Why Do You Need a Business Plan?
When some think about starting a business, we may not think about a business plan. We just dive in and hope for the best. The problem with this is we end up back-tracking.
This is exactly what happened with my biz. I was in love with essential oils and so I figured I’d share them with my friends, family, clients and BOOM! A business happened to me.
I had to go back and figure out how I wanted to lay it out by answering some super important questions.
Who was my ideal client?
How did I want to market my biz?
What kind of income did I want to earn?
I started out doing everything by myself and today I work with a team of professionals who help me execute my ideas and manage my biz. We are located in different parts of the country and every Friday we get together for a business meeting to be sure everything is on track.
Are you a new entrepreneur or thinking about starting a biz? Wait! Resist the temptation of shooting from the hip. Go ahead, get started but you need to start thinking about a business plan — or you could run the risk of your biz crashing and burning. Many businesses have, and many more will follow.
Why? Because they fail to plan.
NEWSFLASH: If you build it, they won’t necessarily come.
If you have the idea, get started. Put it into play, even if your plan is not fleshed out yet. But be thinking about what you have to do to move in the right direction.
When I work with new team members I ask a series of questions:
Where do you want to go with your biz?
What do you have to do to get there?
What rank do you want to hit?
You may not have all the answers, but it’s important to start thinking about these questions.
Your business plan is the cornerstone of your business. You need to ground yourself on a firm foundation if you’re going to hang in these crazy economic times.
When I started my essential oils business, I bellied up to the table with some business experience. After practicing law for several years, I also taught yoga and Pilates. Both made me more biz savvy.
Did that mean I didn’t need a plan for my new business?
NO!!! Entrepreneurs always need a plan, and we need to be willing to revise as we grow.
My first step was to determine my ideal client. Then I taught myself how to market online and with social media. I didn’t have a lot of money to work with, but my biz plan helped me create a budget that would allow me to invest in the growth of my biz.
Why was this valuable?
Here’s why – I went from ZERO income to multiple 7 figures in just a few years. AND you can do this too!!!
(By the way, I teach you my strategies in my Social Downline Course.)
You’re business plan will help you think about things you might not otherwise consider. It will provide the information to answer critical questions about your new biz and where you want to go with it.
By the way … if you’ve been in business awhile without a business plan, it’s not too late to start. You’re not off the hook – even if you’ve managed to keep your biz afloat.
The truth is, you’ve been dodging a bullet. I’m serious. Breathe a sigh of relief and then get going before your luck runs out.
The SBA says 30% of businesses fail in the first year, and 50% in the first five. Your business plan will up the odds that you fall on the other side of those percentages.
So if you think this is too huge an undertaking, I’ve got you. I designed a ONE PAGE business plan that will get you started. It’s my gift because I believe in you and want you to experience the excitement and prosperity of business success.
Click Here to Get Yours!