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Business Planning Essentials

business planning3 Things Your Business Plan Must Have

Businesses of every type need a business plan. Don’t think you can skip by on this important step because you offer a service instead of a physical product. Every business can benefit from a business plan.

First Step, 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 endeavor?
    • 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 much money do you want to make over the next 5 years? 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.

Second Step, 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? How can you 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 can you add to your sales funnel for those not yet ready to commit?

Third Step, 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 free webinar, Why You Need a Million Dollar Plan for a Million Dollar 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.

Save your spot at this link REGISTER HERE

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

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