Johnson 1 Writing a Business Plan Who needs a business plan?

As the name implies, anyone going into business needs one, and that includinges freelancer editors. My previous mental picture of a business plan was of a couple of stodgy-looking, potbellied bankers looking through a one-hundred page stack of papers, thinking of how absolutely boring their job is . Theyre and wanting to send their secretary out for donuts whilst trying to decide whether or not to finance the business in question based on the said business plan. Awful sounding? I think yes. Fortunately, a freelancers business plan doesnt have to be like this. It doesnt have to be made to convince investors; it can be more of an internal compass for the business (Kenney). The important thing in a freelancers business plan is not the level of fanciness or formality, but actually having one with all the important elements to guide business decisions. On first consideration it would seem that freelancers wouldnt need to develop a business plan. As sole proprietors, it would seem they could meander along however they wished. A freelancer can do this, but commencing on an adventure without clear goals is mind is like stabbing a piece of clay with a toothpick and hoping for art; it mightay work, but its not real likely. Successful businesses take planning, and having a business plan before starting the venture increases the chances of business success by a large margin for several reasons. First, in a business plan,, freelancers put down on paper their goals, how they are going to accomplish their goalsm, and what obstacles they may face down on paper. This goal setting forces freelancers to decide exactly where they are going. Since kindergarten weve all been nagged about how writing down goals makes them us more likely to be accomplish themed, and the same principle applies to business goals. Along with the goals, a good business plan contains strategies for accomplishing these goals and for overcoming potential problems. Its helpful for
Commented [CS1]: Haha! :) It is a bit long though, and the reader might get lost halfway through. Formatted: Centered

Johnson 2 all business owners to determine how far they are willing to go and where the line is that they will not cross. As they do this, they have the opportunity to make sure those impacted by these determinations (business partners, family, and other dependents) are all right with the decisions too. This kind of forward thinking gives stability and depth to a business. Surprises are only good if they include free tickets to the Bahamas, an ice cream cake, or fifty dollars found under your bed while looking for your tennis racket. Business surprises, on the other hand, are typically not fun. Its best to anticipate rainy days and problematic issues in a business. This may seem like borrowing trouble, but planning for the future is the way to make business dreams into reality without going crazy in the process. Crazy ideas are greatwhen they are financially viable. Business plans help to see if the planned business will give the wanted financial rewards and lifestyle. If a business idea is doomed to financial failure, its nice to know in the paper-planning stage and not in the in-debtand-starving stage. We now know why a freelancer would want a business plan, so now its time to jump to the important elements of the plan. In a bare- bones plan, (which is all a freelancer really needs) (Kenney), there are three main questions that need to be answered.: What is the business concept? What is the marketing plan? How will this business do financially (Your Business Plan Guide)? These three main questions can be broken down into smaller, more manageable sections. In essence, a freelancers business plan is a more formal way to ask a series of business questions and make sure there are solid answers. First, a business plan needs a concrete idea of what the businessy are is all about. What is the main concept? The more specific the better. Its not enough to say Im an editor. I will edit.
Commented [CS3]: It kind of sounds like this ties into the last passage because they both have the word crazy, but it actually doesnt tie in because its a different idea. As it is, the crazy ideas seems random and disconnected from the rest of the paper. Commented [CS2]: Im not sure what this sentence means. How far they are going to go in what? Advertising? Customer relations? Discounts? And what is meant by the line? Please elaborate.

Johnson 3 We must be more focused and specific, such as discussing what types of written materials well edit and what type of editing well do.. Once we know what we are selling, we need to figure out how we will deliver such a service. This is the time for brainstorming on the daily operations of the business. How will things work? How will I communicate with people I work with? What kind of supplies will I need to run my business? Where do I get them? How will my business impact my lifestyle? Focusing on how my lifestyle will be affected by my work is something I want to make sure to incorporate iIn my business plan. I want to make sure to focus on how my lifestyle will be affected by my work. Theres no point to being successful in a business venture that turns my life into something I hate. In my plan Ill address my business standardswhat I will and wont do, the hours Ill work, and how Ill interact with clients. Also, Ill outline the vacations Ill take, the type of house I eventually want to live in, and what the kinds of hobbies Ill pursue, and then Ill determine how my business needs to function to have my dream lifestyle, which takes us on to the last two sections of the business plan. The first of these sections can be summarized in this question: What is the marketing plan? This question can also be broken down into a series of smaller questions. Whom do I want to work with in my business? What is my target market? What type of clients will I have? How will I reach them? How many clients can I expect to have in the first year? In themy fifth? What if that doesnt happen? Can I reach my clients using social media? What services are my competitors offering? How will I edge out the competition? Social media and online marketing will be a focus Iin my own business plan I want to focus on how I will use social media and online marketing. Its easy to waste a lot of valuable time online promoting yourself without anybody who counts really caring. I want to vigorously
Commented [CS6]: Edited for old-new. Commented [CS5]: Citation? Commented [CS4]: Edited for cohesion (oldnew).

Johnson 4 focus my online marketing program. I want to find out where my time and money will make the biggest impact. because I figure its better to go big in a few areas than to spread myself too thin whileand covering all the online possibilities. Regardless of what I find to be the most effective way to market online, I want to my business plan to have a section about my businesss website. Out in the big, bad Wworld Wwide Wweb, there are some websites that make the difficult task of looking at blue letters on a red background seem like a walk in the park. In my business plan I want to specifically address the organization, layout, and design of my website so it wont be just another one of those terriblydone sites. Having a professional- looking and functional website is important to me, and Im willing to make it a larger part of my budget to get a quality site. Budgeting brings us to the next major question: How will the business do financially? Now is the time for crunching numbers. What is my estimated gross income for the first year? What do I want to be making in five years? How do I reach this level of income? What will my prices be? How do I collect my fees? What kind of equipment will I need? How often will it need to be replaced? How will I deal with unexpected expenses? Is my business model financially feasible? Budget is Oone thing I want to address in my plan is my budget. Its easy to let little expenses pile up because theyas things that arent a big deal. In my business I want to be very precise about how much money is going in and out. I also want to be very particular about my equipment budget so that when its time for a new laptop or I have a printer crisis, its not huge deal to get things fixed up. Writing a business plan seems like a big task, but a business plan isits really just a way to make sure the answers to important business questions are really there and not simplyjust
Commented [CS12]: It referred to the business plan, but there is no business plan for it to refer back to (it was referring to writing the business plan). Commented [CS13]: Deleted really because it was used earlier in the sentence. (Or we could delete the first really and keep this second one.) Commented [CS14]: Again, just was said earlier in the sentence. Commented [CS11]: Edited for old-new. Commented [CS9]: I love how youre doing this (mentioning a word in the last paragraph and then using it in the next one) to tie the paragraphs together. :) Commented [CS10]: Citation? Commented [CS8]: Or we could say it some other way, but this sentence needs to relate back to the last one so the last one doesnt seem out of place. Commented [CS7]: Im not sure I understand the reference, but is this what you mean?

Johnson 5 floating around in the cerebrum with the overnight-millionaire dream. Asking only three main questions (What is the business concept? What is the marketing plan? How will this business do financially?) gets us well on our way to forming business plans that can solidify our goals, motivate us forward, and help us achieve success in both our businesses and lifestyles.

Johnson 6 Works Cited Kenny, Will. "Business Plans for Freelance Consultants." Entrepreneur. Entrepreneur, 9 Oct. 2012. Web. 28 Jan 2014. "Your Business Plan Guide." Entrepreneur. Entrepreneur. Web. 28 Jan. 2014.