If you already have a thriving, growing business or are just starting out, it’s critical to write a BUSINESS PLAN. When I say WRITE, I actually mean WRITE. Putting down thoughts on a few scrap sheets that are scattered around your home or office don’t count. So let me help give you the framework for writing your business plan. I emphasize this plan for two reasons. I read that if you don’t have a plan, life will have a plan for you and it’s most likely not the plan you’d like. A plan will give you focus on where you want to go. Because if you don’t have a direction, chances are you’ll end up someplace else.
A BUSINESS PLAN has SIX STEPS.
First decide EXACTLY how much money you want to make. It doesn’t help to say I want about “x” number of dollars. You must write a specific amount.
Next, describe in vivid detail what you will give to receive the money you desire. How much money do you intend on spending in your enterprise. What services you will provide, what satisfaction both you and your clients will receive.
Third: And this is so so very critical. Put down the date that you will receive the money stated in your first step. Create a definite time-line for your business.
Then write as many details on what you will do to achieve your goal. Where business will be located, how you will advertise, how many employees if any will you have, how you will obtain your merchandise, the pricing or mark-up and all other relevant details. And Then ACT NOW, put your plan into operation.
Fifth: Write in clear detail all four steps. Be precise and concise.
Last, READ this plan everyday. First read it right before you go to sleep and then once again when you wake in the morning.
This Business Plan will help when you or if you seek Business loans. Try it and be ready to adapt because life will often throw you curveballs.
Have fun with it and enjoy the whole process.