Business Planning for Museums

Company

LOGO

1

Business Planning for Museums

Business Planning for Museums

Presented by

Cecil Carter

Murray State College

2

Where does a business Plan fit in?Where does a business Plan fit in?

• Stakeholder’s dreams, ideas, needs

• Vision – Where will we be in 10-20 years

• Mission – Your reason for being

• Strategic Plan – Long Term

• Business Plan – Intermediate

• Project Plan – Intermediate

• Action Plan – Immediate

3

Thinking is the essence of planningThinking is the essence of planning

• Overview– Museum Mission and Vision– Objectives of the Museum– What the Museum plans in terms of:

• Number of Patrons, Budget, Collection, time, etc…• Patron needs and wants

– Museum Resources– Important financial questions

4

Myths about a Business PlanMyths about a Business Plan

1. It must be long to be good1. It must be long to be good

2. My Museum is too small for a plan 2. My Museum is too small for a plan

3. It takes 6 months to do a plan 3. It takes 6 months to do a plan

4. You have to have a consultant do it4. You have to have a consultant do it

5. Why do it, it will just sit on a shelf?5. Why do it, it will just sit on a shelf?

6. It changes with each new Board6. It changes with each new Board

5

What goes into a Business Plan?What goes into a Business Plan?

Elements of your museum’s plan

Operations

Exhibits- Facilities

Outreach

Human Resources

Finance

Direction

6

The Planning ProcessThe Planning Process

• Direction

- Vision, Mission, Objectives Assessment – Current Realities

- SWOT Analysis

Thinking – What do we do with the input?

-Action: Collection Plan, Outreach Plan

H/R Plan, Finance Plan, Implementation

Plan

7

Business Planning for MuseumsBusiness Planning for Museums

• Direction - Questions

Do you have a vision for your museum?

What is your museum’s mission?

What is the museum’s background?

Why did it get started

What are the museum’s objectives?

8

Business Planning for MuseumsBusiness Planning for Museums

• Assessments SWOT analysis

The museum’s strengths are:

The museum’s weaknesses are:

The museum’s opportunities are:

The museum’s threats are:

9

Business Planning for MuseumsBusiness Planning for Museums

• Assessments - Current Realities

Who are your stakeholders? What is your museum’s image with

each stakeholder group?

My current “outreach” consists of: Our collection needs are….

What is your museum’s financial

condition?

10

My museums issues are:My museums issues are:

Issue Situation Solutions

Strengths

Weakness

Opportunities

Threats

11

The Collection Plan Includes:The Collection Plan Includes:

• Collection Areas to consider

- Collection Asset Inventory

- Collection presentation, the story

- Accession

- Archiving

- Provenance

- Deaccession

12

Outreach PlanOutreach Plan

• Outreach Plan

– What are our outreach objectives?

– Targeted Stakeholder

• Who are we reaching out to?

– What is our message?

– What medium do we use to reach our

stakeholders most effectively?

– What will this plan cost?

13

Human Resource PlanHuman Resource Plan

• Human Resources

– Board of Directors

– Staff of the Museum

– Docents

14

FinanceFinance

• BUDGET AND FINANCE• Budget

– Revenue Forecasts– Expense Estimates– Productivity Measures

• Finance– Capital Campaign– Capital Budget Items – Major Acquitions– Financing options

Budget ReportBudget Report» This month Year to Date» Actual Budget Actual Budget

• Revenues $500 $500 $2,950 $3,000

• Expenses

• Salaries 250 200 1,300 1,200

• Outreach 100 150 1,000 900

• Other 75 75 600 450

• Total 425 425 2,900 2,650

• Surplus $75 $75 $50 $350

15

16

Implementation PlanImplementation Plan

• Implementation is the action under the business plan

• It’s elements are to:– Develop action steps under each objective– What resources will it take to do each step?– Determine when each action step will be done– Determine who will do each action– Chart it on a 13 Week Time Line

17

ContactsContacts

Cecil Carter

Community Developer

Murray State College

One Murray Campus

Tishomingo, Oklahoma 73460

Ph. 580.371.2371, ext 112

ccarter@mscok.edu