Many people don’t realize that writing a book means you’re in business for yourself.
Therefore, we offer as a public service the best way to get started. Because, if you’re serious about building a business, you need a business plan. It’s like having a blueprint to erect a strong, stable house in which you’ll live.
Composition notebooks are great for developing your business plan. You can’t tear out the pages, and any ideas you scribble down are still there six months later.
Carry this book with you everywhere, organizing your thoughts and answering questions like:
What’s your objective?
Who’s your audience?
What’s your timeframe for success?
What resources are you willing to invest (money, time, etc.)?
What will you consider to be a success?
Why should someone buy from YOU?
We know…you’re a nice person, your price is fair, and your quality’s good. Of COURSE folks will want to buy your book.
But if your competitor says the same thing (and he will), what differentiates you?
And consider this; if you can’t justify why someone should buy from you, how will THEY figure it out?
Key to your business plan is the SWOC (Strengths, Weaknesses, Opportunities, and Challenges) analysis. By being brutally honest, you’ll know at a glance what makes your business special and problems you need to address.
Business plans can be 5 pages or 50, depending on what you need to comprehensively understand supply chain, personnel, competition, finances, and other key issues. Over time you’ll start seeing patterns of seasonality, profitability, and challenges.
Anyone reading it will grasp how things work. KEEP IT IN A SECURE PLACE!
Finally, plan to regularly refer to your plan for matters like branding, marketing, pricing, HR, and operations. If you do your plan properly, you’ll have your budgets and milestones (both marketing and operations) for the next couple of years. This will also make next year’s updates relatively easy.
Yup, you heard correctly; you’ll be updating parts of your plan annually. Because, while branding and systems may not change much from year to year, budgets and marketing milestones will. Referring to your plan at least monthly will ensure your business stays on track.
Still have questions? Talk to us, and we’ll get you fixed up.