The reality is that if you are starting out or wanting to get a breath of fresh air into your business, you need to have a plan for everything to work out. But the main issue should not be if you write your plan. This has to happen. The very same thing is how to write a business plan that will get your business where you want it. Up to your goal.
So if you have an average company you can continue to read the article followed. But if you are starting out and your business is very small, you have other steps you need to take first. Go ahead and head straight for the title: defining concrete steps.
Your business plan is essentially your answers to an extensive list of issues. The first and most important question is this: how far do you want your business to go? Put differently, whatever your business is in three, five, or even ten or more years? Then you have to answer other questions like:
What level of income and profits do you have at the moment?
How many employees do you have?
How many places are you in?
And so out there.
Likewise, your business plan should contain the answer to all of these questions for a short period of time, say a year. Imagine yourself answering the same questions in a year and say the answers you would like to give. You want to know what you just did? From creating your short-term goals. That is, you will become aware of what your business objectives are for the current year, and what you must accomplish to make the year a success.
But is it that simple?
Well it could be if our goal was just to give you a basic business plan and no application. But our goal is for you to have something concrete to work on. So once you answer those business planning questions, you clearly have to answer questions pertaining to each of the key sections of the plan as follows:
Company Analysis: what products and / or services do you offer now and / or which ones will you develop and offer in the future?
Activity Analysis: How big is / are your market (s) and how are they changing? What trends are affecting them and if these trends are a good sign for your future success?
Competition Analysis: Who are your competitors and what are your main strengths and weaknesses? In what areas will you have or gain competitive advantage? As?
Customer Analysis: Who are your target customers? What are your demographic and / or psychographic profiles? What are your needs?
Marketing Plan: How will you reach your target customers? What promotional tactics and marketing channels will you use? How will you tabulate your products and / or services? What brand placement do you want for both?
Team Management: who forms your current team and what key signings should you make to carry forward this opportunity ahead of you. You will form a Board of Directors or Directors, and if so, who will you seek?
Plan of Operations: what is your plan of action? What are the milestones you must accomplish to get from where you are now to where you want to be at the end of the year? At the end of five years?
Financial Plan: What amount of external funds (if applicable) will you need to build your business? In what areas will these funds be invested? What are your revenues and projected profits over the next one to five years? What assets should you acquire?
Answering the questions in these eight key sections of the business plan helps you formulate specific business goals. They also help you answer the most important question to be included when you write the Executive Summary of your business plan, which is: why is your business qualified to succeed?
Will success knock at the door of my company?
There are many reasons why your business may be uniquely qualified to succeed. For example, it could be the quality of your management team. Or the unique technology and / or partnerships you have created. But, what is more important, if you do not have unique qualifications, it is very easy for competitors to steal your customers and your share of the market at any.
So, if you are now thinking concretely about writing a plan, sit back and start answering the questions outlined above. It is the part of thinking and strategizing that is currently the most important part. Of course, if you want others to read and / or finance your business, your plan needs to be properly read and formatted. But it is the content of the business plan, your strategy and the reasons why you will succeed, which will lead others to invest or otherwise join in your achievement to build a thriving business!
Defining concrete steps
All of this is very beautiful, but if your business is small, you will not be familiar with all the above written verbiage. So, before you get off the rails, let’s make a simpler plan. Then, when you are progressing at full throttle, come back here and redo your plan according to the guidelines spoken above.
The Steps to a Microenterprise Business Plan
There, your company is very small, only you work on it or, at most, a hand full of people. The first step is to define your target customer. To make it simpler, imagine whether it’s a man or a woman and name it. Then start creating the character according to the average characteristics of your average client: age, profession, social status, hobbies … learn to know your client as if it were a friend. Then see why he will be your customer. He has a problem and you have the solution. How does this problem affect your customer friend? What is your deepest pain and how can you resolve it?
Now you will be not in the purely commercial world, but in the emotive sphere of your client. And when you truly realize this step, you are ready to leverage your business.
Do not sell products, have solutions
You will begin to understand that your customer seeks you not for the product, but for your ability to solve your problem (even if it is selling a product). It will be connected to you emotionally and at that point you will present a clever solution to your problem. More than that, you will show him that you know what you are talking about and will speak with authority, presenting your product. Not the master’s authority, but the authority of knowledge. It will give you unique tips and advice and make your customer feel special. He will want to go back, not because of the product, because he probably finds the same product elsewhere, but because he felt welcomed, understood in his pain and you solved his problem. He will have a feeling of gratitude that will bring him back.
By doing this to all customers who contact you, you will be creating a network of friends who will want to be with you again, who will want to return. Your business will start to grow from day to day. Then it’s time to go back to the initial questions in this article.
We can help you
Whatever your company’s bottom line, we’re here to help you create a plan that will leverage your business. Contact us through the means available on our website and find out today what we can do for you. Are
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