Business Plan Basics for Bloggers

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Business Plan Basics for Bloggers

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While blogging may start as a hobby for most, some dream of turning their blog into a business. It’s amazing that so many people have been able to turn something they do for fun into a career!

However, turning a blog into a business is somewhat different than starting a more traditional business. There are some great differences between the two, such as not needing a lot of funds to start a blog, and some not-so-great differences, such as the immense competition in the blogosphere.

One thing all businesses have in common? The need for a business plan. This is often overlooked when it comes to blogs, but it is an important part of staying organized and focused. A blogging business plan will have slightly different needs than the average business plan. You are likely not looking for a loan or investors when first starting out, so this plan should be focused on keeping you on track to meet your goals. If you are ready to take your blog to the next level, read our tips on creating a business plan for bloggers!

Know Your Business

Take the time to clearly state what your business is and how you can offer readers something other blogs can’t. Being able to confidently describe your business and why it is needed will be invaluable. If you want others to believe in you, you have to believe in yourself!

Goals

Start by writing out what your goals are. Once you know what your goals are, plan how you are going to make them happen. How many readers do you need to reach in order to gain advertisers? How much revenue do you need to support the costs of your blog and, potentially, yourself?

Expenses

Map out all of your start-up and future expenses. Write down everything from your domain and hosting costs to purchasing a new camera or photo editing software. Create two categories: one for time costs and the other for recurring costs. Knowing what you need to spend will help you know what you need to earn.

Marketing

Do some market research. Find out how much competition you have and who your main competitors are. Study how they market their businesses and where they seem to be finding success. Create a thorough marketing plan and stick to it. There are countless other blogs out there, make sure people find yours! By adding market research to your plan, you can show yourself and others that you are well versed in your market and ready to thrive in it.

Make Adjustments

Review your business plan quarterly. Take a look at what is working and what isn’t. Make changes accordingly or focus in on an area that you want to improve upon. You worked hard on this business plan, so put it to good use!

Have you ever made a blogging business plan? If so, what was the most beneficial part? Get even more blogging help by following us on Bloglovin’!

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