Business Planning along Anyaberry in 2016

It is a good old tradition to set up goals and plan to achieve them at the beginning of the New Year. It seams to be the best time to start writing the business plan for the company you own or plan to own. That is why I offer you to join me in business planning beginning 2016.
In case you are not completely committed to the business planning just yet, I will tell you about a few wonderful possibilities that business plans can offer:
1) If you own a small business you can use the information from your records  to plan for the long term ( next 3-5 years) so that you have an idea where your business is going. You  should also work on a short-term business plan and look at the business processes on the monthly basis.
2) If you are thinking about making an investment in your business (new piece of equipment for example) you can calculate your Pay-Back-Period and other indexes. This kind of plan will be indispensable when you present your idea it to the financial institution or your business partners.
3) If your business is struggling you can work on a business plan of the "revitalization" and try as many ways as you can come up with to bring the income up and the expenses down.
4) If you starting a new small business it goes without saying that you need a business plan. You can read my previous blog post for more inspiration :)

Starting new year 2016 we will set up deadlines, plans of actions and report our results. We will share difficulties along the road and find solutions together.
If you are interested in certain industry ( as an example to talk about), please, leave a comment. Otherwise you will be "stuck" with the industry I am planning for: the Apparel Industry.

If you know somebody who is an entrepreneur or plans to become one, please, encourage that person to start planning along Anyaberry.

Fashion Business Plan

Recently I am seeing quite a few articles here and there that mention business planning in the Fashion industry. One of my favorite entrepreneurs Martha Pullen wrote in her interview:
"... I made almost no money for the first 10 years I was in business. The main reason is that I had no written plan" (1).
 As a former "business planner" I am a great proponent for writing a business plan before you open any business. It might not be easy but it will make you think like a business owner and rise the questions you haven't even thought of.
Kris Van Assche - a creative director of Dior Homme- describes his struggles writing a business plan for  his independent label:
“My first reaction was, ‘I don't know how to do a business plan, I am not going to do it. You're the business people, you take care of it, I'll make the clothes.’ But they said 'No, you want your company, you come up with a business plan.’ It was one of the best things that ever happened to me, because it made me take responsibility and learn.” (2)
I completely understand that the idea of writing a business plan could be quite intimidating especially for the business owners who don't have any business training. There are several online resources, tools and templates to help you get started. Small Business Administration offers great tools for writing a business plan. You can contact your local SBA chapter and check if they offer training on business planning.
Check out tutorials. In this video you can learn about the basic elements of a fashion business plan
 Reach out to the business school at your local university, they may be able to pair you with a business student who can help.
Find out if there is a fashion organization in your area that can help you with the information and connect you with the specialists. Here in Huntsville, AL, for example,  Alabama Fashion Alliance (AFA) can be a valuable resource.
Think of a business plan as a calendar. You can't imagine living without a calendar, right? You need to know where and when you should be and plan accordingly. Same here. You need to get to know your competition, to plan your sales, to estimate your operational costs, to get the idea what kind of  resources and when need to be allocated to certain spheres of the business and finally to realize when your business should start bringing a return on your investments.
With such a plan you can start approaching potential investors.
Good luck! And get planning :)


1) "A visit with Martha Pullen". The ribbon in my journal. http://www.theribboninmyjournal.com/visit-martha-pullen/
2)"Kris Van Assche Says Do What You Are Good At". Business Of Fashion.
http://www.businessoffashion.com/articles/first-person/kris-van-assche-says-do-what-you-are-good-at-krisvanassche-dior-home