Freelancers Should Have a Business Plan and Marketing Plan

I just finished my business and marketing plans for my freelance writing business. It doesn’t go into the amount of detail that someone who is looking for funding might need, but it has enough that will keep me focused on the end goal: full-time freelance writing business.  Luckily, I had the business and marketing plans that I had for my first business, so I was able to reuse some parts.

Research is Vital

The most important part in creating a business plan is research.  I spent over a week researching my target market, my competitors, and the overall business.  Even if the business plan is just for you, I recommend that you take the time to see what is happening around you.  For me, I know that there is a surplus of Writers who are doing consulting-type work.  However, I also know that usually they are mainly in the fields of copywriting, blogging, and proposals.  The experience usually varies to just starting out to having a few years under their belt.  This type of information makes it easier for me to think about what makes me unique.

What Parts to Include

There are different sections that make up the business and marketing plan. Sometimes you can even include the marketing plan within the business plan as a section. However, I recommend that you reference the marketing plan, but keep it separate.

In the business plan, you should probably considering having the following sections:

1. Executive Summary – An overall view of your business plan
2. Company Information – This should include your name, location, business setup (i.e. LLC, sole proprietorship, S-corporation, etc.), and company milestones
   a. Services – What are your services?
3. Target Market – Who is your target market? Characteristics? Location? Buying patterns?
4. Competition – Who is your competition? analysis on them? What makes you unique?
5. Operations – Details on how you will run your business
6. Cost – Your startup costs and future ones
7. Long-Term Goals – What do you want to happen in the long run?

In the marketing plan, these are the sections you should consider:

1. Executive Summary - An overall view of your marketing plan
2. Target Market Needs – This can be copied from the business plan Target Market section
3. Marketing Strategy – How will you get your business to be known to your target market? The main strategies should be listed here.
4. Marketing Mix Service – Details on the main strategies

What Do I Do With Them?

Your freelance business plan and marketing plan will help keep you focus on achieving your dreams of becoming a full-time freelancer. There might be additional sections that you might have to add, depending on what you are doing, but these sections I referenced are enough to get you started. Don’t wait til tomorrow to start; do it today. /p>

Organization is Key When Freelancing

Organization is one of the most important parts of being a freelancer. If you do not have some sort of system, then you will never be able to be successful in your line of work. Unlike a company, you do not have different people handling different tidbits that makes the entire company run smoothly.  You are the CEO, Marketing Director, Technical Guru, and Financial Officer.  Therefore, you need to be on top of things to ensure that everything goes according to how you envisioned. 

Before I even tried to attract clients, I had a system in place. I developed a business plan and a marketing plan. A great book to read is Six-Week Start-Up: A Step-by-Step Program for Starting Your Business, Making Money, and Achieving Your Goals! by Rhonda Abrams.  She has developed a great guide that will have you up and running in no time. 

After those were in place, I developed a project plan using MS Project. It’s one of the best software applications that Microsoft offers. I haven’t been able to find one that provides me the functionality that MS Project has.   I use it for setting up projects for different IT consulting companies that I have worked for.  You can learn the basics in less than a day, so check it out. 

I added these to my Google Calendar.  I don’t know what I would do without it.  I use different calendars, so I can color code it.  Google Tasks are a great addition, so I can never miss a deadline.  I sync that with my Blackberry Calendar, so I can also have it on the go. 

You will also want to develop a database or spreadsheets to keep track of your clients (or potential ones).  If you can build a database for that, then I suggest you  use that because you can always find the information quicker than using numerous spreadsheets.  However, even spreadsheets are better than not having anything.

I’ve worked for companies that were disorganized and it was stressful for everyone involved, so imagine if it’s just you.  Get your freelance life organized before you even think about getting clients.  They can usually tell when you are not on top of your game.