“Unlock Your Blog’s Potential: 7 Secrets to Skyrocket Your Success in the New Year!”
The web is full of business plan templates but most would need a little rejigging to be suitable for blogging.
Regardless, it’s a valid exercise. Even the business plan I wrote for a recording studio complex at University got me thinking on an entirely different level about business.
Even if you don’t do a full plan for your blog, it would be helpful to cover off the first few sections of a typical business plan. For example:
- Executive summary – It sounds more complicated than it is. Ultimately, this comes down to understanding who you will serve, and how you will serve them.
- Mission statement – Identify your why. It’s the difference between a blog that thrives and a blog that fails to reach its potential.
- Business objectives – Identify the single most important metric (e.g. gross profit), then give yourself a specific amount of revenue and a time frame to reach it by. You may want to highlight other objectives which is fine, but it helps to have a single north-star metric.
- Market research – We’ve already talked about audience personas which are a big part of this. Work towards understanding your niche, and the people in it.
- Competitor research – Competition is different for bloggers than it is for businesses and it’s important to remember that. In many cases, where traditional businesses would see competition, we may find an opportunity to grow together.
- Revenue channels – Most business plans specifically look at products or services here, but revenue channels for bloggers can be more diverse. This section should cover your income streams, risk factors, what sets your offering apart from others, etc.
- Marketing plan – Here, you’d look at exactly what you can do to market your blog. Your content plan would be part of a wider marketing plan. Most importantly, consider which marketing channels (e.g. email marketing + social media marketing) will help you achieve your goals in the most efficient way possible.
There are other parts to a traditional business plan, but these are the most relevant for bloggers, and should be enough for you to work through.
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