It doesn’t matter what kind of business you have, whether it be online or offline, service-based or you have products, you need to have a business plan.
Skipping this crucial step can have a huge negative impact on your business.
STEP ONE: GET LASER FOCUSED
The first objective when you’re creating your business plan is to get laser focused on your reason for being in business. Who do you want to help? What products and services will you provide? When will you open your doors? Where will you be located? Why do you want to be in business? How will you answer these questions to create a successful, profitable business?
These will be your main reasons for pursuing life as an entrepreneur and should be top of mind when making decisions related to your business.
In addition to the present and reasons why you want to start your business, don’t forget about the future.
What are your biggest dreams? How much money do you see yourself making 5 years down the road? Will you have more than one product? Your dream will be different from that of the next person, but it’s important to write it down just the same.
When I was starting my business, my main reason for starting was so that I would have the ability to stay home with my two children. I didn’t want anyone else raising them. I wanted to be at all their events at school and their afterschool activities. I wanted to be able to be at home with them when they weren’t feeling well.
While I’ve had plenty of ups and downs, but it has been the best decision that I’ve ever made.
STEP TWO: CREATE A PLAN
Imagine your business plan is like a mountain. Your mission statement serves as the foundation at the base of the mountain, while your dreams and aspirations rest at the summit.
Everything that you will need to create, plan, and incorporate as a part of your business plan lies in the middle.
What products will you create? How often will you introduce new products to your customers? What will you do to add passive income opportunities such as affiliate income to the business? Are you interested in speaking engagements or opportunities such as virtual summits to establish your expertise, while expanding your reach and followers?
STEP THREE: DEVELOP YOUR ACTION STEPS
Now that you have your plan, your next step is to break each part down into smaller, actionable steps. Let’s say that part of your plan was to write a book. Rather than just grabbing a notebook or firing up the laptop, take the time to outline the details. How much time can you spend writing each day? Will you be self-publishing or working with someone?
Who will help you to edit it once it’s written? Do you need someone to help you design the cover? Creating a more detailed action plan will help you to ensure that everything on your to-do list is completed.
Don’t worry. You don’t have to create 5 years’ worth of action plans all at once. Focus on a year at a time and allow the action steps you create to become a pathway or blueprint to building your dream business.
One book that has helped me so much in setting my goals is the 12 Week Year. It has skyrocketed my productivity and helped me to keep focused and grow my business.
What are your dreams for your business?
Take the free mini-course which outlines the five crucial steps you need to follow to get your business up and running.