Good morning fellow business owners! Doesn't your heart just beat a little faster when you see my marketing Wednesday post? Sure, I know that for some of you it means you just stepped off the treadmill or ran upstairs with a basket of laundry, but for some..it means you're excited about your business and look forward to growing it to new and exciting levels! Marketing should be as natural as breathing for you now. Just as we need to breathe to live, your business needs to be marketed to succeed. Unfortunately, as we've discussed before, without a clear vision for your business, it's rather difficult to keep marketing and notice steady growth.
As you know, Tuesday nights at Make Mine Pink we host a members marketing chat. Last night our topic was BUSINESS PLANS... And do you need one to be successful? My personal opinion.. absolutely yes!
A business plan is like a Road Map to get your business to where you want it to be. Many will argue that every business needs a complex business plan, and if your objective is to obtain funding based on your plan, then it will need to follow a much more structured path. But if a simple plan is all you need to keep a clear vision of where you want to go, measuring progress along the way, well that’s ok too.
Personally I think that a short, practical plan with very clear goals is the best type of business plan for many people in our position.
A business plan is a wonderful tool because it gives you and idea to really think through your ideas. Some ideas may sound great in theory, but once you put it to paper, you’ll see aspects that you hadn't considered.
Your plan will give you and your business a sense of direction and very clear time-lines. We've talked about goal setting many times and how how they play a part in determining the success of our business. we can't make and reach goals without a clear vision.
Many of us started with a business before we even really formulated a plan. Some of us stumbled into business while doing something that we love. While it’s great to have that passion and dream, the reality is.. We need a plan to make that dream a success. Many of us already have a plan, but just don’t realize it. Get that plan to paper! I’ve seen too many business owners give up on their dream because they don’t have a clear vision and plan.
We’ve discussed having a clear vision and we’ve also discussed setting goals. Now its time to combine those two things into a short but clear business plan.
I know the first thing some of you will say is that you have no idea how to write a business plan. This doesn't have to be a fancy plan. But if you feel more comfortable a formal business plan, there are many templates and business plan how to’s out there on the web. Just do a Google search on business plans. You'll be amazed how many you'll find.
A business plan doesn’t need to be complicated. What it needs to be is YOUR plan of action. Your VISION for where you want your business to go.
Some of the things you need to consider when writing your business Plan are:
Give a brief description of your business including name of business as well as what products or services you offer.
What is the structure of your business? Do you have employees? Where are you located? Where are your products currently being sold?
If not a new business, what growth have you experienced? If you have this information, it would be great to include your growth to date. Example. Make Mine pink started in 2004 with 7 members, in 2007 had 200 members and in 2008 1000 members. That’s a growth in membership of 500% in the past year alone.
What is your target market and how do you reach them?
What products or services do you offer that make you stand out over your competitors?
Where do you want to see your business to go? This is your own personal road map.
How will you get your business there? (What are the steps you will take to make that happen)
How long will it take to get your business where you want to go? Give yourself a measurable goal with time frames. This can alwasy be changed.
What costs will be involved in making this happen? Will you need funding?
Keep your goals specific and measurable and remember.. This is YOUR business plan. That means it can be changed if you want to change it.
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