Bucks County Herald Article on Powers Speech at the Women's Business Forum
Build Your Business Plan
by Maria Martino Evans
“Business is fine, I don’t need a plan.”
“I just want to start a small craft business. I know what
I’m doing.”
“I’m too busy to waste time writing things down.”
Laura Powers, owner of the strategic marketing and advertising agency,
Harvest Graphics, in Doylestown, has heard all the excuses. In fact,
for eight years, she ran her business without a business plan.
“I began as a freelance graphic artist,” says Powers,
whose award-winning company now provides strategic marketing plans,
advertising programs, website development, identity creation and
creative graphic design for a wide variety of clients.
“A business plan helps you solve business problems,”
she adds. "A business plan is a road map to show where your
company is going and how you will measure your success."
What can a well-written business plan do?
• Precisely define your business
• Identify short- and long-term goals
• Optimize your company’s growth
• Help you make good financial decisions and properly allocate
resources
• Help you handle unforeseen complications
• Inform others about your operations and objectives
“Many business owners think of business plans only as a method
of starting a new business or applying for a business loan,”
Powers adds. “However, business plans are a vital part of
the everyday running of a business.”
Components of a powerful plan
While your plan should be as unique as your business, start with
the basics, Powers says:
Mission statement:
“Keep your vision in front of you all day. Define your destination,
with lots of milestones and timelines along the way.”
Objectives:
“What are you using it for? To attract new hires? To get financing?
To keep yourself focused?”
Components
Internal and external SWOT (strengths, weaknesses, opportunities,
threats) analysis
Marketing plan
Financial plan
Administrative plan
Appendix and worksheets
“If it’s just for your use, it can be as informal as
you’d like,” Powers says.
“My plan helps me focus so I can work on
my business, not just in my business. It helps
me take a helicopter ride over my business and see the big picture.”
She recommends revisiting your business plan at least once a year.
Need a template?
Powerpoint includes a business plan in its gallery of templates,
as does Microsoft’s website. But there are literally hundreds
of other sources available, Powers says.
The key isn’t to find one – it’s to
apply it, every day, to build your business.
Maria Martino Evans, a communications professional, is on the board
of the Women’s Business Forum (WBF). The WBF meets every first
Wednesday from 8 to 9 a.m. and every third Wednesday from 7:30 to
9 p.m. at the James Lorah House, Broad and Main Sts., Doylestown.
Meetings are always free. For a calendar of events and free accounting
checklists and forms, to listen to this presentation and to get
more information, go to
www.womensbusinessforum.org.
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