Business Plan

Donna Ward

How do you go about creating your own business plan?

— Know where you are today and where you want to go and be. Your business plan starts with your own clarity.

So, you know your own business ideas/goals, and you have looked over your competition —but you have little or no specifics on how to put together a business plan – let’s get started, then.

The act of planning helps you think things through thoroughly, study and research, and enable you to take a look at your ideas analytically. This type of researching for your business plan and market planning also helps you articulate and be able to speak more easily about your business. It takes time now, but will avoids costly mistakes, and chaos later.

One of your first steps is to get familiar with what are some essentials needed in your business plan.

Now take a look a the different pieces of the business plan.  Maybe you’ve taken a stab at this, but now really need to get going  for your own serious success:

— Mission Statement: Many companies have a brief mission statement, usually in 30 words or fewer, explaining their reason for being.

— Your Vision Statement – A description of the business, a mental image as you want it to be and where you want it to be in 6 months, 12 months, etc.

— Goals and Objectives: Goals are destinations—where you want your business to be. Objectives are progress markers along the way to goal successes.

  • == For example, a goal might be to have a healthy, successful business that is that leads in customer service and that has a loyal customer following. Objectives might be your sales for that month and some system to measure client fulfillment.

— Business Values, Beliefs: What is important to you in business?

— Who will you market your products / services to? Who is your target audience?

  • == You may have more than one client group. Identify the most important groups. Then, for each client group, construct what is called a demographic profile.

— Describe your products / services in-depth – as you see them.

Next describe your products / services from your clients’ point of view.

— Features and Benefits

— List all of your major products or services.

  • == For each product or service:

• Describe the most important features. What is special about it?

• Describe the benefits. That is, what will the product / service do for the customer.

Hungry to learn more – connect with me and also read this:

https://coachingbusinessentrepreneur.com/business-purpose

Donna Ward
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