The power of creating a business plan for your business

If you’ve ever googled “goal setting”, or mix in business circles, you’d be pretty well versed in how important goal setting is. You’d already know that writing down your goals increases your likelihood of achieving them by 95%. You’d also know that goal setting makes you a better person and more attractive to all other humans 😉

 

Now, before you do yourself some kind of serious eye strain, stop with the eye rolling! I know you know how great goal setting is but, have you done it? Do you ACTUALLY have your goals written down? And, do they include a clear business plan of how you’re going to achieve them?

 

When I first started in business, full of new-business enthusiasm, I downloaded a business plan template off a government website. I sat down with my motivational quoted coffee cup and diligently set out to complete TWENTY SIX pages of business planning. It took me days. Somewhere in the process I got more focussed on getting the right answers and completing the form that I wasn’t able to step back and see my plan from a holistic perspective and pinpoint what it was I wanted my business to achieve.

 

That was a few years ago, and now thanks to my years of business coach experience and the knowledge I’ve picked up from working with all kinds of small business superstars, I’m ready to make this process much easier for you. Based on everything I’ve learned, I’ve now created a much more succinct template (5 pages instead of 26!), which I feel much better addresses the basics you need as a small business owner.

Let me walk you through how to put together your very own business plan, but more importantly WHY you need one.

 

First things first, we’ll start with my first lesson- Remember not get too caught up in the excitement of template completion. I suggest you take some time to work out exactly where you’re heading by starting with the following:

Set your vision – what is your why? Think about what it is that will keep you motivated and get you out of bed every morning. What is it you want your business to be, to represent and to deliver? You could, for example, want to be known as Australia’s best copywriter.

 

Set your mission statement – you’ve got your vision, but how do you intend to achieve it? You can think of your vision as your focus for the future. Whereas your mission is set in the here and now and will illuminate how you’ll get to that future. You may decide “By staying on top of cutting edge practices and delivering an unparalelled level of customer service” is what will project you to Australia’s #1 copywriter.

 

The basics – some people may consider this the boring bit but these things will be the foundation of your business. Do you have adequate insurances? Is your IP protected? You may be fortunate enough to never have issues here but if you’re not protected, you might leave your business at risk.

 

Marketing – no matter how many cutting edge practices you’ve learned, if your customers can’t find you, it will have been for nothing. How do you plan to market your business? How much will you need to spend to get the exposure you require?

 

Finances – it’s important to set a budget. Start by outlining the profit you expect each month, after expenses. After all, how is it you’ll finance all this training you’re planning to complete? Consider how you’ll manage cash-flow and establish your break-even point.

 

Now that the value of business planning is glaringly obvious, what are you waiting for??  Let me help you! 

Download your business plan template here

 

0 Comments

Leave a Comment

Your email address will not be published. Required fields are marked *

*

Log in with your credentials

Forgot your details?