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Creating a Freelance Business Plan - Part 4 | Freelance Sprout | Find, Start, and Grow Your Dream Freelance Business
Read the six part series on creating a freelance business plan
 

Creating a Freelance Business Plan - Part 4

Date January 24, 2008


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This is part four in a six series guide on creating a business plan for a freelance business.

Marketing / Advertising

Word-of-mouth will be the number one marketing technique for MyDesign Shop. I will also join the local Chamber of Commerce and attend their networking events. I will not join other networking groups that require a large commitment—whether in time or money. In addition, I will continue to provide computer training at local nonprofits or other organizations where I can spread the word about my business.

I will keep pro-bono work to a minimum. I will design no more that one free Website every six months. I will be highly selective in who I choose to design for and will use this technique for good causes and in a way that will get more publicity for my company.

I will not buy Yellow Page, newspaper, or other tabloid advertisements. These outlets are cost prohibitive and have shown very little promise. However, I will give my company’s information to every local ISP to generate referrals and leads.

I will use a print portfolio to show my work if requested by a prospect. Otherwise, I will maintain a section on my Website with a minimum of 5 design samples.

My marketing will focus on solo and small service providers. I will choose a single industry when starting (i.e. independent real estate agents), and focus my entire marketing efforts towards this single group. As my reputation spreads, I will expand to different industries, 1 industry at a time. I will maintain a 3 to 5 maximum industry focus. This will maintain my reputation as a niche Web designer.

Once I get my first client, I will offer a rebate for other clients that my first satisfied customer refers. As my client base grows, I will request written testimonials to use when approaching others.

In addition to Web site design, MyDesign Shop plans to offer affordable hosting.
Since a few targeted clients may need an online catalog, MyDesign Shop will offer catalog database services as well.

Timelines

At the end of my first year, MyDesign Shop should have twenty to thirty steady clients. The business should be self-supporting with a $30,000 income—after expenses.

After the second year, MyDesign Shop should have one hundred clients and an income of $60,000.

By the end of the fifth year, MyDesign Shop should be maintaining 100 to 105 clients. My income level should be between $75,000 and $100,000 per year.

After ten years, I will find a dependable person who is interested in taking over the business. I don’t want a larger Web company to acquire my business. I would rather see an individual gradually work her way into it over a few years. I want someone who will share the same level of concern and responsibility for my clients that I have.

At fifteen years, I want to be retired and have someone else running MyDesign Shop.

Read Part 5

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Related posts:

  1. Creating a Freelance Business Plan - Part 6
  2. Creating a Freelance Business Plan - Part 1
  3. Creating a Freelance Business Plan - Part 2

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