Most people think it's a waste of time to put a marketing plan on paper, particularly a small budget marketing plan. Well, would you build a house without a blueprint to work from ? How would you know what to build?

Check out the development of a marketing plan in more detail in GoForth's Online Education for Entrepreneurs, but for now here's the nitty gritty of a marketing plan:

Branding - who are we?

Target market strategy - who are we selling to?

Product or service strategy - what are we selling?

Pricing strategy - for how much are we selling it?

Promotion strategy - how do we let our market know about us?

Distribution strategy - where and how are we selling it?

If you are considering making a marketing plan, your best bet is to begin with branding. Who are you (as a company) and what do you want your customers to believe about you? The answers to these questions will help you create other marketing strategies.

In your target market strategy you describe who your customers are - businesses or consumers? What are their main characteristics, like age, income, education, beliefs, etc.?

From there, you need to decide what it is you're selling, how much you'll charge, where you'll advertise and distribute your products or services. The main thing is, you need a plan. No house ever got built from an idea. A blueprint helps you to know where you're going and how much money it's going to take to get there. Just get started, 'cause you gotta have a plan.