Work at home Wednesday - Starting a home based business - part two

This week for work at home Wednesday I will continue to talk about starting a home based business. Specifically I will discuss putting together a business plan.

It is a common when starting a home based business to want to jump right in and start selling your product and offering your service. I think many small business owners overlook the key step of writing a business plan. Don't make this error and take the time to organize your ideas on paper.

There are 7 key elements of a business plan. I will discuss each and how they can be tailored for a home based business plan.

Step 1 - Executive Summary

This section should be a short summary of what your company is about, your goals and how the goals will be accomplished. This section should be short and specific. The rest of your plan will detail these goals.

Step 2- Company Information

This section should include your basic information such as address, phone number etc. You can also include any plans for expansion or for employing others.

Step 3-Products and Services

In this section you should spend time detailing all of your products and services offered. When righting this section think about any future ideas you would like to incorporate and include them here.

Writing this section can be a great exercise in fine tuning the products of your company. Be specific and as your business grows return to this section and update often.

Step 4- Industry and market

This section is very important and is one that should be examined and revisited often. With online business there are new competitors surfacing frequently and industry changes faster than ever before.

When discussing your industry take a broad view and include facts that paint a picture of the current climate. The research for this section can really be an exercise in learning about where your company will fit in.

Once you have examined the industry focus on some specific companies within your industry. Look at their product offerings, pricing and anything that sets them apart from the competition. This will allow you to really think about your companies place in the industry.

Step 5 - Management and Organization

This section will outline who the stakeholders are of the organization. If you are planning on owning and operating the business as a sole proprietor this section will be short. If not make sure to include clear guidelines of the positions within your company.

Step 6- Marketing

This is the point in which you should discuss exactly how you plan to reach your customers. Write down your basic outline and than include specific action items for each marketing step. It can also be helpful to include time lines and an expected advertising budget.

Step 7 - Operations

Writing this section will help you think through the basic operations of your business. Think about what will need to be accomplished every day and create some processes to ensure daily goals are met.

For a start up business this section should be revisited often. As time goes on you will probably learn from trial and error and discover new ways to become more efficient.

Step 8- Financial projections

This section may be difficult as a start up but will help in goal setting. You can use this section to think about how many customers it will take to achieve financial goals. After a few months in business you may need to re-examine this portion.

Once your plan is complete it is important to keep a copy close by and review it often. Make it a working document in which you jot down ideas and revise when needed.



Writing a business plan can be a valuable way for a small business owner to organize ideas and inspire new ones. Take some time to develop your business plan no matter what the size of your venture!



I hope this was helpful and would love to hear from other WAHP parents on this topic!

Work at home Wednesday - Starting a home based business - part one

Throughout the three and half years I have been running Addie Kate Creations I have encountered many moms both online and in real life that would like to find a way to work from home. In my opinion one of the best ways to accomplish this is to find a way to turn an interest or hobby into a service or product you can sell online.


I have learned quite a bit through the years about getting a business off the ground and thought I might be able to share some advice with others hoping to do the same. Today I will cover one of the first steps in getting started with an online business.


Choosing what it is you will be selling or offering.


When choosing what type of product or service you will be selling consider these important questions.


If you are making a product what is the time involved to produce it?


When considering this question think about the time involved in gathering needed materials, producing the actual product, packaging the product and shipping the finished goods. It is a good idea to go through all the steps for a prototype to get an accurate timeline. Many aspiring business owners are overwhelmed when they receive their first order and realize the entire process is more involved than originally expected.


What are the cost of materials?


Research the costs of your supplies as extensively as possible. See if any of the supplies you need can be acquired with a wholesale discount once you have your business license. Order sample materials to ensure they are of a quality you are happy with. Don't forget to consider packaging and shipping supplies when calculating your costs.


What are similar products selling for?


Spend time creating a list of competitors and finding the range of prices of your product. Consider whether you want to be at the high end, low end or somewhere in the middle. Pricing is a complicated process and I will create a more specific post about pricing in the future. To start though ,seeing the range of prices in your market is a good first step.


When will I have time to produce the product?


When deciding on what to sell think about your time constraints. Are you hoping to work form home with your kids present? Will you continue to work while building your business? These questions can help you choose a realistic venture when first starting out.


Asking yourself these questions can help you narrow the scope of your business venture to include items that can be produced in the time you have available. It will also help you determine if your item has a profit margin that will generate a decent income for you.



Hope this tip helps! I look forward to sharing more next week!

Back to blogging

One of my business goals this year was to get back to blogging on a regular basis. Well here we are, in the second half of March and I have yet to publish a new post. As of today I am hoping to change that.

The last few months I have been busy creating new custom designed photo cards for Addie Kate Creations. I can't wait to show them off along with the fun birthday party themes they were inspired by. I have also done several other design projects this year such as logos, business identity packages and even some nursery wall art. In the next months I plan on posting a few times a week and sharing these ideas with you. I also am planning on posting some work at home tips that I hope other small business owners can find helpful.

So stay tuned for a new and improved version of Posh Parties and Products!