The Right Brain Business Plan (RBBP) e-course is rolling into its 6th week. That puts us 3/4 of the way through the class. Hard to believe it has gone by so quickly…and that I haven’t been very good about keeping you up-to-date on my progress.
Last I wrote about the RBBP, I shared my business vision and the Vision Accordion Book that I created. Since then, we’ve tackled our business self-portrait, our target market, working the numbers, and determining sources of support.
The Business Self-Portrait
Developing our business self-portrait and business landscape was fun and challenging at the same time. This is where we determine where our business fits in the larger business landscape. We approached this from two directions, those things under our control (our strengths, challenges, and opportunities) and those things NOT under our control such as customers, trends, competition and barriers.
The self-portrait provided another opportunity to creatively paint a picture of my strengths, challenges, and opportunities. It was also a bit intimidating because we are asking questions about ourselves. While this is a hard task for anyone, I think it may be a bigger challenge for women because most of us are told not to talk about the things that we’re good at, not to talk about our successes and achievements. That is the sign of a bragger, an arrogant person, and an egotistical person.
Well, fat on that.
One way we were given to approach this task was to ask friends, family, associates, co-workers, and colleagues a series of questions such as “What three words would you use to describe me?” “What would you say are my natural gifts, strengths, and passions?” and “What would you say sets me apart from the crowd?”
It was humbling and heartwarming to receive people’s answers to those questions. Holding a mirror up to yourself is not easy. Asking people their opinion isn’t always easy either. However, the way you are seen in another person’s eyes can be very affirming.
Following another RBBP classmate’s lead, I entered the words and phrases into Wordle to create a word cloud. Then, inspired by those black construction paper silhouettes we had as kids, I asked Eric to trace my head onto a large sheet of paper. This profile would become the centerpiece of my business self-portrait.
The self-portrait features the word collage in the center of my silhouette. Other components include my background and experience, skills and talents, customer quotes, opportunities and challenges.
The Wordle collage puts in bold typeface those words that appear most often. From this one might summarize that the words most often used to describe me are: knowledgeable, caring, creative, understanding, organizer, listener, thorough, and courage. These words give me insight into my strengths and skills and themes that could influence my business.
The Business Landscape
The business landscape is an on-going process. Creating the landscape requires a bit more detective work. It is here that you look at trends (social and economic), think about how big your market is, map out your target market, consider direct and indirect competition, take into consideration what you do well and barriers that you might encounter.
The fun apart this assignment is we can create SWAGs (Silly Wild Ass Guesses) for those areas where we don’t have a definite answer right now. It is better to put down a SWAG than to get stuck and not move forward. And through research an answer, hopefully, will be found.
To help with this part of the process, I set up a fabric covered tri-fold foam core display board that I used long ago in my first art shows. At the top of the middle section, I’ve posted the name for this entire venture “The Creative Well.” This section is also for tracking trends and market information, including a map of Massachusetts and New England, information on population, numbers of polymer clay teachers in the area, and my business self-portrait.
The left panel is for information on the competition and potential collaborators. The right panel holds information on resources, such as places where I might be able to teach polymer clay classes. As I come across and collect information, it is added to the designated section with push pins or notes written on Post-it notes.
I like this format because it is portable and collapsible. I keep the board on a shelf right across from my work table so I see it every day. When I add information or want to analyze the entire picture, I can lay it on the floor to get a good overview.
Next: Target markets and numbers