Reply To: Intro- Sandy Stephen

#2009
Erin Melnychuk
Moderator

Good morning Sandy,

Great to meet you on the forum and learn about your business idea. I love the complement of offering the custom frames in addition to your photography.

My recommendation is to hold off on writing your business plan until you’ve developed the business model, which we’ll be doing through this course. There are many variables which go into developing your business model. Using a business model canvas, like we’ll be doing here, will allow you to play with all of the variables, until you land on a model which you think will work. Then, it makes sense to write your business plan.

The reason we take the approach is because business plans are long documents, which follow a fairly linear process. If you are playing with your business model as you’re developing the business plan, it’s not so easy to update a change to one of the variables throughout the entire document, because it will be threaded throughout.

There are a number of free, online, business planners out there. These walk you through each section of your business plan. You can save your work and keep coming back to it. You can also export your completed business plans to save your document. You might consider checking out the one from BDC, but there are many.

Erin.