I am totally blown away by the many business owners who do not actually have a business plan. We know the quote "Those who fail to plan, plan to fail." However, with every client that I coach and consult with one of the first things I ask them is what goals do they have for their business. The business strategy plan is the tool that will help you stay on tasks. It is basically your compass to make sure that you are reaching your goals.
Many people I speak to become overwhelmed by the process of creating a plan. There are many great softwares that you can use for example BizPlan Builder is an amazing tool to use to help you through the process.
So let's get started. These are the 3 major components your plan must have:
(1) Income Goals - How much money do you want to make for 2010? What is the total gross revenue? What increase do you want for your business? Begin with knowing what type of lifestyle you wish to live.This will help you in planning your income goals.
(2) Budget - What are your planned expenses for 2010? How much are you allocating for advertising/marketing? Do you have a budget for education/training for yourself and your staff? Are there some expenses that you need to cut for 2010?
(3) Marketing Strategy- Do you have a 6 month marketing strategy in writing? Do you know who your ideal client is and how to reach them? Are you planning on using social media, print, direct mail? Do you have a referral program or affiliate program? What is your expected return on investment (ROI) for the marketing you plan to do? Do you have a tracking mechanisms to gauge your results?
It may seem challenging and daunting but with the right support and a well thought out strategy you will create a "working" plan to accelerate your business.
Coaches Tip: Start NOW and work on one section at a time. By December 31st, you will be ready to take your business all the way and please know we will love to help you on your journey.
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