When I ask people if they have a business plan for their business, I often get responses like ‘yes, somewhat’, ‘sort of’, yes, but it’s not solid’, ‘I’ve thought about it some’…
Then when I ask people why they do not have a more concrete plan of action, they often say they don’t know how to create one, it feels too overwhelming, and they don’t know where to even begin.
When most people think of a business plan, they think that it has to be a lengthy detailed document with great levels of detail and business ‘stuff’ that they just don’t know much about.
So then they avoid it all together.
There are really only a few critical areas to consider when creating a plan of action for building your business on a solid foundation of success. You can start by thinking through these areas below and jotting down ways to complete these action steps. Then get to work! Some action in this area is better than no action. And the more you work these areas, the better you will get and the more you will grow.
The 7 components of a business plan are:
- Have a vision – Know where you are going. Think about, and WRITE DOWN, how much money you want to be making, how do you want to spend your days, who are you serving, what products and services you want to create at what price points, and through what sources will you generate your income. Then review it regularly, study it, dream about it, ‘get it in your bones’.
Have a target market identified and accessible – What population of people do you think about serving when you think of your business? Where can you access them?
Create your brand – Is your website, colors, logo, picture, messaging, free offer congruent with you AND your market? Will your ideal client land on your website, read your messaging, and see your special offer and feel like they ‘belong’?
Create your infrastructure – There are a few essentials to getting started successfully in your business, such as a website or webpage that represents you and your business and resonates with your audience; a list management service; a special free offer that is compelling and has a perceived value; a way for people to sign up so you can get their contact information.
Generate awareness and grow your list – This is one of the most important steps you will take in your business. The strength of your list is the strength of your business.
6. Create free and paid products and services – For a successful business, you need FREE and PAID products to do two things: 1. attract people to you and keep them involved in a relationship with you until they are ready to become clients. 2. generate income.
- Create a communication plan – A communication plan is WHEN you will communicate, HOW you will communicate, ABOUT WHAT, and for what PURPOSE.
At first glance, how are you doing in these 7 areas? I encourage you to think through these foundational areas and create your business plan to include these critical components. Then you will be well on your way to building a solid business.