When you’re asked to write and can choose any subject you want, sometimes you need a spark. I was just sparked. I’m immersed in strategic planning for my HOA of 3,200 homes and 5,500 residents. It will take a lot of people to chart a course for our future. That effort brought me right back to the promotional products world—both the distributor and, to a degree, the supplier side.
Entry into our business has never been like most industries. Today, you can be a traditional brick-and-mortar shop or simply an online source. As my readers know, I’m the senior writer for Promo Corner. When I entered the industry, you grabbed a sample bag, headed to an industrial park or office building, and literally went door to door.
I often tell the story of canvassing the famous Brill Building on New York’s 57th Street. I knocked on a door, the office person opened it just a crack—there was a chain inside. She tried to close it when she realized it was a sales call, but my steel-tipped shoe was already planted in the gap.
Those days are long gone. Door-to-door selling is a thing of the past in most places. More than ever, planning is essential. Where will your sales come from? How will you scale once you reach early success? A strategic plan sets your path and your goals. If you don’t know where you’re going, you’ll never get there. Driving around a traffic circle endlessly gets you nowhere. Driving down a dead end gets you nowhere.
A business plan is essential for a small advertising specialty/branding business because it gives you clarity, direction, and control—and it becomes the blueprint that helps you stand out in a crowded market. At its core, a business plan aligns your branding, marketing, financial decisions, and long-term goals so you can grow intentionally rather than reactively.
A business plan forces you to articulate who you are, what you do, why you do it, and who you serve—core elements of brand strategy. This clarity helps you differentiate yourself and present a consistent, cohesive message across all platforms.
Branding and business planning work hand in hand. A strong plan integrates brand identity, customer personas, and marketing strategy so every dollar you spend reinforces your brand and moves you toward measurable goals.
A business plan outlines goals, market opportunities, financial projections, and operational strategies. This roadmap helps you anticipate challenges, make informed decisions, and stay focused on long-term success.
And if you ever seek financing, investors and lenders will expect a clear business plan demonstrating your understanding of the market, your strategy, and your financial viability.
What Your Business Plan Should Include
Business Overview
- Who you are
- What services you offer (promo products, branding, design, campaigns)
- Your mission and value proposition
Brand Strategy
- Brand mission, values, and vision
Market Analysis
- Target market demographics and psychographics
Services & Offerings
- Both products and services
Marketing & Sales Plan
- Long-term strategy and annual plan
Operations Plan
- From the back office to internal production
Financial Plan
- Startup costs, cash flow, revenue projections
Growth Strategy
- How will you scale your business
As I look at the key ingredients of a business plan, I see how much overlaps with what we’re crafting for our HOA. If you keep your plan updated with annual reviews and refresh your long-term strategy, you’re not just writing a business plan—you’re building a strategic plan that keeps you and your business on a clear, charted path to success.
Joel D. Schaffer, MAS is CEO and Founder of Soundline, LLC, the pioneering supplier to the promotional products industry of audio products. Joel has 48 years of promotional product industry experience and proudly heralds “I was a distributor.” He has been on the advisory panel of the business and marketing department of St. John’s University in New York and is a frequent speaker at Rutgers Graduate School of Business. He is an industry Advocate and has appeared before the American Bankers Association, American Marketing Association, National Premium Sales Executives, American Booksellers Association and several other major groups. He has been a management consultant to organizations such as The College Board and helped many suppliers enter this industry. He is a frequent contributor to PPB and Counselor magazines. He has facilitated over 200 classes sharing his industry knowledge nationwide. He is known for his cutting humor and enthusiasm in presenting provocative and motivating programs. He is the only person to have received both the Marvin Spike Industry Lifetime Achievement Award (2002) and PPAI’s Distinguished Service Award (2011). He is a past director of PPAI and has chaired several PPAI committees and task forces. He is a past Chair of the SAAGNY Foundation, Past President of SAAGNY and a SAAGNY Hall of Fame member. He was cited by ASI as one of the 50 most influential people in the industry.