Creative Business Planning

Today is the day that we talk about creative business planning! You need to have a plan in order to make your business happen. Otherwise you’re going to get stuck wishing you had a business while you keep on living life the way you have been! So this episode is SUPER practical and gives you a very high level jumping off point to plan your creative business.

I'm going to share with you four things, I don't know why I chose the number four, but anyway, for things that you need to have in order to get a really good foundational base for your creative business going. Let's jump in!

Here’s what we’re covering in today’s episode:

1. A vision - where the hell is this business going and why are you doing it? How will it help others solve a problem they have?
2. Business model - how will your business make money? What is the product or service? How do you deliver the product or service, how do you market it, and what is the pricing structure?
3. Policies! So important to not get fucked over.
4. Your CUSTOMER!

That’s all for now! If you liked this episode and want to hear more, make sure you follow me on Apple Podcasts or wherever you listen to your podcasts! You can also find me on TikTok and YouTube.

If you’re interested in starting your own creative business, in the new year I’m launching an exclusive program to help you get started! It’s limited to 5 people and I’m developing this program RIGHT NOW! FOR YOU! So if you’re interested, click here to sign up for more info!

Instagram: @the_ultimatecreative and @emily.milling

Transcript

[00:00:00] You're listening to the ultimate creative. I'm your host, Emily milling. I am a multi passionate multihyphenate entrepreneur, comedian, podcaster, musician, filmmaker. You name it. If it's creative and it has something to do with business, I'm probably in on it. If you're looking for a way to earn money through your creative passions, or if you need help finding your creative side, you are in the right place.

[00:00:34] Hello. Welcome back to the ultimate creative podcast slash video slash Tik TOK slash all the things. Oh my God. I'm Emily milling. It's been while since I've done this. And so therefore you're getting a little song today. Yay. Today was actually today, today was actually supposed to be a musical day. And guess what?

[00:00:58] My creative brain was like, oh fuck that. We're not doing that today. We are recording a shitload of podcasts for everybody, because that is like, that is the energy that I've got. I've got my Christmas tree. I've got. Um, a really messy apartment because we are mid move and I'm very excited about this. I have to tell you, we're getting a new place.

[00:01:19] I'm going to have like a new studio. I'm so freaking excited about this. I can't wait to show you when we actually have it. So anyway, all that to say today is the day that we talk about creative business planning. You need to have a plan in order to make your business happen. And I'm going to share with you four things.

[00:01:36] I don't know why I chose the number four, but anyway, for things that you need to have in order to get a really good foundational base for your creative business going okay, well, let's jump in. So the first question that you want to ask yourself is what is my vision? What is my vision? What do I actually want this business to be?

[00:01:55] Because if you don't have. An idea, a concept, even like, if I were to say, I want to start a cake business, then I would ask myself, okay, well, why do I want to start a cake business? Well, I really enjoy creating a feeling for people that is. Sort of like a sense of home. It makes them feel like, you know, like when you sink your teeth into a delicious baked good a piece of cake, it's like, ah, I feel calm.

[00:02:22] I feel at ease. I feel like I have a moment to myself and I want that for other people. Okay. I mean, that's awesome. We're going to get into like customer-facing things too, but I also want you to think about how is this going to impact your actual life? Like what is having a cake business going to do for your entire life?

[00:02:43] Isn't going to make a buttload of cash. Is it going to be like a big bakery where you have lots of people working for you? Is it going to be just you just a solo preneur charging along full speed ahead. Making exquisite little desserts for people. That's a hell of a lot of work. Not, not doable, but it's a hell of a lot of work.

[00:03:03] And if you enjoy doing it, you're going to have a blast. So what does the future look like? What is the ultimate goal of having this creative business? So think about how you would want to. Make that happen for yourself? That is, that is the first question that you're going to ask yourself. So the next thing you want to do is put together a business model, and this is how are you going to make money?

[00:03:27] How are you going to create the product or service that you're going to be providing people? What are the mechanics of that? Do you need to get a manufacturer? Are you going to manufacture all of your blue rays in your home office while your fiance? Did I remind you I'm engaged? Oh my God. I didn't tell you yet on this one anyway.

[00:03:44] Are you going to manufacture all of your blue rays in your apartment and your port fiance will trip over them from time to time, or what are the other things that you need to consider to create this product or service then how are you going to get it to your customer? Right? Do you have to ship it out?

[00:04:02] Do you have to send them an email with a link to the thing that you've created? What is the method that you're going to make that happen with? And then also you want to consider how are you going to tell people about it? So. The entire business model as an entire, as an entirety, as an entirety. I don't know.

[00:04:19] I guess that's what we're going with today. What does that whole thing look like from point a, letting the customer know, like, what are the different marketing channels that you're going to be using to point B the customer purchasing, see delivering the product or service to your customer, and then you want to figure out too.

[00:04:38] Of course you need to know. What are the profit margins? How are you going to cost this thing? But I'm going to save a little bit more of that for later. The next thing you want to look at is policies. My God, my creative lovelies. I know it's so hard to feel like you're a squeaky wheel in the process of your customer or your client getting the thing that they need.

[00:05:04] But here's the thing. If you don't have policies for whatever it is, you're providing a return policy. A did not use my podcast episodes this month policy. I did not use my singing lessons this month policy. Just setting yourself up for a shitload of headaches and way less money than anticipated. Here's what I learned with my podcast production business.

[00:05:30] I was like, yeah, you know, it's no problem. Like if you, uh, if you don't use all four episodes in your package in a month, you can carry it forward. Well, how many times did I let people carry forward their episodes? Before I realized I was just giving shit away for free left right. And center and I was reducing prices and I was like, Man.

[00:05:49] I got to eat. Okay. I got to pay for this home, this giant Christmas tree behind me, I have to pay for things. And so setting policies was a really great way for me to be able to actually do that. So now my policies are, if you don't use it, you'll lose it. So if you only send me one episode in a month to edit for your podcasts, then I'm only going to edit the one, but you still have to pay for the four and you need to give me 30 days.

[00:06:18] If you need to change your package because I mean, I want to be flexible enough, but at the same time, I need to protect my team. I need to protect my home. I need to protect me eating actual food. And that is super important. That's something that you need to consider when you're putting together your creative business plan.

[00:06:33] Now, I want to talk about your customer, who the hell are you selling to? Because I got to tell you, if you say everybody. I mean, it's, I'm going to just tell you that to go back to the drawing board, because that is not a thing you cannot sell to everybody. Everybody needs air, but they don't all need. A very specific blend of Herb's and spices.

[00:07:01] I might just be looking around my apartment at all of the things that I have out on my floor. Cause I have to move soon and there's a lot of herbs and spices on my floor waiting to be packed up. Anyway, I digress the things that you need. Who's your customer, what is this product or service for? What is the problem that you're solving for this person and how can you position it in a way that is going to make them feel like, yes, you are the person to provide that solution for them, because here's the thing like realistic.

[00:07:32] Not everybody needs a fancy cake. Not everybody needs videos, not everybody needs podcasting, but the people who do are going to be choosing you because of the way that you sell it to them, because of the way that you are connecting with them because of your policies. See previous note I had about creating policies.

[00:07:51] All of these other things are super important. Understanding who your customer is. I love creating a customer journey. You can go back to way back in time of my old podcast episodes and find yourself the, the ones where it's creating a listener journey like Alyssa. Persona persona is the word I'm looking for.

[00:08:12] And there's tons of these exercises on the interwebs as well that you can find to the basically like, just create the life in the day of a person who has a problem that you were solving with your product or service and find a way to relate to them. Give them a name, give them a personality. Heck give them a dog.

[00:08:29] If they, if they're going to have a dog or maybe not. If your product is about being allergic to dogs, it could be that too. Anyway. You need to know who your customer is in order to make sales. And we're going to get into a ton more about sales and selling and customers and all that stuff. But for now, this is what I want you to be thinking about.

[00:08:49] So more to come on this. So that's it for this episode, putting together a business plan for your creative business. Here are the things that you need to keep in mind. Number one, you need to have a vision. You need to know where the hell this business is going. Why are you doing it? And what is its purpose?

[00:09:08] How is it going to help planet earth? Number two, you need to have a business model. And that means understanding the entire flow of life. Putting your product together, selling it, finding your customer, all of those things. How does your business make money, cash in your pocket? So you can buy yourself a figurine of like beauty and the beast or something.

[00:09:31] I don't know, whatever you want to buy. That's up to you. That's, that's your call, but you need a business model. We'll figure that out. Number three, you need policies. And if you don't have policies, you're gonna get fucked over at are really sorry. Realistically, you're going to get fucked over in the first couple of tries.

[00:09:51] And I'm telling you that because. It is a thing I said realistically. And I'm trying not to say realistically again, but realistically, when you're doing this for the very first time, you're going to have to learn some stupid dumb lessons. However, it is my job. I have decided it is my job to try to help you to learn those lessons through all of my lesson learning before you have to actually learn them for yourself.

[00:10:15] So I'm like your proxy lesson learner. Anyway. To have policies, get a lawyer, write out your terms and conditions. These are all really important things you need to do. Number four, you need to know who your customer is and you need to understand them inside and out. Do a customer journey, do like a little journal day in the life of your customer and figure out why, why is it important for them to purchase your product or service to solve the problem that they are?

[00:10:41] Why them specifically and why you specifically, and this is going to change over time, but you know what you're just getting started. So I want you to start with just one customer persona and get going there. All right. That's it. That's all I got for you today as per usual. I am Emily milling. I am I'm in my home.

[00:11:03] I don't know. I'm I'm hanging out. Um, just, I just want you to know that. And that's how I'm ending this episode. Okay. Thanks. Bye.

[00:11:17] Thanks for listening to the ultimate creative. If you heard something today that helped you get one step closer to building your super awesome dreams, I would love it. If you shared a rating and written review on apple podcasts, that helps more people just like you, that want to break into their passions and build a life they love with creativity and entrepreneurial.

[00:11:36] And if you know, someone that needs a boost of inspiration and this episode will help please share it and spread the love. I truly believe that the more we encourage each other to take steps towards building our dreams, the better our lives will be and the happier we will become. Pretty awesome to learn more about how I can help you build your dreams through podcasting, more coaching, head over to the ultimate creative.com or follow me on Instagram at V underscore ultimate creative and let's chat.