Writing a Business Plan for your Keepsake Business

Writing a Business Plan for your Keepsake Business

Author : Michelle Williams

Business Planning

If you are right at the early stages of considering starting a Baby Hand Casting Business or Fingerprint Jewellery Business, or maybe you have just completed your Baby Life Casting Training or Keepsake Jewellery Training and you're not sure where to start,  I suggest you devote some time to thinking about and writing a Business Plan for your new Keepsake Business.

Business Planning is vital to the growth and success of any business, yet I’m constantly surprised by the number of Keepsake Business Owners, who shy away from writing a Business Plan, because they consider the task to be too confusing or time consuming.
In fact, quite often, I speak to people who have been in Business for years, who tell me that they have never writen a Business Plan, because they have never needed any external funding or finance.   But this is a huge mistake.  

Every Business Owner should write a Business Plan, whether they require funding or not.  This is because Business Planning, is all about creating your destiny.  It provides you with a clear vision and roadmap of where you want to go and how you’re going to get there.

The simple truth is, that running a Keepake Business without a plan or any clear goals, is a little bit like going on a road-trip to somewhere you’ve never been before, without a map!  How are you going to get to where you want to go, if you have no map or any plan of how to get there? 

Why you should write a Business Plan for your Keepsake Business?

It is vitally important that you take the time to write a Business Plan for your Baby Life Casting Business or Keepsake Jewellery Business, because, it:

  • Provides you with a clear vision and map of where you want to go and how to get there.
  • It is mandatory if you require funding or wish to apply for a grant.
  • Provides a road-map for your future growth and development, helping you to stay on track.


Even if you don’t require any funding or financial assistance to help start your Baby Hand Casting Business or Fingerprint Jewellery Business, I strongly recommend that you write a Business Plan to help focus your mind and ensure that you have clear goals to aim for. Once you have written your Business Plan, you should review it quaterly, to re-focus and adapt your Marketing Plans accordingly.

How do I write a Business Plan for my Keepsake Business?

Most of the major Banks provide templates on-line to assist you with writing a Business Plan. You can also download Business Plan Templates from The Business Support Helpline.  However, I have also created my own  Business Plan Templates and Sales & Cashflow Forecast Templates taylored to the Keepsake Business Sector, which you can gain access to and receive guidance and training on how to use the templates and write your business Plan on my  Business Planning Masterclass. 

What are the 5 Parts of a Business Plan?

There is no standard format to writing a Business Plan, but most Business Plans include:

  • An Executive Summary - highlighting the main points, including contact information.
  • Details of Key Personnel - including a biography, with details of relevant experience.
  • Market Research – details of competitors and how your products and service fit into the market, who your potential customers are, your key differentiators and why you think customers will buy from you.
  • Your Marketing Plan – how you are going to get your product or service in front of potential customers, together with any assumptions made when setting your targets.
  • Financial Information – including Sales Forecasts, Cash-flow Statements and Profit & Loss.

If you are a new Keepsake Business Owner, I appreciate that this may sound very daunting to you. That is why I have created a Business Planning Masterclass to help make it as easy as possible for all of my Craft Ecademy Students and Guild Members. My Business Planning Masterclass will take you through each and every stage of writing a Business Plan, including market research, pricing, formulating your marketing plans and creating your financial forecasts. The course also includes intuitive, easy to use Business Plan Templates and Sales and Cashflow Forecast Spreadsheets, for you to work through and complete, in order to make it as easy as possible for you to write your business plan and create your financial forecasts.

I hope that this article has been helpful to you in unnderstanding the importance of Business Planning and why you should write a Business Plan for your Keepsake Business.

If you are new to starting a Baby Casting Business or Fingerprint Jewellery Business and you need a little extra help in starting and developing your Business, I have over 20 years Business and Marketing experience in the Life Casting and Keepsake Business Sector, which I'd love to share with you.

Apart from offering a market leading series of Life Casting Courses and Keepsake Jewellery Courses, I also offer a growing collection of Business and Marketing e-courses, designed to help you with each stage of starting, launching and growing your Keepsake Business. I also offer a range of "Done for you' Marketing Services", to help with building your Brand Identity and Website.

I hope that this information is of value to you, but if you have any further questions, please message me and I'll be happy to help!

If you are right at the begining of your journey of considering starting a Baby Life Casting Business or Keepsake Jewellery Business, check out the additional links and resources below and register for my FREE Mini Course on "How to Start your own Creative Home Business."

Links

http://go.thecraftecademy.co.uk/creative-home-business

http://go.thecraftecademy.co.uk/timeandfreedom