“You can’t plan for the future success of your business if you don’t know where you want it to go”
It is a dream for craft makers to turn their hobby into a business but it is a dream come-true if they can make it successful. To do so, business planning should be accomplished beforehand if you want your business to succeed. It guides you every step of the way in a progressive manner.
Below are the business plan essentials for craft makers:
This is the most important starting point when starting your craft business. In your mind’s eye anything is possible. That’s why so many successful people say they like to visualise themselves achieving a goal. Olympians envision themselves completing a gold-media winning performance; business leaders imagine themselves closing a big deal; politicians picture themselves winning next election.
Can you actually see yourself enjoying your craft, and in the process, making a profit from it?
Reinforce visualization with positive self-talk. Don’t undermine yourself with negative “I can’t” thoughts. Think about the Law of Attraction: Positive thinking equals positive outcomes!
Research And Gathering Of Data
This phase is crucial as you have to answer many questions that you have in mind. What is your initial budget for the business? Who are you selling your crafts to? What you should do make your target audience choose your crafts over competitors? Where is the best venue to sell your crafts? Etc.
The answer to these questions should be backed up with market research to make your goals feasible.
Craft Products Branding
Marketing comes easy if you have safe and high quality products. Check if any of your products require patents or trademarks. Also, establish a stable and reliable source of your supplies, learn how to put a right price on your products, create labels for your product, choose a catchy name that defines your business, and ensure great customer service.
Once you have done your research and branded your products accordingly, the process of market strategizing begins. Think about how your potential customers are going to find out about your creations? You might want to consider advertisements, social media, joining local arts and crafts fair, etc.
Think about ways on how you can attract customers. Will you take the time to make high quality photos of your products? Look at building a competitive profile; learn SEO, building your online presence, etc.
You only have one shot to make a good impression so take time to review your business plan. If you can ask others for feedback or consult a professional.
Starting your own craft business is not easy but having a well laid business plan will guide you on the right path towards success.
Good luck and start planning, even if it’s just noted down in a pad for now write it down. Plans will never stick if you just keep them locked up in your head.