A Business Plan for Creatives

So many artists tend to think with the right side of their brain.  That’s why when it comes to the business side of what we do, many struggle.  Creatives, typically, put off categorizing their expenses, wait till April 15th to file their taxes, or struggle to stay organized.  Those who think with the right side, however, tend to me more creative, free-spirited, and go with the flow kind of people.

If you’re a right side brain creative, I have something for you!  Today I’m sharing a business plan template.  Business plans are just that, plans for the year.  They detail what you plan to accomplish, your financial outlook, where your business from the previous year came from, and a timeline of when you’ll complete goals you wrote out at the beginning of the year.

I wrote my first ever business plan in 2015.  When I started my business late 2010, and it took five years for me to draft my first plan.  In the spring of 2015, I became a student of the International Academy of Wedding Photographers.  One of my assignments for the business class was to create a business plan.  The assignment may have been time-consuming, but it was helpful to see where my business was and the direction that it was going to take.

When I look back on that first business plan, I’m amazed how my business has grown in 18 months.  Every December now I take the time to write out a new plan for the upcoming year.  For me, it’s a fun way to look back and see how far I’ve come.  It’s also an excellent way to challenge myself to strive for bigger and better in my business.

Elements of a Business Plan

As you’ll see in the template, a business plan starts with the Vision.  What is your mission statement, your goals, target market, SWOTs, roles in your business, and ways you could outsource in your business?

After the vision is your goals for the new year.  The template has my 2015 goals, so your business plan will break down your 2017 goals.  You’ll take the time to think about the income you want to make in the year.  Next will be the year’s projection.  What if you made more than your income goal?  How many shoots/weddings would you have to book to meet a bigger goal?  Remember friends; it NEVER hurts to swing for the fences!  Now and then, you’ll hit a homerun.  And home runs are GOOD!  They’re even great when you have the proper workflows in place!

You’re then going to examine some elements of 2016.  How did your clients find you?  Are you keeping track of your referrals?  Keeping track of referrals allows you to plan your marketing strategy more efficiently.

Deciding how you’re going to budget for the year follows.  Planning ahead in business is crucial to its success.  There will be years where you have significant investments.  Planning ahead for this important investments will give you a sense of relief knowing you can offer that purchase.

I ALWAYS plan for education.  As a former high school teacher, continuing education is imperative.  I like to list out the education that I want to attend.  Once listed, I can adjust my yearly budget accordingly.

Client service plan, marketing focus, and work/life balance will wrap out the outlook for your year.

The final element to the business plan is the timeline you plan on accomplishing the goals you wrote down.

Grab Your Own Business Plan Template

I’m so excited to provide you a template for YOU to use!  Click this link to receive your very own Business Plan Template in your email box!

I hope you find the business plan template to be helpful!  If you are struggling with something in your business, shoot me an email and tell me what it is!  I’ll be sure to add it to my blogging calendar and walk you through some action steps.

If you would like to read other education for Business Creatives, click here!