For Kidpreneurs!

Having a general business idea is a great start, but if you want your Kid Everest campaign to really POP, then you need a business plan.

Now business plans don’t have to sound big and boring. They are essential just a road map to help you really get where you want to go.

Every good business plans has 4 critical parts; the main idea, the marketing, the managing, and the finances.

The Main Idea

The main idea section of your business plan is the crux (or point) of your business. It contains the business name, the logo (if you have one) and what the business does. It allows answers the question of why this needs to be a business. This section of the business plan will help others quickly understand what your business is and what it is trying to accomplish.

The Marketing

The marketing section of your business plan explains how you will share your idea with the world. It helps you identify your ideal customer and where they can be found. It also helps you nail down the best means of communication with your ideal customer and provides an access point to your business’ products or services.

The Managing

In many businesses, there are several people running various parts. If you are just starting out, you are probably what is known as a solopreneur. This is someone who conducts all aspects of the business. Even if you are a solopreneur, it is helpful to think about the various parts of your business and how you accomplish each task. That way, when you make it big, you can easily hire someone to conduct certain aspects for you.

The Money

The money section of a business plan is where you figure numbers. You consider how long it takes to make or complete a task, analyze costs, and account for expenses.

For many, the money portion of the business plan is the most important. This is because if money is mismanaged, you may not be in business for long. The truth is, money (and profits) are important to the business, but needs to be just part of the whole equation. You can have a great idea for making lots of money, but if you do not have a way to market the idea, or cannot locate an ideal customer to purchase it, you will not stay in business for long.

Working through a business plan template can help identify parts of your business that you may have never thought about before. We have created a basic template for you to use when drafting your business idea. It is included in our Creator’s Workbook.