A business plan is a key component for any new company,
whether it’s a BBQ start-up or a tech firm that’s destined for fame. The same
goes for your voice over business - you need to have a business plan in place
from the get-go. But if you’ve never written one, it can seem like a daunting
task. Don’t sweat it, though. Developing a business plan is definitely doable.
Here’s what you need to include in yours:
Description
This one probably goes without saying. Your business plan must
include a description of your business and what it’s all about. Talk about what
a voice actor is and the role they play in the larger communications and
marketing industries.
VO Market Details
After the description, focus on the VO market itself and the
role you plan to serve within it. You can get more specific here, detailing the
niche you intend on focusing on.
SWOT Analysis
A SWOT, or Strengths, Weaknesses, Opportunities and Threats
analysis gives you an opportunity to examine each of these areas. Identify them
by developing a comprehensive list of each. For example, one threat might be
the subjectivity of VO and how this has the potential to negatively affect your business.
Assets
What assets do you currently have or intend on acquiring in
your business? This includes any and all equipment, such as a computer,
microphone, and other audio or recording aids.
Projected Income
You’ll have to spend a little time researching what the going
voice over rate is, but including income projections is a necessary component
for your business plan. Not only will it help you set financial goals, you’ll
also need to provide this information if you plan on forming an LLC or
incorporating your business in the future.
Expenses
On the flip side of income is expenses, and you’ll want to
detail these as well. This would include equipment purchases, marketing
expenses, training and networking costs - basically any business-related
expense you plan on incurring.
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