Create your Business Plan
In my last blog post I wrote about why you need a Business Plan and I highlighted the major points a business plan should have. Here in this post I go more into the details of the major points.
Purpose, Values and Vision
Here you write about what’s the reason for your company and in what direction you are going. Here I have a short example what I mean to each point:
Purpose: To help people to earn money through the Internet.
Values: Honesty, integrity, service, communication
Vision: I am an Internet Marketer who provides a powerful training for people who want to learn make money online from home.
This is only a short version. You can go much more into details, especially when you write about vision.
Products and Services
Here you write about your products and services you provide. You list all things you want to sell or you want to sell in the near future. Write exactly what the products are and in what price range you want to sell. So you get a real overview about the products and services of your own company.
It’s also important who your competitors are. And don’t look after your neighbor. It’s better when you look at the top people in your business. For example in my field of Internet Marketing the top people are for example Frank Kern and Ryan Deiss.
Study your top competitors. Watch exactly what they are doing, what products and services they sell and in what price range the products are. Also study how they market their products. In this way you learn a lot about what is successful in the market. Because the top guys usually only do what is working and you too should only do what is working.
In the strategy section you put in your marketing strategy. Here again you must get clear about the pricing of your products and service. When you have done this you have to think how to promote your product. Do you promote thirst a cheaper product and offer later your high priced service? Or do you focus more on the high end product and find ways to promote in a target market? It’s important to find the right strategy for your product, so you don’t waste too much money and effort. I can give you here one tip: test small and when it’s working. When you found the right tool to promote a certain product then you can put in more money for the promotion.
Here you make a list of the things you want to do in one month, 3 months and in one year. In this way you have a to do list for the next 12 months. Be ambitious but don’t overload the list. Set exact dates to the list and review the list at least daily. So you are more focused and you work on the right task. When you can’t finish a task on time, then set a new date. At the beginning is it often difficult to set realistic dates but over time it gets better.
As I mentioned in my last post, the finances are very important. Here you make a list with sales forecast and one with the expenses you have. When you compare this 2 list with each other, then you have a clear picture at what time the breakeven point is and how many products you have to sell to cover all your expenses. Revise these lists weekly so that you always have a clear picture where you stand. Do you spend too much money compared to the sales you make? Or do you make more sales than expected.
Now you have a way to create your own Business Plan. Revise your plan on a regular basis. Business Plan is a working tool and when you work with them you have a better overview over your business