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Business Plan

Weekly Wisdom #18

Do you have a business plan? I would like to encourage you to write one if you haven't got one.

It may feel a bit scary. If I can simplify it for you, think about a sat-nav getting you from A to B. You put in the address and you've got an aim and objective for which journey you want to go on, and how you're going to get to your destination. Sometimes you're given choices, maybe there are a few barriers in the way (roadworks, a bit of traffic). The journey might not go as smoothly as you'd like, but you've got a destination that you want to get to in the end. It's very unlikely that you're going to turn back and not get to your destination because the sat-nav guides you on the journey that you need to go on. You may need to be a bit patient. This might be a journey you often go on. Sometimes it takes you ten minutes and other times it takes you just five.

There are certain milestones on your journey, which will help you, like a petrol station, a supermarket, or a traffic light. Each step of that journey is going to help you to know that you're getting further along and nearly reaching your ideal destination.

So you've got your purpose, your direction and your focus, just like a business plan. When writing a business plan it's a good idea to spread it over several years. For example, in year one, year two, year three, and up to year five, have long-term goals in your mind, where you want to go, how you want to get there, what is your dream, and how your business will look like in five years time. It'd be good to have in your mind how you want to do it and what your big vision is.

Then think about breaking it down into the people that are involved in that business plan including your ideal client and all their aspects. Be clear about who you're serving that particular customer that you're talking to and your message. Have a section for revenue that you foresee coming in and establishing your profit.

A business plan is forever evolving. It doesn't have to be a lengthy document. You can just have a couple of pages, breaking it down by timescale, by milestones, making sure that the purpose, the direction and the focus are in there.

Hopefully, this simplifies it a little bit for you, even if it's just literally one page to start with. Clarifying what you are aiming for helps give you guidance and motivation.

It would be great to know if you have a business plan or not. Would you like me to send you my business plan template so you just fill in the blanks for yourself? If so, just leave a comment and let me know.


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