The Plan

The Plan

In this step, we are going to accomplish a few things:

  • Business Name
  • Executive Summary
  • Product/Services Description
  • Market Analytics
  • Five-year plan
  • Plan to expand your business
  • Automating your business: Earn While You Sleep

Don’t Put Off Making a Solid Plan

Whether you’re making a full out business plan or a framework for your niche. A plan is completely necessary for success. We’re going to do this the old fashion way, pen and paper. A traditional method that will never fail to generate excellent brainstorming.

Don’t put it off.

Business plans can sometimes be intimidating. Many aspiring entrepreneurs that don’t succeed failed to incorporate a proper business plan. They reduce the multiple aspects to a full business plan to just the product description and business description.


Executive Summary

Exactly what it says, it is a written-up summary of your business. It is the thesis of your business plan, the main elements to be maintained and proven.

You build an executive summary when you are seeking a business loan, equipment lease, or commercial mortgage lease, trying to get a patent, partnership, or simply just to put together an about me page for your clients. Writing this out is a great way to visualize the direction you are going.

Although this goes at the beginning of the top of the plan, it is usually created last. Its aim is to be short and sweet. No more than a paragraph usually, straight to the point. Who you are, what you do, what you plan to do, differently and better than the next individual.

There is no specific guidelines or set structure to writing one but it must be detailed and contain: the description of the company you will be presenting to the public. It contains the company profile, mission statement, products and services. Its aims is to seek corporate partners, office lease or business mortgage or business loan. This can be on any scale. Right now, you are the company and we are writing this summary for you.

Let’s start with the Company Profile. This is basically an about me page. Read this example and have a go at creating your own. Hopefully, you will begin to see a bigger picture for your company as you write.


It Should Look Like This

[Business Name]

Proudly serving customers since 2015. {Business Name} has been making handmade woodworking since 2015 but our woodworkers have a combined experience of 30 years. We take great pride in making quality woodwork from our hands to your home.

Proposal

What are you looking to accomplish with your business? Whether you are seeking to make a partnership with a company or an individual we need to have an end goal.

Present:

  • Product Description
  • Projections
  • Strengths of your company and the weaknesses of others

Market Analysis

Finding the right business

Making High ticket sales $100 per customer, gain 5 customers per month minimum and in a year you’ll be making $6,000 a month in 12 months. Or lower ticket sales for a subscription fee of $5 gaining 50 customers a month, in 12 months you’ll be making $3,000 a month.

Funding

Although it’s nice to think that we’re getting closer and closer to becoming more financially free. But you still need to have a good source for income, whatever that may be. Calculate how much money you need to survive. Bills, necessities, groceries, vehicle expenses. Always have an emergency fund ‘just in case situations’. In my personal experience, there is at least one per year. 2020 has had one per month so far

Products

Once you are able to combine all your products together and develop your very own system, you have a business running already. The important thing to remember about a business is that you must have a holistic approach when it comes to business building. Don’t just focus on your primary skill alone. Try to outsource other tasks to other people. For example, if your strength is in writing, your business must not only include writing but many other aspects such as graphics, tutorials and even a help desk to help you answer questions. At the end of the day, you need a complete system to market your business.


Five-Year Plan

Today:

Milestones for expanding your business. Working constantly alongside this plan, You will surely see results in no time. Don’t quit early in or you will find yourself restarting from phase one time and time again until you eventually follow through. Follow through the first time and don’t look back, you will eventually thank yourself. This timeline is to help you visualize the process of making money realistically. Work hard and you will begin to see everything pay off. Earn your big break.

Starting now, write out everything.

  • Business name list, don’t spend too much time you can always change your name before you’re fully established
  • Products/services
  • Content Calendar (Whiteboard colanders are a great investment)

First Month:

  • Set up Website
  • Set up SEO
  • Indexed on Major Search engines
  • 5 to 10 posts
  • A few customers
  • Potentially making a few sales

Three Months

  • 20-30 Posts
  • Returning customers, building a rapport
  • Every post indexed to search engines
  • Getting high ranks on searches

First 6 Months:

  • Possibly earning $500 – $1,000 a month

First Year

  • 100 unique visitors a day
  • Building a community of clients.
  • Make anywhere between $1,000 – $3,000 per month
  • Earning anywhere equivalent to a minimum wage job to an executive’s salary. This is where you can actually afford to work at home. Continue your day job and hire someone to work with you contributing to your site.

Second Year+

  • The sky is the limit
  • You are a well-established brand with a team to work with.
  • Hire an accountant, you could be making 10k per month.
  • You have a complete understanding of business and can start your own ventures in any direction.

Expanding

You have a complete understanding of business and can start your own ventures in any direction.


Next Step:

Implementing plan


TheLeisureOperative

Leave a Reply

Your email address will not be published. Required fields are marked *