I had ask in one of my blog post should a blogger carry a business card. No I would like to ask another question should a blogger have a business plan?
Before we go into the depth of this issue we should understand what is business plan. Wikipedia define business plan as:
A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals
If you treat a blog as professional business than you should have a business plan. A business plan will detail out how you going to make money with your blog, your marketing and operational strategy.
There are a few things that should be consider in your business plan among them:
- What is business model? Your business model will determine how you make money with your blog business. It could be pure advertising, affiliate marketing or traditional online store, product or service that tight closely with your blog.
- What is actual business? Nowadays blogging is not a blogging per say. Blog exist as important medium of communication in any business. Any business can have a blog. A bridal service can have a blog, so does sport store, book store even a petroleum company. So what is your business? Determining your business will determine what best suited business model for your business.
- Will you require fund for your business blog? Well, a good business plan can always serve this purpose. It best to mentioned whether you need money or self sufficient.
So how do you treat your blog, as a hobby or as a business? If as a business, it time to build a good business plan, if you don’t have yet or to review again your business plan.
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I’m on a team blog and we just got serious about treating our enterprise as a business. Definitely a business model will help keep us focused and moving toward the target. Our biggest hurdle was convincing ourselves that a real plan is necessary. It needs to be ‘living’, reevaluated with data and fine-tuned.
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