A presentation at WordCamp US in in St. Louis, MO, USA by Francesca Marano
How to Create Your First Business Plan Francesca Marano #WCUS
Ciao! Sono Francesca WordPress Community Manager at SiteGround @FrancescaMarano
What is a business plan? @FrancescaMarano
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals. Wikipedia
Plain language A way to find clarity amongst all the wonderful ideas you have A document to write those ideas instead of keeping them in your head A map to help you navigate even through the dark @FrancescaMarano
Agenda Work together on some the most important elements of a business plan for our colleague Emma Get pumped about working on your business plan @FrancescaMarano
Emma = WordPress Pro Jack = Business Pro Creative Agency @FrancescaMarano
Emma = WordPress Pro @FrancescaMarano
Тhe business plan answers: What am I doing? What do I expect to get out of it? How can I get it? What could fail? @FrancescaMarano
Elements of a Business Plan Product Definition Target Client Definition Industry analysis Market Analysis and offer Financials @FrancescaMarano
Exercise 1 What is Emma’s product? @FrancescaMarano
What is Emma’s product? @FrancescaMarano
Exercise 2 Who is Emma’s client? @FrancescaMarano
What is Emma’s Target Client? @FrancescaMarano
Exercise 3 What does the industry look like? @FrancescaMarano
Porter’s 5 Forces Bargaining Power of Buyers Threat of New Entrance Competition Bargaining Power of Suppliers Threat of Substitutes
Exercise: 3 - 20 min Porter’s 5 Forces on WordPress Industry Power of Suppliers Power of Buyers Threat of New Entrants Threat of Substitutes Competitive Environment
Exercise 4 What are Emma’s values? @FrancescaMarano
Authenticity Achievement Adventure Authority Autonomy Balance Beauty Boldness Compassion Challenge Community Competency Contribution Creativity Curiosity Determination Fairness Faith Fame Friendships Fun Growth Happiness Honesty Humor Influence Inner Harmony Justice Kindness Knowledge Leadership Learning Love Loyalty Meaningful Work Openness Optimism Peace Pleasure Poise Popularity Recognition Reputation Respect Responsibility Security Self-Respect Service Spirituality Stability Success Status Trustworthiness Wealth Wisdom And the list goes on!
What are Emma’s values? @FrancescaMarano
Exercise 5 What is Emma’s offer and how does she communicate it? @FrancescaMarano
The 4 Ps of Marketing Product Place Offer Price Promotion
Exercise 5 - 20 min The 4 Ps of Marketing Product Place Promotion Price
Budget @FrancescaMarano
Financial Management Balance Sheet Income Statement Monthly Cash Flow Projection @FrancescaMarano
Let’s continue the conversation Francesca Marano francesca.marano@siteground.com Where to find me next: WordCamp US SiteGround Booth, Hallways, Contributor Day Online Twitter: @FrancescaMarano Slack: francina In Person Probably a WordCamp near you WCEU for sure
When I started my business in 2011, I didn’t think I needed a business plan. I only needed clients, tons of clients. Even though my title was Web Designer, I took every job that came my way. I made WordPress websites, of course, but also did graphic design, print design, social media management, training — basically anything! In less than eight months, I had to go back to work as an employee because I managed to spend way more money than I earned. I kept freelancing on the side with no direction whatsoever and finally, I realised that I needed a plan.
It doesn’t matter what your financial goal is for the year or your mission for your small business. Having measurable goals and a clear strategy will allow you to do what you love and make a living out of it.
In this workshop I will go over the basic sections of a business plan and show you some examples of how you can make one that represents you and your business.
for free. You
can too.