Remember way back in the day when you wanted to take a trip, you sought out a map or an atlas to find out the best way to get from where you are now to where you wanted to go. Now we use our smart device, but the strategy is still the same. To get from where you are to where you want to go… you need a map and it’s true in business too.
Before us lies an most of an entire year of opportunity. The slate can be completely blank to begin anew or to continue on with what you started in 2021. Either way, it’ll be much easier if you have a map or plan to follow. Contrary to popular belief a business plan isn’t only used to get financing from a bank or investor. It really should be a map of what direction you want your business to go.
These days it’s common knowledge that a business plan can be a great asset to any business or company, particularly if you are just starting up. But have you considered creating one for a year at a time? Set short-term goals to create a business plan that really gets results. All you need do is follow these steps.
There are some key questions about your business you need to answer. For example, ask yourself, “Why am I creating this business plan in the first place?” or perhaps you might ask, “What is it specifically I want to accomplish?” Every business plan needs a purpose and a set of goals. When you know that purpose, you can be sure to meet the goals in the plan itself.
Who are your major competitors?
How does your business compare to competitors? What do you have to offer that your competitors do not? You need to put yourself into the mind of the consumer and answer Dan Kennedy’s famous question, “Why would I, given all the possibilities available to me, want to use your company (buy from you)?”
Take your business plan seriously no matter the time frame chosen.
Your plan can give you real insight into your business, the market and also your current knowledge of how successful you will be. You should refer to your plan often as the year goes along. Just like you do on your smart device when traveling, look to make sure you’re on the right track.
Below are the 5 steps to creating a great business plan that will work for you. Follow these as you are creating your plan and you will be more successful.
- Put some time and thought into it. Dream a little!
- Take your business plan seriously. Make it a map of where you want your business to be at year-end. Think “as if” … As if it was already done and then work backwards to get there.
- Do your research. What do you need to do more of, to do less of, and what do you need to start doing, what do you need to stop doing?
- Investigate similar companies. What are your strengths, your weaknesses, your opportunities and your threats?
- As Wyatt Earp said “Take your time but be quick about it!”
Do these things and you will be even more successful!
