Creating a Freelance Business Plan - Part 2

January 23, 2008

This is part two of a series on freelance business planning.

Part 1 examined mission/vision statements and a personal evaluation. The plan continues…

Business Niche / Image

What clients do you want to serve? This isn’t about going after commercial accounts. Does your favorite charity have local chapters? Non-profit work is just as exciting and can pay just as well as a small business.

MyDesign Shop will focus on the Internet needs of small businesses—to include independent real estate agents, attorneys, and small, retail boutiques. I will offer one-on-one consultations with extensive handholding. I will not focus on the price-sensitive client—only on those clients who wants the extra attention and thoroughness in exchange for a product she is happy with at a price she can afford.

I will emphasize community involvement and activities. I will also conduct public seminars to educate small business owners who may otherwise be overwhelmed by the confusion surrounding the Internet. I will position MyDesign Shop to be a general Internet clearinghouse for the small businesses in my community and surrounding areas.

Business Operations

As a startup freelancer, you probably don’t need to worry about setting up a corporation. There are tax advantages for setting up a corporation but—if it’s your first time—it can be frightening.

I will designate MyDesign Shop as a sole proprietorship during first year operations.
If my business grows steadily and produces enough income to justify it, I will form an LLC with an attorney’s help.

If I decide to retire, I will be able to sell shares in my business and become a passive owner. I will still retain majority ownership and provide direction without performing all the design services.

Business Location

If you’re like me—and you live in the sticks—getting reliable Internet service will dang near make you go insane. So, you may need a smaller, outside office. Or, you might be able to bum from a local coffee shop or bookstore.

My business will begin at home. I will clear enough space in an extra bedroom, den, or closet that will give me enough space to perform my duties without excessive interruptions from family and pets.

I will not meet with clients in my home office. To maintain professionalism, I will meet at client businesses or agree to meet at a local coffee shop or other small restaurant.

Read Part 3

Tags: business plan, freelance business plan, business planning, startup business plan