A Business Plan

Are You The CEO of YOU?

by Laura Interval

So, let’s say you’ve decided to open your own store. Let’s say it’s a store for… I don’t know… magic carpets… or whatever it is that you love. You decide to go into business for yourself… you decide you are going to take on the role of entrepreneur. What is the first thing that all good business instructors tell you to do? What must every business have to insure success? According to every business journal I have ever read… it’s a solid, well thought out business plan.

So, why is it then, as artists, most of us don’t have one? We have ideas of what we want to do… or even goals of certain landmarks we want to achieve, but if we want to be successful in our business, don’t we need to run it like a business? Perhaps it’s because of the fact that you are selling YOU… that we don’t actually “set up shop”. But, I believe that if you fail to take care of the business of YOU…you are very likely to join the high percentage of small businesses that have to shut their doors every year.

So, today… right now, take a look at the business of YOU. Get clear on your business structure… how it’s running… and who’s running it. Take control of your commodity… and make sure you’re doing all that you can do to be a profitable “store”.

Write a business plan!

I know. You’re creative and you don’t think this is. You’re pursuing a life of creativity so you don’t have to do these kind of things. But, hang with me on this. You will learn a lot about yourself… by writing this plan. Think of it as a creative writing exercise . . . creating your company . . . creating your career path… creating wealth.

First of all, what exactly is a business plan?

Entrepreneur.com explains it as: “ A written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement. A business plan is also a road map that provides directions so a business can plan its future and helps it avoid bumps in the road. The time you spend making your business plan thorough and accurate, and keeping it up-to-date, is an investment that pays big dividends in the long term.”

Yep. I’m in. I’m all for a road map of my future.

All good business plans begin with a mission or vision statement. I think we should develop one that is both. This is a concise statement of who you are presently and what you want to do in the future. This is why your business exists. This statement should represent you as an artist and a business person. It should be both inspirational to you and persuasive to any one who would be a potential “investor” in you. It takes some thinking… and some trial and error. In one sentence, what do you believe in and why are you doing it?

A few examples:

“… to practice enriching your mind and give back to yourself and others.” - Oprah Winfrey

“To enable people and businesses throughout the world to realize their full potential.” – Bill Gates, Microsoft Mission

A business has to be involving, it has to be fun, and it has to exercise your creative instincts. - Richard Branson

“Our vision is to create a dynamic and significant experience for people, their voices, and ideas . . . We will be a haven for discovery and inspiration that celebrates the spirit of Sundance.”
- Robert Redford, Sundance Institute

Make yours in your own voice. Tailor it to your specific wants, needs and goals. What would be the header on the YOU stationery? Read this for more detailed instruction on writing your mission statement.

OK… now let’s break it down into a true business plan.

Start by stating what business you are in: (performance/entertainment, sales, arts…)

What are your products and services?: (theatre, shows, what is in your store?...)

What benefits do your products or services provide?: (Why is someone going to cast you? Why is someone going to need/buy your work?)

What led you to develop your business?: (why are you doing it?)

Why are you uniquely qualified to be in this business?: (What are your strengths? What do you offer that no one else does? YOU is a good answer to this question… just simply YOU! No one else offers that.) So, go even further. . .

What makes YOU distinctive from others?: (Why are they going to chose YOU? Or buy your product?)

What are your short term objectives?: (What are your business goals for the month?) Write a detailed plan of what you will achieve and how in one month.

What are your long term objectives?: (What are your business goals for the year? Write a detailed plan of what you will achieve and how in one year.

Location?: (What are the realities of your market where you are? Do your goals match what the market will yield?)

What are your company’s weaknesses?: How are you addressing them? (What do you feel are your weaknesses, risks, and obstacles? Claim them… and make a plan on how to make them your strengths.)

What is your financial position and is it right for your future?: (Take a good look at your finances. Be realistic about the present state…and your goals for the future. It doesn’t take a lot to live on if you are aware and smart with it. Plan a strategy to become more aware.)

Who are the key members of your team?: OK… you’ve just established that you’re CEO. You ARE THE BOSS. Everyone else in your team works for you. Agents, managers, lawyers, publicists, coaches… Until someone hires you and pays you to be their employee. YOU run your business. You make the decisions. You are hiring these people, your team, to guide you. To help you run your business. Never forget who is in charge… and who is responsible.

You should now have the start of a really solid business plan . . . a plan that demonstrates the exciting aspects of your company and growth potential. Are you excited? Do you feel more power in the ownership of YOU and what your company has to offer? Do you have a clearer vision of who you are as CEO and what you can do to make sure YOU succeed?

Check in on this plan at least once a month. Make sure your vision statement is accurate to your actions and plans. Revise, rethink… and run the business of YOU like the influential, powerful presence that you are.

Related articles:

Your Mission Statement - Get It Down

The Importance of Declaring Your Intention!



return from Business Plan back to your artist tool box