#70 Do I Really need a business plan? With Nina Cooper

Oh the controversial business plan….

Have you written one yet?

… Why not?

I bet it goes a little something like this…

Taking the time to write a business plan…might feel like a time suck, too hard and or maybe you aren’t sure where to start.

When I started TMD, Inc., I wrote a 30 page business plan that took me 6 months to write and I never looked at it again!

That’s not to say that business plans should or should not be written and that’s why I invited our guest, Nina Cooper of Nina Designs.

She had a successful business for twenty years before she wrote her first business plan.

Twenty! Shocking, right?

Not really. So many designers, and not just newbies, wait way too long to make a business plan.

Nina tells us how her business plan was the best thing she’s ever done and why you should write one today.

It’s time to get enthusiastic about your business plan! No more resisting. You can do it.

And it can start with just one page….

Let’s hear what Nina has to say.

Click here to download the show notes

A Liberating Tool

When you don’t have a business plan, your jewelry biz just goes where the wind blows. It’s in reaction mode, affected by everything – and usually not in a good way.

A business plan will put your biz in proactive mode. Think of it as the ultimate tool for liberation. When there’s a clear direction to go in, your business can steer itself and you'll be free to focus on whatever you want.

Sounds pretty awesome, right?

A Liberating Tool

The first business plan I wrote was 35 pages long. The numbers were a mess, I didn’t know what they meant, and I never looked at it again. That’s not what I want you to do.

A business plan isn’t set in stone, so you can’t mess up! No matter what you add to your plan, you can always change it. It's meant to be flexible and mold with your business over time. It’s totally do-able.

Now that you’ve got that down, build on it. Numbers, goals, sales, marketing, you name it! Think of it as the ultimate to-do list.

Lofty and Bite Size Goals

I love to use my business plan to set lofty goals. Sometimes I make it; sometimes I don’t. Either way, it's ok. The important part is to have your goals planned out. That way, you know exactly where your biz is heading and how it’s getting there.

Nina also likes to set weekly goals so she and her team can stay on track. There is no right or wrong here. If it’s monthly goals that works for you, go for it.

So, you’ve listened to the podcast. How do you feel about making a business plan?

Better than you thought, right?

If you don’t have a business plan, we want to encourage you to write at least a 1-page plan for 2017!

So get to it!

xo, Tracy

Links
Episode #69 End of Year Planning w/ Robin Kramer
Episode #51 Your 5 Biggest Sales Roadblocks and How to Fix Them
The One Page Business Plan for the Creative Entrepreneur By Jim Horan
Traction: Get a Grip on Your Business By Gino Wickman

Sponsor: Nina Designs – Use code thrive to get $10 off your first order.

2 Comments

  1. Lauren Angelica Mirabal on December 6, 2016 at 6:04 pm

    Thank you for putting together this podcast! I have had a jewelry business going for 8 years now and still have not written out a true business plan. Will definitely get mine written for the year 2017!

    • Tracy Matthews on December 12, 2016 at 10:45 am

      YES! Go Lauren! That’s exactly what I want to hear. xo

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