A Sewing Business Plan Is Very Important
Once you have made up your mind that you are going to start a home based sewing business, you may be at a loss as to where to start first. It is best to start with writing a business plan. Write a business plan “Oh no!” A business plan is a very important first step that will save you time and money in the long run. It is not hard to write and it doesn’t have to be a very complicated task. You may think oh, I can just figure out what I need to do in my mind and get started or you may see writing a business plan as a long and boring task.
Suggestions for how to write a business plan specific to a home based sewing business will be discussed in this article. It doesn’t have to be very long and detailed when you first start writing one, believe me, the details will work their way into the plan as time goes by.
When I first made up my mind that I was going to start a home based sewing business, I thought that I could get the business up and run in a couple of months. To my surprise, it took about a year to finally kick it off after the plans were made and I still have some minor kinks to iron out. However, I have to remember that I’m running this business on a part time basis at this time since I already work full time as a nurse.
Benefits of Writing a Business Plan
A well-written business plan can possibly benefit your sewing business in many ways:
A business plan is a sort of like the blueprint for your business, the basic operating structure of your business. For example, if an architect has not developed a good blueprint for the building he has designed, the structure will not be sound and can possibly fall. This is the same concept of having a well-developed business plan for your future business, it will make it a strong and credible business.
If you’re looking to finance your business in any way, chances are lending institutions or other companies that offer low-interest loans for small businesses will not lend to you if you do not have a business plan.
A well-developed business plan will attribute to the success of your company since you would have carefully planned out what you want to accomplish with your business, what kind of sewing services you plan to offer and what kind of items you will make.
Following a business plan will help you to be more organized and focused thus saving you many headaches down the road.
Set Goals for Your Sewing Business Plan
It’s good to start writing out a business plan by setting goals. There should be several long term goals which are then subdivided into short term goals. Make sure that the goals are realistic because if they aren’t you may become discouraged and tempted to give up. I’ll give two examples of both long term and short term goals.
For the first example your long term goal may be:
To Have a Home Based Sewing Business- then set a deadline, for instance, in one year.
O, K. now since you know that you want to accomplish having your own home based sewing business in one year, which is your first long term goal – write subdivisions with both long term and short term goals that will help you to accomplish this.
Your next goal could be:
Deciding on where the business will be operated in your home – then set a deadline, for instance, by 1 month.
A short term goal under this could be:
Listing the places in your home where the business could be operated – then set a deadline, for instance, in 7 days.
After you have your list of options by 7 days, you have three more weeks to make your choice. If by three weeks you haven’t made your choice of where the business will be operated in your home, just extend your deadline.
Here is the second example of both long term and short term goals:
Deciding on a name for the business (long term goal) – then set a deadline, for instance by 1 month.
A short term goal would be:
Writing a list of possible names for the business – then set a deadline, say, by two weeks,
After you have your list of possible business names by the two weeks, you then have two more weeks to make your final decisions. Then again if you need more time, just extend your deadline.
In my article “How to Start a Home Sewing Business” I list the basics of what should be done for the success of your business. You can use some of those basics as long term goals. You can find this article at the following link:
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Write as many goals as you need to accomplish starting your business. And remember to make sure that the goals are realistic and that you can always change your deadline if you need more time.
As the goals are attained, summarize the outcomes and continue to write goals with deadlines while your business is in operation. Following these simple steps can make your experience of starting a sewing business a very pleasant one. Before you know it you’ll be working from your own home doing something that you love.
One very important piece of advice is to take your time and be very patient. You’re probably excited about starting your own business and just can’t wait. By careful planning, patience and paying attention to detail, you will reap success instead of failure. Remember patience is a virtue!