The National Institute for Genealogical Studies

LEADERS IN ONLINE GENEALOGY EDUCATION

The National Institute for Genealogical Studies - LEADERS IN ONLINE GENEALOGY EDUCATION

Strategic Planning for Your Genealogy Business

Once you set up your small business it is not enough to simply sit back and wait for clients to come to you. In order to keep the business viable and successful, you must focus your attention on its overall operation and growth. This is where a Business Plan can help.

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Setting up and Reviewing Your Business Plan

The first process in developing a business plan is strategic planning. The process of developing and updating your plan has many advantages.

  • It helps to clarify your thinking about your vision and mission.
  • It gives you a plan that is tailored to you, your personality, and your situation.
  • It helps you to take the best advantage of your skills and interest.

Your initial business plan should include the following elements:

  • Title Page
  • Executive Summary
  • Business Description
  • Management
  • Marketing Strategy

Strategic planning is a process that an established business uses to review all areas and to plan for the future, both short term and long term. The initial business plan can be used as a starting point for the review and planning process, particularly in the early years of operation, and some of the same thought processes are involved in both.

Your Mission and Vision Statements

One of the most basic elements of your business is a mission statement. The mission statement is a sentence (or two or three) that sums up the essence of your business-what products or services you aim to provide, who the customers are and what value your business can offer to them, how your business distinguishes itself for the competition, and what values you hope to embody in your business.

A vision statement is usually more far-reaching; it is based on your mission statement and relates to the outcome you envision. Your vision statement sums up the impact you imagine you will have through your business. The statement is intended to inspire anyone who hears or sees it.  Through the course, “Business Skills: Business Administration” you will identify the various elements in creating your business plan, mission and vision statement.

Growing Your Genealogy Business

When, why, and how to grow your genealogy business are important questions to tackle. These questions may always be in the back of your mind, but unless you formally address them periodically, you may never take the necessary actions, or you may find your business growing in a way you do not like or are not prepared for. Some small business owners are content, and rightly so, with the size of their business, which suits them perfectly. Growing your business is not a requirement.

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The bigger your business, the less personally involved you can be in all of its operations. Thus, a bigger business requires different ways of doing things, more structure, and organization.  As you grow your business consider:

  • creating a team  that can  give you valuable advice
  • hiring an assistant
  • committing to a growth strategy

Following good business administration practices as shown throughout the course, Business Skills: Business Administration will help you maintain an awareness of just where you stand and help you reach your goals.

 

 

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