As the New Year rolls in, business owners begin planning or have planned what they want to achieve in 2010. Most new and existing business owners are writing these plans down in a new or revised business plan format. For new business owners writing a business plan can be an overwhelming task, but having a plan is important for clear direction, to obtain financing, and to help manage your business throughout the year. For existing business owners it can be easy to remain in a routine but it is more beneficial to recognize and prepare for the changes in your industry while planning how you want to expand or simply work differently in the New Year. Below are a few strategies to ease the daunting task of writing a business plan for new entrepreneurs and to reignite your existing passion for your work.
Wikipedia defines a business plan as a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
The financial portion of my business plan became easier for me to structure when I viewed a template by a veteran Virtual Assistant (VA). If you need some help with the financial portion of your business plan I strongly recommend going online to locate an existing template from one of your industry leaders. Or, if you are a member of one of your industries professional organizations, research their online forms/tools or call their main office for guidance. Another suggestion is to utilize your local Small Business Administration office as they can connect you to useful resources.
One of the major benefits of my coaching experience at VA Biz Coach with Jeannine Clontz was to simplify my marketing actions that needed to be carried out each week. It is imperative to know how to market your business effectively and efficiently. Referrals are a great way to grow your business. After talking with a client or networking partner, close the call by asking for a referral. In your request explain your ideal client profile.
Also marketing has changed so much with the expansion of social media and mobile marketing that I suggest building an online reputation as part of your marketing plan. Think radio and print is the only way to market? Media reports are showing that Internet marketing is very effective and time efficient if planned and implemented properly. Internet marketing can also offer you the radio experience through Internet radio broadcasting stations like Blog Talk Radio.
If you are an existing entrepreneur and your business is doing well, or needs some help, this is an optimum time to revise your current business plan. Review what you wrote last year or the last time you wrote it out to see what worked, what did not and how well you remained in alignment with your last business intentions. If you have accomplished what you wanted, how do you plan to expand? Do you plan to work less and expand in other areas of your life? If so, are you prepared to hire staff or outsource? How do you plan to expand your business if you want to increase your profit? What new products or services have you developed? What are your industry changes? When was the last time you attended an event to listen to a leader in your industry? If your business has grown, what is your new exit strategy? Now is a good time to map out your direction.
Other Portions and Suggestions
For the other portions of your business plan you should consider your intentions. What do you intend to create with this business? Whether it is a specific income, beautiful assets, or gain time for other experiences, write your outline from an inspired place. When you start working from this outline only input inspired and driven energy into your business. Inspired and driven energy connects with the unseen and helps bring your dreams to reality. If you are feeling tired or fearful about your intentions, wait to work on your business plan until you feel good about your ideas.
I am revising my plan this week and I will keep you updated on my direction, progress, or changes throughout 2010. Join me by writing or revising your plans and work on them with inspired energy. Each day that we have worked toward our year-end desires/goals, end the day by letting them go and allow faith to do the rest.