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Over the last few days, we’ve talked about the “Research and Dream” and “Plan and Execute” phases of expanding a business.  Today, we’re finishing this series and covering the “Review and Refine” phase.

Let’s assume you’ve launched into a new market, you put your business plan strategies into place, and you’ve been in business there for 3 months.  It’s time to review how effective your expansion has been so far, and adjust your plan to make any necessary changes.

Does the Research = Reality?

For me, I quickly realized that although all of my research and business plan was focused on “Dallas/Fort-Worth”, these are two completely different cities even though they’re only 40 minutes from each other.  The cultures are worlds apart – Dallas brides for the most part want very traditional affairs, and Fort Worth brides tend to prefer more laid-back events.  The wedding professionals in each of these cities are very different, there are advertising options that work better for one of these cities vs. another, etc.  Until I actually physically moved here and immersed myself in the culture and navigated my way around the industry, I wouldn’t have necessarily been able to learn these differences.

Refine the Plan

So, it was necessary for me to refine and update my business plan in order to reflect my new learnings and make sure that my Marketing Plan, Financial Plan, etc. still made sense.  Quite honestly, I scrapped about half of my business plan that I originally wrote for my expansion because it needed refinement once I actually moved here to experience the market first-hand.

As Michelle and I always preach in The Simple Plan, your business plan should always be evolving.  I will venture to also say that if you expand your business you’ll likely be evolving at a much greater speed than you were used to with your current market.  Your business plan will likely need several revisions within a short period of time after you expand, so that you can either validate or change your assumptions.

I hope this has been enlightening to those of you who have been curious about expansion, and if you decide to pull the trigger and launch into a new market get ready for a wild, exciting ride!

Plan it out!

So, let’s start with the Planning aspect!  In this stage, it’s imperative to create a solid business plan for the market you’re wanting to expand into - and yes, one that is different from the plan you might have for your current market (chances are, the new market is night and day from your current market).  This business plan serves as a roadmap as you dive into the expansion.  It will help you to set strategic goals for the new territory, to create a promotional strategy and sales plan, to determine processes and staffing plan,  and have a very solid financial plan in store.  <<Insert shameless plug for The Simple Plan, our easy-peasy approach to writing a business plan! >>  We also have a one page Quick-n-Easy Business Plan or a 13-Step Business Plan that you can download for free, if you are looking for tools to get you started with the planning process.

What does the market tell you?

If you’ve answered alot of the questions we discussed in the post yesterday, then you’ll have a ton of the information you’ll need to put a solid business plan together.  Of course, it’s tricky to know how many brides you’ll book the 1st year you enter a new market…but based on the research you do, it should help you to at least put an educated guess on paper and will be great to give you some goals to work towards once you enter the new market.

Managing TWO markets

Okay, so let’s say you have your solid business plan in place for the new market and you’re ready to roll…but, what are you going to do with the existing business in your current market?  For me, this question was a no-brainer because even though I was physically moving to Texas, I wanted Sweet Pea Events in Seattle to thrive.  This was nearly my baby, after having built up my business there for several years.  So for me, it made sense to bring someone on board to take over that market for me and Holly-Kate Foss was the perfect person to do just that!  She now manages and runs all Seattle related events, and I manage the Dallas market.  This has worked so well for both of us, and might also be a structure that works for you.  However, it might also make sense for you to hire an employee as a Territory Manager for your current market so you still have a high-level of involvement.  No matter what you decide, just keep in mind that expanding to a new market is no easy feat and will likely require you to adjust your staffing plan for your current market while you get your new market up and running.

Execution

Now comes the hardest part of all, in my opinion…the Execution of your plan.  Before I expanded, I thought this would be the easiest part – I mean, afterall I thought, “I’ve been a Planner for years so how hard can it be to just launch into a new market?”  Oh my, this was a terrible assumption and although it was not impossible of course to expand into Dallas it was MUCH more difficult than I thought.  Why?  Well, to fully immerse yourself in the culture, to establish your presence, and to build relationships with people takes time.  I know this all too well because it’s how I built up Sweet Pea in Seattle, but somehow I thought I would just have an insta-business in a new market…but the truth is, it was like starting up a brand new business.  No one knew who I was, no one had heard of Sweet Pea Events (humbling), and I know alot of people assumed I was just a hobbyist and wouldn’t stick around.  I had alot of barriers to break down that I hadn’t even anticipated.  So, although I was SUPER confident in taking the risk to launch my business in the south, and had done plenty of research and had a solid business plan, I definitely did not anticipate some of the obstacles I ran across.

All this to say, in no way do I mean to discourage you from expanding into another market – but to convey that in my experience it truly is like starting up a new business.

Join us tomorrow to learn about the the 3rd phase of expansion, “Review and Refine”!

So, first things first…when my husband and I first considered moving to Dallas, I needed to do my research.  Not just a little bit of research, but a TON of it.   And, of course I needed to dream about what this new branch of my business could look and feel like! So I spent the course of a few months trying to find answers to questions like:

• How many weddings take place in the Dallas – Fort Worth area?
• What is the average wedding budget, average guest count, etc.?
• What is the going rate for wedding planning services, and especially what price range will the market bear?
• How has the economic downturn impacted the wedding market in Dallas (keep in mind we moved in October 2008 when the big bad “E” word was announced!
• Is Fort Worth the same market or a different market as Dallas?  Everyone refers to it as “DFW” so you might assume like I did that Dallas was the same as Fort Worth, right? (Wrong, but we’ll get to that later!)
• How am I going to find brides that are in my target market?
• What are the advertising mediums available?
• What is the competitive landscape?  Is the market saturated or is there room for another Planner?
• Does any other Planner have the same or similar niche as me? If so, am I willing (and able) to create a new niche?
• What is the culture like in Dallas and how is my company going to fit in?
• What kinds of business licenses do I need in Texas, and will my Washington State LLC also apply to business I do in Texas?
• How am I going to “hit the pavement” and establish myself yet again, but this time in a brand new city?
• What am I going to do with Sweet Pea Events in Seattle that I’ve built up over the last several years?
• Is my current business plan for the Seattle market going to easily transfer over to the Dallas market or will I need to re-write a whole new plan and define new strategies? (answer is yes, I needed to re-write a new plan…more to come on that tomorrow!)

All this to say, these were just a few of the many, many questions I had to ask and find the answers to before even beginning to plan and execute this expansion.  If you’re considering expanding into a new market, even if it’s a different part of your state, these are just some of the questions I would recommend starting to research.

You may also be wondering, where in the world do you find this information when you don’t currently live in the state and have nver done business there? Here are a few ideas and ways that I found my info:

1. The Wedding Report – this resource is chalk-full of reliable information in general about the wedding industry, and the great part is that you can drill-down and purchase state and city specific information.

2.  Local Wedding Pros – seek out local wedding professionals in the market you’re considering expanding to, and ask them if they’d be willing to chat for 10 minutes or answer a few questions via email so you can learn first-hand from them what it’s like to work in that market…and at the same time you can also hopefully learn a bit about your competitive landscape.  Now, keep in mind you won’t likely hear back from alot of people, but there will hopefully be at least a few who are willing to help you out!

3.  Local Advertising Mediums – a great way to learn about a market is to pick up all of the local bridal mags, track down the most popular local online wedding magazines and blogs…and ask them what their distribution and reach is like, what is the demographic of their brides, etc.  You are a potential advertiser and they should definitely be able to tell you this information!

4.  Site Visits – this is by far the most beneficial way you can learn about the market you’re considering.  There is nothing that can replace an actual physical visit to experience what the culture is like, to learn where the most popular wedding venues are, to understand what the local trends are, to survey local wedding pros and begin relationship building, and to understand how the local market perceives Wedding Planners and the value brides place on our services.

Does this have your wheels turning yet?   I know, there’s lots to think about huh?! So, be sure to check back tomorrow to learn some of my strategies for the “Planning and Executing” phase of expanding a biz!

April’s newsletter had a LOAD of tips about how to make it in the wedding industry from Sasha Souza, owner of Sasha Souza Events.  Below is our article published in the newsletter.

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Why write a business plan?

We all know the urban legend of that business that has been around for 20+ years and has never written a business plan.  Well, I’m here to tell you that anyone who says they’ve been around for that long and never wrote a business plan is either an anomaly or is not being completely honest.  A business plan is the one true competitive advantage of the businesses that “make it” over the ones that don’t.  Unfortunately, many people think that they can get by as an “anomaly” – the one business that succeeds without a plan.  Anyone great in this industry has a plan. Vera Wang?  Check.  Preston Bailey?  Check.  Martha Stewart?  Check.

Ever make a recipe and leave out an ingredient?

Being a business owner can be challenging.  We are managing 29,049 ingredients which all go into making our perfect business pie.  The problem is that we often leave some important ingredients behind.  These are the items that we don’t always have in stock or may be items that we aren’t good at producing.  We leave out some really important things.  And, our pie doesn’t quite hold up.

If we are designers, we are good at visual aspects, so we put all of our energy into our website design.  Our logo is top-notch.  But, we might not be good at sales forecasting, so we just don’t do it.  That’s akin to leaving apples out of your apple pie.  BLEH.

I’m not a very good cook so it’s a bit ironic that I’m using cooking as an analogy.  But, part of the reason I’m a bad cook is because I’m generally not following the directions, getting impatient, and leaving something out.   There are no shortcuts in business.  Write a business plan, reexamine it every year for how you can improve upon the plan, and use it as your recipe.

A business plan is a recipe for success…

A business plan covers every aspect of business.  It asks you to make a plan for how you are going to market and promote yourself.  It requires that you set sales targets and expense budgets.  It makes you look at your operations and define your systems.  It is an all-encompassing examination of your business.

Many people think that writing a plan is a daunting task.  It doesn’t have to be.  Spend 1 hour a week on it.  Find a partner to meet you for coffee and individually hash out your plans.  Take a class.  Read a book.  Write it in 2 pages or 50 pages.  Do what works for you.  But, make sure you create a recipe for success.

With a plan, a recipe for your business, you’ll have one prize-winning pie… errrrr… one prize-winning business!

Courtesy of Wordle

Quick – what is your mission statement?

I’m hoping that you were able to proudly state the exact mission of your business.  If not, we’ve got some work to do!  (If you do have a mission statement, follow along so that you can analyze it’s effectiveness.)

The SOUL of your business

The purpose of a mission statement is to define the core philosophy of your business.  Namely, why are you in business?  What is the purpose of your business?  It is usually a sentence (or a few) that describes THE SOUL of your business.

Let’s revisit some of these characteristics of a strong mission statement.  Spend 20 minutes today working on the following questions:

• Why are you in business?
• Who are your customers?
• What is the nature of your products and services?
• How will you serve the people of your business (employees, customers, stakeholders)?
• How do you differ from others?
• How will you reach your goals?
• What underlying philosophies or values guide your business?

When you’ve worked on those questions, write 1-3 sentences to define the mission of your company.

Need inspiration?

I always get inspired by learning from other businesses, particularly those outside of the wedding industry.  Here are a few of my favorite mission statements.  They truly define what these companies are doing:

Nike: To Bring Inspiration and innovation to every athlete in the world.
Harley-Davidson Motors: We fulfill dreams through the experience of motorcycling, by providing to motorcyclists and to the general public an expanding line of motorcycles and branded products and services in selected market segments.
Microsoft: At Microsoft, we work to help people and businesses throughout the world realize their full potential. This is our mission. Everything we do reflects this mission and the values that make it possible.
Bristol-Meyers: To help all people live healthy lives.

Dig around missionstatements.com for inspiration.  They have some great resources!

Living Your Mission Statement

Your mission statement should be the guiding force in your business.  It should be the statement that drives every decision you make.  It should dictate how you market yourself, how your operate, and how you make money.  You should know it by heart.  You should share it with your employees and your contracted labor.  They need to know what is the heart and soul of your business.  Share it with your clients (on your website and/or promotional materials).  Let people know what you are all about.

Your mission statement shouldn’t change often.  But, if you have a major shift in your business, you should reassess it.  Tweak and change until it fits just right.

Live your mission… every day.

Now… share with us… post a comment below with YOUR business mission statement below.

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Recently, I’ve heard a few wedding professionals comment to me that they already have a business plan or that they did their plan years ago.

I wonder, “YIKES!  Have you stopped planning for your business?  I sure as hell hope not!”

The day that you stop planning for your business is the day that your business is done.  The business plan is a constantly evolving mechanism.  It is a living and breathing document.  As your business changes, as you grow as a business owner, your business evolves.  You must be reviewing your business plan every 6-12 months.  You must be revising, restrategizing, editing, and rebuilding.  You must find new things you want to do.  You must define new goals.  You must reexamine your branding.  You must tweak your sales forecasts and your expense budgets.

You must plan or your business is dead.

Don’t believe me?  Read this post on Palo Alto Softward and their never-ending 22-year-old business plan.

Photo courtesy of Ariel Nay Nebeker

A lot of people have been asking us, “What’s The Simple Plan all about?  What can I expect from my 2 days of business planning with you ladies?”  We thought it’d be great for you, dear readers, to hear it first-hand from someone who has attended our business plan workshop.

Tara Bliven, owner of Ephemera, Inc. and custom letterpress stationer joined us for The Simple Plan in Seattle this past November.  Here she shares with us her experience…

Tara Bliven
Ephemera, Inc.
Established 2006
Attended The Simple Plan Seattle 2009

What The Simple Plan was like…

I thought The Simple Plan would be basic information that was sure to help me focus, and I had been feeling very unfocused, so it sounded good.  Really, I signed up on a whim thinking, “Hey, it couldn’t hurt.”

I had written a business plan or two before – leaving out very important sections, mind you! – and I knew a business plan was “important” in a general way, but I didn’t realize how important it was until I had been at the workshop.  I realized that a good plan drives every decision you make as a business owner – and this means that it can even help you make decisions when you don’t know what to do next.  That guide was exactly what I had been missing.  I knew I had felt like I was flailing a little bit, but wasn’t sure why or what I could do about it.  It was truly transformative.

About the Investment… Was it worth it?

Absolutely – in fact, I told Michelle and Kelly to double the price! (You’re welcome J) I walked in with an inkling of what was wrong with my business, and I walked out not only sure of what my mis-steps had been, but also a plan of attack on how to fix it, PLUS the confidence to know it was right.

What changes were you able to implement right away?

Right away, I firmed up my mission statement, and got my financial sections straightened out.

How did it change your mindset about your business?

Oh, in so many ways!  One that sticks out is that when I had written those aforementioned incomplete business plans, the sections I always left out were financial.  I just didn’t really get it.  I thought, “How do I know what sales will be like?”  That is actually embarrassing to admit, but it’s true.  However, Michelle used to be an accountant, and she taught it to us.  Guess what?  It is a skill that you can learn – duh!  And it is true that knowledge is power.  Now that I know how to create sales projections, balance sheets and everything else, I feel so much more in control of my business.

How did the collaboration affect you?

Something Michelle and Kelly really emphasized is that collaboration is key.  We are all entrepreneurs because we wanted to do something of our own – but it can be so isolating to feel like you’re really out there by yourself.  I came in knowing for sure that I was not using networking to its full potential.  The Simple Plan really inspired me to get out there and make new friends with similar businesses and struggles so that we could help each other in our endeavors and celebrate our achievements. I really connected with Ariel Nay Nebeker – she is an uber-talented photographer who recently came out to take some photos of our 100 year-old Chandler and Price printing press in action.  And soon, I’ll be having coffee with my accountability partner, Rebecca Ellison!

Other thoughts from Tara…

If you’re feeling lost, uninspired, or so new you don’t know where to start, sign up for The Simple Plan.  Even if you have to travel to a strange city where you don’t know anyone, and it’s the first money you’ve spent on your business.  It is easily the best money I’ve ever spent on mine – I just wish it had been offered 3 years ago!  It inspired me to make those changes to my business that had been nagging me for quite awhile.  I’m still not quite done reinventing Ephemera, but at least I know what to do.

Thank you Tara! We loved having you collaborate with us at The Simple Plan!  Your knowledge and enthusiasm was a benefit to us all.

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Kelly and I are really adamant about teaching people how to create a business plan.  Why?  Because a business plan is a guide.  It causes you to stop and think about where you really want to go with your business. If you don’t have a plan, where do you know where you’re going?  How will you get there?

Let’s be clear: A business plan does not bring customers to your door.  You still have to sell and know how to sell.  A business plan does not design your website or your logo.  But it causes you to think about who you are at the core of your business.  What does the soul of your business say?  And, how are you going to create a profitable business out of that?

Strength in collaboration…

This week we’ve been discussing how to form a business plan collaborative, a partnership with one or several individuals to work on writing individual business plans.  On Tuesday, we met the Bodacious Business Planners and learned how they set up their group and how they function.  Yesterday, we discussed the challenges of such a collaborative (and – really – anyone writing their business plan) and how to overcome them.

Collaboration is a huge reason that we created The Simple Plan workshop.  We have learned from our personal experience that things are always more fun when done with others… the more the merrier! And, there is also an incredible amount of brain power that you get from bringing 30 wedding industry people into one room to specifically talk about business.  Two heads are better than one.  And, 30 heads are better than 2!

A Quick-n-Easy Business Plan Resource…

Like I said, Kelly and I are really adamant that owners in the wedding industry have business plans.  This is key to creating a sustainable company.  We’ve given you the 13-step business plan and are bringing The Simple Plan workshop to you.  And, now we have one more resource for you.  We think this will be an easy way for people to work on their business plans in a collaborative forum.

Today, we give you the Quick-n-Easy Business Plan.  This speedy one-sheet is designed to get the basics of your plan.  We know that when you work in a large group, you may not be able to get into all the detail of a more elaborate business plan.  (This is also a good resource for a business owner who is limited on time and just wants something for a plan.)  A few notes of caution:

• This is definitely NOT an all-encompassing plan.  It’s designed to cover the very basics about your business and it’s future.
• I’m a sucker for checklists, hence the boxes.  Have fun and check things off the list.
• The checklist makes it easy for you and/or your group to accomplish one task each week.
• When you’re ready to take your business planning to the next level, visit the 13-step business plan or join us for The Simple Plan workshop.  (You can also start there from the get-go if you prefer.)

Download here: Sage Wedding Pros Quick-N-Easy Business Plan.

No excuses…

Our mission is to create sustainable business in the wedding industry.  And, we’re gonna make darn sure you have no excuses to writing your business plan!  HA!

NOTE: We’re having a contest this week…

Post a comment during any of our posts this week: Share with us something about your business, how you’ve collaborated with other pros, why you want to attend The Simple Plan, a tip for teamwork… let us know what you want to learn about business planning… anything… and we’ll pick one person at random.  The winner will receive a free ticket to The Simple Plan, Atlanta.  (We’ll pick a winner at random on Friday at 3pm EST.)

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Yesterday, we met the Bodacious Business Planners, 9 wedding professionals from across North America who banded together to work on their business plans.  Kate Miller, of Kate Miller Events, who heads up the group, gave us some great tips on how to start a business plan collaborative.  We’ve found that by joining others to achieve our goals we have higher likelihood of accomplishing them.

Kate has also expressed some of the challenges that the group has faced.  These are challenges that we ALL face in writing our business plans.  So, let’s work through some of them:

Challenge #1: Finding Time

We are business owners who work a gazillion hours doing a gazillion things, how in the world are we going to find the time to write a business plan?  Well, the answer is simple: you don’t do it in one sitting.  Can you commit yourself to 30 minutes a day?  I can.  You can too.

Do you think people write a book in one sitting?  Do people lose weight overnight?  Was Rome built in a day?  No, No, No.

Here’s a story… I have a HUGE project going on in my office right now.  6 years of invite design, 1 move from California to Washington, 2 years of Get Hitched Give Hope, 2 years of motherhood, 1 year of Sage Wedding Pros and 1 move from Washington to Florida have left me with a LOT of paperwork and things EVERYWHERE.  My HUGE project is filtering through all of this.

Here’s the problem: I can’t take off the week it would take me to fully clean and organize everything.  So, I am committing myself to 30 minutes a day.  That is all.  And, to make sure that I only spend 30 minutes, I set the timer.  The timer isn’t as much about running overtime as it is about making me feel better about starting this task daily, “Oh Michelle, it’s only 30 minutes.  It’ll be fine.  Just get it over with.”

Similarly with your business plan: commit yourself to 30 minutes a day.  Set the timer.  No interruptions.  And just do it.  It’s amazing what you can do with 30 minutes of uninterrupted committed time.

Challenge #2: Being Committed

Ahhh… yes… maybe the challenge isn’t time, but it is commitment.  Well this one is easy: are you committed to doing this or not?  You must choose.  You must decide.  You either want to do it or not.  And, make sure your partners are committed too.  Ever have a gym buddy that talks you out of going to the gym?  Yeah – that’s not a good buddy.  Find someone who is committed.

Challenge #3: Staying Motivated

Why do people procrastinate?  Often it is fear of failure or fear of not finishing… or, possibly the feeling of being overwhelmed.  There is this idea that writing a business plan is akin to composing a symphony.  But, in reality, writing a business plan is simple and not difficult.  ANYONE can do one.  And, it doesn’t have to be the great American novel.  Donald Trump talks about writing an 8 page plan.  Participants of The Simple Plan would tell you that they spent 2 days with us and knocked out their plan in one sitting.  The business plan is written for your success, for your purpose (unless you are seeking financing or investment).  Only you need to see it.  So get over the perfection and just start with the first step.

Here’s what you first need to do: envision what the result of your plan looks and feels like.  (For general information on what a business plan looks like, click here.)  Having a vision of a completed plan can be challenging.  It’s not like envisioning what I’ll look like 30 lbs lighter.  (Just like a supermodel, of course!)  But, maybe the completion of my plan signifies something else?  Maybe identifying my 5 year goals and my financial roadmap will make me financially free.  And maybe that financial freedom will enable me to travel for leisure more often.  Use that as motivation!  Envision what the chain of events will look like: business plan = roadmap for the future = financial freedom = trip to Bali!  Be creative!

OK, Business Planners… Bodacious ones and the rest of you… go forth!  Build your plans!

NOTE: We’re having a contest this week…

Post a comment during any of our posts this week: Share with us something about your business, how you’ve collaborated with other pros, why you want to attend The Simple Plan, a tip for teamwork… let us know what you want to learn about business planning… anything… and we’ll pick one person at random.  The winner will receive a free ticket to The Simple Plan, Atlanta.  (We’ll pick a winner at random on Friday at 3pm EST.)

What is a business plan collaborative?

A collaborative is a group of two or more people working together for a common purpose.  In this case, the common purpose is the completion of one or more business plans.  (Click here to learn more about what a business plan is.)

Introducing the Bodacious Business Planners…

I am sooo excited to share with you guys the awesomeness that is happening in our industry RIGHT  NOW!  Introducing the Bodacious Business Planners AKA “The BBP”.  This is a group of 9 wedding professionals who initially met from their participation as Wedding Bees*.  They were all starting up new businesses and were in high need of writing their business plans.  So, they formed a collaborative!

The BBP is made of four wedding planners, two photographers, two stationery designers, and an illustrator.  It includes:

• Sara ~ Stinkerpants Designs
• Stephanie ~ Stephanie Michele Events
• Brooke ~ Songbird Creative
• Kate ~ Kate Miller Events
• Jenna ~ Jenna Cole Photography
• Shannon ~ Fromage Photography
• Kelly ~ Blush !nk
• Charlene ~ Sweet Chic Events
• Julie ~ Duet Letterpress

Kate Miller of Kate Miller Events, who orchestrates the BBP, says “Being a diverse group, we get a wide-range of perspectives from multiple and similar industries all at once. It’s a fantastic sounding board for new ideas and problem solving. We are all, for the most part, non-compete as we are spread out across the continent – from California to Pennsylvania, from Canada to Texas.”

How did they do it?

The BBP used Sage Wedding Pros’ 13-step business plan to guide them each through the process of writing their plans.  But, they needed to find a way to meet virtually.  Kate shares:

“To make this work, we had to find a medium that allowed for that “coffee break” atmosphere that I was jones-ing for.  Skype was the first obvious piece of technology to try, but we found it limiting in it’s video conferencing abilities.  We wanted to be able to look each other in the face, especially because it was hard to not speak over each other during meetings.  After looking at a few free online video conferencing tools, we chose TokBox (www.tokbox.com). It’s a great free video conferencing tool that allows up to 20 people to broadcast at once. It has it’s difficult moments, but so far, it’s proved mighty useful.

We also use a Basecamp project on my online planning Client Section that I use for my Bride and Groom clients. I knew it’s capabilities – having used it for many weddings to track checklists, idea boards, calendars and contracts – and knew it was extremely flexible. I tailored the BBP project to meet our needs and it now allows us a great way to communicate, RSVP to meetings, track our progress, schedule future meetings, document our meeting minutes and peer edit our biz plans.

We meet every two weeks, via TokBox and always cover the following topics:

- the current step of the 13-Step Business Plan that we are on
- any difficulties in progressing on this step
- each member shares a win since the last meeting
- each member has the chance to ask the group a business-related question.

Thoughts on Forming a Collaborative

I think what the BBP has done is AWESOME!  Good for you ladies!  If you’re reading this and want to do the same, here are some thoughts:

• Form a group or a partnership… either can be empowering and supportive.
• Find a friend who also wants to build a business plan and make a bimonthly meeting with them.
• Keep limits on time for the meetings.  The deadline will keep you focused.
• Decide on tasks to accomplish before you meet.
• Find a way to communicate if you can’t physically meet.  The hone is good, as is Skype.  If you have a large group, use TokBox for virtual meetings and form a ning group for bulletin board conversation.

The Challenges of Forming a Collaborative

The BBP has expressed some challenges in writing their plans.  These are challenges that many small business owners face in writing their plans (with or without a group).  Tomorrow we’ll discuss these challenges and how to get over them.  Can’t wait!

NOTE: We’re having a contest this week…

Post a comment during any of our posts this week: Share with us something about your business, how you’ve collaborated with other pros, why you want to attend The Simple Plan, a tip for teamwork… let us know what you want to learn about business planning… anything… and we’ll pick one person at random.  The winner will receive a free ticket to The Simple Plan, Atlanta.  (We’ll pick a winner at random on Friday at 3pm EST.)

* The BBP is not affiliated with weddingbee.com .