Businesses of every type needs a business plan. Mistakenly some small business owners think they can get away without one because their business is only tiny. And don’t think you can skip it because you offer a service instead of a physical product. Every business can benefit from a business plan.
Step 1: Focus.
When you create a business plan you need to focus on the reasons for the business:
- Who do you want to serve?
- What do you want to provide?
- When do you want to start?
- Where will you set up shop?
- Why do you want to start such an endeavour?
- Will your business be face to face or virtual?
- How will you meld all these things together to create a prosperous business?
These are the primary reasons why you’re going into business and they should always be at the forefront of your mind when making decisions.
Something else to focus on is your big dream. How will you make a difference to people? How much money do you want to make over the next 3 or 5 years? What about in the first year? Do you want to sell multiple products or have several locations? Everyone’s big dream will be different but you should write it down as part of the plan.
Step 2: A Plan.
Think of your business plan as a mountain. Your mission statement is at the base of the mountain while your big dream is at the peak. Everything in between is what you need to plan and these steps should also be incorporated into a business plan.
- What products do you want to create?
- How often do you want to produce a product?
- Do you intend to implement some passive income or affiliate income into your business?
- Are there any speaking engagements or online summit opportunities that will expand your reach and your followers?
- What will your sales process and funnel look like?
Step 3: Action Steps.
This is where your planning steps are broken down into smaller, actionable steps. Instead of just saying I want to write a book, break the process down further. How much time can you dedicate each day to writing? Do you want to self-publish or find a publisher? You’ll need to hire an editor and someone to design the cover. These are actionable steps that can easily be crossed off your to do list once completed.
Don’t be thrown off here. You don’t need to plan 5 years’ worth of action steps at one time. The idea is to plan a year at a time, keeping your focus in mind, so that the action steps become a pathway or a blueprint to your big dreams.
If this seems like a daunting task, join me on my in my new membership group The Business Confidence Club. During December I will run a webinar, ‘Why You Need a Million Pound Plan for a Million Pound Business’.
We will discuss the importance of breaking down your tasks for more effective productivity as well as how to take ACTION, which is imperative to reach any goal.
Hope to see you on inside the club.
Learn more and save your spot at this link The Business Confidence Members Club