Wise Woman Shining » business plan

Does Social Networking Belong in Your Business Plan?

caseydawes — Thu, 28 Jan 2010 15:05:01 +0000

Over the past month, I’ve noticed that many women entrepreneurs are writing about doing their business plans. Bravo! If you want a strong, successful business, having a living business plan is very important!

Living Business Plan

What’s a living business plan? It’s a plan that you actually, use, update, get coffee on, thumb through and scribble all over. It needs to change as the world changes.

As I wrote in an earlier post, 2010 is going to be the year of social media marketing. It’s a significant trend and one we have to pay attention to. When preparing your marketing section of your business plan for 2010, women business owners need to make sure that they are setting tactical objectives for their social media marketing efforts. There are three significant points that need to be made about social media marketing:

Social media marketing objectives should tie to your marketing plan and your overall business objectives
Social media marketing should fallow a plan, not be hit-or-miss
Social media objectives should be measurable and measured

More and more I’m hearing a discussion about measuring social media. That means that marketing experts have begun to pay serious attention to the space and that some serious tools for measurement will be coming out in the next year or so. These tools will not be for the faint-hearted–a quick look at a list of Twitter Tools from Mashable will give you an idea of the serious geekiness of these tools!

Business Plans and Money

Along with reviewing your business initiatives and past financials, the entrepreneur woman needs to plan business expenses for the following year. If you are seriously thinking of launching social media campaigns, you will probably need to get some help. Since the field is new, there are going to be many newly forged experts out there. This isn’t a bad thing, everyone is figuring it out as they go…just as they’ve been doing for the past 40 years of technological advances!

Budgeting money for the expense is important. Even though the economy is still shaky, it’s important to budget for marketing. A good social media plan isn’t free, neither are the measurements required to actually get the return on investment you want!

Comments about social media marketing in your business plan? Leave them below!

The Business Budget for Women Entrepreneurs

caseydawes — Thu, 14 Jan 2010 18:32:17 +0000

Starting off the new year means creating a foundation of reality and adding dollop of good intentions!

One of the pieces of the foundation is your business budget. Most women business owners hate making a budget! They automatically think in terms of restrictions…a budget is your money on a diet. And whatever we’ve learned in the last few years, most of us are aware that our money needs to be on a diet!

However, a budget also represents possibility and good intentions. We are saying to ourselves, “I’m going to be a good steward of my money this year.” You intend to do what it takes to have more come in, keep more of what you earn and, when you spend, spend with intention. Money is energy–power if you will.

So what’s in a good budget?

Projected gross income–what you think your business will earn.
Cost of goods (if you sell products) or cost of subcontractors (if you sell services)
Subtract cost of goods/subcontractors from gross income and you get Net Income Before Expenses
Projected expenses such as: travel expense, auto, marketing expense, location expenses (rent, etc.), employee expenses, professional services such as bookkeepers and accountants, etc.
Subtract expenses from Net Income Before Expenses and you have Net Income After Expenses.
Estimate of your taxes
Estimate of any other types of income such as rents paid to you, royalties from books, music, etc.
Subtract taxes and add other income from your Net Income After Expenses and you get to Net Income.

Net Income is what you get to:

Take Home
Re-invest in your business
Save
Give away
Use to create a better world

Any questions on budgets? Why do you do them? Or not do them as the case may be?

Business Planning

caseydawes — Sun, 25 Jan 2009 18:15:33 +0000

It’s Sunday. I’m working…something I said I would avoid. However, here I am. And yet, it’s o.k. Sometimes, in some economies, you need to work a little harder. At harvest time, the winegrowers, like other farmers, work until the harvest is in. It might rain or the sugar in the grapes might get too high. They work day and night, regardless of the day of week, to get it done.

And so it is with a small business. Women entrepreneurs, like others, must sometimes put aside the other million things that they have to do on their plate, and concentrate on work. But weekend work can have a different flavor.

My favorite use of this time is to plan and get ready for the week. It reminds me of getting ready for school when I was (much) younger. Making sure clothes were cleaned and pressed, shoes were shined. Spending extra time on my hair and finishing up homework. There are small comforts in routines, especially routines that prepare you for the week ahead.

So I make sure that my calendars are up to date, clothes are clean and that I have laid out my work for the week. I look at long term plans and make sure that the tasks on my to-do list include steps towards these major business goals.

Casey Dawes at Mendocino Art & Wine Festival

And, I never work too long on my computer. I make sure I have time to quilt and putter around the house. Perhaps I’ll deadhead the roses, or take a walk in Capitola with my husband. Something that honors the life around me, not only the intention of business.

This is the most important thing that women entrepreneurs bring to business. Men are very good at compartmentalizing. We are not. We understand, at the deepest, most intuitive level, that all things are connected. There is a rhythm to what we do, a rhythm that follows the pull of the moon and the spinning of the earth.

Connect your business to your life. So, even if you are working today like I am, re-connect your life and

business to the world around you. Get your hands in the earth, back some bread or smell the sweetness of a small child.

You and your business will prosper because of it.

Are You a Woman Entrepreneur Who Would Like More Money in 2009?

caseydawes — Sun, 11 Jan 2009 00:23:47 +0000

The recession word can bring up a great deal of fear for small business owners. As a small business coach, I am seeing some concern with my clients and colleagues. But I have to tell you, I’m also seeing a lot of energy.

Business Plans

A lot of the energy is coming from women entrepreneurs sitting down and planning. As women, we tend to do many things intuitively. This works well most of the time and in most economies. But when the perfect storm of the last year’s economic woes occurs, it’s tough to touch base with intuition. Everything seems off kilter.

You know when you are upset about something it’s much easier to clean house? Anger gets a lot of things done as a way to burn it off. That’s some of what can happen in your business life. Sitting down and making a marketing plan, getting your budget under control and actually developing a business plan with goals and strategies can go a long way to making you feel better.

Boost Business Income

Just to help you along, I’m offering a free class to help you make more money this year. Learn more about the Boost Business Income Preview class. It really is free. And, even if you can’t attend live, I’ll make the recording available to you.

It’s a win-win!