Women who attended this month’s Women’s Interactive Networking Group (WINGs) Luncheon learned about the importance of developing business and marketing plans.  Panelists included Su Hartung, certified business mentor for SCORE Fox Valley, Victoria Cook, owner of The Center for Guilt-Free Success, and Kristi Patterson, manager of the Illinois Small Business Development Center.

Some takeaways from the luncheon:

• Know the Who, What, Why, and How of Your Business –
  • Who is your target market?
  • What is your product or service?
  • Why are you going into business? (Is it enough just to have vacation money or are you hoping to make enough to put your kids through college or even to put a roof over your head?)
  • How will you charge for your product/service?
• Set SMART Goals –  Specific, Measurable, Achievable, Relevant and Time-bound
• It’s never too late to make a business plan. It can give you direction and help redefine your goals.
• A marketing plan is different than a marketing strategy. The purpose of the marketing strategy is to describe how your marketing goals will help you achieve your business goals. A marketing plan is the roadmap to get there.

For more information on developing either a marketing or business plan, you can reach out to the McHenry Area Chamber or any of our panelists.