Many sole proprietors and craft store owners, both brick-and-mortar and online, get their start as a home business and form a company organically or even spur-of-the-moment. While this can work short term, as more families make these home businesses a big part of their financial foundation, a professional business plan can offer them huge benefits.
"Sole proprietors frequently start their businesses using savings or small loans from family members, and, because of this, they feel like they don't need any kind of business planning," said Joseph Ferriolo, director of Wise Business Plans, which has helped sole proprietors and small businesses across the country outline a path to success. "But a business plan is more than a document to show investors. It has huge benefits for business owners.
Among those benefits are a chance to work with a professional plan writer to outline steps for growth and sustainable success, he said.
"The people who really succeed on sites like Etsy or with other small, home-based ventures are the ones who take the time to research what works in their target market and familiarize themselves with cutting-edge best practices in marketing. We can help with that."
While home-based business is a great achievement in its own right, most sole proprietors and small business owners long for more, he said.
"Most people don't get into business for themselves thinking, 'Man, I really hope I don't see any growth.' But to grow in a way that is stable and strength-producing, you simply have to have a plan. We're here to help. No company is too small; we all start little, but those who plan well get bigger, and that's where we come in."