For the last two plus years, I have made a living with my blog. The earnings during the first 14 months were meager, almost non-existent. But during that 15th month, I earned a profit that, at the time, I thought was unheard of in the world of blogging (it wasn’t, but I didn’t know that, LOL). And soon after, I was earning a full-time income with my blog. When I began treating my blog like a business and putting in work did I begin to see the results. And now, that has afforded me the ability to work from home, travel, and be flexible for my family’s schedules. One thing I learned early in the game was that I needed a business plan to visually mark down my goals and plot my course. And it is with this business plan that I was able to make this a true business.
Do you need a business plan for your blog? YES! Having a business plan can help you truly visualize what you want to accomplish with your blog. It will also hold you accountable for your goals and your vision. It will also separate you from someone who blogs for fun and for a hobby from someone who makes a living with their blog as a business.
I have always been a believer of making it happen. When I was in the corporate world and went in to interview for the job I wanted, I projected my positive qualities. If I didn’t know an answer to a question, I faked my way through it. And most of the time, I got the job. Why? Because I was self assured. I projected that I knew what I was doing and that belief helped me become a HR manager in several Fortune 500 companies. You can also attribute this to your blog. When you have a blueprint of what you are and where you want to go, it can help propel you.
With brands and companies investing millions of dollars with bloggers, the ones who are most business savvy and know their “product” and how to “sell” it are the ones getting the paid opportunities. And by paid opps, I do not mean being sent on free blogging trips and junkets—these are usually not paid and don’t pay the bills. I am talking about cash money being deposited into your bank account—funds that can help take care of your family.
Having a business plan for your blog will:
- Identify your short term and long term goals
- Establish your presence as a business
- Hold you accountable for your goals
- Help you with branding and marketing your blog
- Encourage you to move forward with your blog as a business
- Help you will LLC’ing, INC’ing, or trademarking your blog
- Help you snag investors (if that is what you need for your blog)
- ..and so much more.
How can you create a business plan for your blog? Simply start with using a Word document template. You can also use a paid option like BPlans or use Business Plan Templates. I am not affiliated with these sites/services at all, but have heard from colleagues that have and their feedback has been positive.
You can also hire a business consultant who can take your data and create a business plan for you. I, for one, think a business plan is more viable when you create it yourself, but I understand not everyone is able to do this on their own.
I am a huge proponent of blogs being run as businesses, and this has been the formula I have used. If you don’t have a business plan for your blog and aren’t at the level you want to be, I highly suggest you create one.
The world is yours!
Do you have a business plan for your blog?
I don’t have a solid, on paper, business plan but I know what I want out of my blog. This is reminding me that I need to sit down and take care of this. Thanks for another great post.
I’ve started writing a business plan for my blog several times and I get stuck. It’s hard to project earnings, etc.
I have joined several blogging networks offering paid opportunities, so that helps my income.
Years ago I thought bloggers only earned money through ads. Now I incorporate affiliate marketing, sponsored posts and video sponsorships into my blog.
I’m a new follower and love this post! I came across your blog after searching for others going to BlogHer and Blogalicious ’12. I wrote a full blown business for my company, but never considered doing it for my personal blog. I’m a big believer in multiple profit centers and think this will help transform my blog into a better profit center. Thank you for inspiring me to do this and I hope to meet you at the conferences!
Don’t have one but need one. Maybe I’ll make that a 2012 goal.
Great post. I have not done one for my blog as of yet. I did not think that I needed to do one. Thanks for the tip as always.
This is exactly what I needed. I am struggling with how market and earn profits from my blog. I actually started a business plan, but I haven’t finished because I wasn’t aware of all the opportunities that exists for bloggers. I will definitely be researching more.