oh wait.

AnyWay, after minimal Googling I came across a really useful website that provides free business plan templates. Is this content as dynamic as what I learned in business school? No (phew!). Is it enough for me to get the ball rolling on my Work Work right now? Absolutely.

But first: why is a business plan important? AnyWay Weddings is not exactly the next Microsoft, after all. Why should I spend time writing this document when I could instead be browsing bridal bouquets or attempting my first inspiration board or booking my next bride?

While it may be a pain to write, this plan is going to be my professional backbone. It will keep me motivated, keep me honest, keep me focused, keep me working as hard as any good entrepreneur should.

The basic elements of a business plan - and how I'll interpret them for AWW - are as follows:

1. Executive summary, including your company's mission, objectives, and keys to success
In other words, why are you here, what are you up to, and how on earth are you going to make some moolah?

2. Company summary
What the heck is AnyWay Weddings all about, AnyWay?

3. Services 
What I'm going to offer that will make the world a better place... and, more importantly, my brides' lives easier. I'm excited to nail this one down because this is where it's important to differentiate myself.

4. Market Analysis Summary
Um, fabulous but saturated perhaps?

5. Strategy and Implementation Summary
How I'm going to go what I'm here to do.

6. Management Summary 
Me, myself, and I. At least for now.  

7. Financial Plan
EEK! Numbers and math and graphs, oh my! Though frankly, since I'm starting my business on this:

(that's a shoestring, people)

I won't need to do too much number crunching yet.

 

And there you have it! Bride Adviser Business Planning 101.

Are you an entrepreneur in the wedding world? Has your business plan been put to good use? I'd love to hear from you!

Cheers,