Key Components of a Business Plan + Why You Need One

Many bloggers, entrepreneurs and business owners do not have a business plan. After all, why should you have one?

Well, if you have a business, then you need a plan and therefore you need a business plan.

A business plan is something that willhelp guide you as to where you are going to take your business and how you are going to get there.

You believe you are on your way to greatness, to making your dreams happen, right? But what is your final destination? What does it look like and how are you going to get there? To get anywhere you need a map and your business plan is that map to turning your business into what you want it to be.

All big and succesful businesses have business plans, and even though your business might be small if you want to treat your business like a CEO and see it succeed, then a business plan is a crucial component of making that happen.

Let’s take a look at how you can write your very own business plan:

1. Get clarity around your vision and mission

First, you have to know what your vision and mission are. What’s the difference? A vision is the the ultimate destination you want to take your business to and a mission is the “why” behind your business.

2. Know how you are going to make money

This sounds like a no brainer but not many business owners plan for this. If you don’t know how you are going to make money then it’s going to be really hard to make it. Get clear around your services, products and pricing. You will also need a financial plan and income/sales strategy to make sure you run a profitable business.

3. Know your industry

It’s important for you to be aware of who your competition is, what they do and how you differ from them. Knowing that will help you stand out from the rest.

4. Have a marketing plan

Many business owners miss this step. They spend all their time building a business and then when they launch it they hear crickets. Why? Because nobody knows they exist.  Make sure you have an action plan in place as to how you will bring awareness and scale online.

5. Get ready to be the CEO

Being the CEO of a business means you have to think about the logistics of the business including when/who you would hire to be on your team when your business grows. Treat your business like a CEO and you will run it successfully!

Are you in need of a business plan? You are in luck! I currently have my Business Plan Template + Workshop on SALE before they go in the vault and become accessible to my clients only. 

Build your Business Plan and accomplish your dreams with this workshop in under 1.5 hours!